The European market for fiber-reinforced plastics/composites 2021 – market developments, trends, challenges and outlook
After a long period of growth from 2013 to 2018, the coronavirus pandemic, which has been ongoing since February 2020, and numerous other negative effects have had a severe impact not only on the economy as a whole, but also on the industry and the composites market in particular.
The European composites production volume fell by more than 15% in the years 2018-2020. This trend was significantly reversed in 2021. With growth of 18.3%, the market has almost caught up with pre-crisis levels. The increase was therefore significantly higher than the overall economic development in the EU, which the European Commission estimates at 5.3% for 2021. Industrial production, which the Kiel Institute for the World Economy predicts will grow by 4% in the EU in 2021, was also significantly lower than growth in the composites industry.