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Low Density SMC Market Trends and Forecast

The future of the global low density SMC (Sheet Molding Compound) market looks promising with opportunities in various hoods, deck lids, fenders, bumpers, and body panels applications. The global low density SMC market is expected to reach an estimated $536.8 million by 2028 with a CAGR of 5.5% 2022 to 2028. The major drivers for this market are growth in automotive production and increasing use of lightweight materials in different automotive applications.
  • Lucintel forecasts that hood will remain the largest automotive application and is also expected to witness the highest growth over the forecast period due to increasing demand for lightweight and non-corrosive materials. Hood is expected to witness the highest growth over the forecast period.
  • Glass fiber will remain the largest segment over the forecast period due to its properties like high strength/weight, phenomenal impact resistance, good electrical properties, resistance to moisture, and excellent outdoor weathering.
  • North America is expected to remain the largest region over the forecast period due to higher acceptance level of composites materials and growth in automotive application. APAC is expected to witness highest growth over the forecast period.