Market Size of Europe Automotive Thermoplastic Polymer Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Automotive Thermoplastic Polymer Composite Market Analysis
The Europe automotive thermoplastic polymer composite market is expected to grow at a CAGR of over 6% during the forecasted period (2020 - 2025)
- There has been rising interest by OEMs toward thermoplastic polymer composites since the past few years, owing to several advantages of these materials, including high volume processability, recyclability, superior damage tolerance, and fracture toughness, and ability to produce complex shapes.
- These composites found applications in different modes of transportation, from cars to underground trains. Among thermoplastic composites, long-fiber thermoplastics (LFTs) are being extensively used in the transportation sector.
- The automotive industry was impacted due to high fuel prices. Furthermore, in the transportation industry, vehicle OEMs and suppliers use thermoplastic composites to reduce vehicle mass. Due to stringent emission regulations, automotive manufacturers are focusing on reducing the weight of vehicle, as it helps in saving a noticeable amount of carbon dioxide emissions. A 10-kilogram weight reduction is estimated to reduce 1 gram of carbon dioxide per kilometer.
Europe Automotive Thermoplastic Polymer Composite Industry Segmentation
The Europe automotive thermoplastic polymer composite market report covers the latest trends and technological developments in the market, demand by production type, application, geography and share of major players across the European region.
| Production Type | |
| Hand Layup | |
| Resin Transfer Molding | |
| Vaccum Infusion Processing | |
| Compression Molding | |
| Injection Molding |
| Application Type | |
| Structural Assembly | |
| Power Train Components | |
| Interior | |
| Exterior | |
| Others |
| Geography | |
| Germay | |
| France | |
| United Kingdom | |
| Italy | |
| Rest of Europe |
Europe Automotive Thermoplastic Polymer Composites Market Size Summary
The European automotive thermoplastic polymer composite market is experiencing significant growth, driven by the increasing interest from original equipment manufacturers (OEMs) in the advantages these materials offer. Thermoplastic polymer composites are favored for their high volume processability, recyclability, and superior damage tolerance, making them ideal for applications in various transportation modes, including automobiles and trains. The automotive sector, in particular, is leveraging these materials to reduce vehicle weight, which is crucial for meeting stringent emission regulations and improving fuel efficiency. Long-fiber thermoplastics (LFTs) and glass mat thermoplastic (GMT) composites are prominently used, with GMTs offering a balance between cost and mechanical performance, predominantly in propylene-based composites. These materials are gaining traction due to their design flexibility, low density, and high productivity, with notable applications in luxury vehicle components, such as the front-end module of the Mercedes-Benz S-class series.
The market is characterized by a collaborative approach among key industry players, focusing on innovation and standardization to enhance the production of cost-effective continuous fiber-reinforced thermoplastic composites (CFRTP). Companies like DuPont and SABIC are at the forefront, participating in consortia to advance lightweight, recyclable vehicle panels, which are set to replace traditional metal and thermoset materials. The European Union's stringent emission targets are propelling the demand for these advanced materials, as reducing vehicle weight directly impacts fuel consumption and carbon emissions. The market is consolidated, with major players such as BASF, BMW, and Cytec Industries actively engaging in strategic acquisitions to strengthen their market position. The ongoing transformation in the automotive industry, coupled with the push for sustainable and efficient vehicle designs, is expected to drive the continued growth of thermoplastic polymer composites in Europe.
Europe Automotive Thermoplastic Polymer Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters 5 Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Production Type
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2.1.1 Hand Layup
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2.1.2 Resin Transfer Molding
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2.1.3 Vaccum Infusion Processing
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2.1.4 Compression Molding
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2.1.5 Injection Molding
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2.2 Application Type
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2.2.1 Structural Assembly
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2.2.2 Power Train Components
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2.2.3 Interior
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2.2.4 Exterior
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2.2.5 Others
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2.3 Geography
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2.3.1 Germay
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2.3.2 France
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2.3.3 United Kingdom
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2.3.4 Italy
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2.3.5 Rest of Europe
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Europe Automotive Thermoplastic Polymer Composites Market Size FAQs
What is the current Europe Automotive Thermoplastic Polymer Composites Market size?
The Europe Automotive Thermoplastic Polymer Composites Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
What years does this Europe Automotive Thermoplastic Polymer Composites Market cover?
The report covers the Europe Automotive Thermoplastic Polymer Composites Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Automotive Thermoplastic Polymer Composites Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
