Worldwide Sheet Molding Compound (SMC) Market Insights: Industry Size, Growth Analysis and Forecast
Report ID : 1362737 | Published : May 2025 | Study Period : 2023-2033 | Format : PDF + Excel
The market size of the Sheet Molding Compound (SMC) Market is categorized based on Type (Polyester-based SMC, Vinyl Ester-based SMC, Epoxy-based SMC) and Application (Automotive, Electrical & Electronics, Construction, Aerospace, Consumer Goods) and End-User Industry (Transportation, Building & Construction, Electrical, Industrial, Healthcare) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).
In 2023, the Sheet Molding Compound (SMC) Market size was $1.5 billion and is projected to grow to $2.8 billion by 2033, registering a CAGR of 6.5% from 2024 to 2033. This report includes multiple segments and provides an analysis of key trends and factors playing a substantial role in the market.
The Sheet Molding Compound (SMC) market has now developed to be one of the key sections of the composite materials industry, as a result of the SMC’s application in the automotive sector and other industries requiring lightweight and durable parts. The SMC is a pre-impregnated composite material with thermosetting resins and fibrous reinforcements which are used in the construction and electrical industries. As manufacturers look for new materials to improve performance and lower production costs, SMC is one of the materials which can meet these needs.
There has been notable growth in the SMC market recently due to new technological innovations in manufacturing processes and a broader scope of applications. In addition to SMC’s lightweight characteristic, its remarkable mechanical attributes make the compound a popular candidate for fabricating intricate components with high strength-to-weight ratios. SMC's ability to be recycled also contributes to the increase in demand when coupled with the rising focus on sustainability and environmental protection. The market is expected to transform instead of simply growing, since companies looking to shift this paradigm will innovate to solve modern manufacturing and consumer issues.
| ATTRIBUTES | DETAILS |
| STUDY PERIOD | 2023-2033 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2033 |
| HISTORICAL PERIOD | 2023-2024 |
| UNIT | VALUE (USD BILLION) |
| KEY COMPANIES PROFILED | Scott Bader Company Ltd., BASF SE, Royal DSM N.V., Sika AG, Hexion Inc., Polynt S.p.A., Mitsubishi Chemical Corporation, AOC Resins, Ashland Global Holdings Inc., Momentive Performance Materials Inc., Wacker Chemie AG |
| SEGMENTS COVERED |
By Type - Polyester-based SMC, Vinyl Ester-based SMC, Epoxy-based SMC
By Application - Automotive, Electrical & Electronics, Construction, Aerospace, Consumer Goods
By End-User Industry - Transportation, Building & Construction, Electrical, Industrial, Healthcare
By Geography - North America, Europe, APAC, Middle East Asia & Rest of World. |
Sheet Molding Compound (SMC) Market Dynamics
The Sheet Molding Compound (SMC) Market is undergoing significant changes due to various dynamic factors. This section delves into the key drivers, restraints, opportunities, and challenges that are shaping the market landscape.
Market Drivers
- Technological Advancements
- Increasing Consumer Demand
- Regulatory Support
- Globalization
Market Restraints
- High Operational Costs
- Regulatory Challenges
- Market Saturation
Market Opportunities
- Emerging Markets
- Product Innovation
- Strategic Partnerships
Market Challenges
- Technological Disruptions
- Supply Chain Issues
- Changing Consumer Preferences
Sheet Molding Compound (SMC) Market Segmentations
Market Breakup by Type
- Overview
- Polyester-based SMC
- Vinyl Ester-based SMC
- Epoxy-based SMC
Market Breakup by Application
- Overview
- Automotive
- Electrical & Electronics
- Construction
- Aerospace
- Consumer Goods
Market Breakup by End-User Industry
- Overview
- Transportation
- Building & Construction
- Electrical
- Industrial
- Healthcare
Market Breakup by Region
North America
- United States of America
- Canada
- Mexico
Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Others
Asia Pacific
- China
- Japan
- India
- ASEAN
- Australia
- Others
Latin America
- Brazil
- Argentina
- Mexico
- Others
Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Nigeria
- South Africa
- Others
Key Players in the Sheet Molding Compound (SMC) Market
This report provides an in-depth analysis of both established and rising industry participants. It provides broad lists of important companies organized by the types of products they offer and other market-related factors. In addition to characterizing these companies, the report contains the year each player entered the market, which is useful for research analysis by the study's analysts.
- Scott Bader Company Ltd.
- BASF SE
- Royal DSM N.V.
- Sika AG
- Hexion Inc.
- Polynt S.p.A.
- Mitsubishi Chemical Corporation
- AOC Resins
- Ashland Global Holdings Inc.
- Momentive Performance Materials Inc.
- Wacker Chemie AG
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