Middle East & Africa Carbon Fiber-Based SMC BMC Market Forecast to 2030
Middle East & Africa Carbon Fiber-Based SMC BMC Market Forecast to 2030 – Regional Analysis – by Resin Type (Polyester, Vinyl Ester, Epoxy, and Others) and End-Use Industry (Automotive, Aerospace, Electrical and Electronics, Building and Construction, and Others)
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Description
Rising Construction Activities Bolster Middle East & Africa Carbon Fiber-Based SMC BMC Market
Carbon fiber-based SMC and BMC comprise several properties such as lightweight, longevity, flame resistance, corrosion and chemical resistance, low emission, and abrasion resistance. They also offer durability and resistance to moisture. The building & construction sector utilizes BMC in the production of panels for building façades, architectural elements, water tanks, access chambers, manhole covers, beams, and columns. Increasing investments in research and development activities along with the diversification of applications fuel the demand for BMC in the building & construction industry.
The Middle East & Africa has population with high standard of living and extravagant building and construction infrastructure in its fast-growing urban centers. With a 10-15% GDP share, the construction sector is becoming important for the MEA countries. Building residential, commercial, institutional, and industrial structures in the region is receiving investments from all over the world, which is improving employment prospects. Prefabricated building and sustainability are also receiving significant attention. Several commercial projects in the UAE are currently in the construction phase, aiding in the maintenance of high growth rates. As the government works to create high-value service sectors, commercial infrastructure is emerging as a significant sector outperformer. Furthermore, since the government works to diversify the economy beyond oil, it is predicted that Abu Dhabi’s proportion of the construction industry would increase over the next years. The commercial infrastructure also intends to attract a large number of visitors to the nation each year. Therefore, these variables are projected to support the expansion of the construction equipment market during the forecast period. Further, the construction industry in Turkey is expected to emerge from its downturn due to the government’s emphasis on building out the country’s energy, residential, and transportation facilities. In addition, the nation’s investments under its five-year development plan contributes to the expansion of the market. Additionally, the pipeline for all construction projects in the nation, which tends to be late-stage projects, encompasses all projects from the planning stage through implementation. The rising construction activities across the region propel the demand for carbon fiber-based SMC and BMC.
Middle East & Africa Carbon Fiber-Based SMC BMC Market Overview
The Middle East & Africa carbon fiber-based SMC BMC market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The market growth in the region is driven by increasing use of carbon fiber-based SMC and BMC products in industries such as building & construction, automotive, electronics, and others. Various countries in the region are rapidly developing their public infrastructure, including airports, hospitals, and administrative buildings. The construction of commercial buildings and infrastructure has increased due to the rising tourism industry and growing immigrant population. The UAE government has been investing extensively in airport development and expansion projects. The government invested US$ 8.1 billion in Al Maktoum International Airport in Dubai, US$ 7.6 billion in the Dubai International Airport Expansion Phase 4, US$ 6.8 billion in Abu Dhabi Airport development and expansion plans, and ~US$ 400 million in Sharjah’s International Airport terminal expansion. Thus, due to governments’ support in terms of investments in airport development and expansion projects, the demand for composite products such as carbon fiber-based SMC BMC products is increasing. Further, SMC and BMC composite products have advantages such as strength and stiffness, weight reduction, electrical performance, and others. All these benefits drive their use in applications such as automotive, electronics, and others.
Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Carbon Fiber-Based SMC BMC Market Segmentation
The Middle East & Africa carbon fiber-based SMC BMC market is segmented based on resin type, end-use industry, and country.
Based on resin type, the Middle East & Africa carbon fiber-based SMC BMC market is segmented into polyester, vinyl ester, epoxy, and others. The polyester segment held the largest share in 2022.
By end use industry, the Middle East & Africa carbon fiber-based SMC BMC market is categorized into automotive, aerospace, electrical and electronics, building and construction, and others. The automotive segment held the largest share in 2022.
Based on country, the Middle East & Africa carbon fiber-based SMC BMC market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia dominated the Middle East & Africa carbon fiber-based SMC BMC market in 2022.
LyondellBasell Industries NV, Menzolit GmBH, Mitsubishi Chemical Group Corp, Teijin Carbon Europe GmbH, and YS ACC Co Ltd are some of the leading companies operating in the Middle East & Africa carbon fiber-based SMC BMC market.
Summary Info
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According to the Research Team’ research, the Middle East & Africa carbon fiber-based SMC BMC market was valued at US$ 26.16 million in 2022 and is expected to reach US$ 40.58 million by 2030, registering a CAGR of 5.6% from 2022 to 2030. Growing global automotive industry and rising construction activities are among the critical factors attributed to the Middle East & Africa carbon fiber-based SMC BMC market expansion.
Africa is seeing rapid growth in the car manufacturing sector. The automotive sector in Africa is expanding due to the growing number of manufacturers relocating closer to their African clients and realizing the benefits of reduced labor costs and tax breaks. Further, the Kenyan government has pledged incentives to support domestic industry, citing the auto industry as a major force behind the nation’s industrialization strategy. One of them is creating special economic zones that get tax breaks and cheap utility costs. Additionally, it has imposed tariffs on imported car parts that may be produced locally and local input requirements. Positively, Kenyan car assembly increased by 31.4% between 2021 and 2023, and between 2013 and 2019, assembly numbers are expected to nearly double. It’s increasing the likelihood that the nation will serve as a regional center for production and assembly. Also, South Africa has a long history of producing automobiles, but Morocco is a growing center for this industry. However, domestically operated African companies and international automakers are also establishing manufacturing facilities in Angola, Ghana, Ethiopia, Kenya, Nigeria, Namibia, and Rwanda. 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 during the forecast period.
On the contrary, availability of substitute products hampers the growth of Middle East & Africa carbon fiber-based SMC BMC market.
Based on resin type, the Middle East & Africa carbon fiber-based SMC BMC market is segmented into polyester, vinyl ester, epoxy, and others. The polyester segment held 38.0% share of the Middle East & Africa carbon fiber-based SMC BMC market in 2022, amassing US$ 9.94 million. It is projected to garner US$ 16.11 million by 2030 to expand at 6.2% CAGR during 2022-2030.
By end use industry, the Middle East & Africa carbon fiber-based SMC BMC market is categorized into automotive, aerospace, electrical and electronics, building and construction, and others. The automotive segment held 39.2% share of the Middle East & Africa carbon fiber-based SMC BMC market in 2022, amassing US 10.25 million. It is projected to garner US$ 16.06 million by 2030 to expand at 5.8% CAGR during 2022-2030.
Based on country, the Middle East & Africa carbon fiber-based SMC BMC market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia held 36.7% share of Middle East & Africa carbon fiber-based SMC BMC market in 2022, amassing US$ 9.60 million. It is projected to garner US$ 15.40 million by 2030 to expand at 6.1% CAGR during 2022-2030.
Key players operating in the Middle East & Africa carbon fiber-based SMC BMC market are LyondellBasell Industries NV, Menzolit GmBH, Mitsubishi Chemical Group Corp, Teijin Carbon Europe GmbH, and YS ACC Co Ltd, among others.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa carbon fiber-based SMC BMC market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the carbon fiber-based SMC BMC market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
2.2.1 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Carbon Fiber-Based SMC BMC Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Carbon Fiber-Based SMC BMC Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 End-Use Industries
5. Middle East & Africa Carbon Fiber-Based SMC BMC Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Global Automotive Industry
5.1.2 Rising Construction Activities
5.1.3 Increasing Demand for Lightweight, Durable, and Fire-Resistant Materials
5.2 Market Restraints
5.2.1 Availability of Substitute Products
5.3 Market Opportunities
5.3.1 Adoption of Sustainable Products
5.4 Future Trends
5.4.1 Development of Novel Resin Systems for Carbon Fiber-Based SMC and BMC
5.5 Impact Analysis
6. Carbon Fiber-Based SMC BMC Market – Middle East & Africa Market Analysis
6.1 Middle East & Africa Carbon Fiber-Based SMC BMC Market Volume (Kilo Tons)
6.2 Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue (US$ Million)
6.3 Middle East & Africa Carbon Fiber-Based SMC BMC Market Forecast and Analysis
7. Middle East & Africa Carbon Fiber-Based SMC BMC Market Analysis – Resin Type
7.1 Polyester
7.1.1 Overview
7.1.2 Polyester Market Volume and Forecast to 2030 (Kilo Tons)
7.1.3 Polyester Market Revenue and Forecast to 2030 (US$ Million)
7.2 Vinyl Ester
7.2.1 Overview
7.2.2 Vinyl Ester Market Volume and Forecast to 2030 (Kilo Tons)
7.2.3 Vinyl Ester Market Revenue and Forecast to 2030 (US$ Million)
7.3 Epoxy
7.3.1 Overview
7.3.2 Epoxy Market Volume and Forecast to 2030 (Kilo Tons)
7.3.3 Epoxy Market Revenue and Forecast to 2030 (US$ Million)
7.4 Others
7.4.1 Overview
7.4.2 Others Market Volume and Forecast to 2030 (Kilo Tons)
7.4.3 Others Market Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Carbon Fiber-Based SMC BMC Market Analysis – End-Use Industry
8.1 Automotive
8.1.1 Overview
8.1.2 Automotive Market Revenue, and Forecast to 2030 (US$ Million)
8.2 Aerospace
8.2.1 Overview
8.2.2 Aerospace Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Electrical and Electronics
8.3.1 Overview
8.3.2 Electrical and Electronics Market Revenue and Forecast to 2030 (US$ Million)
8.4 Building and Construction
8.4.1 Overview
8.4.2 Building and Construction Market Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Market Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa Carbon Fiber-Based SMC BMC Market – Country Analysis
9.1 Middle East & Africa
9.1.1 Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts and Analysis – By Countries
9.1.1.1 Middle East & Africa Carbon Fiber-Based SMC BMC Market Breakdown by Country
9.1.1.2 South Africa Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.3 South Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.3.1 South Africa Carbon Fiber-Based SMC BMC Market Breakdown by Resin Type
9.1.1.3.2 South Africa Carbon Fiber-Based SMC BMC Market Breakdown by Resin Type
9.1.1.3.3 South Africa Carbon Fiber-Based SMC BMC Market Breakdown by End-Use Industry
9.1.1.4 Saudi Arabia Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.5 Saudi Arabia Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.5.1 Saudi Arabia Carbon Fiber-Based SMC BMC Market Breakdown by Resin Type
9.1.1.5.2 Saudi Arabia Carbon Fiber-Based SMC BMC Market Breakdown by Resin Type
9.1.1.5.3 Saudi Arabia Carbon Fiber-Based SMC BMC Market Breakdown by End-Use Industry
9.1.1.6 UAE Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.7 UAE Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.7.1 UAE Carbon Fiber-Based SMC BMC Market Breakdown by Resin Type
9.1.1.7.2 UAE Carbon Fiber-Based SMC BMC Market Breakdown by Resin Type
9.1.1.7.3 UAE Carbon Fiber-Based SMC BMC Market Breakdown by End-Use Industry
9.1.1.8 Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons)
9.1.1.9 Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million)
9.1.1.9.1 Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Breakdown by Resin Type
9.1.1.9.2 Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Breakdown by Resin Type
9.1.1.9.3 Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Breakdown by End-Use Industry
10. Competitive Landscape
10.1 Heat Map Analysis By Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Product launch
11.3 Mergers and Acquisitions
11.4 Expansion
11.5 Other Strategies and Developments
12. Company Profiles
12.1 Mitsubishi Chemical Group Corp
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Menzolit GmBH
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 YS ACC Co Ltd
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 LyondellBasell Industries NV
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Teijin Carbon Europe GmbH
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
13. Appendix
LIST OF TABLES
Table 2. Middle East & Africa Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons)
Table 3. Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million)
Table 4. Middle East & Africa Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons) – Resin Type
Table 5. Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – Resin Type
Table 6. Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – End-Use Industry
Table 7. South Africa Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons) – By Resin Type
Table 8. South Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – By Resin Type
Table 9. South Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – By End-Use Industry
Table 10. Saudi Arabia Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons) – By Resin Type
Table 11. Saudi Arabia Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – By Resin Type
Table 12. Saudi Arabia Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – By End-Use Industry
Table 13. UAE Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons) – By Resin Type
Table 14. UAE Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – By Resin Type
Table 15. UAE Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – By End-Use Industry
Table 16. Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons) – By Resin Type
Table 17. Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – By Resin Type
Table 18. Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million) – By End-Use Industry
LIST OF FIGURES
Figure 2. Porter’s Five Forces Analysis
Figure 3. Ecosystem: Middle East & Africa Carbon Fiber-Based SMC BMC Market
Figure 4. Market Dynamics: Middle East & Africa Carbon Fiber-Based SMC BMC Market
Figure 5. Middle East & Africa Carbon Fiber-Based SMC BMC Market Impact Analysis of Drivers and Restraints
Figure 6. Middle East & Africa Carbon Fiber-Based SMC BMC Market Volume (Kilo Tons), 2020 – 2030
Figure 7. Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue (US$ Million), 2020 – 2030
Figure 8. Carbon Fiber-Based SMC BMC Market Share (%) – Resin Type, 2022 and 2030
Figure 9. Polyester Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 10. Polyester Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11. Vinyl Ester Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 12. Vinyl Ester Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Epoxy Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 14. Epoxy Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Others Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 16. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Middle East & Africa Carbon Fiber-Based SMC BMC Market Share (%) – End-Use Industry, 2022 and 2030
Figure 18. Automotive Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Aerospace Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Electrical and Electronics Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Building and Construction Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 23. Middle East & Africa Carbon Fiber-Based SMC BMC Market Breakdown by Key Countries – Revenue (2022) (US$ Million)
Figure 24. Middle East & Africa Carbon Fiber-Based SMC BMC Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 25. South Africa Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 26. South Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. Saudi Arabia Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 28. Saudi Arabia Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million)
Figure 29. UAE Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 30. UAE Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million)
Figure 31. Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Volume and Forecasts to 2030 (Kilo Tons)
Figure 32. Rest of Middle East & Africa Carbon Fiber-Based SMC BMC Market Revenue and Forecasts to 2030 (US$ Million)
Figure 33. Heat Map Analysis By Key Players
Figure 34. Company Positioning & Concentration
1. LyondellBasell Industries NV
2. Menzolit GmBH
3. Mitsubishi Chemical Group Corp
4. Teijin Carbon Europe GmbH
5. YS ACC Co Ltd
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