A brief overview of various compression and injection‐compression molding technologies for manufacturing of composites is presented. Important aspects involved in molding are considered, including molding schemes and various stages of processes, various compounds and ingredients used for their preparation, and compounding methods utilized. A complex rheology of prepared compounds and kinetics of curing reactions occurring during manufacturing of products are considered. Some modeling aspects of compression molding processes are elucidated, including the mold filling and fiber orientation. Various products made by compression molding of sheet molding compounds, bulk molding compounds, glass‐mat‐reinforced thermoplastics, and long fiber‐reinforced thermoplastics are presented. Finally, existing and future possibilities and challenges in a further advancement of technologies for industrial applications are discussed.