The future of the global SMC market looks good with opportunities in transportation, electrical & electronics, and construction industries. The global SMC market is expected to reach an estimated $3.2 billion by 2021 and it is forecast to grow at a CAGR of 4.3% from 2016 to 2021. The major drivers for market growth are growing end-use industries and increasing demand for lightweight materials.
Emerging trends which have a direct impact on the dynamics of the industry include the increasing penetration of carbon fiber-based SMC, increasing focus of major player towards low density SMC, and introduction of direct-SMC.
The study includes a forecast for the growth opportunities in the global SMC market by end use industry, fiber, resin, and region as follows:
By end use Industry [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
Electrical & Electronics
By fiber [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
By resin [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
Vinylester and Others
By region [Volume (M lbs) and Value ($ Million) from 2010 to 2021]:
Polytec, Polynt, IDI Composites International, Menzolit, Continental Structural Plastics, Plastic Omnium, and Core Molding Technologies are among the major suppliers of SMC.
On the basis of comprehensive research, Lucintel forecasts that the transportation and construction segments are expected to show above average growth during the forecast period.
Within the global SMC market, the transportation segment is expected to remain the largest segment by value and by volume. Expected growth in automotive production and increased focus on lightweight materials by automotive OEMs are the major driving forces that will drive the growth over the forecast period. Pickup truck boxes, deck lid, fender, hood, and bumpers are some of the major applications of SMC in the transportation industry.
The Asia Pacific is expected to remain the largest region and expected to witness highest growth rate during the forecast period due to growing demand from transportation and other end use industries.
This report addresses the following key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global SMC market by end use industry (transportation, electrical and electronics, construction, and others), fiber (glass and carbon), resin (polyester and vinyl ester and others), and region (North America, Europe, Asia Pacific (APAC), and the Rest of the World)?
Q.2. Which products segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being taken by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share due to product substitution?
Q.11. What M&A activity has occurred in the last 5 years?