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Sheet Molding Compound Market: Global Opportunity and Industry Forecast, 2020–2027
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COVID-19
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Request Now !Sheet Molding Compound Market Analysis 2020-2027:
Sheet molding compound (SMC) is a fiber protected polymer matrix composite material, which offers a wide range of beneficial properties that are demanded by various modern applications. SMCs are used in various applications in the automotive industry such as hoods, deck-lids, bonnets, front ends, and spoilers. They exhibit high-volume production ability, superior part reproducibility, and are cost-effective in nature. Factors such as lightweight and durability make bulk molding and sheet molding compounds preferred by many manufacturers and leading players.
Market scope and structure analysis
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Value (USD) |
Segments covered | Type, End Use, and Region |
Regions covered | North America (U.S., Canada, and Mexico) Europe(Germany, France, Italy, Spain, UK, and Rest of Europe) Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific) LAMEA (Brazil, UAE, Saudi Arabia, South Africa, and Rest of LAMEA) |
Companies covered |
|
Sheet molding compound market by type
- Glass Fiber
- Carbon Fiber
Sheet molding compound market by end use
- Electronic & Electrical Industry
- Automotive Industry
- Construction Industry
- Consumer Good
- Healthcare
- Aviation & Defense
- Other
COVID-19 impact analysis
Pandemic situation have both short-term as well as long-term consequences on the market. The outbreak of COVID-19 has largely affected the sheet molding market. The shutdown of manufacturing events as a part of nationwide lockdown has led to huge decline in the automotive ales. Nonfunctional nature of key sheet molding compound end users such as electronics, aviation, and construction has decreased the consumption of end products.
Market scenario analysis
Sheet molding compounds offer superior features compared to other traditional compounds, which are made up of iron and steel. The global market for sheet molding compound is expected to develop with the launch of superior quality, lightweight, and more durable sheet molding compounds. Mercedes-AMG GT C Roadster features a lightweight boot-lid that is made from SMC. Moreover, increase in standard of living and rise in demand for advanced vehicles are expected to boost the demand for molding compound and bulk molding compounds. In addition, rapid growth in the transportation industry is expected to fuel the global sheet molding compound market growth in the future.
Market drivers and restraints
Sheet molding compounds are highly utilized in the transportation application due to properties such as lightweight and good mechanics. They are fire, corrosion, and stain resistant and exhibit electrical insulation. As a result of many unique perceived benefits, SMC and BMC are being preferred over traditional materials such as steel, iron, and aluminum. Moreover, with rise in demand for solid compound and lightweight materials, automobile manufacturers are likely to reduce their dependence on steel and are shifting toward the adoption of sheet molding compounds. In addition to the inherent limitations of metals as well as increase in prices, many manufacturers use thermoset composites as a substitute for metal for high-performance applications, which, in turn, boosts the growth of the SMC market. The directly proportional relationship between the weight of the materials used in manufacturing and consumption of fuels have shifted the preference of many manufacturers toward lightweight materials. However, substitutes such as light fiber injection (LFI), which is economical and exhibits same properties of SMC is expected to hinder the market growth. Moreover, rise in price of carbon fiber in the future is expected to challenge the global market growth.
Regional insights
Asia-Pacific is the market leader in the sheet molding compound market. China is one of the primary contributors to the market growth. This is attributed to the fact that China is home to a large number of electrical and automobile manufacturers due to low raw material prices. Europe is the next potential region in the global sheet molding compound market, followed by North America.
Key benefits of the report
- This report presents the analytical depiction of the global sheet molding compound industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global market growth scenario.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global sheet molding compound market research report:
- Which are the leading market players active in the global sheet molding compound market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develops analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth and forecasts
Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
- Chief executives and VPs of leading corporations specific to industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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