The global demand for SMC increased by 2.1% in Q2 2022 as compared to Q1 2022, driven by its growing demand in various end use industries, such as electrical and home appliances. In Q2 2022, SMC prices hiked by 5% as compared to Q1 2022. SMC price increase has been driven by the gap generated between supply and demand constraints, high raw material price, and energy cost.
In Q3 2022, the global demand for SMC is forecast to increase by 1.4% from Q2 2022 due to a rise in demand in various end use industries, such as electrical and others. SMC price is forecast to drop by 3.6% in Q3 2022 due to the decrease in energy and raw material prices. The figure below depicts the change in demand and price of SMC over the past five quarters. The data also provides forecast for Q3 of 2022 as shown below.
Figure: Global Quarterly Change in SMC Shipment and Price Trends
The SMC industry witnessed growth during Q2 2022, and it is expected to grow further in Q3 2022. Downstream consumption continued to recover, which resulted in increased demand for SMC products. The SMC price increased in Q2 2022 from Q1 2022 due to the imbalance between the supply and demand across different industries.
In Q2 2022, the European SMC market witnessed growth from Q1 2022, while it is expected that the demand will continue to increase in Q3 2022 as well. The SMC market grew due to strong demand across most industries, such as home appliances, electrical, and others. SMC price is expected to soften in Q3 2022 due to decrease in raw material price.
In Q2 2022, demand for SMC grew, influenced by growing demand in various end use industries, such as electrical and home appliances. SMC demand will continue to rise in Q3 2022 due to growth in consumption.
The price and demand analysis on above is published monthly for various regions. Lucintel analysts collect supply, demand and price data from various suppliers and consumers on a monthly basis and also analyzes news on supply and demand issues, production, and price trends. This allows Lucintel to publish unbiased assessments on price and demand movements to help you make confident business decisions on your negotiation or business issues.
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