Sheet Molding Compound industry | 2021 to 2030 – Revenue, Average Product Price and Market Size Shares of Key Players
Sheet molding compounds (SMC) or sheet material compounds are malleable sheet materials produced from compression or injection molding. Properties of electrical insulation, surface appearance, and superior mechanical properties will fuel the demand for this process. The global sheet molding compound market report by Market Research Future (MRFR) contains an in-depth analysis of the industry as well as highlights drivers, trends, and opportunities for the period 2021 to 2030 (forecast period). Market Scope The global sheet molding compound market size can reach a value of USD 2,042.4 million by 2030. It is predicted to display a CAGR of 4.79% over the forecast period. It can find massive demand and growth owing to its utilization for the production of industrial parts in various end-use industries. Production of composite materials is predicted to work in favor of the market. Emission regulations for the automotive industry which have led to the manufacture of lightweight components