After a long phase of continuous growth, the composites market has seen strong fluctuations since 2018. This industry sector is particularly dependent on macroeconomic influences. In 2023, the overall market for composites in Europe fell by 8%.
The mood in the industry is currently rather negative on the markets in Germany and Europe. The main drivers are the persistently high energy and raw material prices. Added to this are problems in logistics chains and a subdued consumer climate. A slowdown in global trade and uncertainties in the political arena are fueling the negative sentiment. Despite rising sales figures, the automotive industry, the most important application area for composites, has not yet returned to its pre-2020 volume. The construction industry, the second key application area, is currently in crisis. These factors have already caused the European composites production volume to fall significantly in recent years. There has now been another decline in Europe for 2023.
AVK's current market report for fiber-reinforced plastics / composites 2023 sheds light on developments, trends and challenges and looks to the future. You can download the entire Market Report 2023 free of charge here.
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20 March 2024
