Lucintel’s latest market report analyzed that global sheet molding compound provides attractive opportunities in the transportation, electrical & electronics, and construction industries. The global sheet molding compound market is expected to reach $3.3 billion by 2025 with a CAGR of 3.1%. In this market, transportation is the largest segment by end use industry, whereas glass fiber is largest by fiber type. The increasing penetration of carbon fiber-based SMC, development of low density SMC, and introduction of Direct-SMC provides strategic growth path in this market.
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Based on end use industry, the global sheet molding compound market is segmented into transportation, electrical and electronics, construction, and others. The transportation segment is accounted for the largest share of the market in 2020 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 and construction is expected to witness highest growth over the forecast period supported by the growing infrastructural development and increasing demand for lightweight and non-corrosive materials.
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97 – Tables
142 – Figures
206 – Pages
The global sheet molding compound market is marked by the presence of several big and small players. Some of the prominent players offering global sheet molding compound include Continental Structural Plastics (Teijin), Polynt-Reichhold, Premix, Polytec, IDI Composites, Core Molding Technologies, and Plastic Omnium and others.
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