According to the recent study the low density SMC market is projected to reach an estimated $536.8 million by 2028 from $390.4 million in 2022, at a CAGR of 5.5% from 2022 to 2028. Growth in this market is primarily driven by automotive production and increasing use of lightweight materials in different automotive applications.
Browse 90 figures / charts and 122 tables in this 192 -page report to understand trends, opportunities and forecast in 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).
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“Hood market is expected to remain the largest segment during the forecast period.”
Based on automotive application, the low density SMC market is segmented into deck lids, fenders, bumpers, hoods, body panels and others. Lucintel forecasts that the hood market is expected to remain the largest segment due to increasing demand for lightweight and non-corrosive materials.
“Within the low density SMC market, the glass fiber segment is expected to remain the largest fiber type”
Based on fiber type the glass fiber segment is expected to witness the highest growth 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 will dominate the low density SMC market in near future”
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.
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Major players of low density SMC market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Core Molding Technologies, Continental Structural Plastics, IDI Composites International, Polynt SPA, Premix Inc., and Menzolit GmbH are among the major low density SMC providers.
This unique 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 https://www.lucintel.com/low-density-smc-market.aspx or [email protected]