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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Market Analysis
It is anticipated that factors such as the rising demand for wind power and the growing demand from the automotive industry will increase the Europe composites market over the forecast period. Composite products play an important role in the manufacture of automotive and aircraft components. The growing concerns about energy consumption and concentrations of CO2 emissions have encouraged producers to use composite carbon fibre products as a substitute for metal parts. The demand for composites in the automotive sector is anticipated to drive technological innovations to minimize the production cycle time, thus aiding the Europe composites market. The increasing demand in the automotive sector for high-quality composite materials is expected to guide the investment in the development of new manufacturing techniques. The increasing demand for composites is expected to increase the market over the forecast period in the automotive industry. Aerospace is one of Europe's fastest-growing business industries, which is expected to aid the composites market in the region.
Europe Composites Market Report Snapshots
Europe Composites Market Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Europe composites market attained a value of nearly USD 18.4 billion in 2023.
The market is projected to grow at a CAGR of 5.1% between 2024 and 2032.
The major market drivers include the increasing demand for composites in end-use sectors such as wind energy, automotive and transportation, and aerospace and defence.
Factors such as the rising demand for wind power, the increasing demand for composites in the automotive sector, and growing concerns about greenhouse gas emissions are key trends driving the growth of the market.
The major countries in the market for composites in Europe include the United Kingdom, France, Italy, and Germany, among others.
The various products in the market include carbon fibre and glass fibre, among others.
The different resins considered in the market report are thermosetting and thermoplastic.
Layup process, filament winding process, injection moulding process, pultrusion process, compression moulding process, and resin transfer moulding process, among others, are the major methods of manufacturing process in the market.
The significant end uses of composites are automotive and transportation, aerospace and defence, wind energy, electrical and electronics, construction and infrastructure, pipes and tanks, and marine, among others.
The major players in the market are SGL Carbon SE, Hexcel Corporation, Teijin Limited, Solvay SA, Gurit Holding AG, and FMC Composites, among others.
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