The Global Sheet Molding Compound (SMC) Market is Expected to Reach $3.2 Billion by 2021
IRVING, Texas, December 5, 2017 (Newswire.com) - According to a new market report published by Lucintel, the future of the global SMC market looks good with opportunities in transportation, electrical & electronics and construction industries. The global SMC market is expected to reach an estimated $3.2 billion by 2021 and it is forecast to grow at a CAGR of 4.3 percent from 2016 to 2021. The major drivers for market growth are growing end-use industries and increasing demand for lightweight materials.
This report has 109 figures/charts and 35 tables spread through 139 pages. For more detail on this report, please click link http://www.lucintel.com/sheet_molding_compound_market_2016.aspx.
In this market, transportation, electrical & electronics and construction are the major end-use industries. On the basis of comprehensive research, Lucintel forecasts that the transportation and construction segments are expected to show above-average growth during the forecast period.
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Within the global SMC market, the transportation segment is expected to remain the largest segment by value and by volume. Expected growth in automotive production and increased focus on lightweight materials by automotive OEMs are the major driving forces that will drive the growth over the forecast period. Pickup truck boxes, deck lid, fender, hood, and bumpers are some of the major applications of SMC in the transportation industry.
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By fiber type, glass fiber SMC is expected to remain the largest segment by both value and volume over the forecast period. By resin type, polyester-based SMC is expected to remain the largest segment by both value and volume.
The Asia Pacific is expected to remain the largest region and expected to witness highest growth rate during the forecast period due to growing demand from transportation and other end-use industries.
For business expansion, Lucintel’s report suggests innovation and new product development to achieve lower-density SMC materials, improved impact resistance and higher surface quality.
Emerging trends which have a direct impact on the dynamics of the industry include the increasing penetration of carbon fiber-based SMC, increasing focus of major players towards low-density SMC and introduction of direct-SMC. Polytec, Polynt, IDI Composites International, Menzolit, Continental Structural Plastics, Plastic Omnium and Core Molding Technologies are among the major suppliers of SMC.
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The study includes a forecast for the growth opportunities in the global SMC market by end-use industry, fiber, resin and region as follows:
By end-use Industry [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- Transportation
- Electrical & Electronics
- Construction
- Others
By fiber [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- Glass Fiber
- Carbon Fiber
By resin [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- Polyester
- Vinylester and Others
By region [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
- North America
- Europe
- APAC
- ROW
This 139-page 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 helpdesk@lucintel.com.
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Source: Lucintel