PUBLISHER: Grand View Research | PRODUCT CODE: 1530322
PUBLISHER: Grand View Research | PRODUCT CODE: 1530322
Market Size & Trends
The global sheet molding and bulk molding compound market size was valued at USD 3.83 billion in 2023 and is expected to grow at a CAGR of 6.29% from 2024 to 2030. Sheet Molding compound (SMC) and bulk molding compound (BMC) are composite materials made from thermosetting resins, typically polyester, combined with fillers, fiber reinforcements, and other additives. These materials offer exceptional strength-to-weight ratios, corrosion resistance, and design flexibility, making them ideal for automotive, electrical, construction, and aerospace applications.
The growth of SMC and BMC is largely attributed to the automotive industry's increasing focus on reducing vehicle weight to improve fuel efficiency and meet stringent emission regulations. Additionally, the construction sector's demand for durable and lightweight materials is expected to drive further market expansion. The development of advanced SMC and BMC formulations with enhanced properties, such as improved fire resistance and electrical conductivity, is also anticipated to open new avenues for market growth.
Global Sheet Molding And Bulk Molding Compound Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented sheet molding and bulk molding compound market report based on resin type, fiber type, application, and region:
U.S.
Canada
Mexico
Germany
UK
Italy
Spain
France
China
India
Japan
South Korea
Australia
Brazil
Argentina
Saudi Arabia
South Africa