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

The Western Europe Automotive Composites Market is expected to reach USD 3.9 billion by 2031, up from USD 1.74 billion in 2024. The market is projected to grow at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2031.

Executive Summary and Market Analysis:

In 2023, the region saw a 34.6% increase in the import value and volume of cars. Improved production and resolution of supply chain issues led to a 12.7% rise in export value and a 12.4% increase in export volume. Western European car manufacturers experienced significant production increases, with Germany leading in volume, reporting an 18.7% growth in 2023. Automotive manufacturers are focusing on developing more fuel-efficient and environmentally friendly vehicles to meet evolving standards. Composite materials, including fiberglass, carbon fiber, and natural fiber-based composites, are increasingly being used to replace traditional materials in vehicle body parts, interiors, and structural components. Additionally, the automotive industry is integrating composites into autonomous and connected vehicles to reduce weight while enhancing safety and performance. These factors are driving the demand for automotive composites in the region.

Market Segmentation Analysis:

The key segments contributing to the Western Europe automotive composites market analysis include fiber type, resin type, technology, vehicle type, and application.

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.

Resin Type: The market is divided into thermoset and thermoplastic segments. The thermoplastic segment held the largest share in 2024.

Technology: The market is segmented into pultrusion, injection molding, compression molding, and others. The injection molding segment was the largest in 2024.

Vehicle Type: This segment includes passenger cars, commercial vehicles, two-wheelers, and others. The passenger cars segment accounted for the largest share in 2024.

Application: The market comprises structural assembly, powertrain components, interior, and exterior applications. The interior segment held the largest market share in 2024.

Market Outlook:

Western Europe boasts a robust supply chain and cost-effective manufacturing, making it an attractive region for investment in composite production. Government initiatives promoting the transition to sustainable automotive technologies further encourage market growth. However, challenges like high material costs and the need for specialized expertise in composite manufacturing may hinder widespread adoption in the short term. Overall, the automotive composites market in the region is positioned for steady growth as automakers continue to prioritize advanced materials for enhanced performance and sustainability.

The automotive sector plays a crucial role, particularly with the increasing shift towards electric vehicles (EVs). Germany, France, Italy, and the UK are prominent players in the region, each with a well-established automotive industry that is increasingly adopting composite materials to improve vehicle performance, reduce weight, and comply with stringent environmental regulations. As Western Europe leads the transition to EVs, demand for automotive composites in electric motors is accelerating. According to a report from the European Automobile Manufacturers Association, the car market in the region experienced a 13.9% growth in 2023 compared to the previous year, reaching a volume of 10.5 million units.

Country Insights:

The Western Europe automotive composites market is further segmented into countries, including Belgium, Netherlands, Luxembourg, Germany, France, Italy, Spain, Switzerland, Sweden, Austria, the United Kingdom, Denmark, Portugal, Norway, and Finland. Germany recorded the largest market share in 2024.

Germany is one of the largest automotive markets in Europe, accounting for 32% of total car production in the region in 2023. A report from the European Automobile Manufacturers Association indicated that German manufacturers produced more than 3.96 million car units in 2023 and registered 2.84 million new cars the same year. Germany is a significant exporter of motor vehicles, vehicle components, and machinery, which supports the growth of the automotive composites market in the country. Major automotive companies, such as BMW AG, Volkswagen, and Audi, are headquartered in Germany, reinforcing its status as a global hub for automobile production. Consequently, the demand for reliable and durable composites is substantial.

Company Profiles:

Key companies in the Western Europe 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 Advisory. Show more