GITNUX MARKETDATA REPORT 2024

Sheet Molding Compound Industry Statistics

The Sheet Molding Compound Industry is expected to experience steady growth over the next few years, driven by increasing demand from various end-use industries such as automotive, electrical, and construction.

With sources from: marketsandmarkets.com, grandviewresearch.com, researchandmarkets.com, idtechex.com and many more

Statistic 1

The use of SMC in the automotive sector helps reduce vehicle weight by up to 40%.

Statistic 2

The SMC market in North America is projected to grow at a CAGR of 3.8% from 2020 to 2027.

Statistic 3

China is the largest producer and consumer of sheet molding compound in the world.

Statistic 4

Lightweight SMC solutions are expected to replace more than 20% of traditional materials used in automotive by 2030.

Statistic 5

About 60% of sheet molding compounds are used in exterior automotive parts.

Statistic 6

Asia Pacific region dominates the SMC market with over 45% market share in 2019.

Statistic 7

The global sheet molding compound (SMC) market size is projected to reach USD 5.12 billion by 2027.

Statistic 8

The automotive industry accounted for over 40% of the SMC market share in 2019.

Statistic 9

Infrastructure development projects in emerging economies are expected to boost the SMC market.

Statistic 10

In 2019, the electrical & electronics segment held 20% of the SMC market.

Statistic 11

Sheet molding compounds require about one-third the energy to manufacture compared to steel.

Statistic 12

The building & construction segment held a 15% market share in the sheet molding compound industry in 2019.

Statistic 13

The SMC market for the aerospace industry is expected to see a significant increase with a CAGR of 5% from 2020 to 2027.

Statistic 14

The sheet molding compound market is expected to grow at a CAGR of 4.2% from 2020 to 2027.

Statistic 15

North America holds a 25% market share in the global sheet molding compound market.

Statistic 16

The growing demand for fuel-efficient vehicles is boosting the SMC automotive segment.

Statistic 17

The recyclable nature of SMC materials is a driving factor for market growth.

Statistic 18

SMC parts can withstand high temperature variations, making them ideal for automotive engine components.

Statistic 19

The European sheet molding compound market is expected to reach USD 1.05 billion by 2025.

Statistic 20

BASF SE, IDI Composites International, and Core Molding Technologies are among the leading companies in the SMC market.

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In this post, we will explore key statistics and trends shaping the sheet molding compound industry. From the significant weight reduction benefits of SMC in the automotive sector to the projected market growth figures and regional market dynamics, these statistics provide valuable insights into the evolving landscape of SMC production and consumption. Stay tuned to gain a deeper understanding of the sheet molding compound industry’s current state and future prospects.

Statistic 1

"The use of SMC in the automotive sector helps reduce vehicle weight by up to 40%."

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Statistic 2

"The SMC market in North America is projected to grow at a CAGR of 3.8% from 2020 to 2027."

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Statistic 3

"China is the largest producer and consumer of sheet molding compound in the world."

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Statistic 4

"Lightweight SMC solutions are expected to replace more than 20% of traditional materials used in automotive by 2030."

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Statistic 5

"About 60% of sheet molding compounds are used in exterior automotive parts."

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Statistic 6

"Asia Pacific region dominates the SMC market with over 45% market share in 2019."

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Statistic 7

"The global sheet molding compound (SMC) market size is projected to reach USD 5.12 billion by 2027."

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Statistic 8

"The automotive industry accounted for over 40% of the SMC market share in 2019."

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Statistic 9

"Infrastructure development projects in emerging economies are expected to boost the SMC market."

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Statistic 10

"In 2019, the electrical & electronics segment held 20% of the SMC market."

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Statistic 11

"Sheet molding compounds require about one-third the energy to manufacture compared to steel."

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Statistic 12

"The building & construction segment held a 15% market share in the sheet molding compound industry in 2019."

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Statistic 13

"The SMC market for the aerospace industry is expected to see a significant increase with a CAGR of 5% from 2020 to 2027."

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Statistic 14

"The sheet molding compound market is expected to grow at a CAGR of 4.2% from 2020 to 2027."

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Statistic 15

"North America holds a 25% market share in the global sheet molding compound market."

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Statistic 16

"The growing demand for fuel-efficient vehicles is boosting the SMC automotive segment."

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Statistic 17

"The recyclable nature of SMC materials is a driving factor for market growth."

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Statistic 18

"SMC parts can withstand high temperature variations, making them ideal for automotive engine components."

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Statistic 19

"The European sheet molding compound market is expected to reach USD 1.05 billion by 2025."

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Statistic 20

"BASF SE, IDI Composites International, and Core Molding Technologies are among the leading companies in the SMC market."

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Interpretation

The statistics paint a promising picture for the sheet molding compound industry, particularly within the automotive sector where significant weight reduction and increased fuel efficiency are driving demand. With key markets in North America, China, and Asia Pacific leading the way, projections indicate substantial growth and adoption of SMC solutions across various industries such as aerospace, building & construction, and electrical & electronics. The recyclable and energy-efficient nature of SMC materials, coupled with their ability to withstand high temperatures, position them as a sustainable and versatile choice for manufacturers. As infrastructure development projects in emerging economies continue to expand, alongside the increasing demand for fuel-efficient vehicles globally, the future looks bright for the sheet molding compound industry.

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