Europe Multiaxial Woven Fabrics Market Forecast to 2028 -Regional Analysis

The Europe multiaxial woven fabrics market is expected to grow from US$ 384.37 million in 2022 to US$ 501.96 million by 2028. It is estimated to grow at a CAGR of 4.5% from 2022 to 2028.

Growing Focus of Manufacturers on Adopting Different Strategies Drive Europe Multiaxial Woven Fabrics Market

Players operating in the Europe multiaxial woven fabrics market are adopting various growth strategies such as investments in research & development activities, partnerships, and mergers & acquisitions. In March 2021, Hexcel joined the UK-based project called “Aerospace and Automotive Supply Chain Enabled Development (ASCEND)”. The project will focus on developing high-rate manufacturing and processing technologies to accelerate the development of new, lightweight advanced composite materials. Hexcel will contribute to ASCEND project framework by developing a new HexPly fast-cure prepreg system. The project will use both HiTape advanced unidirectional dry carbon reinforcements and HiMax multiaxial non-crimp fabrics reinforcements. In July 2019, SAERTEX acquired 100 % shares in the Bavarian company TK Industries GmbH. With the acquisition, SAERTEX has expanded its range of heavy-tow carbon fiber multiaxial fabrics. The acquisition of TK Industries will also provide SAERTEX with additional capacity in the short term to meet the ever-increasing demand for carbon fiber fabrics and thus enable improved delivery times for their customers. Moreover, in April 2022, SAERTEX and Terre de Lin collaborated to develop multiaxial fabrics with flax fibers for the marine and sports & leisure segments. The adoption of different growth strategies helps players stand out as strong competitors in the market. Therefore, the growing focus of manufacturers on adopting different strategies is expected to boost the Europe multiaxial woven fabrics market growth during the forecast period.

Europe Multiaxial Woven Fabrics Market Overview

Based on country, the Europe multiaxial woven fabrics market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. Increasing use of composites in various end-use industries and strong growth of the automotive, marine, aerospace, and construction industries in Europe fuel regional market growth. In the UK, wind power is one of the largest sources of electricity generation. The government of the country has included wind power in The Ten Point Plan for a Green Industrial Revolution and in Energy White Paper. The wind energy industry is playing an important role in Germany's energy transition. According to the Germany Trade & Invest, Germany is Europe’s leading wind energy market, with more than 63 GW of total capacity. The growing wind energy sector in Europe drives the demand for multiaxial fabrics. Various European countries develop and manufacture civil and military aircraft, helicopters, drones, aero-engines, and other systems and equipment. In Europe, Germany is one of the largest aerospace & defense market. Composite materials are highly used in aerospace applications due to their exceptional strength- and stiffness-to-density ratios and superior physical properties. Further, Germany is one of the strongest countries in the world for high-tech automotive products. The automotive sector is the backbone industry in Germany. European countries such as the UK, France, Germany, and Italy also have a strong automotive industry. Strong presence of the automotive industry in Europe is propelling the demand for multiaxial fabrics.

Europe Multiaxial Woven Fabrics Market Revenue and Forecast to 2028 (US$ Million)

Europe Multiaxial Woven Fabrics Market Segmentation

The Europe multiaxial woven fabrics market is segmented into type, application, and country.

Based on type, the Europe multiaxial woven fabrics market is segmented into bidirectional fabrics, triaxial fabrics, quadraxial fabrics, and others. In 2022, the quadraxial fabrics segment registered a largest share in the Europe multiaxial woven fabrics market.

Based on application, the Europe multiaxial woven fabrics market is segmented into construction, industrial, military, consumer goods, and others. In 2022, the industrial segment registered a largest share in the Europe multiaxial woven fabrics market.

Based on country, the Europe multiaxial woven fabrics market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. In 2022, Germany segment registered a largest share in the Europe multiaxial woven fabrics market.

3D Weaving SaRL; Albany International Corp; Biteam AB; Cristex Composite Materials Ltd; Halarit Composites GmbH; Parabeam BV; SGL Carbon SE; and Sigmatex (UK) Ltd are the leading companies operating in the Europe multiaxial woven fabrics market.