Europe Composites Market Analysis by Current Status and Growth Opportunities, Top Key Players, and Industry research by 2028

The Europe composites market is expected to grow from US$ 18,760.27 million in 2022 to US$ 25,145.13 million by 2028. It is estimated to grow at a CAGR of 5.0% from 2022 to 2028.   

The Europe composites market is experiencing significant growth, primarily fueled by the increasing adoption of glass-fiber composites across various end-use industries. These composites, formed by embedding thin strands of silica-based glass fibers (such as A-glass, C-glass, E-glass, etc.) within a resin matrix, offer a compelling combination of properties. Their lightweight nature, high strength, design flexibility, ease of molding, low friction coefficient, and fatigue resistance make them ideal for a wide range of applications.

Versatile Applications Driving Demand

The rising utilization of glass-fiber composites is particularly notable in several key sectors:

• Construction: The demand for construction composites is on the rise, driven by the increasing use of advanced construction techniques and a growing construction sector in Europe. These composites contribute to innovative building designs and improved structural performance.
• Marine: In the marine industry, glass-fiber composites are extensively used for designing and manufacturing large composite structures. Key applications include bearings, propellers, commercial hatch covers, exhausts, and topside structures, benefiting from the composites’ durability and resistance to harsh marine environments.
• Sporting Goods: The unique properties of glass-fiber composites make them highly suitable for sports facilities, goods, and equipment. They are commonly found in items like tennis rackets, golf clubs, bicycles, skis, and fitness equipment, where their lightweight and high-strength characteristics enhance performance and user experience.
• Wind Energy: This sector is a significant consumer of composites, with manufacturers focusing on developing highly efficient materials for wind turbine components, especially high-strength rotor blades.

Europe Composites Market Overview

The overall growth of the Europe composites market is closely tied to the expansion of its core end-use industries.

• Construction Sector Growth: Europe’s construction sector is booming, propelled by population growth and evolving remodeling trends that emphasize accessibility, customization, and technological integration. Substantial investments from both governments and private entities in infrastructure and construction projects are further boosting the market. For instance, in 2020, the European Union (EU) invested an impressive US$1.4 trillion in construction, with a 4.2% increase in 2021. Countries like Germany, France, the UK, Italy, and Spain collectively accounted for over 70% of the EU’s total investments in building and other structures, with the residential sector making up 51% of this investment.
• Renewable Energy Focus: The increasing reliance on renewable energy sources, particularly wind power, also contributes significantly to the composites market. In 2021, wind energy constituted 37% of the total energy generated from renewable sources in the EU. This strong emphasis on wind energy necessitates continuous innovation in composite materials to meet the demanding requirements for high-performance wind turbine components.

Europe Composites Market Segmentation

The Europe composites market is segmented by fiber type, resin type, end-use industry, and country.

Europe composites market By Fiber Type

• Carbon Fiber Composites
• Glass Fiber Composites (Dominates the market, holding the largest share in 2022)
• Others

Europe composites market By Resin Type

• Thermoset (Held a larger market share in 2022)
  • Polyester
  • Vinyl Ester
  • Epoxy
  • Polyurethane
  • Others
• Thermoplastic
  • Polypropylene
  • Polyethylene
  • Polyvinyl Chloride (PVC)
  • Polystyrene
  • Polyethylene Terephthalate (PET)
  • Polycarbonate
  • Others

Europe composites market By End-Use Industry

• Automotive (Largest market share in 2022)
• Aerospace & Defense
• Wind Energy
• Construction
• Marine
• Sporting Goods
• Others

Europe composites market By Country

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe (Dominates the market, holding the largest share in 2022)

Europe composites market Key Market Players

Leading companies operating in the Europe composites market include:

• DuPont de Nemours, Inc.
• Gurit Holding AG
• Hexion Inc.
• Mitsubishi Chemical Holdings Corp.
• Nippon Electric Glass Co., Ltd.
• Owens Corning
• SGL Carbon SE
• Solvay SA
• Teijin Ltd.
• Toray Industries, Inc.

This structured segmentation provides a comprehensive overview of the Europe composites market, highlighting key trends and dominant segments.

Europe composites market Insights

Strategic insights for the Europe 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 composites market Regional Insights

The geographic scope of the Europe 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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Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights