United States SMC Materials Market was valued at USD 0.6 Billion in 2022 and is projected to reach USD 1.1 Billion by 2030, growing at a CAGR of 7.3% from 2024 to 2030.
The US SMC Materials Market is currently experiencing rapid growth due to its extensive use across various industries. SMC, or Sheet Molding Compound, is a high-performance composite material that has found significant application in industries like automotive, aerospace, and electrical. These materials are known for their excellent strength-to-weight ratio, durability, and resistance to heat and chemicals, which makes them indispensable for the manufacturing of high-quality parts and components.
Automotive manufacturers, in particular, are driving the demand for SMC materials. With the growing need for lightweight yet strong components to improve fuel efficiency and vehicle performance, SMC is emerging as the preferred choice for parts such as body panels, hoods, and bumpers. These materials help reduce the overall weight of vehicles, thus contributing to lower carbon emissions and improved fuel efficiency.
Another sector fueling the demand for SMC materials is aerospace. SMC is being used to produce lightweight, high-strength parts for aircraft, where minimizing weight without compromising on strength is critical. The aerospace industry requires materials that can withstand extreme temperatures, pressures, and environmental conditions, and SMC materials meet these stringent demands.
In the electrical industry, SMC materials are utilized in the production of insulators, transformers, and other high-performance electrical components. The materials' electrical insulating properties, along with their heat resistance, make them ideal for this sector. As the demand for reliable and efficient electrical components grows, the role of SMC materials becomes even more essential.
Additionally, the increasing trend toward sustainability has influenced the growth of the SMC materials market. As industries seek greener alternatives and the ability to produce recyclable and reusable materials, SMC provides an ideal solution. This trend is expected to continue, as environmental concerns drive the demand for sustainable material solutions in various sectors.
The US SMC Materials Market is projected to grow steadily, with increasing innovations and applications being introduced regularly. The adaptability of SMC materials across industries makes them a versatile choice, ensuring their continued demand and relevance in the future. As industries strive to meet both performance and sustainability goals, SMC materials will remain a key part of the manufacturing landscape.
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Sumitomo Electric Industries
Ltd.
H�gan�s AB
GTB Components Ltd
Horizon Technology Inc.
GKN Powder Metallurgy
Daido Steel Co.
Ltd.
PMG Holding GmbH
Mitsubishi Materials Corporation
Hitachi Metals Ltd
Steward Advanced Materials Inc
MMG Canada Limited
VACUUMSCHMELZE GmbH & Co. KG
Rio Tinto
Fluxtrol Inc.
ThyssenKrupp Electrical Steel India Private Limited
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the US SMC Materials Market
Polyester SMC
Vinyl Ester SMC
Epoxy SMC
Others
Automotive
Electrical & Electronics
Building & Construction
Aerospace
Wind Energy
Marine
Others
Transportation
Consumer Goods
Industrial Equipment
Healthcare
Telecommunications
Compression Molding
Transfer Molding
Injection Molding
Others
Glass Fiber
Carbon Fiber
Natural Fiber
Others
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the US SMC Materials Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. US SMC Materials Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. US SMC Materials Market, By Type
6. US SMC Materials Market, By Application
7. US SMC Materials Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. US SMC Materials Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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