Europe Advanced Composites Market Growth
Analysis by Forecast to 2028

The Europe Advanced Composites Market is expected to grow from US$ 15,999.44 million in 2022 to US$ 28,306.07 million by 2028. It is estimated to grow at a CAGR of 10.0% from 2022 to 2028.

Europe's Advanced Composites Market Driven by Aerospace and Renewable Energy Demands

The Europe advanced composites market is experiencing significant growth, fueled by the aerospace and renewable energy sectors. In the aerospace industry, the demand for lightweight materials is paramount for improving aircraft efficiency and reducing fuel consumption. Advanced composites, significantly lighter than traditional metals, are increasingly used in aircraft components, driving market expansion. Initiatives focused on developing lightweight solutions for hybrid and electric aircraft further bolster this trend.

Europe Advanced Composites Market Segments Covered

Europe Advanced Composites Market By Fiber Type

• Carbon Fiber Composites
• Aramid Fiber Composites
• Glass Fiber Composites

Europe Advanced Composites Market By Matrix Type

• Epoxy Resin
• Phenolics
• Polyester Resin
• Polyurethane Resin
• Polyphenylene Sulfide
• Polyetherimide

Europe Advanced Composites Market By End-Use Industry

• Aerospace & Defense
• Automotive
• Wind Energy
• Building & Construction
• Electrical & Electronics

Europe Advanced Composites Market Regions and Countries Covered

Europe

• UK
• Germany
• France
• Russia
• Italy
• Rest of Europe

Europe Advanced Composites Market leaders and key company profiles

• Avient Corp
• Ensinger GmbH
• Johns Manville Corp
• Mitsubishi Chemical Corp
• Owens Corning
• SGL Carbon SE
• Solvay SA
• Tecnaro GmbH
• Teijin Ltd
• Toray Industries Inc

Europe Advanced Composites Market Growth Factors:

• Renewable Energy: The burgeoning wind energy sector is a major catalyst for growth. The installation of both onshore and offshore wind turbines across Europe, particularly in Sweden, Finland, Germany, and France, necessitates durable and lightweight materials. Advanced composites, with their non-conductive, corrosion-resistant, and weather-resistant properties, are ideal for this application. Data from WindEurope VZW/ASBL indicates substantial new wind installations, highlighting the sector's expansion.
• Automotive Industry: Europe's robust automotive industry, contributing significantly to the region's GDP, also drives demand. Leading manufacturers like Volkswagen AG, Stellantis NV, Mercedes-Benz Group AG, Bayerische Motoren Werke AG, and Renault SA utilize advanced composites to reduce vehicle weight and enhance performance. Reports indicate that composites constitute a notable percentage of vehicle weight in high-performance cars.
• Construction: Increased construction activities within Europe also contributes to market growth.

Strategic Europe Advanced Composites Market Insights:

To capitalize on this dynamic market, stakeholders require data-driven strategic insights. These insights provide:

• Analysis of current market trends, key players, and regional variations.
• Identification of untapped market segments and opportunities for unique value propositions.
• Prediction of future market shifts through data analytics.
• Actionable recommendations for informed decision-making, enabling competitive advantage and long-term success.

By leveraging these strategic insights, investors, manufacturers, and other stakeholders can effectively navigate the European advanced composites market and achieve their business objectives.

Other Reports:

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About Us:

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