Sheet Molding Compound Market

Sheet Molding Compound Market

Sheet Molding Compound Market
Report code - SR1639 Published On : Oct,2025 No. of Pages: 125
Sheet Molding Compound Market Size, Share, Trend, Forecast, Competitive Analysis, and Grow See more...

Market Highlights

“The sheet molding compound market was valued at US$2.9 billion in 2024 and is likely to grow at a decent CAGR of 2.9% in the long run to reach US$3.4 billion in 2030.”

Introduction

Sheet Molding Compound (SMC) is a thermoset compound, where carbon or glass fibers, typically one inch or longer, are encapsulated in a polyester or vinyl?ester resin matrix. High in demand due to its excellent surface finish, the SMC satisfies demanding conditions across automotive, construction, and electrical & electronics industries. It possesses excellent mechanical strength as well as heat and corrosion resistance, light weight, exceptional electrical properties, and low emissions, driving demand in light vehicle weight components, outdoor electrical enclosures, and high voltage insulators.

The SMC market has experienced significant growth as OEMs and infrastructure developers demand durability, cost-effectiveness, and compliance with increasingly stringent environmental regulations from the increased use of electric vehicles, electrical components, and smart building systems.

Segments' Analysis

 

Segmentations

List of Sub-Segments

Segments with High Growth Opportunity

Industry-Type Analysis

Aerospace & Defense, Marine, Transportation, Construction, Consumer Goods, Electrical & Electronics, Pipe & Tanks, and Other Industries

Transportation industry is projected to remain the largest market throughout the forecast period.

Fiber-Type Analysis

Glass Fiber and Carbon Fiber

Glass fiber is likely to hold a significant share of the market

Resin Type Analysis

Polyester, Epoxy, and Other Resins

Polyester Resin is expected to lead the market.

Density Type Analysis

Medium-High Density and Low-Density

Medium-High Density SMCs are predominantly used.

Region Analysis

North America, Europe, Asia-Pacific, and The Rest of the World

Asia-Pacific sheet molding compound market, owing to strong automobile production.

By Industry Type

“Throughout the forecast period, the transportation industry makes considerable use of sheet molding compound.”

The market is segmented into aerospace & defense, marine, transportation, construction, consumer goods, electrical & electronics, pipe & tanks, and other industries. SMC, due to its superior mechanical performance and scalability for large-scale production, has extensive usage in the transportation industry, with usage in hood, bumper, door panel, fender, pickup truck boxes, and battery covers. New age formulations, such as low-density SMC, are increasingly used for Class A surface finish parts by various automobile manufacturers. Furthermore, automakers can produce 150,000-200,000 parts per annum from SMCs, perfectly aligned with the 2-5-minute cycle time of the industry. Construction, another noticeable market for SMCs, is likely to be the fastest-growing market in the coming five years.

By Fiber Type

Glass fiber is expected to hold a dominating share in the market during the forecast period.

The market is categorized into glass fiber and carbon fiber. Glass fiber holds a major share, favored for its cost-effectiveness and widespread OEM adoption across applications like hoods, liftgates, HVAC components, and manhole covers. Carbon Fiber, on the other hand, is experiencing a faster growth rate, due to increasing demand for lightweight and high-strength materials in electrical & electronics and aerospace & defense applications.

Regional Analysis

The Asia-Pacific region is expected to remain the biggest market for sheet molding compound, while North America will hold the position of the second largest throughout the forecast period.

The Asia?Pacific region commands the largest value share of the sheet molding compound market, propelled by booming vehicle production and a thriving electrical & electronics industry. Leading demand hubs China, India, Japan, and South Korea are key drivers, as their automakers adopt SMC for lighter, more efficient components, while their switchgear, enclosure, breaker, and insulator manufacturers set the pace for electrical & electronics industry growth. North America and Europe are the other major markets for SMCs in the wake of high usage of their vehicles.

Key Players

The market is highly fragmented, with more than 50 players across the region. Most of the major players compete in some of the governing factors, including price, service offerings, and regional presence, etc. The following are the key players in the sheet molding compound market. Some of the major players provide a complete range of services.

Here is the list of the Top Players (Based on Dominance)

  • Teijin Automotive Technologies

  • Polynt Group

  • IDI Composites International

  • Core Molding Technologies

  • LyondellBasell

  • Menzolit

  • Polytec Group

  • Changzhou Jiang's Compound Materials Technology Co., Ltd.

  • Mitsui Chemicals Group

  • Huayuan Advanced Materials (Hamlite)

Note: The above list does not necessarily include all the top players in the market.

Are you the leading player in this market? We would love to include your name. Please write to us at [email protected]

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept so that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis.

  • 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, Service portfolio, New Product Launches, etc.

  • Attractive market segments and associated growth opportunities.

  • Emerging trends.

  • Strategic growth opportunities for the existing and new players.

  • Key success factors.

The sheet molding compound market is segmented into the following categories-

By Industry

  • Aerospace & Defense (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Marine (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Transportation (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Construction (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Consumer Goods (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Electrical & Electronics (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Pipe & Tanks (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Other Industries (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

By Fiber

  • Glass Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Carbon Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

By Resin

  • Polyester (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Epoxy (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Other Resins (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

By Density

  • Medium-High Density (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

  • Low-Density (Regional Analysis: North America, Europe, Asia-Pacific, and Rest of the World)

By Region

  • North America (Country Analysis: The USA, Canada, and Mexico)

  • Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)

  • Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)

  • Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Research Methodology

  • This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s sheet molding compound market realities and future market possibilities for the forecast period.

  • The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market.

  • The vital data/information provided in the report can play a crucial role for market participants and investors in identifying the low-hanging fruit available in the market and formulating growth strategies to expedite their growth process.

  • This report offers high-quality insights and is the outcome of a 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.

  • More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

  • We conducted more than 10 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:

Company Profiling

  • Detailed profiling of additional market players (up to three players)

  • SWOT analysis of key players (up to three players)

Competitive Benchmarking

  • Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]

Frequently Asked Questions (FAQs)

The sheet molding compound market is estimated to be valued at US$3.4 billion in 2030.

The sheet molding compound market is estimated to grow at a CAGR of 2.9% by 2030.

Key market drivers for the sheet molding compound market stem from three main factors: superior mechanical performance, scalability for large-scale production, and cost-effectiveness in the transportation and electronics & electrical applications.

Asia-Pacific is the largest market in the sheet molding compound market and is expected to maintain its share, mainly driven by booming automotive manufacturing and thriving electrical & electronics industry.

Teijin Automotive Technologies, Polynt Group, IDI Composites International, Core Molding Technologies, LyondellBasell Menzolit, Polytec Group, Changzhou Jiang's Compound Materials Technology Co., Ltd, Mitsui Chemicals Group, and Huayuan Advanced Materials (Hamlite) are the leading players in the sheet molding compound market.