Europe Advanced Composites Market Statistics, Growth Prospective, Industry research -2028
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.
Europe’s Advanced Composites Market: Fueling Growth Across Key Industries
The Europe advanced composites market is experiencing significant market growth, primarily driven by the increasing demand for lightweight materials in the aerospace & defense industry. These composites are essential for the safety and efficiency of modern aircraft, and manufacturers are actively adopting them to reduce aircraft weight, which in turn leads to lower fuel consumption. This push for lighter materials also supports the development of hybrid and electric aircraft.
Beyond Aerospace: Diverse Applications Driving Demand
Beyond aerospace, several other factors are contributing to the robust growth of the Europe advanced composites market:
- Wind Energy Installations: The rising demand for sustainable renewable energy, coupled with the increasing installation of onshore and offshore wind turbines in countries like Sweden, Finland, Germany, and France, is boosting the demand for advanced composites. These materials are preferred for wind energy applications due to their non-conductive nature, durability, lighter weight (compared to wood or steel), and resistance to corrosion, heat, harsh weather, and flame. In 2022 alone, Europe saw 19.1 GW of new wind installations.
- Automotive Manufacturing: Europe’s prominent automotive industry, which contributes significantly to the GDP of many European nations, is also a major driver. Leading automotive players like Volkswagen AG, Stellantis NV, Mercedes-Benz Group AG, Bayerische Motoren Werke AG, and Renault SA are increasingly incorporating advanced composites into their vehicles. These composites can constitute a notable portion of a vehicle’s weight (e.g., 6-8% in some BMW and Lamborghini models), highlighting their crucial role in lightweighting efforts within the automotive sector.
- Construction Activities: Growing construction activities across the region further contribute to the demand for advanced composites, though the provided text doesn’t elaborate on specific applications within this sector.
In summary, the increasing adoption of lightweight materials across the aerospace & defense, wind energy, and automotive industries is propelling the growth of the Europe advanced composites market.
Europe Advanced Composites Market Segmentation
The Europe advanced composites market is segmented by fiber type, matrix type, end-use industry, and country.
Europe advanced composites market By Fiber Type
The market is divided into:
- Carbon fiber composites (dominant segment in 2022)
- Aramid fiber composites
- Glass fiber composites
- Others
Europe advanced composites market By Matrix Type
Segmentation includes:
- Epoxy resin (leading segment in 2022)
- Phenolics
- Polyester resin
- Polyurethane resin
- Polyphenylene sulfide (PPS)
- Polyetherimide (PEI)
- Others
Europe advanced composites market By End-Use Industry
Key sectors are:
- Aerospace & defense (largest market share in 2022)
- Automotive
- Wind energy
- Building & construction
- Electrical & electronics
- Others
Europe advanced composites market By Country
The market is analyzed across:
- Germany (dominant in 2022)
- UK
- France
- Italy
- Russia
- Rest of Europe
Europe advanced composites market Key Players
Leading companies operating in the Europe advanced composites market include:
- Avient Corp
- Ensinger GmbH
- Johns Manville Corp
- Mitsubishi Chemical Corp
- Owens Corning
- SGL Carbon SE
- Solvay SA
- Tecnaro GmbH
- Teijin Ltd
- Toray Industries Inc
This structured segmentation provides a clear overview of the market dynamics, key segments, and major players shaping the Europe advanced composites industry.
Europe advanced composites market 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 market 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.
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Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights