“Data Bridge Market Research” has recently added a concise research on the Sheet Molding Compound (SMC) Market to depict valuable insights related to significant market trends driving the industry. The report features analysis based on key opportunities and challenges confronted by market leaders while highlighting their competitive setting and corporate strategies for the estimated timeline. Some are the key & emerging players that are part of coverage and have being profiled are Polytec Holding AG, IDI Composites International, Polynt, TEIJIN LIMITED, Premix Inc., ISCOPE GmbH, MENZOLIT, Huayuan Advanced Materials Co.Ltd, Core Molding Technologies
Global Sheet Molding Compound (SMC) Market is expected to rise from its initial estimated value of USD 2.81 billion in 2018 to an estimated value of USD 3.55 billion by 2026, registering a CAGR of 2.95% in the forecast period of 2019-2026. This rise in market value can be attributed to the rising demand from the applicable industries for bio-based materials and compounds.
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Segmentation: Global Sheet Molding Compound (SMC) Market
- Global Sheet Molding Compound (SMC) Market, By Fiber Type (Glass Fiber, Carbon Fiber)
- Resin Type (Polyester, Vinyl Ester, Others)
- Density (Low Density, Mid-High Density)
- Characteristics (Heat Resistant, Flame Resistant, High Dielectric Strength, Corrosion, Others)
- Application (Transportation, Electrical & Electronics, Construction, Others)
- Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Competitive Analysis: Global Sheet Molding Compound (SMC) Market
Global sheet molding compound (SMC) market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of sheet molding compound (SMC) market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
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Market Drivers:
- Increased focus on lightweight materials due to the focus on improving fuel efficiency for vehicles is expected to drive the market growth
- Growing demand for bio-based materials and compounds is also expected to drive the market growth
Market Restraints:
- High and fluctuating cost of raw materials as compared to traditional materials is expected to restrain the market growth
- Complications and issues of recycling with sheet molding compounds (SMC) is also expected to restrain the market growth
Top Competitors of Market:
Few of the major competitors currently working in the sheet molding compound (SMC) market are Polytec Holding AG, IDI Composites International, Polynt, TEIJIN LIMITED, Premix Inc., ISCOPE GmbH, MENZOLIT, Huayuan Advanced Materials Co.Ltd, Core Molding Technologies, Changzhou City Jiangshi Composite Technology Co.Ltd., Koninklijke Ten Cate bv, SHOWA DENKO K.K., China Composites Group Corporation Ltd., and ASTAR.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved
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