Lucintel Forecasts Indian Composites Market to Reach $1.9 Billion by 2027

According to the recent study the Indian composites market is projected to reach an estimated $1.9 billion by 2027 from $0.7 billion in 2021, at a CAGR of 18.1% from 2021 to 2027. Growth in this market is primarily driven by  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.

Browse 47 figures / charts and 29 tables in this 116 -page report to understand trends, opportunities and forecast in Indian composites market by end use (pipe and tank, aerospace and defense, wind energy, electrical and electronics, construction, transportation, marine,  telecommunication and others), fiber type (glass fiber, carbon fiber, aramid fiber), and resin type (UPR, epoxy, vinyl ester and others).

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“Wind energy market is expected to remain the largest segment during the forecast period.”     

Based on end use, the Indian composites market is segmented into pipe and tank, aerospace and defense, wind energy, electrical and electronics, construction, transportation, marine, telecommunication, and others. Lucintel forecasts that the wind energy is expected to witness the largest segment over the forecast period and it is also expected to witness highest growth over the forecast period due to its various advantages like; long shelf life, less maintenance, resistance to corrosion, and high strength-to-weight ratio.

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Major players of Indian composites market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Suzlon, Kineco, Mahindra CEI Automotive, Tata AutoComp Systems, and Patil Rail Infrastructure are among the major Indian composites providers.

This unique 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 click on this link https://www.lucintel.com/indian-composites-market.aspx or helpdesk@lucintel.com.

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Contact:
Brandon Fitzgerald
Lucintel
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