Published on : Sep 27, 2019
Albany, New York, September 27, 2019: The demand for sheet molding compounds is growing rapidly and is estimated to grow to a value of ~USD 2 billion through 2019. Applications in the massive global automotive industry is estimated to remain the key driver being the growth of the industry. In addition, sheet molding compounds will also gain substantial traction with new applications in the consumer goods sector.
An increasing number of manufacturers in the automotive industry are seeking light weight, solid materials and are consequently likely to reduce their use of steel in favor of sheet molding compounds in the near future.
These insights are derived from the intelligence report, titled, “Global Market Study on Sheet Molding Compounds: ‘Compact’ Devices and ‘Lightweight’ Vehicles to Drive Sales” which has been added recently to the Market Research Hub’s (MRH) ever-expanding repository.
Sheet Molding Compounds to be challenged by Light-fiber Injection
The global sheet molding compound market is likely grow at a steady rate of ~6 per cent CAGR, through the end of the forecast period in 2029. However, this growth is also expected to face challenges owing to the increased availability of feasible alternatives such as light fiber injection (LFI). LFI is known for its lower production costs. In addition the material is just as light as sheet molding compounds.
Consequently, the demand for sheet molding compounds could decline in the years ahead with the aim of boosting the economic feasibility of end use operations. In addition, the growth of sheet molding compounds will also decrease owing to the high costs associated with carbon fiber.
Sheet Molding Compounds Market: Report Content
The report comprises an analysis to support the report on the sheet molding compounds market. In addition, the report focuses on the various facets in the market that are expected to have an impact on the sheet molding compounds market in various scenarios. Some of these factors include, drivers, restraints, opportunities, and trends. Further, the report also focuses on the segmentation of the market that provides an analysis on sheet molding compounds.
Furthermore, the report accurately describes benchmarking standards that are aimed at assessing product performance, solutions, and business processes. Benchmarking also focuses on the performances of rival companies, with the aim of improving on performance.
The analysis of the competitive scenario of the sheet molding compounds market counts on Porters’ Five Force Analysis. It offers an analysis on the strategies of the players in the sheet molding compounds market. The business strategies depends upon product portfolios, company profile, recent developments, key differentiation, and SWOT analysis.
Sheet Molding Compounds Market: Research Methodology
The report on sheet molding compounds relies on primary research and secondary research that offers intelligence insights on the market. Nevertheless, the report focuses on authentic and unbiased sources that have had a substantial impact in the preparation of the report. On the other hand, the report also relies upon primary sources that are developed through analysis from experts, telephonic interviews, and detailed analysis from analysts, and surveys. In addition, the secondary sources of data incorporates EC filings, trade journals, press releases, databases and government websites.
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