SMC Market Emerging Trends, Demand, Growth By Key Players And Forecast 2022-2026

Reports And Data

The Global SMC industry is expected to cross USD 1.5 billion and grow at an expected CAGR of 4% during the forecast period

NEW YORK CITY, NEW YORK, UNITED STATES, August 16, 2022 /EINPresswire.com / -- This report on the Sheet Moulding Compound (SMC) market is a thorough analysis of the size, share, demand, growth, gross profits, earnings, and revenue of the industry. It evaluates the data gathered to give an extensive view of the trends of the industry and predicts the possible developments in the forecasted duration. For this study, the historical data has been collected from the years 2016 and 2017 while taking 2018 as the base year to estimate the rise of the industry in the years 2019 to 2026.

The Sheet Moulding Compound (SMC) industry is expected to cross USD 1.5 billion by the end of 2019 and is projected to grow at an expected CAGR of 4% during the forecast period. Sheet moulding compound or sheet moulding composite (SMC) is a“ready to mould” carbon or glass fibre reinforced polyester material used for compression moulding. Compression moulding is a moulding process in which a preheated material is placed in an open, heated cavity. The mould is then closed off and compressed in order for the material to be contacted with the overall area of the mould with the result being a product high in strength. This moulding process allows parts to be produced in multiple lengths, thickness, and complexities and thus is used in many industries. SMC is available in the form of sheet rolls weighing up to 1000 kg, and are manufactured by distributing long strands of chopped glass fibres or carbon fibres over a wide area filled with polyester resin, vinyl ester resin or epoxy resin.

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Major companies

IDI Composites International
Magna
Menzolit
Continental Structural Plastics
Premix
Polynt
Molymer SSP
ASTAR
Core Molding Technologies
Lorenz
MCR
Zhenshi Group Huamei New Materials
Yueqing SMC & BMC
Changzhou Tianma Group
Jiangshi Composite Technology Co.
Huayuan Group
JIANGSU BI-GOLD New Materials
Changzhou Rixin Group
SIDA Composites
Devi Polymers

Further key findings from the report suggest

The typical application of SMCs lies in electrical applications, low-cost structural components, automotive and such. SMCs are used in various electrical products such as air conditioners, televisions, toasters, irons, etc. Rising urbanization needs will propel the growth of the electrical segment in the coming years. The transportation segment will continue to hold the majority of the market share due to the growing production of the automotive industry and the increasing need for lightweight materials. Pickup trucks, bumpers, fenders, and hood are some of the major applications of SMCs in the automobile industry. The major driving factors of the growing demand for lightweight materials in transportation, the high-performance benefit of low corrosion in construction purposes, and high thermal resistance in the E&E industry. Although the transportation segment will continue to dominate, the construction segment is expected to witness the highest growth during the forecast period. By fibre type, glass fibre based SMC will remain the highest segment due to its value and volume, but carbon fibre-based SMC will see robust growth in the forecast period due to its higher mechanical performance. The Asia Pacific will continue to dominate the market during the forecast period.

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Segments covered in the report:

Market segment based on the type:

General Purpose SMC
Flame Resistance SMC
Electronic Insulators SMC
Corrosion Resistance SMC

Market segment based on the application:

Automotive & Commercial Vehicle
Electrical & Energy
Construction
Others

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Region Outlook:

North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of Asia Pacific
Latin America
Brazil
Rest of Latin America
Middle East & Africa
Saudi Arabia
UAE
South Africa
Rest of Middle East & Africa

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