+
Indian composites industry targets a double-digit growth through 2021
PORTS & SHIPPING

Indian composites industry targets a double-digit growth through 2021

The Indian composites industry, also known as fibre reinforced plastics industry, is set to mark a double-digit growth by 2021, says a Report ‘Indian Composites Industry Outlook: 2018-2023’ launched by the FRP Institute, an apex trade body of the Indian composites industry.

The FRP Institute launched the White Paper in Mumbai at a press conference while announcing the ‘International Conference and Exhibition on Reinforced Plastics, 2019’ (ICERP 2019). The ICERP 2019, which will bring together all stakeholders of Indian Composites Industry on one platform, is being conducted from January 10-12, 2019, at the Bombay Exhibition Centre, in Mumbai.

According to the report, the Indian composites market is expected to reach an estimated $2.5 billion at a CAGR of 14.1 per cent by the year 2021. The report states that the future of Indian composites sector looked attractive in the wake of increasing consumption opportunities for composites materials in various industries. Considering the end-use applications, industries such as transportation, wind energy, electrical and electronics, pipes and tanks, aerospace, defense, construction, and marine will be major drivers for the demand. The report further stated that the government’s ambitious ‘Make in India’ initiative and projects like smart cities development, renewable energy generation, inland waterways transportation, sewage treatment systems, new pipelines for water and sewage and rehabilitation of existing pipelines, etc, have created momentum for the composites industry’s growth.

While launching the report and announcing the ‘International Conference and Exhibition on Reinforced Plastics, 2019’, Pradip Thakkar, Chairman, ICERP 2019, said, “The Indian composites industry is on the cusp of a revolution, as we see bright opportunities in the domestic and international market. This conference will help all of us deliberate on the opportunities available in the Indian market and also address the challenges that need to be overcome in order to achieve a higher growth rate.”

Witnessing the highest growth since 2015, the Indian composites market is estimated at 3.6 lakh metric tonne in 2018. As per the report, there were six major industries where composites were consumed mostly in 2018 and these segments represented 82.1 per cent of the total volume. For instance, the mass transportation sector was the largest user of composites components with a share of 20.5 per cent followed by building and construction (14.2 per cent), electrical and electronics (13.8 per cent), renewable energy (12.3 per cent), infrastructure (11.4 per cent) and chemical and corrosion (9.9 per cent).

 

The ‘aerospace’ industry, a sunrise sector, is expected to add volume to the composites industry due to the government’s impetus on manufacturing 30 per cent of components locally. These prospects will not only help about odd 3,000 large, mid-sized and small manufacturers expand their production base, but also encourage them to cater to the global export market. The report has also addressed certain challenges such as the need to eliminate a persistent lack of awareness of composites in the Indian industrial world,absence of solid and concrete regulatory framework, the need to promote standardization of end-use products and establishing a solid infrastructure for recycling of composites waste.

 

Narayana Reddy, Chairman, FRP Institute, said, “We are happy to launch this report, as it will act as a mouthpiece of the industry. In this conference, the industry members will discuss innovations and ways to enhance the quality of materials and products and create awareness about composites materials.”

Kumarpal Rawji, Vice Chairman, FRP Institute; Dr Chaitanya Shah, Conference Co-Chairman of ICERP 2019; Dr SC Lakkad, Immediate past Chairman, FRP Institute; S Ramachandran, Director, Jushi India Fibreglass; Dhananjay Tapasvi, Managing Director, Owens Corning; Dr A Selvam, Executive Secretary, FRP Institute were present on the occasion.

 

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

The Indian composites industry, also known as fibre reinforced plastics industry, is set to mark a double-digit growth by 2021, says a Report ‘Indian Composites Industry Outlook: 2018-2023’ launched by the FRP Institute, an apex trade body of the Indian composites industry. The FRP Institute launched the White Paper in Mumbai at a press conference while announcing the ‘International Conference and Exhibition on Reinforced Plastics, 2019’ (ICERP 2019). The ICERP 2019, which will bring together all stakeholders of Indian Composites Industry on one platform, is being conducted from January 10-12, 2019, at the Bombay Exhibition Centre, in Mumbai. According to the report, the Indian composites market is expected to reach an estimated $2.5 billion at a CAGR of 14.1 per cent by the year 2021. The report states that the future of Indian composites sector looked attractive in the wake of increasing consumption opportunities for composites materials in various industries. Considering the end-use applications, industries such as transportation, wind energy, electrical and electronics, pipes and tanks, aerospace, defense, construction, and marine will be major drivers for the demand. The report further stated that the government’s ambitious ‘Make in India’ initiative and projects like smart cities development, renewable energy generation, inland waterways transportation, sewage treatment systems, new pipelines for water and sewage and rehabilitation of existing pipelines, etc, have created momentum for the composites industry’s growth. While launching the report and announcing the ‘International Conference and Exhibition on Reinforced Plastics, 2019’, Pradip Thakkar, Chairman, ICERP 2019, said, “The Indian composites industry is on the cusp of a revolution, as we see bright opportunities in the domestic and international market. This conference will help all of us deliberate on the opportunities available in the Indian market and also address the challenges that need to be overcome in order to achieve a higher growth rate.” Witnessing the highest growth since 2015, the Indian composites market is estimated at 3.6 lakh metric tonne in 2018. As per the report, there were six major industries where composites were consumed mostly in 2018 and these segments represented 82.1 per cent of the total volume. For instance, the mass transportation sector was the largest user of composites components with a share of 20.5 per cent followed by building and construction (14.2 per cent), electrical and electronics (13.8 per cent), renewable energy (12.3 per cent), infrastructure (11.4 per cent) and chemical and corrosion (9.9 per cent).   The ‘aerospace’ industry, a sunrise sector, is expected to add volume to the composites industry due to the government’s impetus on manufacturing 30 per cent of components locally. These prospects will not only help about odd 3,000 large, mid-sized and small manufacturers expand their production base, but also encourage them to cater to the global export market. The report has also addressed certain challenges such as the need to eliminate a persistent lack of awareness of composites in the Indian industrial world,absence of solid and concrete regulatory framework, the need to promote standardization of end-use products and establishing a solid infrastructure for recycling of composites waste.   Narayana Reddy, Chairman, FRP Institute, said, “We are happy to launch this report, as it will act as a mouthpiece of the industry. In this conference, the industry members will discuss innovations and ways to enhance the quality of materials and products and create awareness about composites materials.” Kumarpal Rawji, Vice Chairman, FRP Institute; Dr Chaitanya Shah, Conference Co-Chairman of ICERP 2019; Dr SC Lakkad, Immediate past Chairman, FRP Institute; S Ramachandran, Director, Jushi India Fibreglass; Dhananjay Tapasvi, Managing Director, Owens Corning; Dr A Selvam, Executive Secretary, FRP Institute were present on the occasion.  

Next Story
Infrastructure Urban

Delivering metals in 24 hours with AI

India’s metal supply chain has long struggled with delays, fragmentation and lack of transparency, forcing purchase teams to chase vendors and juggle uncertain stock. Enlight Metals is tackling these inefficiencies with an AI-powered aggregation platform, multilingual voice-enabled procurement and strategically located dark stores that enable 24-hour delivery – transforming how OEMs, EPCs and infrastructure players source their metals. In a conversation with CW, Dhananjay Goel, Director, and Vedant Goel, Director, shares how the company is reshaping procurement. What problem..

Next Story
Infrastructure Urban

Silvin's CPVC Additive Gets NSF® Certification for Safety

Silvin Additives, a prominent manufacturer of PVC and CPVC additives, has secured the NSF® Guideline 533 certification for its CPVC Super1Pack formulation. This certification affirms the additive’s compliance with stringent international health and safety standards for products intended for drinking water applications.Awarded by NSF, a globally respected public health and safety authority based in Michigan, United States, the certification is granted only after rigorous product testing and inspection. NSF® Guideline 533 specifically assesses the safety of chemical ingredients used in produ..

Next Story
Infrastructure Urban

Mitsubishi Halts Offshore Wind Projects in Japan

Mitsubishi Corporation (MC) has announced its decision to withdraw from three major offshore wind projects off the coast of Japan due to a significant shift in global business conditions. The projects were being developed through a consortium led by its subsidiary, Mitsubishi Corporation Offshore Wind Ltd., and were located off the shores of Noshiro City, Mitane Town, and Oga City in Akita Prefecture; Yurihonjo City in Akita Prefecture; and Choshi City in Chiba Prefecture.The company stated that following a review initiated in February 2025, it concluded the projects were no longer viable. The..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?