The Europe Automotive Composites Market size is expected to reach US$ 4.85 billion by 2031 from US$ 2.21 billion in 2024. The market is estimated to record a CAGR of 10.3 % from 2024 to 2031.
Executive Summary and Europe Automotive Composites Market Analysis:
The automotive composited market in Europe is experiencing significant growth driven by growing autromotive industry in the region. The automotive sector is a key contributor, particularly with the growing shift toward EVs. Countries such as Germany, France, Italy, and the UK are key players in the region, with established automotive industries that are increasingly adopting composite materials to enhance vehicle performance, reduce weight, and meet stringent environmental regulations. As Western Europe leads the transition to EVs, the demand for automotive composites in electric motors is accelerating. According to a European Automobile Manufacturers Association report, the car market in the region experienced a 13.9% growth in 2023 compared to 2022, reaching a volume of 10.5 million units.
Europe Automotive Composites Market Segmentation Analysis:
Key segments that contributed to the derivation of the Europe automotive composites market analysis are type and application.
- On the basis of fiber type, the automotive composites market is segmented into glass fiber composites, carbon fiber composites, others. The glass fiber composites segment held the largest share of the market in 2024.
- In terms of resin type, the market is segmented into thermoset and thermoplastics. The thermoplastics segment held the largest share of the market in 2024.
- On the basis of technology, the market is segmented into pultrusion, injection molding, compression molding, others. The injection molding segment held the largest share of the market in 2024.
- In terms of vehicle type, the market is segmented into passenger cars, commercial vehicles, two wheelers and others. The passenger cars segment held the largest share of the market in 2024.
- In terms of application, the market is segmented into structual assembly, powertrain component, interior, exterior. The interior segment held the largest share of the market in 2024.
Europe Automotive Composites Market Outlook
In 2023, the region witnessed a 34.6% rise in import value and volume of cars, while improved production and supply chain issues led to a 12.7% increase in export value and a 12.4% increase in export volume. Western European car producers experienced a significant increase in production, with Germany leading in volume terms with an 18.7% increase in 2023. Automotive manufacturers are developing more fuel-efficient and environmentally friendly vehicles to meet these standards. Composite materials such as fiberglass, carbon fiber, and natural fiber-based composites are used to replace traditional materials in vehicle body parts, interiors, and structural components. The automotive industry is also incorporating composites into autonomous and connected vehicles to reduce weight while improving safety and performance.
Europe also benefits from a robust supply chain and cost-effective manufacturing, which makes it an attractive region for investment in composite production. Government initiatives supporting the transition to sustainable automotive technologies boost market growth. However, challenges such as high material costs and the need for specialized expertise in composite manufacturing may limit widespread adoption in the short term. Overall, the automotive composites market in the region is poised for steady expansion as automakers continue to prioritize advanced materials for performance and sustainability.
Europe Automotive Composites Market Country Insights
Based on region, the Europe automotive composites market is further segmented into the Germany, France, Italy, Spain, UK, Russia, Poland, Austria, Switzerland, Sweden, Czech Republic, Denmark, Belgium, Netherlands, Hungary, Finland, Portugal, Romania, Greece, Ukraine, and the rest of Europe. Germany held the largest share in 2024.
The automotive composites market in Eastern Europe is experiencing significant growth due to rising demand for lightweight, fuel-efficient, and eco-friendly vehicles. The increasing automotive production, particularly in countries such as Hungary, Poland, and the Czech Republic, is driving this demand. Automotive manufacturers are increasingly adopting composite materials such as fiberglass and carbon fiber to enhance performance, reduce weight, and improve fuel economy. According to the World Trend Plus's Association: Automobile Sector – Table RA.OICA.MVP: Motor Vehicle Production: by country, automotive production in Poland increased from 483,840.000 units in 2022 to 612,882.000 units in 2023.
Europe Automotive Composites Market Company Profiles
Gurit Holding AG, Hexcel Corp, Mitsubishi Chemical Group Corp, SGL Carbon SE, Solvay SA, Teijin Ltd, DuPont de Nemours In, Toray Industries Inc, Atlas Fibre, and Elaghmore Advisor LLP are among the key players operating in the market. These players adopt strategies such as expansion, product innovation, and mergers and acquisitions to stay competitive in the market and offer innovative products to their consumers.
Europe Automotive Composites Market Research Methodology:
The following methodology has been followed for the collection and analysis of data presented in this report:
- Secondary Research
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
- Company websites, annual reports, financial statements, broker analyses, and investor presentations
- Industry trade journals and other relevant publications
- Government documents, statistical databases, and market reports
- News articles, press releases, and webcasts specific to companies operating in the market
Note: All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.
- Primary Research
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate and analyze the data and gain valuable insights. These research interviews are designed to:
- Refine findings from secondary research
- Enhance the expertise and market understanding of the analysis team
- Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects
Primary research is conducted via email interactions and telephone interviews with industry experts across various markets, categories, segments, and sub-segments in different regions. Participants typically include:
- Industry stakeholders: Vice Presidents, business development managers, market intelligence managers, and national sales managers
- External experts: Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise
Key Sources Referred:
- The European Composites Industry Association
- The European Society for Composite Materials (ESCM)
- European Automobile Manufacturers Association (ACEA)
- European Association of Automotive Suppliers (CLEPA)
Europe Automotive Composites Market Strategic Insights
Europe Automotive CompositesMarket Report Highlights
| Report Attribute | Details |
| Market size in 2024 | US$ 2.21 Billion |
| Market Size by 2031 | US$ 4.85 Billion |
| CAGR (2025 - 2031) | 10.3 % |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Fiber Type
|
|
Regions and Countries Covered
|
|
| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
|
Europe Automotive Composites Market Country and Regional Insights
