The hood will crease with more use, and I find that hoods keep the creases no matter what product you try. I had a total hood recolour once and that was the best result so far. But it wasnt long before the usual big creases started to show wear again.
I try to use some nice products, like Autoglym, to keep the hood immaculately clean, as the creases dont tend to show too badly with use.
I dont really know of any real cure for some of the worse creases, I surely wouldnt go to the expenses of a new hood for a few creases.
TOP TIP: Just keep the hood down, look cool, keep cool, youll never see the creases 8)