Macroeconomic developments weigh on composites market
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 current mood on the markets in Germany and Europe is rather negative within the industry. The main drivers are the persistently high energy and raw material prices. Added to this are problems in logistics chains and a cautious consumer climate. A slowdown in global trade and uncertainties in the political arena are fueling the negative sentiment. Despite rising registration figures, the automotive industry, the most important application area for composites, has not yet returned to its pre-2020 volume.