Press release
Lucintel Forecasts Indian Composites Market to Reach $3 billion by 2031
Key data points: The market size in 2024 = $2.2 billion, growth forecast = 5% annually for the next 7 years. Scroll below to get more insights. This market report covers trends, opportunities, and forecasts in Indian composites market to 2031
According to the recent study the Indian composites market is projected to reach an estimated $3 billion by 2031 from $2.2 billion in 2024, at a CAGR of 5% from 2024 to 2031. 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).
Download sample by clicking on Indian composites 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 To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
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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