Europe Automotive Composites Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Europe Automotive Composites Market is projected to reach a size of US$ 5.14 billion by 2031, up from US$ 2.39 billion in 2024. This market is expected to grow at a compound annual growth rate (CAGR) of 12.0% from 2024 to 2031.

Executive Summary and Market Analysis:

The automotive composites market in Europe is experiencing significant growth, driven by the expanding automotive industry in the region. The automotive sector is a crucial contributor, particularly due to the increasing shift toward electric vehicles (EVs). Key players in the region include Germany, France, Italy, and the UK, where established automotive industries are increasingly adopting composite materials to enhance vehicle performance, reduce weight, and comply with stringent environmental regulations. As Western Europe leads the transition to EVs, the demand for automotive composites in electric motors is rising. According to a report by the European Automobile Manufacturers Association, the car market in the region saw a 13.9% growth in 2023 compared to 2022, reaching a volume of 10.5 million units.

Market Segmentation Analysis:

The Europe automotive composites market analysis is segmented by fiber type, resin type, technology, vehicle type, and application.

By Fiber Type: The market is segmented into Glass Fiber Composites, Carbon Fiber Composites, and Others. The glass fiber composites segment held the largest market share in 2024.

By Resin Type: The market is bifurcated into Thermoset and Thermoplastics. The thermoplastics segment held a larger share of the market in 2024.

By Technology: The market is classified into Pultrusion, Injection Molding, Compression Molding, and Others. The injection molding segment held the largest market share in 2024.

By Vehicle Type: The market is categorized into Passenger Cars, Commercial Vehicles, Two-Wheelers, and Others. In 2024, the passenger cars segment held the largest share of the market.

By Application: The market is classified into Structural Assembly, Powertrain Components, Interior, and Exterior. The interior segment held the largest market share in 2024.

Market Outlook:

In 2023, Europe experienced a 34.6% increase in the import value and volume of cars, while improvements in 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 manufacturers saw significant production increases, with Germany leading with an 18.7% rise in 2023. Automotive manufacturers are focusing on developing more fuel-efficient and environmentally friendly vehicles to meet industry standards. Composite materials such as fiberglass, carbon fiber, and natural fiber-based composites are increasingly replacing traditional materials in vehicle body parts, interiors, and structural components. The integration of composites into autonomous and connected vehicles further contributes to reducing weight while enhancing safety and performance.

Europe benefits from a robust supply chain and cost-effective manufacturing, making it an attractive region for investment in composite production. Government initiatives that support the transition to sustainable automotive technologies also promote market growth. However, challenges such as high material costs and the need for specialized expertise in composite manufacturing could limit widespread adoption in the short term. Overall, the automotive composites market in the region is well-positioned for continued expansion as automakers prioritize advanced materials for improved performance and sustainability.

Country Insights:

The Europe automotive composites market is further segmented by country, including Germany, France, Italy, Spain, the UK, Russia, Poland, Austria, Switzerland, Sweden, the Czech Republic, Denmark, Belgium, the 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 also experiencing significant growth due to the rising demand for lightweight, fuel-efficient, and eco-friendly vehicles. The increasing automotive production in countries like 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 Association, automotive production in Poland increased from 483,840 units in 2022 to 612,882 units in 2023.

Company Profiles:

Key players in the Europe automotive composites market include Gurit Holding AG, Hexcel Corporation, Mitsubishi Chemical Group Corporation, SGL Carbon SE, Solvay SA, Teijin Ltd, DuPont de Nemours, Toray Industries Inc., Atlas Fibre, and Elaghmore Advisor LLP. These companies are actively operating in the market and contributing to its growth. Show more