According to the recent study the European automotive composites market is projected to reach an estimated $4.7 billion by 2025 from $4.2 billion in 2019, at a CAGR of 1.7% from 2020 to 2025. Growth in this market is primarily driven by increasing automotive production and growing demand for lightweight materials to achieve higher fuel efficiency and reduce greenhouse gas emissions.
Browse 92 figures / charts and 31 tables in this 137 -page report to understand trends, opportunities and forecast in European automotive composites market by material type (SMC, BMC, GMT, SFT, LFT, CFT, Phenolic, PU, Natural Fiber, Carbon thermoset composites), by resin type(PP, PBT, Vinyl Ester, PA, Epoxy, Polyester, Phenolic and others), by fiber type (glass fiber, carbon fiber and natural fiber composites),by resin group (Thermoplastic and Thermoset Composites), and by application (interior, exterior, power train system, under body system, electrical and electronics and others).
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“Short fiber thermoplastic (SFT) market is expected to remain the largest segment during the forecast period.”
Based on material type, the European automotive composites market is segmented into SMC, BMC, GMT, SFT, LFT, CFT, Phenolic, PU, Natural Fiber, Carbon thermoset composites. Lucintel forecasts that the short fiber thermoplastic (SFT) market is expected to remain the largest segment due to ease of processing and better capability of making parts in complex geometry.
“Within the European automotive composites market, the PA based composites segment is expected to remain the largest resin type.”
Based on resin type, the foundry & logic segment is expected to witness the largest application due to increasing demand for high temperature thermoplastics in under the hood applications.
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Major players of European automotive composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Plastic omnium, Polytec, BASF, DSM, Polynt, Lanxess and others are among the major European automotive composites providers.
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 click on this link https://www.lucintel.com/european-automotive-composites-market.aspx or help[email protected]
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