Europe Carbon Fiber Composites Market Research Report Information By Matrix Material (Polymer, Carbon, Metal, Others) By Product Type (Long Fiber Thermoplastics, Thermoset Composites, Carbon Fiber Prepreg, Recycled Carbon Fiber, Carbon Fiber Resin, Others) By Technology (Hand lay-up, Filament winding, Resin Transfer Molding (RTM), Autoclave, Others) By End-Use (Aerospace & Defense, Automotive, Wind Power, Marine, Others) and By Countries (Germany, France, UK, Spain, Italy, Rest of Europe)- Forecast to 2032

Europe Carbon Fiber Composites Market Overview

Europe Carbon Fiber Composites Market Size was valued at USD 8,317.85 million in 2023. The carbon fiber composites industry is projected to grow to USD 17,595.14 million by 2032, exhibiting a compound annual growth rate (CAGR) of 8.68% during the forecast period (2023 - 2032). During the forecast period, the growing need for strong, lightweight materials in a variety of sectors, including wind energy, automotive, and aerospace, is one important driver. Owing to their exceptional strength and low weight, carbon fibre composites are indispensable in applications where environmental sustainability and fuel economy are top concerns. In order to reduce overall weight and improve fuel efficiency, carbon fibre composites have become increasingly popular in the aerospace industry. Carbon fibre composites are also becoming more widely used in the automotive industry due to strict regulations designed to lower carbon emissions and promote sustainability. Automakers are using these materials increasingly in their designs to achieve lightweight structures without sacrificing performance or safety as they work to meet emission regulations. With wind turbine blades being a major application, the renewable energy sector has also emerged as a significant contributor to the demand for carbon fibre composites.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Carbon Fiber Composites Market Trends

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  Increasing Demand from Automotive and Aerospace Industries

  
  

The aerospace and automotive sectors are the main drivers of the rising demand for carbon fibre composites in the European market. The automotive industry has seen a paradigm shift in recent years towards the incorporation of lightweight materials to improve overall vehicle performance and fuel efficiency. Because of their remarkable strength-to-weight ratio, carbon fiber composites are now the material of choice for automakers looking to lighten their vehicles without sacrificing structural integrity. This trend is especially noteworthy in Europe, where manufacturers are being compelled to look into novel materials due to stringent emission standards and an increasing focus on environmentally friendly transportation options.

Moreover, carbon fibre composites are becoming increasingly important in the automotive industry due to the growing demand for electric vehicles (EVs). As the automotive industry moves towards electrification, manufacturers are stepping up their efforts to increase electric vehicle (EV) driving range. Electric vehicle range can be increased by manufacturers by utilising the lightweight characteristics of carbon fibre composites to counterbalance the weight of bulky batteries. This is especially important in the European market, where consumer preferences and regulatory actions aiming at reducing dependence on conventional internal combustion engines are driving a growing acceptance and adoption of electric mobility.

Rising Use of Carbon Fiber Composites in Wind Energy Applications

The combination of strength, stiffness, and light weight of carbon fiber composites makes them perfect for producing turbine components, which is why the material has become more and more popular in the wind energy industry. Turbine blades are the main application for carbon fibre composites in wind energy applications. The material's impressive strength-to-weight ratio is the main factor driving this adoption. Composites made of carbon fibre offer the required structural integrity at a comparatively low total weight for the blades. Lighter blades improve overall efficiency and lessen mechanical loads on the turbine structure, which is especially beneficial in the design and operation of wind turbines.

Furthermore, longer and more aerodynamically efficient wind turbine blades can be built because of the use of carbon fibre composites in their construction. Longer blades generate more electricity because they can capture more wind energy. The improved energy output and increased economic viability of wind turbine technology are attributed to the carbon fibre composite blades' improved aerodynamic performance.

Advancements in Manufacturing Technologies Boosting Market Expansion

Over the past few years, the industry has witnessed a notable evolution in the processes involved in the production of carbon fiber composites. These advancements have played a crucial role in enhancing the overall efficiency, quality, and cost-effectiveness of manufacturing, thereby driving the market forward.

One key aspect of the technological progress is the development of more efficient and scalable production methods for carbon fiber itself. Traditional methods involved time-consuming and resource-intensive processes, but recent innovations have led to the emergence of novel techniques that significantly reduce production time and energy consumption. Improved precursor materials, optimized spinning processes, and enhanced stabilization and carbonization methods have collectively contributed to the streamlining of carbon fiber manufacturing.

Additionally, innovations in resin systems and curing processes have complemented the advancements in carbon fiber production. The development of high-performance resins that offer superior strength, durability, and resistance to environmental factors has expanded the application areas of carbon fiber composites. These advancements not only improve the mechanical properties of the final composite but also contribute to the overall sustainability of the end product.

Europe Carbon Fiber Composites Market Segment Insights

Europe Carbon Fiber Composites by Matrix Material Insights

The Europe Carbon Fiber Composites Market segmentation, based on matrix material has been segmented as Polymer, Carbon, Metal, and Others. In 2022, the polymer segment drove the carbon fiber composites Market by holding a substantial market share of 69.3% with a market value of USD 5,275.38 million. It is projected to register a CAGR of 8.76% during the projected timeframe. Within the polymer composite landscape, thermosetting polymers dominated the market with a market value of USD 3,597.41 million in 2022. The thermosetting polymers including epoxy and phenolic resins, play a critical role. Epoxy resins, renowned for their exceptional properties, are extensively employed in high-performance applications, notably in the aerospace and automotive sectors.  

Europe Carbon Fiber Composites by Product Type Insights

The Europe Carbon Fiber Composites Market segmentation, based on product type has been segmented as Long Fiber Thermoplastics, Thermoset Composites, Carbon Fiber Prepreg, Recycled Carbon Fiber, Carbon Fiber Resin, and Others. In 2022, the Thermoset Composites segment drove the carbon fiber composites market by holding a substantial market share of 56.4% with a market value of USD 4,359.86 million. It is projected to register a CAGR of 8.02% during the projected timeframe. Thermoset composites stand as a cornerstone in the Europe carbon fiber composites market, playing a pivotal role in transforming industries through their exceptional properties and versatile applications. This segment, encompassing resins like epoxy and phenolic, is characterized by its irreversible curing process, resulting in a solid, rigid structure with enhanced strength and durability. Additionally, their high strength-to-weight ratio makes them indispensable in sectors where lightweight yet robust materials are paramount, such as in aerospace and automotive applications.

Europe Carbon Fiber Composites by Technology Insights

The Europe Carbon Fiber Composites Market segmentation, based on technology has been segmented as Hand lay-up, Filament winding, Resin Transfer Molding (RTM), Autoclave, and others. In 2022, the Filament winding segment drove the carbon fiber composites market by holding a substantial market share of 26.9% with a market value of USD 2,077.95 million. It is projected to register a CAGR of 9.24% during the projected timeframe. The escalating emphasis on lightweight construction, spurred by the imperative for fuel efficiency and reduced environmental impact. Filament winding, renowned for its ability to produce components with exceptional strength-to-weight ratios, is uniquely positioned to meet the stringent requirements of industries such as aerospace and automotive. The demand for lightweight yet robust components propels the adoption of Filament Winding, making it a critical technology in addressing the evolving needs of these industries.

Europe Carbon Fiber Composites by End-Use Insights

The Europe Carbon Fiber Composites Market segmentation, based on end-use has been segmented as Aerospace & Defense, Automotive, Wind Power, Marine and others. In 2022, the Aerospace & Defence segment drove the carbon fiber composites market by holding a substantial market share of 56.3% with a market value of USD 4,350.62 million. It is projected to register a CAGR of 9.09% during the projected timeframe. Carbon fiber's exceptional properties, including high strength, low weight, and remarkable durability, position it as a critical material for manufacturing components that are fundamental to the aviation and defense industries. In the aerospace domain, carbon fiber composites are extensively utilized in the construction of various aircraft structures. This includes components such as wings, fuselage sections, and interior elements, where the primary goal is to achieve a balance between structural integrity and weight reduction thus, driving their demand in the aerospace & defence sector.

Europe Carbon Fiber Composites Country Insights

Based on Country, the Europe Carbon Fiber Composites market is segmented into Germany, France, UK, Spain, Italy, and Rest of Europe. Germany in Europe Carbon Fiber Composites market emerged as the leading and the fastest-growing segment with a CAGR of 8.08%. The segment is projected to reach a value of USD 4,606.41 million by the end of the forecast period. Germany, being a powerhouse in the automotive and aerospace industries, has increasingly adopted carbon fiber composites to enhance the performance, efficiency, and lightweight characteristics of vehicles and aircraft. Additionally, one of the key drivers for the growth of the carbon fiber composites market in Germany is the automotive sector's shift towards lightweight materials to improve fuel efficiency and reduce emissions. With stringent regulations on carbon emissions and a growing awareness of environmental concerns, automotive manufacturers in Germany are increasingly incorporating carbon fiber composites in the production of vehicles. This trend is not limited to high-end or luxury cars; it extends to mainstream models as well. As a result, the demand for carbon fiber composites has experienced a considerable growth.

Europe Carbon Fiber Composites Key Market Players & Competitive Insights

The Europe carbon fiber composites market is characterized by the presence of many global, regional, and local vendors. The market is highly competitive, with all the players competing to gain maximum market share. Intense competition, frequent changes in government policies, and regulations are key factors that impact market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. The vendors must provide cost-efficient and high-quality carbon fiber composites to sustain their presence in an intensely competitive market environment.

Toray Industries, Inc., Toho Tenax Co., Ltd., Solvay S.A., Magna International Inc, and Mitsubishi Chemical Carbon Fiber and Composites Inc. are the leading players in the carbon fiber composites market, holding a substantial market share. These companies have a strong global presence, well-established distribution networks, and a broad product portfolio catering to various applications. They also invest heavily in research and development, constantly innovating to improve the performance and reliability of their carbon fiber composites. Some of the key players operating in the Europe Carbon Fiber Composites Market are 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  

BASF SE: BASF SE is a chemical company. It carries out the production, marketing and sales of chemicals, plastics, crop protection products, and performance products. Its product line comprises solvents, adhesives, surfactant, fuel additives, electronic chemicals, pigments, paints, food additives, fungicides, and herbicides. The company serves a wide range of industries including construction, furniture and wood, agriculture, electronics and electrical, paints and coatings, automotive, home care, nutrition, chemicals and others. At the core of BASF's operations is a diverse and extensive product portfolio that spans a wide array of industries. The company is a leading producer of chemicals used in the manufacturing of plastics, coatings, performance chemicals, and agricultural solutions. BASF's innovations touch nearly every aspect of daily life, from the materials that make up our homes and vehicles to the agricultural solutions that support global food production.

Toho Tenax Co., Ltd.: Toho Tenax Co., Ltd. is the core company of the Teijin Group's carbon fibers business. The Toho Tenax Group is a leading carbon fiber manufacturer worldwide with an annual production capacity of 13,500 tons in Japan, Germany and the USA. It manufactures carbon fibers, synthetic fibers, and chemical products. The Company mainly produces flame and heat resistant carbon fibers for aerospace field. Toho Tenax also designs and constructs environmental facilities. Toho Tenax Co., Ltd. is a prominent Japanese company that stands at the forefront of the global carbon fiber industry. It catering to a diverse range of industries such as aerospace, automotive, wind energy, sports and leisure, and industrial applications.

Key Companies in the Europe Carbon Fiber Composites Market includes.

• BASF SE


• Toho Tenax Co., Ltd.


• SGL Group


• Toray Industries, Inc.


• Solvay S.A.


• SANY Heavy Industry Co., Ltd


• 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


• Wacker Neuson SE

Europe Carbon Fiber Composites Industry Developments

March 2023: SGL Carbon expanded material portfolio with new 50k carbon fiber at JEC World 2023. The new SIGRAFIL® C T50-4.9/235 carbon fiber will match the high strength requirements for common pressure vessel designs and exhibits a high elongation capacity. It also enables further applications in market segments that require high strength and elongation.

July 2023: Huntsman Corporation, V-Carbon collaborated to recycle the entire carbon-fiber composite, including the fiber and resin or its chemical components.

May 2022: Solvay expanded its SolvaLite® portfolio with prepregs for automotive body panels and invests in Xencor™ LFT production facilities.

Europe Carbon Fiber Composites Market Segmentation

Europe Carbon Fiber Composites Matrix Material Outlook

• Polymer
  
  
  
  • Thermosetting
  
  
  • Thermoplastics
  
  
  
  


• Carbon


• Metal


• Others

Europe Carbon Fiber Composites Product Type Outlook

• Long Fiber Thermoplastics


• Thermoset Composites


• Carbon Fiber Prepreg


• Recycled Carbon Fiber


• Carbon Fiber Resin


• Others

Europe Carbon Fiber Composites Technology Outlook

• Hand lay-up


• Filament winding


• Resin Transfer Molding (RTM)


• Autoclave


• Others

Europe Carbon Fiber Composites End-Use Outlook

• Aerospace & Defense


• Automotive
  
  
  
  • Passenger Cars
  
  
  • Light Commercial Vehicles
  
  
  • Heavy Commercial Vehicle
  
  
  • Others
  
  
  
  


• Wind Power


• Marine


• Others

Europe Carbon Fiber Composites Country Outlook

• Germany


• France


• UK


• Spain


• Italy


• Rest of Europe