Sheet Molding Compound Market to Witness Robust Expansion
Stratview Research has published a new report titled ‘Sheet Molding Compound Market’ to its database. It has segmented the market by End-Use Industry Type (Transportation [Light Vehicles and MHCV], Construction, Consumer Goods, Electrical & Electronics, and Others) by Fiber Type (Glass Composites and Other Composites), by Resin Type (Polyester Composites and Other Composites), by Density Type (Medium-High Density SMCs and Low-Density SMCs), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
Market Segments' Analysis
The market researchers have studied the Sheet Molding Compound Market minutely for better understanding. The report consists of segment-wise details to assist the users in making suitable decisions for better growth opportunities. Below is the short piece of information -
Based on the end-use industry type, the market is segmented as transportation, construction, consumer goods, electrical & electronics, and others. The transportation segment is further divided into light vehicles and MHCVs. Transportation is expected to remain the biggest demand generator for SMCs in terms of both value and volume during the forecast period. SMC is considered an ideal material for fabricating class-A body panels. SMC offers excellent part finish, excellent corrosion resistance, superior mechanical performance, and greater electrical insulation and heat resistance properties, addressing several market requirements. Furthermore, automakers can produce 150,000-200,000 parts per annum from SMCs, perfectly aligned with the 2-5-minute cycle time of the industry. Construction, another noticeable market for SMCs, is likely to be the fastest-growing market in the coming five years.
Based on the fiber type, the market is segmented as glass composites and other composites. Glass fiber remains the perennial choice of material for making SMCs in the foreseen future. Glass fiber offers numerous advantages over other fibers at the lowest cost, justifying its applicability in a large number of applications. All the major markets including transportation, construction, consumer goods, and electrical & electronics, extremely rely on glass fiber-reinforced SMCs. Carbon fiber, a lightweight material, is rapidly gaining market traction in the wake of its advantages suited to the industry-burning challenges. The material type is gaining more traction in Europe and North America, especially in electric and premium vehicles.
Highlights of the report:
The report also highlights the following segments -
- The market structure and forecasts for the coming years.
- Drivers, restraints, opportunities, and current trends of Sheet Molding Compound Market.
- Historical data and forecast.
- Estimations for the forecast period 2026.
- Developments and trends in the market.
Our market research experts have studied the Sheet Molding Compound Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-chain, pricing trends, product preferences, consumer patterns & more. The findings are further validated through primary research with industry experts across the globe.
Reasons to Invest in this Report:
- The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period.
- Segments include quantitative, qualitative, and value data.
- Regional, and country level data includes the demand and supply forces along with their influence on the market.
- The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
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