Sheet Molding Compound Market: Trends, Opportunities and Competitive Analysis [2023-2028]

SMC Market Trends and Forecast

The future of the global SMC market looks promising with in the transportation, electrical & electronics, and construction industries. The global SMC market is expected to reach an estimated $6.7 billion by 2028 with a CAGR of 4.8% from 2022 to 2028. The major growth drivers for this market are increasing use of lightweight materials in transportation, and performance benefits, such as lower corrosion in construction and higher thermal resistance in E&E industries.

SMC Market by End Use, Fiber Type, Resin Type, and Density

Emerging Trends in the SMC Market

Emerging trends which have a direct impact on the dynamics of the industry includes the increasing penetration of carbon fiber-based SMC, development of low density SMC, and introduction of Direct-SMC. Continental Structural Plastics (Teijin), Polynt-Reichhold, Premix, Polytec, IDI Composites, Core Molding Technologies, and Plastic Omnium are among the major suppliers of SMC.

A total of 140 figures / charts and 97 tables are provided in this 205-page report to help in your business decisions.

SMC Market by Segment

The study includes a forecast for the global SMC market by end use, fiber type, resin type, density, and region as follows:

SMC Market by End Use [Value ($M) and Volume (M lbs) shipment analysis for 2017 - 2028]:

• Transportation
• Electrical and Electronics
• Construction
• Others

SMC Market by Fiber Type [Value ($M) and Volume (M lbs) shipment analysis for 2017 - 2028]:

• Glass Fiber
• Carbon Fiber

SMC Market by Resin Type [Value ($M) and Volume (M lbs) shipment analysis for 2017 - 2028]:

• Polyester
• Vinyl Ester and Others

SMC Market by Density [Value ($M) and Volume (M lbs) shipment analysis for 2017 - 2028]:

• Low Density
• Mid and High Density

SMC Market by Region [Value ($M) and Volume (M lbs) shipment analysis for 2017 - 2028]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of SMC Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies SMC companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the SMC companies profiled in this report includes.

• Continental Structural Plastics (Teijin)
• Polynt-Reichhold
• Premix
• Polytec
• IDI Composites
• Core Molding Technologies
• Lorenz

SMC Market Insight

Lucintel forecasts that In this market, transportation will remain the largest end use and it is also expected is expected to witness the highest growth in the forecast period supported by growing automotive production and increasing focus on lightweight materials. Pickup truck boxes, deck lids, fenders, hoods, and bumpers are some of the major applications of SMC in the transportation industry.

Glass fiber based SMC will remain the largest segment by both value and volume. Carbon fiber based SMC is expected to witness the highest growth in the forecast period supported by its high performance characteristics.

Asia Pacific is expected to remain the largest market by value and volume and it is expected to witness the highest growth over the forecast period because of growing demand from transportation and other end uses.

Features of SMC Market

• Market Size Estimates: SMC market size estimation in terms of value ($M) and (M lbs).

• Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.

• Segmentation Analysis: Market size by end use, fiber type, resin type, density, and region

• Regional Analysis: SMC market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.

• Growth Opportunities: Analysis of growth opportunities in different end use, fiber type, resin type, density, and region for the SMC market.

• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the SMC market.

• Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the SMC market size?

Answer:The global SMC market is expected to reach an estimated $6.7 billion by 2028.

Q2. What is the growth forecast for SMC market?

Answer:The SMC market is expected to grow at a CAGR of 4.8% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the SMC market?

Answer: The major growth drivers for this market are increasing use of lightweight materials in transportation, and performance benefits, such as lower corrosion in construction and higher thermal resistance in E&E industries.

Q4. What are the major applications or end use industries for SMC?

Answer:Transportation and Electrical and Electronics are the major end uses for SMC.

Q5. What are the emerging trends in SMC market?

Answer:Emerging trends which have a direct impact on the dynamics of the industry include the increasing penetration of carbon fiber-based SMC, development of low density SMC, and introduction of direct-SMC.

Q6. Who are the key SMC companies?

Answer:Some of the key SMC companies are as follows:

• Continental Structural Plastics (Teijin)
• Polynt-Reichhold
• Premix
• Polytec
• IDI Composites
• Core Molding Technologies
• Lorenz
• Menzolit
• NingBo Group
• Changzhou City Jiangshi Composite Technology Co. Ltd.

Q7. Which SMC fiber type segment will be the largest in future?

Answer: Lucintel forecasts that glass fiber based SMC will remain the largest segment by both value and volume. Carbon fiber based SMC is expected to witness the highest growth in the forecast period supported by its high performance characteristics.

Q8. In SMC market, which region is expected to be the largest in next 5 years?

Answer:Asia Pacific is expected to remain the largest region and witness the highest growth over next 5 years.

Q9. Do we receive customization in this report?

Answer:Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising potential, high growth opportunities for the global SMC market by end use (transportation, electrical and electronics, construction, and others), fiber type (glass fiber and carbon fiber), resin type (polyester, vinyl ester and others), density (low density, and mid and high density), and region (North America, Europe, Asia Pacific and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which regions will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
• Q.5. What are the business risks and threats to the market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
• Q.10. What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
• Q.11. What M & A activities have taken place in the last five years in this market?