Europe Composites Market Prospects, Trends Analysis, Market Size And Forecasts Report 2019-2025 | Grand View Research, Inc.

August 25 09:30 2021
Europe Composites Market Prospects, Trends Analysis, Market Size And Forecasts Report 2019-2025 | Grand View Research, Inc.
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According to a new report published by Grand View Research, the market growth can be attributed to the increasing demand for lightweight materials in various industries such as wind energy, automotive, and transportation, and aerospace and defense.

The Europe composites market size is anticipated to reach USD 27.5 billion by 2025, according to a new report by Grand View Research, Inc., registering a 7.5% CAGR during the forecast period. Increasing demand for lightweight materials in the automotive industry is expected to drive product demand across the region. The growth of the aerospace and defense industry in Europe has triggered the demand for composites over the past few years and this trend is expected to continue over the forecast period. The presence of aerospace giants such as Airbus, Dassault Aviation, and Ariane Group in the region has propelled product demand.

Rising fuel prices has generated the need for fuel-efficient vehicles. Stringent regulations and growing environmental concerns regarding pollution control have forced automotive manufacturers to enhance their technologies and develop vehicles resulting in reduced levels of pollution. One of the most important factors affecting fuel efficiency and vehicular pollution is the overall weight of the vehicle. Favorable properties of composites, including higher strength to weight ratio, have led to their widespread use in the automotive industry as a replacement for aluminum and steel, which is anticipated to boost the market over the forecast period. Stringent environment regulations, especially in Europe, are forcing OEMs to significantly reduce CO2 emissions from vehicles. They have also compelled automotive manufacturers to include composites in the production process, which is expected to propel product demand in the coming years.

Glass fiber was the largest product segment in the Europe market in 2018, with a revenue share of 60.3%. The growth of automotive and wind energy industries in Germany is expected to drive the regional market. Carbon fiber is likely to register a CAGR of 10.0% in terms of volume from 2019 to 2025 owing to its ascending requirement in the construction industry.

Thermoplastic resin is projected to emerge as the fastest-growing segment at a CAGR of 9.4%, in terms of volume, over the forecast period. Ascending demand for cost-effective and high-performance resins in the renewable energy industry is expected to drive the regional market.

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Europe Composites Market Report Highlights

 The Europe composites market was worth USD 16.6 billion in 2018 and is projected to expand at a CAGR of 7.5% over the forecast period

 The thermosetting resin segment dominated Europe market in 2018 and is expected to register a CAGR of 7.3%, in terms of volume, from 2019 to 2025 owing to their widespread use in high temperature applications

 The resin transfer molding process segment was estimated at 164.1 kilo tons in 2018 and is expected to grow over the forecast period. RTM is the ideal process for obtaining high strength-to-weight ratio and mid-volume production ranging from 200 to 10,000 parts per year

 Wind energy is projected to emerge as the fastest-growing application segment in Europe over the forecast period

 The France market was valued at close to USD 3.0 billion and is expected to register a CAGR of 7.4% from 2019 to 2025. Product demand is expected to be propelled by latest advancements in manufacturing facilities in aerospace and automotive sectors

 Key players in the market include Teijin Limited, Owens Corning, Hexcel Corporation, Huntsman International LLC, DowDuPont, and Toray Industries

 In January 2019, Teijin Limited announced that it will supply Tenax TPUD, which is an intermediate advanced composite material for structural parts of Boeing commercial airplanes.

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Europe Composites Market Segmentation

Grand View Research has segmented the Europe composites market on the basis of product, resin, manufacturing process, end use, and country:                                                                                                                                    

Europe Composites Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2025)

     Carbon Fiber
    Glass Fiber
     Others

Europe Composites Resin Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2025)

     Thermosetting
    Thermoplastic
     Others

Europe Composites Manufacturing Process Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2025)      

     Layup Process
    Filament Winding Process
     Injection Molding Process
     Pultrusion Process
     Compression Molding Process
     Resin Transfer Molding Process
     Others

Europe Composites End-use Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2025)

     Automotive & Transportation
    Aerospace & Defense
     Electrical & Electronics
     Wind Energy
     Construction & Infrastructure
     Pipes & Tanks
     Marine
     Others

Europe Composites Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2025) 

        • Germany
        • U.K.
        • Spain
        • Italy
        • France
        • Rest of Europe
        

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Browse More Related Report:

Advanced Composites Market Size, Share & Trend Analysis Report By Product (Aramid, Carbon), By Application (Aerospace & Defense, Automotive, Construction), And Segment Forecasts, 2018 – 2024

About Grand View Research

Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.

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