The European composites industry was unable to halt the downward trend in 2024. European production volumes fell significantly for the third year in a row.
The current development is largely due to structural weaknesses in key application areas as well as economic and industrial challenges in the core European regions. Germany, which remains the largest economy within the EU, is particularly affected. According to an initial estimate by EUROSTAT, GDP rose by 0.7% in the eurozone and by 0.8% in the EU. In the same period, it is estimated to have fallen by 0.2% in Germany. This negative trend was triggered by general economic weaknesses, particularly in the manufacturing and industrial sectors. The automotive industry and the construction and infrastructure sector in particular, as the most important application industries for the composites industry in Europe, are currently showing strong negative trends.
The picture for the composites industry is similar. The decline in absolute market volume in Europe was coupled with a growing global market. This drove the gap between the European and global composites industry ever wider. Europe’s market share has been declining for many years.
The market for LFT, GMT and CFRTP
The market for GMT declined by 4.3 % to a total volume of 22 kt in 2024. The decline was therefore slightly higher than that of the overall market for thermoplastic materials, which shrank by 3.9 %. LFT (long fibre reinforced thermoplastics) will lose 2.2 % overall in 2024 and reach a production volume of 88,000 tonnes. CFRTP (continuous fibre-reinforced thermoplastics) remain a niche product. There were no significant changes here, which should be seen as a positive sign against the backdrop of a generally declining market. The market segment reaches a volume of 10 kt.
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