Europe Automotive Composites Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 150 | Report Code: BMIRE00031220 | Category: Chemicals and Materials
No. of Pages: 150 | Report Code: BMIRE00031220 | Category: Chemicals and Materials
The Europe Automotive Composites Market size is expected to reach US$ 4.85 billion by 2031 from US$ 2.21 billion in 2024. The market is estimated to record a CAGR of 10.3 % from 2024 to 2031.
The automotive composited market in Europe is experiencing significant growth driven by growing autromotive industry in the region. The automotive sector is a key contributor, particularly with the growing shift toward EVs. Countries such as Germany, France, Italy, and the UK are key players in the region, with established automotive industries that are increasingly adopting composite materials to enhance vehicle performance, reduce weight, and meet stringent environmental regulations. As Western Europe leads the transition to EVs, the demand for automotive composites in electric motors is accelerating. According to a European Automobile Manufacturers Association report, the car market in the region experienced a 13.9% growth in 2023 compared to 2022, reaching a volume of 10.5 million units.
Key segments that contributed to the derivation of the Europe automotive composites market analysis are type and application.
In 2023, the region witnessed a 34.6% rise in import value and volume of cars, while improved production and supply chain issues led to a 12.7% increase in export value and a 12.4% increase in export volume. Western European car producers experienced a significant increase in production, with Germany leading in volume terms with an 18.7% increase in 2023. Automotive manufacturers are developing more fuel-efficient and environmentally friendly vehicles to meet these standards. Composite materials such as fiberglass, carbon fiber, and natural fiber-based composites are used to replace traditional materials in vehicle body parts, interiors, and structural components. The automotive industry is also incorporating composites into autonomous and connected vehicles to reduce weight while improving safety and performance.
Europe also benefits from a robust supply chain and cost-effective manufacturing, which makes it an attractive region for investment in composite production. Government initiatives supporting the transition to sustainable automotive technologies boost market growth. However, challenges such as high material costs and the need for specialized expertise in composite manufacturing may limit widespread adoption in the short term. Overall, the automotive composites market in the region is poised for steady expansion as automakers continue to prioritize advanced materials for performance and sustainability.
Based on region, the Europe automotive composites market is further segmented into the Germany, France, Italy, Spain, UK, Russia, Poland, Austria, Switzerland, Sweden, Czech Republic, Denmark, Belgium, Netherlands, Hungary, Finland, Portugal, Romania, Greece, Ukraine, and the rest of Europe. Germany held the largest share in 2024.
The automotive composites market in Eastern Europe is experiencing significant growth due to rising demand for lightweight, fuel-efficient, and eco-friendly vehicles. The increasing automotive production, particularly in countries such as Hungary, Poland, and the Czech Republic, is driving this demand. Automotive manufacturers are increasingly adopting composite materials such as fiberglass and carbon fiber to enhance performance, reduce weight, and improve fuel economy. According to the World Trend Plus's Association: Automobile Sector – Table RA.OICA.MVP: Motor Vehicle Production: by country, automotive production in Poland increased from 483,840.000 units in 2022 to 612,882.000 units in 2023.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ 2.21 Billion |
| Market Size by 2031 | US$ 4.85 Billion |
| Global CAGR (2025 - 2031) | 10.3 % |
| Historical Data | 2022-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Fiber Type
|
| Regions and Countries Covered | Europe
|
Gurit Holding AG, Hexcel Corp, Mitsubishi Chemical Group Corp, SGL Carbon SE, Solvay SA, Teijin Ltd, DuPont de Nemours In, Toray Industries Inc, Atlas Fibre, and Elaghmore Advisor LLP are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note:
All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:
The Europe Automotive Composites Market is valued at US$ 2.21 Billion in 2024, it is projected to reach US$ 4.85 Billion by 2031.
As per our report Europe Automotive Composites Market, the market size is valued at US$ 2.21 Billion in 2024, projecting it to reach US$ 4.85 Billion by 2031. This translates to a CAGR of approximately 10.3 % during the forecast period.
The Europe Automotive Composites Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Automotive Composites Market report:
The Europe Automotive Composites Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Automotive Composites Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Automotive Composites Market value chain can benefit from the information contained in a comprehensive market report.
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