Europe Composites Market Dynamics, Growth Prospect and Consumption Analysis till 2025

Posted on 2020-11-23 by researchinsights in Chemicals // 0 Comments

Felton, Calif., USA, Nov. 23, 2020 — /EPR Network/ —

The Europe Composites Market size is projected to reach USD 27.5 billion by 2025 and anticipated to grow at a CAGR of 7.5% during the forecast period 2019 to 2025, according to a new report by Million Insights. Rising demand for lightweight composites in automotive industry is a major factor to drive the regional market growth. In addition, growth of Europe aerospace & defense industry has triggered the demand for composites in recent years and this trend is anticipated to continue over the forecast period. The presence of a large number of aerospace giants including Ariane Group, Dassault Aviation, and Airbus has augmented the product demand in this region.

Due to growing fuel price, the demand for fuel-efficient vehicles has increased. Additionally, rising environmental concern and strict government regulations for the emission of harmful gases is enforcing automotive manufacturers to develop lightweight vehicles, thereby expected to fuel the market growth. Vehicle weight plays an important role to affect vehicle emission of harmful gasses and fuel efficiency. Thus, favorable lightweight properties of composites replaced the usage of steel and aluminum in the automotive industry, which is projected to drive the regional market growth. In Europe, strict government regulations are enforcing OEMs to manufacture low gas emission vehicles, thereby expected to rise in the application of composites in the manufacturing of vehicles.

Access Europe Composites Market Report with TOC @ https://www.millioninsights.com/industry-reports/europe-composites-market

In 2018, glass fiber accounted for the largest Europe composites market share of 60.3% in terms of revenue. The growth of wind energy and automotive industries is expected to surge the market growth in this region. Carbon fiber is projected to register 10.0% CAGR in terms of volume over the forecast period due to rising application of composite material in the construction industry.

Thermoplastic resin is estimated to grow at the fastest CAGR of more than 9.0% in terms volume, from 2019 to 2025. Rising demand for high performance and cost-effective resins in the renewable energy industry is projected to propel the market growth in Europe.

The major manufacturers included in the market are Teijin Limited, Owens Corning, Toray Industries, and Hexcel Corporation. To gain market share in this competitive market, companies are adopting several marketing strategies such as mergers & acquisitions, partnerships, collaborations, and capacity expansions. In addition, key market players have their patented manufacturing technologies and used at all value chain stages.

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

Request a Sample Copy of Europe Composites Market Report @ https://www.millioninsights.com/industry-reports/europe-composites-market/request-sample

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

Germany
France
U.K.
Spain
Italy
Rest of Europe

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