According to a new market report published by
Lucintel, the future of the Indian composites market looks attractive with opportunities
in the electrical and electronic, wind energy, pipe and tank, transportation,
and construction industries. The Indian
composites market is expected to reach an estimated $2.0 billion by 2021. The Indian
composites market is forecast to grow at a CAGR of 14.1% by value from 2016 to
2021.The major driver for market growth is the rise in demand for electrical
and electronic, wind energy, and pipe and tank applications due to increase in the
number of government projects like smart cities development, eco-friendly
energy generation, fresh water transportation, sewage treatment system,
rehabilitation of water and sewage pipe lines.
In this
market, pipe
and tank, transportation, wind energy, aerospace and defense, construction, marine
and electrical and electronics are major
end use applications of composites. Lucintel predicts that the demand for electrical
and electronics in the Indian composites market is expected to experience the
highest growth in the forecast period, supported by increasing number of
government projects in the infrastructure development which will drives the installation
of various electric composites products like FRP aerial fuse board, FRP ‘V’
type arms and straight cross arms in the rec design, and enclosures. On the
basis of its comprehensive research, Lucintel forecasts that pipe and tank, transportation,
and wind energy expected to
show above average growth during the forecast period.
Within the Indian composites market, pipe and
tank application is expected to remain the largest market by value and volume
consumption. Increasing establishment of water supply system for
industrial and household application, renovation of sewage system, and water
harvesting to provide potable water is
expected to spur growth for this segment over the forecast period.
By manufacturing technology, hand lay-up
process is the largest manufacturing process used to manufacture composites
parts, whereas
by polymer type, thermoset resin covers the largest market share in the Indian
composites market.
For business
expansion, this report suggests new product development to low-cost solutions
and diversification in new applications. Emerging trends, which have
a direct impact on the dynamics of the industry, include emergence of new
application areas and capacity expansion/partnership by the competitors like Momentive
Speciality Chemicals’ joint venture with Kanoria Chemicals, Satyen Polymer’s
with Scott Bader, Toho Tenax’s with Hindoostan Technical Fabrics Limited, 3B’s
with Braj Binani Group, and PD FiberGlass’s with Arvind Advance Materials to
tap future potential composites market in India. Goa Glass fiber, Owens
Corning, Reichhold, Satyen polymers, Atul Pvt. Ltd., Aditya Birla, Hexion, and
Huntsman, are among the major suppliers of fiber and resin.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed growth opportunities in the
Indian composites market by end-use application, manufacturing technology,
material and polymer types and has come up with a comprehensive research
report, “Growth
Opportunities in the Indian Composites Market 2016-2021: Trends, Forecast, and
Opportunity Analysis.” The
Lucintel report serves as a spring board for growth strategy as it provides a
comprehensive data and analysis on trends, key drivers, and directions. The
study includes a forecast for the growth opportunities in the Indian composites
market by end-use application, manufacturing technology, material and polymer
types as follows:
By end use application (Volume (Million Pounds)
and $ Million shipment from 2010 to 2021):
·
Pipe and Tank
·
Transportation
·
Wind Energy
·
Aerospace and Defense
·
Construction
·
Marine
·
Electrical and Electronics
·
Others
By
manufacturing technology (Volume (Million Pounds) shipment of 2015):
·
Hand Lay-up
·
Filament Winding
·
Pultrusion
·
RTM/VRTM
·
Compression Molding
·
Thermoplastic Molding
·
Others
By material type (Volume (Million Pounds) from 2010 to 2021):
·
Fiberglass
·
Resin
By polymer type (Volume (Million Pounds)
shipment of 2015):
·
Thermoplastic
·
Thermoset
This
184-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or
helpdesk@lucintel.com. Lucintel offerings include Advanced
Materials Reports, Composite
Materials Market Report, Strategic
Growth Consulting, Commercial Due Diligence
Report and Business
Strategy Consulting.
About Lucintel
Lucintel, the premier global management
consulting and market research firm, creates winning strategies for growth. It
offers market assessments, competitive analysis, opportunity analysis, growth
consulting, M&A, and due diligence services to executives and key
decision-makers in a variety of industries. For further information, visit
www.lucintel.com.
This report answers following 10 key
questions:
Q.
1. What are some of the potential, high-growth opportunities in the Indian
composites market by end use application, manufacturing technology, polymer
type and material type?
Q.
2.Which product segments will grow at a faster pace and why?
Q.3.What
are the key factors affecting market dynamics? What are the drivers and
challenges in the market?
Q.4.What
are the business risks and competitive threats in this market?
Q.5.What
are emerging trends in this market and reasons behind them?
Q.6.What
are some changing demands of customers in the market?
Q.7.What
are the new developments in the market and which companies are leading these
developments?
Q.8.Who
are the major players in this market? What strategic initiatives are being implemented
by key players for business growth?
Q.9.
What are some of the competitive products in this area and how great a threat
do they pose for loss of market share through product substitution?
Q. 10.
What M & A activities has transpired in the last 5 years in this market and
what is its impact on the industry?
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