Sheet Molding Compound and Bulk Molding Compound Market: Growth Trends, Forecast and Competitive Analysis
Sheet molding compounds (SMC) or sheet material compounds are malleable sheet material 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 highlighting drivers, trends, and opportunities for the period of 2018 to 2023 (forecast period). Market Scope The global sheet molding compound market size can reach a value of USD 2,042.4 million by 2023. 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 has led to the manufacture of lightweight componen