$3.2 Billion Growth Opportunities in the Global Sheet Molding Compound Market, 2018-2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 3, 2018--The “Growth Opportunities in the Global Sheet Molding Compound Market” report has been added to ResearchAndMarkets.com’s offering.
The global SMC market is expected to reach an estimated $3.2 billion by 2023 with a CAGR of 3.1% from 2018 to 2023.
The future of the global sheet molding compound (SMC) market looks good with opportunities in the transportation, electrical & electronics, and construction industries. The major growth drivers for this market are increasing use of lightweight materials in transportation, and performance benefits, such as lower corrosion in construction and higher thermal resistance in E&E industries.
Emerging trends which have a direct impact on the dynamics of the SMC industry include the increasing penetration of carbon fiber-based SMC, development of low density SMC, and introduction of Direct-SMC.
The transportation market is expected to remain the largest segment, 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 for SMC during the forecast period supported by the growing infrastructural development and increasing demand for lightweight and non-corrosive materials.
By fiber type, glass fiber based SMC will remain the largest segment by both value and volume. Carbon fiber based SMC is expected to witness the highest growth in the forecast period supported by its high performance characteristics. By resin type, polyester resin based SMC will remain the largest segment by both value and volume.
Asia Pacific is expected to remain the largest market by value and volume. Rest of the World is expected to witness the highest growth over the forecast period because of growing demand from transportation and other end use industries.
Some of the SMC manufacturers companies profiled in this report include Continental Structural Plastics (Teijin), Polynt-Reichhold, Premix, Polytec, IDI Composites, Core Molding Technologies, and Plastic Omnium and others.
Scope of the Report
SMC Market by end use Industry [Volume (M lbs) and Value ($ Million) from 2012 to 2023]:Transportation Electrical and Electronics Construction Others
SMC Market by fiber type [Volume (M lbs) and Value ($ Million) from 2012 to 2023]:Glass Fiber Carbon Fiber
SMC Market by resin type [Volume (M lbs) and Value ($ Million) from 2012 to 2023]:Polyester Vinylester and Others
SMC Market by Density [Volume (M lbs) and Value ($ Million) from 2012 to 2023]:Low Density Mid and High Density
Key Topics Covered:
1. Executive Summary
2. Industry Background and Classifications
3. Market Trends and Forecast Analysis from 2011 to 2022
4. Market Trends and Forecast Analysis by Region
5. Competitor Analysis
6. Growth Opportunities and Strategic Analysis
7. Company Profiles of Leading PlayersPolytec Group IDI Composites International Polynt SPA Premix Inc. Lorenz Menzolit GmbH NingBo HAMC Group Core Molding Technologies Continental Structural Plastics Changzhou City Jiangshi Composite Technology Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/745l68/3_2_billion?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181003005349/en/
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Related Topics:Advanced Materials,Plastic Resins,Plastic Additives
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 10/03/2018 04:55 AM/DISC: 10/03/2018 04:55 AM