According to the recent study the sheet molding compound market is projected to reach an estimated $5 billion by 2030 from $4 billion in 2023 at a CAGR of 3% from 2023 to 2030. Growth in this market is primarily driven by increasing use of lightweight materials in transportation, and performance benefits, such as lower corrosion in construction and higher thermal resistance in E&E industries.
Browse 140 figures/charts
and 97 tables in this 205-page report to understand trends, opportunities and
forecast in sheet molding compound market by end use (transportation,
electrical and electronics, construction, and others), fiber type (glass fiber
and carbon fiber), resin type (polyester, vinyl ester and others), density (low
density, and mid and high density), and region (North America, Europe, Asia
Pacific and the Rest of the World).
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sheet molding compound market
Lucintel forecasts that
in this market, transportation will remain the largest end use supported by
growing automotive production and increasing focus on lightweight materials.
Pickup truck boxes, deck lids, fenders, hoods, and bumpers are some of the
major applications of SMC in the transportation industry. Construction is
expected to witness the highest growth over the forecast period.
Glass fiber based SMC
will remain the largest segment over the forecast period supported by its high
performance characteristics and it is also expected to witness the highest
growth over the forecast period.
Asia Pacific is expected
to remain the largest market by value and volume. ROW is expected to witness
the highest growth over the forecast period because of growing demand from
construction and other end uses.
Teijin Limited, Polytec
Group, IDI Composites International, Polynt Group, Lorenz, Menzolit GmbH,
Ningbo HAMC Group, Core Molding Technologies, Changzhou Jiang's Composite
Materials Technology Co., Ltd., LyondellBasellare the major suppliers in the sheet
molding compound market.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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