blogoverfuture

  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 components will lead to constant demand in the global market. Initiatives by SMC manufacturers for creating guidelines for ensuring sustainable practices and encouragement of innovation can positively impact the market. The role of these compounds in lowering vehicle production costs will be beneficial to the market. The emergence of low-volatile organic compounds (VOC) or no-VOC formulations has led to changes in formulations of SMCs and will make an indelible impact during the forecast period. Sample...