Europe Composites Market Poised to Reach USD 27.5 billion By 2019 With A CAGR Of 7.5% Till 2025 : Radiant Insights,Inc

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Europe Composites Market Poised to Reach USD 27.5 billion By 2019 With A CAGR Of 7.5% Till 2025 : Radiant Insights,Inc

August 12
16:04 2019
Europe Composites Market Poised to Reach  USD 27.5 billion By 2019 With A CAGR Of 7.5% Till 2025 : Radiant Insights,Inc

“Radiant Insights,Inc”
Radiant Insights, Inc has announced the addition of the “Europe Composites Market 2025” report to their offering.

The Europe composites market size is anticipated to reach USD 27.5 billion by 2025, registering a 7.5% CAGR during the forecast period. Increasing demand for lightweight materials in the automotive industry is expected to drive product demand across the region. The growth of the aerospace and defense industry in Europe has triggered the demand for composites over the past few years and this trend is expected to continue over the forecast period. The presence of aerospace giants such as Airbus, Dassault Aviation, and Ariane Group in the region has propelled product demand.

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Rising fuel prices has generated the need for fuel-efficient vehicles. Stringent regulations and growing environmental concerns regarding pollution control have forced automotive manufacturers to enhance their technologies and develop vehicles resulting in reduced levels of pollution. One of the most important factors affecting fuel efficiency and vehicular pollution is the overall weight of the vehicle. Favorable properties of composites, including higher strength to weight ratio, have led to their widespread use in the automotive industry as a replacement for aluminum and steel, which is anticipated to boost the market over the forecast period. Stringent environment regulations, especially in Europe, are forcing OEMs to significantly reduce CO2 emissions from vehicles. They have also compelled automotive manufacturers to include composites in the production process, which is expected to propel product demand in the coming years.

Glass fiber was the largest product segment in the Europe market in 2018, with a revenue share of 60.3%. The growth of automotive and wind energy industries in Germany is expected to drive the regional market. Carbon fiber is likely to register a CAGR of 10.0% in terms of volume from 2019 to 2025 owing to its ascending requirement in the construction industry.

 

Thermoplastic resin is projected to emerge as the fastest-growing segment at a CAGR of 9.4%, in terms of volume, over the forecast period. Ascending demand for cost-effective and high-performance resins in the renewable energy industry is expected to drive the regional market.

Access Full Report With TOC Of Composites Market @ https://www.radiantinsights.com/research/europe-composites-market

Further key findings from the report suggest:

• The Europe composites market was worth USD 16.6 billion in 2018 and is projected to expand at a CAGR of 7.5% over the forecast period

• The thermosetting resin segment dominated Europe market in 2018 and is expected to register a CAGR of 7.3%, in terms of volume, from 2019 to 2025 owing to their widespread use in high temperature applications

• The resin transfer molding process segment was estimated at 164.1 kilo tons in 2018 and is expected to grow over the forecast period. RTM is the ideal process for obtaining high strength-to-weight ratio and mid-volume production ranging from 200 to 10,000 parts per year

• Wind energy is projected to emerge as the fastest-growing application segment in Europe over the forecast period

• The France market was valued at close to USD 3.0 billion and is expected to register a CAGR of 7.4% from 2019 to 2025. Product demand is expected to be propelled by latest advancements in manufacturing facilities in aerospace and automotive sectors

• Key players in the market include Teijin Limited, Owens Corning, Hexcel Corporation, Huntsman International LLC, DowDuPont, and Toray Industries

• In January 2019, Teijin Limited announced that it will supply Tenax TPUD, which is an intermediate advanced composite material for structural parts of Boeing commercial airplanes.

Browse reports of similar category available with Radiant Insights, Inc.:

About Radiant Insight

Radiant Insights is a market research and consulting company offering syndicated research studies, customized reports, and consulting services. Our market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. Using a patented and robust research methodology, we publish exhaustive research reports covering a host of industries such as Technology, Chemicals, Materials, and Energy. Radiant Insights has a strong base of analysts, consultants and domain experts, with global experience helping us deliver excellence in all research projects we undertake.

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Website: www.radiantinsights.com/research/europe-composites-market

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