| Label | US | Canada |
|---|---|---|
| 2019 | 663.69 USD Mn | 85.44 USD Mn |
| 2020 | 652.65 USD Mn | 83.41 USD Mn |
| 2021 | 671.79 USD Mn | 85.22 USD Mn |
| 2022 | 704.01 USD Mn | 88.64 USD Mn |
| 2023 | 739.03 USD Mn | 92.35 USD Mn |
| 2024 | 777.49 USD Mn | 96.43 USD Mn |
| 2025 | 819.96 USD Mn | 100.92 USD Mn |
| 2026 | 868.05 USD Mn | 106.03 USD Mn |
| 2027 | 920.41 USD Mn | 111.56 USD Mn |
| 2028 | 993.2 USD Mn | 119.45 USD Mn |
| 2029 | 1074.8 USD Mn | 128.26 USD Mn |
| 2030 | 1166.93 USD Mn | 138.17 USD Mn |
Data Source: Wantstats Repository
North America is one of the leading regions in terms of the SMC (Sheet Molding Compound) and BMC (Bulk Molding Compound) market, with each country offering unique opportunities and demand in this industry. The demand for SMC and BMC in North America is primarily driven by the growing use of lightweight, high-performance composite materials in various end-use industries such as automotive, aerospace, electrical and electronics, and construction. The United States holds the majority share in the North American SMC and BMC market, accounting for the largest demand among all the countries in the region. This can be attributed to the presence of major manufacturers and suppliers in the country, along with the increasing demand for lightweight and fuel-efficient vehicles in the automotive sector. Moreover, the growing emphasis on sustainable construction practices and the use of advanced materials in the architecture industry is also contributing to the demand for SMC and BMC in the US. Canada is another significant market for SMC and BMC in North America, with a considerable presence of major players in this industry. The increasing demand for lightweight, durable, and corrosion-resistant materials in the construction, transportation, and electrical sectors is driving the market growth in Canada.
Additionally, the country's robust aerospace industry is also creating lucrative opportunities for the SMC and BMC market. Mexico is one of the emerging markets in the North American SMC and BMC industry, driven by the growing automotive sector in the country. The increasing production of lightweight vehicles, coupled with the rising need for energy-efficient materials, is propelling the demand for SMC and BMC in Mexico. Moreover, the country's booming electrical and electronics industry is also expected to contribute to the market growth. Overall, North America offers a thriving market for SMC and BMC, with each country offering unique growth opportunities. The region's advanced infrastructure, coupled with the increasing demand for lightweight and sustainable materials, is expected to drive the market in the coming years. Additionally, the growing trend of electric and hybrid vehicles in the region is also expected to boost the demand for SMC and BMC in North America.
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2024.
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Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Sales Leader, Bamberg
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Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.
North America SMC and BMC Market, By Country
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