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, Western Europe’s automotive industry experienced significant dynamism. Car import values soared by 34.6% and volumes by 12.7%, while exports also showed strong gains—12.7% in value and 12.4% in volume—driven by enhanced production and streamlined supply chains. Germany notably contributed to this surge, increasing its production volume by 18.7%. To comply with escalating environmental regulations, automotive manufacturers are increasingly integrating lightweight composite materials such as fiberglass, carbon fiber, and natural fiber-based composites into vehicle body parts, interiors, and structural components. 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 is an attractive hub 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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