Europe Automotive Composites Market Key Details and Outlook by Top Companies (2024-2031)

The Europe Automotive Composites Market size is expected to reach US$ 4.85 billion by 2031 from US$ 2.21 billion in 2024. The market is estimated to record a CAGR of 10.3 % from 2024 to 2031.

Executive Summary and Europe Automotive Composites Market Analysis

Europe's market for automotive composites is showing considerable expansion, primarily fueled by the growth of the region's automotive industry. The automotive sector is a key driver of demand, particularly with the accelerating trend towards electric vehicles (EVs). Major European countries such as Germany, France,
Italy, and the UK, with their established automotive industries, are increasingly adopting composite materials. This adoption is aimed at improving vehicle performance, reducing weight, and meeting stricter environmental regulations. As Western Europe takes a leading role in EV adoption, the demand for automotive composites in electric powertrains is rapidly increasing. Information from the European Automobile Manufacturers Association reveals that the European car market experienced a significant 13.9% growth in 2023 compared to 2022, reaching a volume of 10.5 million units.

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Europe Automotive Composites Market Outlook

In 2023, the European region witnessed a substantial 34.6% increase in both the value and volume of car imports. Simultaneously, enhanced production and the resolution of supply chain challenges resulted in a 12.7% increase in export value and a 12.4% increase in export volume. Western European car producers
experienced significant production growth, with Germany leading in volume, showing an 18.7% increase in 2023. Automotive manufacturers are increasingly focusing on developing more fuel-efficient and environmentally sound vehicles to meet evolving standards. Composite materials, such as fiberglass, carbon fiber, and natural fiber-based alternatives, are being used to replace traditional materials in vehicle body parts, interiors, and structural elements. Moreover, the automotive industry is incorporating composites into the development of autonomous and connected vehicles to reduce weight while enhancing safety and performance.

Europe also benefits from a well-established supply chain and cost-efficient manufacturing processes, making it an attractive region for investment in composite production. Government initiatives supporting the transition to sustainable automotive technologies further boost market growth. However, challenges like
high material costs and the need for specialized expertise in composite manufacturing may temporarily limit widespread adoption. Overall, the European automotive composites market is expected to continue its steady expansion as automakers increasingly prioritize advanced materials for their performance and
sustainability advantages.

Europe Automotive Composites Market Segmentation

Europe Automotive Composites Market: By Fiber Type

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Glass Fiber Composites

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Carbon Fiber Composites

Europe Automotive Composites Market: By Resin Type

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Thermoset

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Thermoplastics

Europe Automotive Composites Market: By Technology

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Pultrusion

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Injection Molding

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Compression Molding

Europe Automotive Composites Market: By Vehicle Type

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Passenger Cars

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Commercial Vehicles

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Two Wheelers

Europe Automotive Composites Market: Regions and Countries Covered

Europe

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UK

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Germany

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France

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Russia

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Italy

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Rest of Europe

Europe Automotive Composites Market: Market leaders and key company profiles      

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Gurit Holdings AG

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Hexcel Corp

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Mitsubhishi Chemical Group

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SGL Carbon SE

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Solvay SA

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Teijin Ltd

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DuPont de Numours Inc

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Toray Industries

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Atlas Fibre

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Elaghmore Advisor LLP

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