Lucintel, a leading global Management Consulting and market research firm, has analyzed the global sheet molding compound market by various segments and regions, and has compiled a comprehensive research report “Growth Opportunities for the Global Sheet Molding Compound Market 2014-2019: Trends, Forecast, and Market Analysis.”
The global sheet molding compound market is expected to grow at a CAGR of 5.5% during 2014-2019. The major driver of the sheet molding compound market is the increasing focus on lightweight materials in the automotive industry to achieve fuel efficiency. The demand for sheet molding compound is driven by the growth in end user industries, such as, transportation, electrical & electronics, and construction. Asia Pacific is the largest consumer of the sheet molding compound, driven by growth in end user industries in China and India.
This report provides an analysis of the sheet molding compound market including analysis of market trends, competitive landscapes, company profiles, emerging trends, and key drivers of industry growth. The study also includes the global sheet molding compound market forecasts through 2019, segmented by regions:
- North America
- Asia Pacific
- Rest of World
It also presents the global sheet molding compound market segmented by applications:
- Electricals &Electronics
The transportation industry is expected to remain the largest segment in terms of both value and volume during the forecast period. The major driving force behind the growth of the market is the increasing penetration of SMC materials in the automotive industry to reduce the overall weight of the vehicle in order to achieve better fuel efficiency. IDI Composites International, Premix, Menzolit, Magna, Polynt, and Continental Structural Plastics are some of the major producers of sheet molding compound materials for various applications.
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