According to a market report by Lucintel, the future of the global 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 global European automotive composites market is expected to reach an estimated $4.0 billion by 2031 from $3.2 billion in 2024, at a CAGR of 3.0% from 2025 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.
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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.
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Roy Almaguer
Lucintel
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Email: [email protected]
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