The Europe Advanced Composites Market is expected to grow from $15,999.44 million in 2022 to $28,306.07 million by 2028, at a CAGR of 10.0%. The market is driven by the demand for lightweight materials in the aerospace and defense industry. Advanced composites play a crucial role in enhancing the safety and performance of modern aircraft, offering significant weight reduction and fuel efficiency.
The market is segmented by fiber type, matrix type, and end-use industry. The top companies in the market are Avient Corp, Ensinger GmbH, Johns Manville Corp, Mitsubishi Chemical Corp, Owens Corning, SGL Carbon SE, Solvay SA, Tecnaro GmbH, Teijin Ltd, and Toray Industries Inc.
The growth of the market is attributed to the expansion of wind energy projects, increasing automotive production, and rising construction activities across the region. The market is also driven by the demand for sustainable renewable energy, with advanced composites being preferred for wind turbine construction.
The report provides strategic insights into the market, offering data-driven analysis of industry trends, key players, and regional dynamics. The insights help businesses identify untapped market segments and develop unique value propositions.