According to the recent study the Indian composites market is projected to reach an estimated $3 billion by 2030 from $2 billion in 2023 at a CAGR of 7% from 2023 to 2030. Growth in this market is primarily driven by increasing demand for lightweight materials in the aerospace & defense and automotive industries; corrosion and chemical-resistant materials’ demand in the construction and pipe & tank industries; demand for materials with electrical resistance and high flame retardancy in the electrical and electronics industry.
Browse 107 figures/charts
and 68 tables in this 205-page report to understand trends, opportunities and
forecast in Indian composites market by nd use (pipe & tank,
transportation, wind energy, aerospace and defense, construction, marine, and
electrical and electronics, and others), fiber type (glass fiber based
composites, carbon fiber based composites, and aramid fiber based composites),
and resin type (UPR based composites, epoxy based composites, vinyl Ester based
composites, and others).
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market.
Lucintel forecasts that
wind energy will remain the largest end use segment over the forecast period,
and it is also expected to witness the highest growth over the forecast period
due to the increasing installation of wind turbines and requirement of
lightweight and non-corrosive materials in wind energy.
Glass fiber based
composites will remain the largest fiber type segment due to the increasing use
of glass fiber based composites, for its better mechanical properties, in
construction, transportation, and electrical & electronics end use
industries. Carbon fiber based composites segment is expected to witness the
highest growth segment over the forecast period.
Suzlon, Kineco, Mahindra
CEI Automotive, Tata AutoComp Systems, and Patil Rail Infrastructure are the
major supplier in the Indian composites market.
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 write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1 972.636.5056
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