| Label | Glass Fiber | Carbon Fiber |
|---|---|---|
| 2019 | 4.89 USD Mn | 0.91 USD Mn |
| 2020 | 4.63 USD Mn | 0.87 USD Mn |
| 2021 | 4.69 USD Mn | 0.89 USD Mn |
| 2022 | 4.78 USD Mn | 0.91 USD Mn |
| 2023 | 4.89 USD Mn | 0.94 USD Mn |
| 2024 | 5.03 USD Mn | 0.97 USD Mn |
| 2025 | 5.21 USD Mn | 1.01 USD Mn |
| 2026 | 5.43 USD Mn | 1.06 USD Mn |
| 2027 | 5.68 USD Mn | 1.12 USD Mn |
| 2028 | 5.96 USD Mn | 1.18 USD Mn |
| 2029 | 6.35 USD Mn | 1.27 USD Mn |
| 2030 | 6.76 USD Mn | 1.35 USD Mn |
Data Source: Wantstats Repository
The South African SMC (Sheet Molding Compound) and BMC (Bulk Molding Compound) market has witnessed a significant demand in recent years. These materials are widely used in various industries, such as automotive, construction, electrical, and consumer goods, due to their superior properties and cost-effectiveness. One of the key drivers of demand for SMC and BMC in South Africa is the increasing trend towards lightweight and fuel-efficient vehicles. SMC and BMC products are extensively used in the automotive industry for the production of exterior and interior components, such as hoods, fenders, and dashboards. The properties of these materials, such as high strength-to-weight ratio, corrosion resistance, and design flexibility, make them ideal for use in the automotive sector. As the automotive industry in South Africa continues to grow, the demand for SMC and BMC is expected to increase as well. The construction industry in South Africa is also a major contributor to the demand for SMC and BMC products. These materials are used in the production of various building components, including roofing, wall panels, and structural elements, due to their high durability and resistance to weather and chemical agents.
The government's focus on infrastructure development and investments in the construction sector have further fueled the demand for SMC and BMC materials. The electrical and electronics industry is another major consumer of SMC and BMC in South Africa. These materials are widely used in the production of electrical enclosures, switchgear components, and connectors due to their high insulating properties and resistance to heat and fire. With the increasing demand for electronic devices and the growth of the renewable energy sector in South Africa, the demand for SMC and BMC is expected to grow significantly. Additionally, the growing trend towards sustainable and eco-friendly products has led to an increase in the demand for SMC and BMC. These materials are recyclable and have a lower environmental impact compared to traditional materials, making them a preferred choice among consumers and manufacturers. The availability of a skilled labor force, along with advancements in technology and manufacturing processes, has also contributed to the demand for SMC and BMC in South Africa. Manufacturers are constantly investing in research and development to improve the properties and applications of these materials, which is further driving their demand in the market.
In conclusion, the South African SMC and BMC market is experiencing a steady demand, driven by various industries and factors. With the increasing adoption of these materials and advancements in production techniques, the market is expected to continue its growth trajectory in the coming years.
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2024.
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I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
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South Africa SMC and BMC Market By Type
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