Lucintel Forecasts The European Automotive Composites Market To Reach $4 Billion By 2031

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According to a market report by Lucintel, the future of the European automotive composites market looks promising with opportunities in the exterior, interior, power train system/electrical components, underbody system, and electrical and electronics applications. The European automotive composites market is expected to reach an estimated $4 billion by 2031 from $3 billion in 2024, at a CAGR of 4% from 2024 to 2031. The major drivers for this market are increasing automotive production and growing demand for lightweight materials to achieve higher fuel efficiency and reduce greenhouse gas emissions.
A more than 150-page report to understand trends, opportunity and forecast in European automotive composites market to 2031 by material type (SMC, BMC, GMT, SFT, LFT, and CFT), resin type (PP composites, PBT composites, vinyl ester composites, PA composites, epoxy composites, polyester composites, phenolic composites, and other resin types), fiber type (glass composites, carbon composites, and natural fiber composites), resin group (thermoplastic composites and thermoset composites), application (exterior, interior, power ...
... train system/electrical components, underbody system, electrical and electronics, and other applications), and country (Germany, Spain, France, UK, and Italy).
Lucintel forecasts that CFT will remain the largest segment by value and volume due to their high strength-to-weight ratio, enabling lightweight vehicles that improve fuel efficiency and meet stringent emission regulations. Additionally, their recyclability and faster processing make them ideal for large-scale automotive.
Interior will remain the largest segment by value and volume due to increasingly use lightweight composites to enhance fuel efficiency and meet stringent emission standards, while also improving design flexibility and aesthetic appeal in vehicle cabins.
Download sample by clicking on European automotive composites market.
BASF, Magna International, Lanxess, Lorenz Kunststofftechnik GmbH, Ranger Italian, Teijin Automotive Technologies, Hanwha, Mitsubishi Chemical Group are the major suppliers in the European automotive composites market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com. To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972-636-5056
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