The Western Europe Automotive Composites Market size is expected to reach US$ 3.93 billion by 2031 from US$ 1.75 billion in 2023. The market is estimated to record a CAGR of 10.7 % from 2024 to 2031. 

Executive Summary

In 2023, the Western European automotive industry saw a strong upturn. Car import values jumped by 34.6%, and volumes by 12.7%. Concurrently, exports also saw significant gains, with a 12.7% rise in value and a 12.4% increase in volume, driven by enhanced production and streamlined supply chains. Germany was a key contributor, with its production volume increasing by 18.7%. To comply with escalating environmental regulations, automotive manufacturers are increasingly using lightweight composite materials such as fiberglass, carbon fiber, and natural fiber-based composites in various vehicle parts. The growing adoption of composites in autonomous and connected vehicles to reduce weight and improve safety and performance is also a key driver for market demand in the region.

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Western Europe Automotive Composites Market Outlook

Western Europe presents an attractive environment for composite production investment, characterized by a resilient supply chain and cost-efficient manufacturing. Government policies supporting the transition to sustainable automotive technologies are further accelerating market expansion. Nonetheless, challenges such as elevated material costs and the necessity for specialized expertise in composite manufacturing could temporarily hinder broad adoption. Overall, the automotive composites market in the region is poised for consistent growth as automakers continue to prioritize advanced materials for performance and sustainability.

The automotive sector plays a pivotal role, particularly with the intensifying shift towards electric vehicles. Major players like Germany, France, Italy, and the UK, boasting established automotive industries, are increasingly adopting composite materials to boost vehicle performance, reduce weight, and adhere to stringent environmental regulations. As Western Europe leads the EV transition, the demand for automotive composites in electric motors is rapidly escalating. A report from the European Automobile Manufacturers Association indicated that the car market in the region grew by 13.9% in 2023 compared to 2022, reaching a volume of 10.5 million units.

Western Europe Automotive Composites Market Segmentation

Western Europe Automotive Composites Market By Fiber Type

·         Glass Fiber Composites

·         Carbon Fiber Composites

Western Europe Automotive Composites Market By Resin Type

·         Thermoset

·         Thermoplastics

Western Europe Automotive Composites Market By Technology

·         Pultrusion

·         Injection Molding

·         Compression Molding

Western Europe Automotive Composites Market By Vehicle Type

·         Passenger Cars

·         Commercial Vehicles

·         Two Wheelers

Western Europe Automotive Composites Market Regions and Countries Covered         

Western Europe

·         Belgium

·         Netherlands

·         Luxembourg

·         UK

·         Germany

·         France

·         Italy

·         Spain

·         Switzerland

·         Sweden

·         Austria

·         Denmark

·         Portugal

·         Norway

·         Finland

Western Europe Automotive Composites Market Market leaders and key company profiles    

·         Gurit Holdings AG

·         Hexcel Corp

·         Mitsubhishi Chemical Group

·         SGL Carbon SE

·         Solvay SA

·         Teijin Ltd

·         DuPont de Numours Inc

·         Toray Industries

·         Atlas Fibre

·         Elaghmore Advisor LLP

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