The Global Thermoset Composite Materials for EV and Hybrid Vehicles Market is experiencing robust growth, driven by the automotive industry’s intense focus on vehicle lightweighting to extend driving range and improve energy efficiency. These advanced materials, including Sheet Molding Compound (SMC) and Bulk Molding Compound (BMC), are critical for manufacturing key components like battery covers, lift gates, and engine protectors. As electric vehicle production scales globally, the demand for high-performance, durable, and lightweight thermoset composites is accelerating, creating a competitive landscape led by specialized material innovators.

In this blog, we profile the Top 10 Companies in the Thermoset Composite Materials for EV and Hybrid Vehicles Industry—a group of global leaders and regional specialists who are supplying the essential materials that make modern electric and hybrid vehicles lighter, stronger, and more efficient.

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🔟 1. IDI Composite Material

Headquarters: Noblesville, Indiana, USA
Key Offering: HIGH STRENGTH SMC, LOW-DENSITY SMC, CLASS A SMC

IDI Composite International is a global leader in thermoset composite technology, providing advanced SMC formulations specifically engineered for the demanding requirements of electric vehicles. Their materials offer exceptional strength-to-weight ratios, excellent dimensional stability, and Class A surface finishes ideal for exterior body panels.

Innovation Initiatives:

• Development of flame-retardant SMC for battery enclosure systems
• Low-density formulations for maximum weight reduction
• Global manufacturing footprint supporting automotive OEMs worldwide

Download FREE Sample Report:
Thermoset Composite Materials For EV and Hybrid Vehicles Market – View in Detailed Research Report

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9️⃣ 2. Menzolit

Headquarters: Bühl, Germany
Key Offering: SMC and BMC compounds for automotive applications

Menzolit, a part of the Menzolit Group, is a leading European manufacturer of SMC and BMC. The company has a strong focus on the automotive sector, supplying composite materials for structural and semi-structural components in EVs, including underbody panels and battery trays.

Innovation Initiatives:

• Specialized compounds for high-voltage battery applications
• Focus on recyclable and sustainable material solutions
• Technical partnership with major European automotive OEMs

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8️⃣ 3. Disnflex Composites International

Headquarters: Nanjing, China
Key Offering: Automotive SMC, BMC, GMT

Disnflex Composites International is a key supplier in the Asia-Pacific region, providing a comprehensive portfolio of thermoset composites for the automotive industry. The company serves both domestic Chinese EV manufacturers and international joint ventures, offering cost-effective and high-performance material solutions.

Innovation Initiatives:

• Rapid prototyping services for new EV components
• Custom formulations for specific OEM requirements
• Expansion of production capacity to meet growing EV demand

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7️⃣ 4. Jiangyin Xietong Automobile Accessories

Headquarters: Jiangyin, Jiangsu, China
Key Offering: SMC automotive parts and raw materials

Jiangyin Xietong specializes in the manufacturing of SMC components and materials for the automotive sector. The company has developed expertise in producing large, complex parts such as battery covers and front-end modules for electric vehicles, leveraging China’s rapidly expanding EV market.

Innovation Initiatives:

• Vertical integration from material production to component manufacturing
• Development of thermally conductive SMC for battery thermal management
• Strategic partnerships with Chinese EV startups and established OEMs

Download FREE Sample Report:
Thermoset Composite Materials For EV and Hybrid Vehicles Market – View in Detailed Research Report

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6️⃣ 5. Jiangsu Chinyo Technology

Headquarters: Yancheng, Jiangsu, China
Key Offering: SMC sheets, BMC compounds

Jiangsu Chinyo Technology is a significant player in the Chinese composite materials market, supplying SMC and BMC to various industries including automotive. The company is increasingly focusing on developing materials that meet the specific performance requirements of electric vehicle applications.

Innovation Initiatives:

• Investment in R&D for high-performance automotive composites
• Quality systems aligned with international automotive standards
• Expansion into new application areas within EV architecture

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5️⃣ 6. Jiangsu Fulide Hangtong New Material Technology

Headquarters: Yancheng, Jiangsu, China
Key Offering: SMC, BMC, and other thermoset composites

Jiangsu Fulide Hangtong New Material Technology focuses on the research, development, and production of advanced composite materials. The company is positioning itself as a key supplier to the growing Chinese electric vehicle market with specialized formulations for EV components.

Innovation Initiatives:

• Development of halogen-free flame retardant SMC for EV batteries
• Lightweighting solutions for interior and exterior EV components
• Custom material development for specific OEM projects

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4️⃣ 7. Mitsubishi Chemical Corporation

Headquarters: Tokyo, Japan
Key Offering: Advanced SMC compounds, carbon fiber composites

While not exclusively focused on SMC/BMC, Mitsubishi Chemical is a global materials science leader developing advanced composite solutions for the automotive industry. The company offers high-performance thermoset and thermoplastic composites suitable for demanding EV applications.

Innovation Initiatives:

• Development of carbon fiber reinforced thermosets for structural applications
• Multi-material solutions for optimal weight and performance
• Global technical support for automotive customers

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3️⃣ 8. Core Molding Technologies

Headquarters: Columbus, Ohio, USA
Key Offering: SMC compression molding, composite materials

Core Molding Technologies is a North American leader in compression molding of SMC and other composite materials. The company serves various markets, including automotive, with capabilities for producing large, complex components suitable for electric vehicle applications.

Innovation Initiatives:

• Vertically integrated from material compounding to finished parts
• Development of proprietary SMC formulations
• Strategic focus on lightweighting solutions for transportation

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2️⃣ 9. Astar

Headquarters: Cincinnati, Ohio, USA
Key Offering: SMC, BMC, and other composite materials

Astar is a established North American manufacturer of SMC and BMC compounds serving various industries, including automotive. The company provides materials for both interior and exterior applications in vehicles, with growing focus on EV-specific requirements.

Innovation Initiatives:

• Custom compound development for automotive applications
• Focus on materials with improved sustainability profiles
• Technical support for component design and manufacturing

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1️⃣ 10. Polaris Industries (Composite Technologies)

Headquarters: Medina, Minnesota, USA
Key Offering: Advanced composite solutions for vehicles

While primarily known for their vehicles, Polaris has developed significant expertise in composite materials through their various product lines. This knowledge is increasingly being applied to develop advanced composite solutions that could have applications in the broader electric vehicle market.

Innovation Initiatives:

• Proprietary composite manufacturing processes
• Experience with structural composite applications
• Focus on durable, lightweight materials for demanding applications

Read Full Report:
Thermoset Composite Materials For EV and Hybrid Vehicles Market – View in Detailed Research Report

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🚀 Outlook: The Future of EV Composites Is Smarter and More Sustainable

The thermoset composite materials market for electric and hybrid vehicles is undergoing significant transformation. While traditional SMC and BMC continue to dominate, the industry is innovating with new formulations, improved sustainability, and integration with digital manufacturing technologies.

📈 Key Trends Shaping the Market:

• Development of recyclable and bio-based thermoset resins
• Integration of composite materials with battery thermal management systems
• Adoption of automated and digital manufacturing processes for composites
• Growing use of composites in structural battery enclosures and chassis components

Read Full Report:
Thermoset Composite Materials For EV and Hybrid Vehicles Market – View in Detailed Research Report

The companies listed above are not only supplying essential materials for today’s electric vehicles—they’re developing the advanced composite solutions that will enable the next generation of lightweight, efficient, and sustainable mobility.