Benelux Automotive Composites Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
Description
The Benelux Automotive Composites Market is projected to grow from USD 64.0 million in 2024 to USD 108.3 million by 2031, reflecting a compound annual growth rate (CAGR) of 7.8% from 2025 to 2031.
Executive Summary and Benelux Automotive Composites Market Analysis
The demand for automotive composites in Belgium, the Netherlands, and Luxembourg (Benelux) is steadily increasing, driven by advancements in the automotive industry. The region has a strong industrial base in automotive manufacturing, leading to a greater need for automotive composites. This has attracted several automotive companies to establish operations in the area. For instance, in January 2024, KW Automotive GmbH expanded its business by opening a manufacturing facility in Benelux, enhancing its position in the European market.
Benelux Automotive Composites Market Segmentation Analysis
Key segments contributing to the analysis of the automotive composites market include product type, resin type, technology, vehicle type, and application.
Product Type: The market is divided into glass fiber composites, carbon fiber composites, and others. In 2024, the glass fiber composites segment was the market leader.
Resin Type: The market is categorized into thermosets (including polyester, epoxy, vinyl ester, polyurethane, and others) and thermoplastics (including polyethylene, polypropylene, polycarbonate, polymethyl methacrylate, and others). The thermoplastics segment dominated the market in 2024.
Technology: The automotive composites market is segmented into pultrusion, injection molding, compression molding, and others. The injection molding segment held the largest share in 2024.
Vehicle Type: The market includes passenger cars, commercial vehicles, two-wheelers, and others. The passenger cars segment represented the largest share in 2024.
Application: The market is divided into structural assembly, powertrain components, interior, and exterior. The interior segment led the market in 2024.
Benelux Automotive Composites Market Outlook
The region is experiencing a significant shift towards electric vehicles (EVs) due to strengthened environmental regulations. The EV market in Belgium presents numerous opportunities for U.S. companies looking to expand or enter the market. In the coming years, Belgium's EV market is expected to grow significantly, driven by supportive government regulations, decreasing battery prices, and increasing consumer awareness. Key opportunities include the manufacture, innovation, retrofitting, recycling of batteries, EV charging infrastructure, and advanced vehicle components. Such growth in the automotive sector and the rising adoption of EVs in the region are anticipated to boost the demand for automotive composites throughout the forecast period.
Benelux Automotive Composites Market Country Insights
The Benelux automotive composites market is further divided into Belgium, the Netherlands, and Luxembourg. Belgium held the largest market share in 2024.
The automotive composites market in Belgium is experiencing notable growth, supported by favorable government policies and initiatives. The Belgian government prioritizes the automotive sector as a key revenue generator, encouraging foreign direct investment (FDI) in the industry, which bolsters local production capabilities and infrastructure development. According to the International Organization of Motor Vehicle Manufacturers, automotive production in Belgium reached 332,103 units in 2023, representing a 27% increase from 2021 to 2023. As the country’s economic outlook improves and household purchasing power rises, automobile sales are expected to increase, further supporting production levels. This surge in automotive production is driving the demand for automotive composites in Belgium.
Benelux Automotive Composites Market Company Profiles
Key players in the automotive composites market include Gurit Holding AG, Hexcel Corp, Mitsubishi Chemical Group Corp, SGL Carbon SE, Solvay SA, Teijin Ltd, DuPont de Nemours Inc., Toray Industries Inc., Atlas Fibre, and Elaghmore Advisor LLP. These companies employ strategies such as expansion, product innovation, and mergers and acquisitions to maintain competitiveness and provide innovative products to consumers.
Executive Summary and Benelux Automotive Composites Market Analysis
The demand for automotive composites in Belgium, the Netherlands, and Luxembourg (Benelux) is steadily increasing, driven by advancements in the automotive industry. The region has a strong industrial base in automotive manufacturing, leading to a greater need for automotive composites. This has attracted several automotive companies to establish operations in the area. For instance, in January 2024, KW Automotive GmbH expanded its business by opening a manufacturing facility in Benelux, enhancing its position in the European market.
Benelux Automotive Composites Market Segmentation Analysis
Key segments contributing to the analysis of the automotive composites market include product type, resin type, technology, vehicle type, and application.
Product Type: The market is divided into glass fiber composites, carbon fiber composites, and others. In 2024, the glass fiber composites segment was the market leader.
Resin Type: The market is categorized into thermosets (including polyester, epoxy, vinyl ester, polyurethane, and others) and thermoplastics (including polyethylene, polypropylene, polycarbonate, polymethyl methacrylate, and others). The thermoplastics segment dominated the market in 2024.
Technology: The automotive composites market is segmented into pultrusion, injection molding, compression molding, and others. The injection molding segment held the largest share in 2024.
Vehicle Type: The market includes passenger cars, commercial vehicles, two-wheelers, and others. The passenger cars segment represented the largest share in 2024.
Application: The market is divided into structural assembly, powertrain components, interior, and exterior. The interior segment led the market in 2024.
Benelux Automotive Composites Market Outlook
The region is experiencing a significant shift towards electric vehicles (EVs) due to strengthened environmental regulations. The EV market in Belgium presents numerous opportunities for U.S. companies looking to expand or enter the market. In the coming years, Belgium's EV market is expected to grow significantly, driven by supportive government regulations, decreasing battery prices, and increasing consumer awareness. Key opportunities include the manufacture, innovation, retrofitting, recycling of batteries, EV charging infrastructure, and advanced vehicle components. Such growth in the automotive sector and the rising adoption of EVs in the region are anticipated to boost the demand for automotive composites throughout the forecast period.
Benelux Automotive Composites Market Country Insights
The Benelux automotive composites market is further divided into Belgium, the Netherlands, and Luxembourg. Belgium held the largest market share in 2024.
The automotive composites market in Belgium is experiencing notable growth, supported by favorable government policies and initiatives. The Belgian government prioritizes the automotive sector as a key revenue generator, encouraging foreign direct investment (FDI) in the industry, which bolsters local production capabilities and infrastructure development. According to the International Organization of Motor Vehicle Manufacturers, automotive production in Belgium reached 332,103 units in 2023, representing a 27% increase from 2021 to 2023. As the country’s economic outlook improves and household purchasing power rises, automobile sales are expected to increase, further supporting production levels. This surge in automotive production is driving the demand for automotive composites in Belgium.
Benelux Automotive Composites Market Company Profiles
Key players in the automotive composites market include Gurit Holding AG, Hexcel Corp, Mitsubishi Chemical Group Corp, SGL Carbon SE, Solvay SA, Teijin Ltd, DuPont de Nemours Inc., Toray Industries Inc., Atlas Fibre, and Elaghmore Advisor LLP. These companies employ strategies such as expansion, product innovation, and mergers and acquisitions to maintain competitiveness and provide innovative products to consumers.
Table of Contents
161 Pages
- 1. Introduction
- 1.1 Business Market Insights Research Report Guidance
- 1.2 Market Segmentation
- 2. Executive Summary
- 2.1 Key Market Insights
- 2.2 Market Attractiveness
- 3. Research Methodology
- 3.1 Secondary Research
- 3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
- 4. Benelux Automotive Composites Market Landscape
- 4.1 Market Overview
- 4.2 Porter's Five Forces Analysis
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
- 4.3 Ecosystem Analysis
- 4.3.1 Raw Material Suppliers
- 4.3.2 Manufacturers
- 4.3.3 Distributors/Suppliers
- 4.3.4 End Users
- 5. Benelux Automotive Composites Market – Key Market Dynamics
- 5.1 Growth Drivers
- 5.1.1 Demand for Lightweight Materials
- 5.1.2 Rise of Electric and Hybrid Vehicles
- 5.1.3 Increased Demand for Durability and Performance
- 5.2 Market Opportunities
- 5.2.1 Growing Adoption of Lightweight Composites for Fuel Efficiency
- 5.2.2 Increased Use of Composites in Electric Vehicles
- 5.2.3 Development of Recyclable and Sustainable Composites
- 5.3 Future Trends
- 5.3.1 Increased Use of Carbon Fiber Composites
- 5.3.2 Advancements in Recycling and Sustainability
- 5.3.3 Integration of Smart Materials in Automotive Composites
- 5.4 Impact of Drivers and Restraints
- 6. Benelux Automotive Composites Market Regional Analysis
- 6.1 Benelux Automotive Composites Market Overview
- 6.2 Benelux Automotive Composites Market Revenue 2021-2031 (US$ Million)
- 6.3 Benelux Automotive Composites Market Forecast Analysis
- 7. Benelux Automotive Composites Market Analysis – by Fiber Type
- 7.1 Glass Fiber Composites
- 7.1.1 Overview
- 7.1.2 Glass Fiber Composites: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 7.2 Carbon Fiber Composites
- 7.2.1 Overview
- 7.2.2 Carbon Fiber Composites: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 8. Benelux Automotive Composites Market Analysis – by Resin Type
- 8.1 Thermoset
- 8.1.1 Overview
- 8.1.2 Thermoset: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 8.2 Thermoplastics
- 8.2.1 Overview
- 8.2.2 Thermoplastics: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 9. Benelux Automotive Composites Market Analysis – by Technology
- 9.1 Pultrusion
- 9.1.1 Overview
- 9.1.2 Thermoplastics: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 9.2 Injection Molding
- 9.2.1 Overview
- 9.2.2 Thermoplastics: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 9.3 Compression Molding
- 9.3.1 Overview
- 9.3.2 Thermoplastics: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 10. Benelux Automotive Composites Market – Benelux Analysis
- 10.1 Benelux
- 10.1.1 Benelux Automotive Composites Market Breakdown, by Key Country, 2025 and 2031 (%)
- 10.1.1.1 Benelux Automotive Composites Market – Revenue and Forecast Analysis – by Country
- 10.1.1.1 Belgium: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.1.1 Belgium: Benelux Automotive Composites Market Breakdown, by Fiber Type
- 10.1.1.1.2 Belgium: Benelux Automotive Composites Market Breakdown, by Resin Type
- 10.1.1.1.3 Belgium: Benelux Automotive Composites Market Breakdown, by Technology
- 10.1.1.2 Netherlands: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.2.1 Netherlands: Benelux Automotive Composites Market Breakdown, by Fiber Type
- 10.1.1.2.2 Netherlands: Benelux Automotive Composites Market Breakdown, by Resin Type
- 10.1.1.2.3 Netherlands: Benelux Automotive Composites Market Breakdown, by Technology
- 10.1.1.3 Luxembourg: Benelux Automotive Composites Market – Revenue and Forecast to 2031 (US$ Million)
- 10.1.1.3.1 Luxembourg: Benelux Automotive Composites Market Breakdown, by Fiber Type
- 10.1.1.3.2 Luxembourg: Benelux Automotive Composites Market Breakdown, by Resin Type
- 10.1.1.3.3 Luxembourg: Benelux Automotive Composites Market Breakdown, by Technology
- 11. Competitive Landscape
- 11.1 Heat Map Analysis
- 11.2 Company Positioning and Concentration
- 12. Benelux Automotive Composites Market Industry Landscape
- 12.1 Overview
- 12.2 Mergers and Acquisitions
- 12.3 Agreements, Collaborations, and Joint Ventures
- 12.4 New Product Launches
- 12.5 Expansions and Other Strategic Developments
- 13. Company Profiles
- 13.1 Gurit Holdings AG
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
- 13.2 Hexcel Corp
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
- 13.3 Mitsubhishi Chemical Group
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
- 13.4 SGL Carbon SE
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
- 13.5 Solvay SA
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
- 13.6 Teijin Ltd
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
- 13.7 DuPont de Numours Inc
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
- 13.8 Toray Industries
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
- 13.9 Atlas Fibre
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
- 13.10 Elaghmore Advisor LLP
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments
- 14. Appendix
- 14.1 About Business Market Insights
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