Europe Advanced Composites Market

The Europe advanced composites market is expected to grow from US$ 15,999.44 million in 2022 to US$ 28,306.07 million by 2028. It is estimated to grow at a CAGR of 10.0% from 2022 to 2028.

Growing Demand for Lightweight Materials in Aerospace & Defense Industry is Fuelling Europe Advanced Composites Market 

Advanced composites are crucial for the safety and efficient performance of modern aircraft. The increasing need for lightweight materials to construct aviation components and parts has significantly increased the demand for advanced composites. Aircraft manufacturers are making efforts to develop huge primary thermoplastic structures in business jets and commercial aircrafts. They were the early adopters of long fiber-reinforced thermoplastics. Materials such as composites and polymers are significantly lighter than steel, brass, alloys, iron, etc. The use of these materials allows manufacturers to lower the weight of airplane parts, subsequently facilitating fuel cost reductions. Several initiatives are focused on creating lightweight materials and parts that reduce fuel consumption and help in the adoption of hybrid and electric planes. Thus, the growing demand for lightweight materials in the aerospace & defense industry is driving the Europe advanced composites market growth.

Europe Advanced Composites Market Overview 

The Europe advanced composites market growth is attributed to the growing installation of onshore and offshore wind energy, increasing automotive manufacturing, and rising construction activities in the region. Rising demand for sustainable renewable energy, coupled with the growing installation of wind turbines in Sweden, Finland, Germany, and France, are boosting the demand for advanced composites. According to the WindEurope VZW/ASBL, in 2022, new wind installations in Europe amounted to 19.1 GW. The 16.7 GW onshore and 2.5 GW offshore wind installation was established across Europe. Advanced composites are used in the installation of wind energy as they are non-conductive, durable, and lighter than wood or steel, which makes them easier to install. In addition, the demand for advanced composites has increased as their usage in wind turbines helps enhance performance, owing to various properties of the material, including resistance to corrosion, heat, harsh weather, and flame. Moreover, the automotive industry is a major industry in Europe as it contributed significantly to the GDP growth of many European countries, including Germany, the UK, and Italy. According to the report by European Commission, in 2021 turnover generated by the automotive industry in Europe represents 7% of the region’s total GDP. Additionally, the presence of prominent automotive players, including Volkswagen AG, Stellantis NV, Mercedes-Benz Group AG, Bayerische Motoren Werke AG, and Renault SA, significantly contribute to the demand for advanced composites. As per the US Commercial Service report, companies such as Bayerische Motoren Werke AG and Automobili Lamborghini SpA produce cars that constitute composites, making ~6-8% of vehicle weight. Therefore, the growing use of advanced composites in the automotive, energy, and other end-use industries is expected to propel the growth of the market over the coming years.

Europe Advanced Composites Market Revenue and Forecast to 2028 (US$ Million)

Europe Advanced Composites Strategic Insights

Strategic insights for the Europe Advanced Composites provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Europe Advanced Composites Report Scope

Europe Advanced Composites Regional Insights

The geographic scope of the Europe Advanced Composites refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

Europe Advanced Composites Market Segmentation  

The Europe advanced composites market is segmented based on fiber type, matrix type, end-use industry, and country.

Based on fiber type, the Europe advanced composites market is segmented into carbon fiber composites, aramid fiber composites, glass fiber composites, and others. The carbon fiber composites segment held the largest share of the Europe advanced composites market in 2022.

Based on matrix type, the Europe advanced composites market is segmented into epoxy resin, phenolics, polyester resin, polyurethane resin, polyphenylene sulfide (PPS), polyetherimide (PEI), and others. The epoxy resin segment held the largest share of the Europe advanced composites market in 2022.

Based on end-use industry, the Europe advanced composites market is segmented into aerospace & defense, automotive, wind energy, building & construction, electrical & electronics, and others. The aerospace & defense segment held the largest share of the Europe advanced composites market in 2022. 

Based on country, the Europe advanced composites market has been categorized into the UK, Germany, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany dominated the Europe advanced composites market in 2022.     

Avient Corp, Ensinger GmbH, Johns Manville Corp, Mitsubishi Chemical Corp, Owens Corning, SGL Carbon SE, Solvay SA, Tecnaro GmbH, Teijin Ltd, and Toray Industries Inc are the leading companies operating in the Europe advanced composites market.