Sheet molding compound (SMC) is a process
& reinforced composite material. The composite is a “ready to mold” carbon
or glass fiber reinforced polyester material mainly used in compression
molding. It is a mixture of resins, inert fillers, and fiber reinforcements. It
is a fiber-reinforced polymer compound. It is often used in applications for
instance construction, transportation and among others, pertaining to its high
strength & density ratio and corrosion resistance.
The key benefits are high volume production
ability, cost effective, excellent part reproducibility, weight reduction and
high flexibility.
According to study, “Sheet
Molding Compound (SMC) Market Research Report by Type (General Purpose,
Flame Resistance, Corrosion Resistance, Electronic Insulators, Others),
Application (Automotive, Building & Construction, Electrical &
Electronics, Others), and Region-Global Forecast to 2023” the key companies
operating in the Sheet Molding Compound (SMC) market are Zoltek Corporation,
IDI Composites International, DIC Corporation, Menzolit, Polynt, Core Molding
Technologies, Changzhou Tianma Group Co., Ltd., Magna, Premix, ASTAR, Showa
Denko K.K., Zhejiang Sida New Materials Co., Ltd., Devi Polymers Private
Limited, Molymer SSP Co., Ltd., Lorenz, Yueqing SMC & BMC, Tianma Group,
MCR, BI-GOLD New Material, East China Sea Composite Materials, Huamei New
Material, SIDA Composites, Continental Structural Plastics Inc., Jiangshi
Composite, Huayuan Group, Fonda Thermoset Plastic.
Based on type, SMC market is segmented into
flame resistance, corrosion resistance, electronic insulators, general purpose
and others. Based on fiber type, market is segmented into carbon fiber and
glass fiber. Based on resin type, market is segmented into Vinyl ester,
Polyester, Epoxy and others. Based on density type, market is segmented into
low density and mid & high density. Based on application, market is
segmented into pickup truck boxes, fenders, hoods, deck lids, and bumpers. In
addition, based on end-user, market is segmented into automotive, building
& construction, electrical & electronics and others. Construction
segment is projected to witness the highest growth for SMC owing to growth in
infrastructural development and increase in demand for lightweight &
non-corrosive materials during the forecast period.
The SMC market is driven by growth in
consumption in modern construction projects, followed by rise in demand for
lightweight, fuel-efficient, and electric vehicles. However, high cost of SMC
and increase in problems pertaining to the recyclability of SMC may impact the
market. Moreover, growth in demand for automobiles in emerging economies is a
key opportunity for market. Furthermore, rise in penetration of carbon
fiber-based SMC, introduction of Direct-SMC and growth in development of low
density SMC are emerging trends for market.
Based on geography, the Asian-Pacific region
holds major share in SMC market owing to rapid industrialization, favorable
government support to electrical & electronics industry to surge
production, presence of a numerous electrical & automobile manufacturers
and robust demand for automobiles in the region. The North-American and
European regions expected to witness higher growth rate due to growth of the
electrical & electronics and transportation and industries over the
forecast period. It is predictable that future of the market will be bright as
a result of rise in urbanization, growth in disposable income in the developing
countries and robust population during the forecast period.
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