Major Factors Affecting SMC market are 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. 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
Download Sample PDF Report https://databridgemarketresearch.com/request-a-sample/?dbmr=global-sheet-molding-compound-smc-market
Key Developments in the Market In August 2018, TEIJIN LIMITED announced an agreement to acquire Inapal Plasticos SA, helping TEIJIN acquire an already established company in the European region providing sheet molding compound (SMC) to the transportation and automobile industry. In January 2017, TEIJIN LIMITED announced that they had completed the acquisition of Continental Structural Plastics Inc. This acquisition is aimed at helping TEIJIN expand its product and service capabilities portfolio to an even broader region.
Top Vendors in Sheet Molding Compound (SMC) Market:
- Polytec Holding AG
- IDI Composites International
- TEIJIN LIMITED
- Premix Inc
- ISCOPE GmbH
- Huayuan Advanced Materials
- Core Molding Technologies
- Changzhou City Jiangshi Composite Technology
- Koninklijke Ten Cate
- SHOWA DENKO K.K.
- China Composites Group Corporation
Market Analysis 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.
By Fiber Type Glass Fiber, Carbon Fiber
By Resin Type Polyester, Vinyl Ester, Others
By Density Low Density, Mid-High Density
By Characteristics Heat Resistant, Flame Resistant, High Dielectric Strength, Corrosion, Others, By Application, Transportation, Electrical & Electronics, Construction, Others
By Geography North America, South America, Europe, Asia-Pacific, Middle East and Africa
Competitive Analysis 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.