Lucintel's latest market report analyzed that sheet molding compound provides attractive opportunities in the transportation, electrical & electronics, and construction industries. The sheet molding compound market is expected to reach $6.7 billion by 2028 with a CAGR of 4.8%. In this market, transportation is the largest segment by end use, whereas glass fiber is largest by fiber type. The increasing penetration of carbon fiber-based SMC, development of low density SMC, and introduction of Direct-SMC provides strategic growth path in this market.
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Based on end use, the sheet molding compound market is segmented into transportation, electrical and electronics, construction, and others. The transportation segment accounted for the largest share of the market in 2022 and is expected to register the highest CAGR during the forecast period, due to growing automotive production and increasing focus on lightweight materials.
Browse in-depth TOC on “Sheet Molding Compound Market”
97 – Tables
140 – Figures
205 – Pages
The Sheet Molding Compound Market is marked by the presence of several big and small players. Some of the prominent players offering sheet molding compound include Continental Structural Plastics (Teijin), Polynt-Reichhold, Premix, Polytec, IDI Composites, Core Molding Technologies, and Lorenz.
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