Publication Date: January 1, 2023
Indian Composite Materials Market
The Indian composite materials market was estimated at US$ 1.6 Billion in 2023 and is likely to grow at a healthy CAGR of >6% over the next five years to reach US$ 2.8 billion in 2030. This equates to the consumption of 1000+ kilotons of Composite Materials in 2030.
Highlights from the briefing:
The Indian composite materials market was estimated at US$ 1.6 Billion in 2023 and is likely to grow at a healthy CAGR of >6% over the next five years to reach US$ 2.8 billion in 2030. This equates to the consumption of 1000+ kilotons of Composite Materials in 2030.
Both glass fiber suppliers, Owens Corning and Goa Glass Fibre Limited produced nearly 110 and 22 kilotons of glass fibers in 2023.
The composite consumption per capita was merely 0.37 kg in India in 2021, which is quite lower before the matured markets, such as the USA with 11.5 kg and Germany with 7.7 kg
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Aniket Roy
Associate Manager, Stratview Research
Aniket is a senior business intelligence and marketing professional at Stratview Research, specializing in global industrial markets, particularly mobility, plastics and advanced materials. Throughout his career, he has contributed industry-focused analyses, whitepapers, and thought leadership content for several international platforms, with a strong focus on supply chain dynamics, innovations, manufacturing, and market trends.
