Growing awareness of environment sustainability is projected to fuel the growth of the Europe carbon fiber composites market at a CAGR of 8.68% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Europe Carbon Fiber Composites Market”.

The carbon fiber composites market is estimated to register a CAGR of 8.68% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the Europe carbon fiber composites market— BASF SE, Toho Tenax Co., Ltd., SGL Group, Toray Industries, Inc., Solvay S.A., SANY Heavy Industry Co., Ltd, Gurit., Hexcel Corporation, Huntsman Corporation, Ashland Global Holdings Inc., Magna International Inc, Mitsubishi Chemical Carbon Fiber and Composites Inc., Fairmat, Prodrive Composites, Dieffenbacher GmbH, Hyundai Motor Company, and Wacker Neuson SE

Europe Carbon Fiber Composites Market Highlights

The Europe carbon fiber composites market accounted to register a CAGR of 8.68% during the forecast period and is estimated to reach USD 17,595.14 million by 2032.

Growing awareness of environmental sustainability is a pivotal driver shaping the dynamics of the carbon fiber composites market in Europe. As societies become increasingly cognizant of the environmental impact of industrial processes and product life cycles, there is a notable shift toward sustainable materials and practices. Carbon fiber composites, known for their lightweight nature and high strength-to-weight ratio, play a crucial role in addressing sustainability concerns across various industries.

One aspect of this awareness revolves around the need to reduce the carbon footprint of transportation. The automotive sector, in particular, is witnessing a paradigm shift as manufacturers strive to produce more fuel-efficient vehicles with lower emissions. Carbon fiber composites are instrumental in achieving this goal by replacing traditional materials like steel and aluminum, resulting in lighter vehicles that require less energy to operate. The use of carbon fiber composites in the automotive industry aligns with the broader societal push for eco-friendly transportation solutions.

Similarly, the aerospace industry is embracing carbon fiber composites to enhance fuel efficiency and reduce greenhouse gas emissions. Aircraft manufacturers are increasingly incorporating these materials into the design and construction of aircraft components, contributing to the overall sustainability of air travel. The lightweight properties of carbon fiber composites not only improve fuel efficiency but also extend the operational life of aircraft, further aligning with the environmental consciousness prevalent in the aviation sector.

The heightened awareness of environmental sustainability is also evident in the renewable energy sector, particularly in wind energy applications. Carbon fiber composites are used in the manufacturing of wind turbine blades, where their strength and durability contribute to the efficiency and longevity of the turbines. As the demand for clean and renewable energy sources rises, the role of carbon fiber composites in enhancing the performance and sustainability of wind energy infrastructure becomes increasingly critical.

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Segment Analysis

The Europe carbon fiber composites market has been segmented based on matrix material, product type, technology, end-use, and country.

In the matrix material segment, the market is categorized as Polymer (subdivided into Thermosetting and Thermoplastics), Carbon, Metal, and Others. Out of which the polymer matrix material segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. Polymer composites, specifically carbon fiber composites, are experiencing a notable upswing in demand across Europe, driven by various factors and concurrent trends that underscore their versatility and applicability in diverse industries. One of the primary drivers behind the increasing demand for polymer composites in Europe is the pervasive emphasis on lightweight construction. This trend, particularly prominent in industries such as aerospace and automotive, underscores the pivotal role of polymer composites in achieving enhanced fuel efficiency and overall performance. Their high strength-to-weight ratio positions these materials as indispensable for meeting stringent regulatory standards and industry requirements.

In the product type segment, the market is categorized as Long Fiber Thermoplastics, Thermoset Composites, Carbon Fiber Prepreg, Recycled Carbon Fiber, Carbon Fiber Resin, and Others. Out of which the Thermoset Composites segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. The relentless pursuit of lightweight construction, driven by the need for improved fuel efficiency and compliance with stringent environmental regulations, positions thermoset composites as a preferred choice. Furthermore, the aerospace and automotive industries, in particular, demand materials that offer exceptional mechanical properties, chemical resistance, and durability. Thermoset composites, with epoxy resins at the forefront, fulfill these requirements, propelling their adoption in critical components where performance is non-negotiable. The chemical resistance of epoxy resins further adds to their suitability for diverse environments, from harsh industrial settings to the demanding conditions of aerospace engineering.

In the technology segment, the market is categorized as Hand lay-up, Filament winding, Resin Transfer Molding (RTM), Autoclave, and Others. Out of which the Filament winding segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. The adaptability of Filament Winding to create cylindrical structures, such as pressure vessels and pipes, is a driving factor. Industries seeking components with specific geometries find Filament Winding indispensable. Its capability to produce intricate designs and cylindrical shapes with precision contributes to its widespread use in applications where form, function, and structural integrity are paramount. As a result, the demand for Filament Winding extends across diverse sectors, from aerospace to industrial manufacturing, solidifying its position as a technology of choice.

In the end-use segment, the market is categorized as Aerospace & Defense, Automotive, Wind Power, Marine, and Others. Out of which the Aerospace & defence segment held the maximum share in the base year market and is also expected to be holding a significant share in the forecasted period as well. The increasing global demand for air travel is expected to drive a significant surge in the demand for carbon fiber composites in the aviation industry. As air traffic continues to rise, airlines are seeking ways to enhance fuel efficiency and reduce overall aircraft weight to meet stringent environmental regulations. This demand for carbon fiber composites is particularly evident in the development of next-generation aircraft, such as the Boeing 787 Dreamliner and Airbus A350, both of which extensively utilize these advanced materials to optimize performance.

Country Analysis

By Country, the carbon fiber composites market is segmented into Germany, France, UK, Spain, Italy, and Rest of Europe. The market in Germany is expected to increase significantly over the projection period due to the country's emphasis on technological innovation, manufacturing excellence, and sustainability. The aerospace industry in Germany is playing a significant role in driving the carbon fiber composite market in the country. The Germany Country Commercial Guide highlights the aerospace sector's commitment to climate-neutral flying and its efforts to contribute to overarching societal goals, particularly achieving climate neutrality by 2050. The emphasis on reducing CO2 emissions, developing sustainable aviation fuels, and improving the environmental record of aircraft aligns with the growing demand for carbon fiber composites, known for their lightweight and high-strength properties that contribute to fuel efficiency and reduced environmental impact.

Furthermore, the Germany government's policy objectives, as outlined in the "2020 Technology Strategy of the German Aerospace Industry" and the "Climate-neutral Aviation" paper, emphasize the importance of the aerospace sector for Germany's technological and economic advancement. The commitment to climate-neutral aviation presents a significant market for carbon fiber composites, which are essential for building lightweight and fuel-efficient aircraft structures.

Key Findings of the Study

• The Europe carbon fiber composites market is expected to reach USD 17,595.14 million by 2032, at a CAGR of 8.68% during the forecast period.


• Germany accounted for the fastest-growing country level market.


• Based on End-use, the aerospace & defence segment was attributed to holding the largest market in 2022.


• BASF SE, Toho Tenax Co., Ltd., SGL Group , Toray Industries, Inc., Solvay S.A., SANY Heavy Industry Co., Ltd, Gurit., Hexcel Corporation, Huntsman Corporation , Ashland Global Holdings Inc., Magna International Inc, Mitsubishi Chemical Carbon Fiber and Composites Inc. , Fairmat, Prodrive Composites, Dieffenbacher GmbH, Hyundai Motor Company, and Wacker Neuson SE are the key market players.