According to the report by Expert Market Research (EMR), the Europe composites market grew substantially in 2023. Aided by the burgeoning demand for lightweight, durable, and versatile materials, coupled with their expanding applications in a slew of industries, the market is projected to further grow at a CAGR of 5.1% between 2024 and 2032.
Composites, essentially constituted of two or more distinct materials, amalgamate to offer properties distinct from their individual components, predominantly combining a matrix and a reinforcement. In the European context, composites, particularly those integrating carbon and glass fibres, have been enjoying surging prominence. The reason is their enhanced strength-to-weight ratios, corrosion resistance, and design flexibility.
The automotive and aerospace sectors in Europe stand as dominant driving forces behind the surge in Europe composites market demand. With both industries vying for materials that allow weight reduction, enhance fuel efficiency, and reduce carbon emissions without compromising structural strength, composites have emerged as the materials of choice. The European aerospace industry, renowned globally, constantly seeks advanced composites for crafting aircraft components, ensuring optimal performance and longevity.
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Beyond aerospace and automotive realms, Europe’s thriving wind energy sector, which is on a steadfast journey towards carbon-neutral goals, extensively deploys composites in wind turbine blades. Their inherent attributes, such as light weight, resilience, and longevity, make them perfect candidates for the renewable energy sector.
According to the Europe composites market analysis, the European construction and infrastructure industry is undergoing a revolution with the integration of composites in architectural ventures. The appeal lies in the material’s ability to resist external elements, longevity, and the design liberty it extends, allowing for innovative and aesthetic constructions.
Additionally, the rapid rise of electric vehicles (EVs) in the European circuit provides a fresh impetus to the Europe composites market growth. As EV manufacturers endeavour to offset the weight of heavy batteries and enhance vehicle range, the role of composites becomes indispensable.
Marine applications in Europe, with an emphasis on luxury yachts and high-speed boats, further the case for composites. The material’s resistance to saltwater corrosion, combined with its lightweight nature, ensures optimal marine performance, making it a preferred choice for marine applications.
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Europe Composites Market Segmentation
The market can be divided based on product, method of manufacturing process, end use, and country.
Market Breakup by Product
- Carbon Fibre
- Glass Fibre
- Others
Market Breakup by Resin
- Thermosetting
- Thermoplastic
Market Breakup by Method of Manufacturing Process
- Layup Process
- Filament Winding Process
- Injection Molding Process
- Pultrusion Process
- Compression Molding Process
- Resin Transfer Molding Process
- Others
Market Breakup by End Use
- Automotive and Transportation
- Aerospace and Defence
- Wind Energy
- Electrical and Electronics
- Construction and Infrastructure
- Pipes and Tanks
- Marine
- Others
Market Breakup by Country
- United Kingdom
- Germany
- Italy
- France
- Others
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Europe composites market. Some of the major players explored in the report by Expert Market Research are as follows:
- SGL Carbon SE
- Hexcel Corporation
- Teijin Limited
- Solvay SA
- Gurit Holding AG
- FMC Composites
- Others
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