The carbon fiber-based SMC BMC market size was valued at US$ 749.51 million in 2022 and is projected to reach US$ 1,240.08 million by 2030; it is anticipated to record a CAGR of 6.5% from 2022 to 2030.
MARKET ANALYSIS
Carbon fiber-based BMC consists of short carbon fibers, fillers, and resin systems formed into bulk material. It is utilized in applications where high performance and dimensional precision are required. Replacing metal components with lightweight carbon fiber-based BMC and SMC reduces vehicle weight and offers an additional advantage of chemical and fire resistance. Furthermore, rising sustainability initiatives across the world and stringent government regulations prompt manufacturers to recycle SMC and BMC. Recycling of carbon fiber-based SMC and BMC is achieved through mechanical shredding and grinding.
GROWTH DRIVERS AND CHALLENGES
The growing automotive industry and increasing demand for lightweight and durable materials drive the carbon fiber-based SMC BMC market growth. Carbon fiber-based SMC and BMC are lightweight and offer durability, design flexibility, tolerance to temperature fluctuations, and chemical resistance. They have various applications such as automotive body panels, structural components, and insulating components. The demand for SMC and BMC for the production of automobiles has increased due to a high emphasis on reducing vehicle weight and enhancing fuel efficiency. The rise in electric and hybrid vehicles has further boosted the demand for lightweight materials for the insulation of electrical components. Thus, the growing automotive industry propels the demand for automotive components, subsequently boosting the carbon fiber-based SMC BMC market growth. Availability of substitute products for carbon fiber-based SMC BMC poses a challenge to the carbon fiber-based SMC BMC market. Glass fiber-based SMC and BMC, aluminum alloys, thermoplastics, natural fiber composites, thermoplastic composites, and metal matrix composites are among the substitutes of carbon fiber-based SMC and BMC. Glass fiber-based SMC and BMC have characteristics like carbon fiber-based SMC and BMC. However, they are cost-effective solutions. Aluminum alloys are used in the automotive and aerospace industries due to their high strength and corrosion resistance. Thus, the availability of substitutes restrains the carbon fiber-based SMC BMC market growth.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Carbon Fiber-Based SMC BMC Market: Strategic Insights
Market Size Value in US$ 749.51 million in 2022 Market Size Value by US$ 1,240.08 million by 2030 Growth rate CAGR of 6.5% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Carbon Fiber-Based SMC BMC Market: Strategic Insights
| Market Size Value in | US$ 749.51 million in 2022 |
| Market Size Value by | US$ 1,240.08 million by 2030 |
| Growth rate | CAGR of 6.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
Shejal
Have a question?
Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
REPORT SEGMENTATION AND SCOPE
The "Global Carbon Fiber-Based SMC BMC Market Analysis to 2030" is a specialized and in-depth study with a significant focus on global market trends and growth opportunities. The report aims to provide an overview of the global market with detailed market segmentation on the basis of resin type, end-use industry, and geography. The report provides key statistics on the consumption of carbon fiber-based SMC BMC across the world, along with their demand in major regions and countries. In addition, the report provides a qualitative assessment of various factors affecting the carbon fiber-based SMC BMC market performance in major regions and countries. It also includes a comprehensive analysis of the leading players in the carbon fiber-based SMC BMC market and their key strategic developments. Analysis of the market dynamics is also included to help identify the key driving factors, market trends, and lucrative opportunities that would, in turn, aid in identifying the major revenue pockets.
The ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global carbon fiber-based SMC BMC market, which helps understand the entire supply chain and various factors affecting the market growth.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
SEGMENTAL ANALYSIS
The global carbon fiber-based SMC BMC market is segmented on the basis of resin type and end-use industry. Based on resin type, the carbon fiber-based SMC BMC market is segmented into polyester, vinyl ester, epoxy, and others. Based on end-use industry, the market is segmented into automotive, aerospace, electrical and electronics, building and construction, and others. Based on resin type, the polyester segment accounted for a significant share of the carbon fiber-based SMC BMC market in 2022. Processing advantages of polyester such as low viscosity, fast cure, and improved processing robustness help reduce cycle times significantly and eventually lead to increased productivity. Vinyl ester resins are considered a popular resin type used in BMC and SMC production. Vinyl ester resins possess several characteristic features such as low viscosity, mechanical properties, low processing cost, and the ability to cure at room temperature. Polyetherketoneketone (PEKK), Polyether ether ketone (PEEK), Polyphenylene Sulfide (PPS), and Polyetherimide (PEI) are among the other resin types used for the production of carbon fiber-based SMC BMC products. Based on end-use industry, the automotive segment accounted for a significant share in 2022. The automotive industry has emphasized the production of lightweight components, thereby replacing metals and alloy materials. BMC formulation withstands high temperatures and adverse environmental conditions, making it an ideal choice for engine components such as ignition systems and sensors in the aerospace industry. SMC and BMC are generally used to manufacture electrical enclosures and cabinets. These materials are also designed to have properties such as moisture resistance and corrosion resistance and meet safety standards for electrical equipment. SMC and BMC offer high strength, durability, and tolerance to adverse environmental conditions. Façade elements, including decorative trims, cornices, architectural elements, and others, are produced from SMC and BMC as they offer weathering resistance and design flexibility.
Carbon Fiber-Based SMC BMC Market – by Resin Type, 2022 and 2030
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
REGIONAL ANALYSIS
The report provides a detailed overview of the global carbon fiber-based SMC BMC market with respect to five major regions—North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Asia Pacific accounted for a significant share of the global carbon fiber-based SMC BMC market and was valued at more than US$ 350 million in 2022. Asia Pacific is a hub for automotive manufacturing with a large presence of international and domestic players operating in the region. The International Organization of Motor Vehicle Manufacturers report stated that various countries in Asia Pacific produced ~46.73 million units of motor vehicles in 2021. In the production of cars, trucks, buses, and agricultural vehicles, SMC and BMC products offer advantages such as parts consolidation, corrosion resistance, low weight, and others. Benefits of SMC and BMC products, coupled with the growing automotive industry, propel the market growth in Asia Pacific. The Europe carbon fiber-based SMC BMC market is expected to reach more than US$ 250 million by 2030. The automotive industry is a major industry in Europe as it contributes significantly to the GDP of many European countries, including Germany, the UK, and Italy. According to the report by the European Commission, in 2021, turnover generated by the industry in Europe represents 7% of the region’s total GDP. The North America carbon fiber-based SMC BMC market is expected to record a CAGR of ~6% from 2022 to 2030. North America offers an extensive growth opportunity for the players of carbon fiber-based SMC BMC due to the growing end-use industries, such as automotive, aerospace, and electrical & electronics industries.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Various initiatives taken by the key players operating in the carbon fiber-based SMC BMC market are listed below:
- In 2023, Engenuity developed a new approach to SMC, Failure in Random Material Architectures (FiRMA). This uses a predictive technique that accurately reflects material properties and determines the performance range an SMC part or structure will exhibit.
- In 2021, AOC, Zoltek, and Astar developed novel CF-SMC for high-performance automotive parts on an industrial scale. AOC AG (Schaffhausen, Switzerland), with Astar (Biscay, Spain), has developed a new sheet molding compound based on Daron polyurethane hybrid technology under the UK government-funded research project, TUCANA.
IMPACT OF COVID-19 PANDEMIC/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Industries such as automotive, electronics, and aerospace have been the major consumers of carbon fiber-based SMC BMC. In 2020, these industries had to slow down their operations due to disruptions in the value chain caused by government regulations and trade restrictions. Moreover, lockdowns imposed by different countries hampered the inventory levels of many manufacturers in the same year. The shortage of labor resulted in a reduction in carbon fiber-based SMC BMC production and distribution operations. Additionally, government restrictions and other COVID-19-related precautions reduced the operational capacities of stakeholders in the carbon fiber-based SMC BMC market value chain.
In late 2021, the global carbon fiber-based SMC BMC market began recovering from the losses incurred in 2020, with the revival of end-use industries such as automotive, construction, and electrical & electronics. Expansion in production capacities in the chemicals & materials industry post-COVID-19 pandemic in many regions, such as Asia Pacific and North America, is expected to create lucrative opportunities for the carbon fiber-based SMC BMC market in the coming years.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Teijin Carbon Europe GmBH, Mitsubishi Chemical Corp, ASTAR SA, Menzolit, Polynt SpA, IDI Composite International, LyondellBasell Industries Holdings BV, Lattice Composites LLC, Toray Advanced Composites, and YS ACC are among the key players operating in the carbon fiber-based SMC BMC market.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Resin Type, and End-Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The automotive segment held the largest share of the global carbon fiber-based SMC BMC market in 2022. SMC and BMC are used for the fabrication of car components such as body panels, hoods, tailgates, headlamp reflectors, spoilers, valve covers, and battery support.
The building and construction segment is estimated to register the fastest CAGR in the global carbon fiber-based SMC BMC market over the forecast period. SMC and BMC are used to manufacture building panels for walls, roofs, and facades. The panels are lightweight and durable and offer design flexibility, making them ideal for residential and commercial applications.
The projected growth of the market is attributed to the growing global automotive industry, rising construction activities, and the increasing demand for lightweight, durable, and fire-resistant materials.
The key players operating in the global carbon fiber-based SMC BMC market include Teijin Carbon Europe GmBH, Mitsubishi Chemical Corp, ASTAR SA, Menzolit, Polynt SpA, IDI Composite International, LyondellBasell Industries Holdings BV, Lattice Composites LLC, Toray Advanced Composites, and YS ACC, among others.
The polyester segment held the largest share in the global carbon fiber-based SMC BMC market in 2022. Polyester is a synthetic polymer usually derived from petroleum. It is a versatile material known for its strength, durability, and resistance to several environmental factors.
In 2022, Asia Pacific held the largest share of the global carbon fiber-based SMC BMC market. The Asia Pacific carbon fiber-based SMC and BMC market is segmented into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The market growth in Asia Pacific is driven by the strong presence of the automotive, building & construction, electronics, wind energy, and other industries. Asia Pacific is a hub for automotive manufacturing with a large presence of international and domestic players operating in the region.
The List of Companies - Carbon Fiber-Based SMC BMC Market
- Teijin Carbon Europe GmBH
- Mitsubishi Chemical Corp
- ASTAR SA
- Menzolit
- Polynt SpA
- IDI Composite International
- LyondellBasell Industries Holdings BV
- Lattice Composites LLC
- Toray Advanced Composites
- YS ACC
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Carbon Fiber-Based SMC BMC Market
Oct 2023
Construction Additives Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type [Cement Additives, Concrete Admixtures (Precast Concrete and Ready-Mix Concrete), Paints and Coatings Additives, Adhesives and Sealants Additives, Plastic Additives, Bitumen Additives, and Others], and Application (Residential, Commercial, Infrastructure, and Others)
Oct 2023
Oil Pollution Remediation Materials Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type [Physical Remediation (Booms, Skimmers, and Adsorbent Materials), Chemical Remediation (Dispersants and Solidifiers), Thermal Remediation, and Bioremediation]
Oct 2023
Greenhouse and Mulch Film Market
Size and Forecast (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Product Type (Greenhouse Films and Mulch Films), Material (LLDPE, LDPE, HDPE, EVA, PHA, PVC, PC, and Others), and Application (Vegetable Farming, Horticulture, Floriculture, and Others)
Oct 2023
Plastic for SLS 3D Printing Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Type (Polyamide, Thermoplastic Polyurethane (TPU), Polyether Ether Ketone (PEEK), and Others) and End-Use Industry (Healthcare, Aerospace & Defense, Automotive, Electronics, Others)
Oct 2023
Carbon Fiber-Based SMC BMC Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Resin Type (Polyester, Vinyl Ester, Epoxy, and Others) and End-Use Industry (Automotive, Aerospace, Electrical and Electronics, Building and Construction, and Others)
Oct 2023
Thermoplastic Adhesive Films Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Material (Polyethylene, Polyamide, Thermoplastics Polyurethane, Polyester, Polypropylene, Polyolefins, Copolyamides, Copolyesters, and Others); Technology (Cast Film and Blown Film); Application (Membrane Films, Barrier Films, and Blackout Films); End Use (Textile, Automotive, Electrical and Electronics, Medical, Ballistic Protection, Lightweight Hybrid Construction, and Others)