According to a new market report published by Lucintel, the future of the global low density SMC (Sheet Molding Compound) market looks promising with opportunities in various automotive applications, such as hoods, decklids, fenders, bumpers, and body panels. The global low density SMC market is expected to reach an estimated $910.1 million by 2027 with a CAGR of 11.3% from 2021 to 2027. The major drivers for this market are growth in automotive production and increasing use of lightweight materials in different automotive applications.
In this market, glass fiber and carbon fiber are the major reinforcement materials. Lucintel forecasts that the 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. Carbon fiber is expected to witness the highest growth over the forecast period.
Within the low density SMC market, 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.
Europe is expected to remain the largest region and witness the highest growth over the forecast period due to due to higher acceptance level of composites materials and growth in automotive application..
Emerging trends, which has a direct impact on the dynamics of the industry, includes the development of ultra low density SMC and development of low density SMC for automotive structural applications. Polynt, Continental Structural Plastics, Core Molding Technology, Menzolit, and IDI Composites are among the major suppliers of low density SMC.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global low density SMC market by automotive application, fiber type, resin type, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Low Density SMC Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global low density SMC market by automotive application, fiber type, resin type and region as follow:
By Automotive Application [Value ($M) and Volume (KT) shipment analysis for 2016 – 2027]:
Hoods
Deck lids
Fenders
Bumpers
Body panels & Others
By Resin type [Value ($M) and Volume (KT) shipment analysis for 2016 – 2027]:
Polyester
Epoxy
Vinyl Ester
By Fiber Type [Value ($M) and Volume (KT) shipment analysis for 2016 – 2027]:
By Region [Value ($M) and Volume (KT) shipment analysis for 2016 – 2027]:
North America
Europe
Asia Pacific
The Rest of the World
This 192-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link www.lucintel.com/low-density-smc-market.aspx helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the global low density SMC market by automotive application (deck lids, fenders, bumpers, hoods, body panels and others), fiber type (glass fiber and carbon fiber), resin type (polyester, vinyl ester and epoxy), 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 5 years in this market?