Low-Density SMC Market is Expected to Register a Considerable Growth by 2026
May 04, 2022
May 04, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Low-Density SMC Market.
It was estimated prior to this unanticipated outbreak that the Low-Density SMC Market is projected to grow at an impressive CAGR of 8.5% during 2021-2026. Low-density SMCs have a decade-old history and are a unique category of SMCs. Low-density SMCs are developed with the sole aim to develop parts with reduced weight. Generally, glass bubbles, also known as hollow glass microspheres, are added to the SMCs in order to reduce the weight. Today, most of the major companies are offering low-density SMCs in the range of 1.0-1.5 SG (specific gravity) grades, a significant weight saving of 1.9 SG grades of traditional SMCs. For instance; Continental Structural Plastics developed TCA (Tough Class A) Ultra Lite, a low-density SMC with 1.2 SG grades, offering about 28% weight reduction than its mid-density TCA lite (1.6 SG grades) and about 43% lower than that of traditional SMCs (1.9 SG grades). As a result, there has been an ongoing transition from traditional SMCs to low-density SMCs.
For a more detailed breakdown of the COVID-19 impact on the Low-Density SMC Market, request a free sample of the report here:
The onset of the pandemic acted like a tsunami for several end-use industries whose impact has been felt on the demand for SMCs. Low-density SMCs, a small and unique category of SMCs, also could not escape from this and witnessed a double-digit decline amid the pandemic, mainly due to the plunge in automobile production. However, the recovery trajectory is anticipated to be faster than the overall SMCs market, mainly attributed to the increased acceptance of low-density SMCs paired with an expected recovery in the automotive industry.
Click here for ToC of the report:
https://www.stratviewresearch.com/toc/1158/low-density-SMC-(sheet-molding-compound)-market.html
Segment Analysis
Based on the application type, the market is segmented as under the hood, underbody, and class-A panels. Class-A panel is expected to remain the hotspot for low-density SMC manufacturers in the years to come. Most of the automakers are using low-density SMCs for class-A panels only. Low-density SMC offers an excellent surface finish with a significant weight-saving advantage, usually more than 40% than that of traditional SMCs.
Based on the resin type, the market is segmented as polyester composites and other composites. Like traditional SMCs, here in low-density SMCs, polyester remains the choice of resins system, propelled by its lowest cost paired with modest performance. Low-density SMCs compete with traditional SMCs as well as metals and other compounds. It is of paramount importance for the market stakeholders to keep the cost of low-density SMCs low in order to maintain their competitiveness. Polyester helps the manufacturers in mitigating the overall cost of the product since it has the lowest cost among alternatives, such as epoxy and vinyl ester.
Based on the Region, Asia-Pacific is the largest market for traditional SMCs, whereas Europe is the largest market for low-density SMCs. This is mainly due to the greater and faster adoption cycle of advanced composite materials in Europe and North America than that of Asia-Pacific. Generally, Europe is an early adopter of advanced materials, particularly proving to be correct for the automotive industry. Germany, the UK, and France are the leading markets where such technological advancements take place first. North America is the second most important market for low-density SMCs, again due to the greater penetration of low-density SMCs.
Key Players:
Key players operating in the global Low-Density SMC market are-
- Core Molding Technologies, Inc.
- Continental Structural Plastics
- IDI Composites International
- Polynt S.p.A.
- Premix Inc.
- Menzolit GmbH
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Low-Density SMC analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
Know more about Stratview Research:
Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as aerospace & Defense, Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our team makes sure to have deep research about the topics so that the most useful insights can be delivered to the professionals.
Need a detailed report? Get in touch with us:
Stratview Research
E-mail: sales@stratviewresearch.com
Direct: +1-313-307-4176