India Composites Market Size & Outlook, 2022-2030
India composites market, 2018-2030 (US$M)
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India composites market highlights
- The India composites market generated a revenue of USD 8,809.8 million in 2022 and is expected to reach USD 17,810.6 million by 2030.
- The India market is expected to grow at a CAGR of 9.2% from 2023 to 2030.
- In terms of segment, glass fiber others was the largest revenue generating product in 2022.
- Carbon Fiber is the most lucrative product segment registering the fastest growth during the forecast period.
Composites market data book summary
| Market revenue in 2022 | USD 8,809.8 million |
| Market revenue in 2030 | USD 17,810.6 million |
| Growth rate | 9.2% (CAGR from 2022 to 2030) |
| Largest segment | Glass fiber others |
| Fastest growing segment | Carbon Fiber |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbon Fiber, Glass Fiber Others |
| Key market players worldwide | Teijin Ltd, Toray Industries Inc, Owens-Corning Inc, PPG Industries Inc, Huntsman Corp, SGL Group, Hexcel Corp, DuPont de Nemours Inc, Compagnie de Saint-Gobain SA, Weyerhaeuser Co, Cytec Industries, Jushi, KINECO, Momentive, Veplas Group |
Other key industry trends
- In terms of revenue, India accounted for 9.4% of the global composites market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China composites market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 17,810.6 million by 2030.
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Composites Market Scope
Composites Market Companies
| Name | Profile | # Employees | HQ | Website |
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India composites market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to composites market will help companies and investors design strategic landscapes.
Glass fiber others was the largest segment with a revenue share of 65.36% in 2022. Horizon Databook has segmented the India composites market based on carbon fiber, glass fiber others covering the revenue growth of each sub-segment from 2018 to 2030.
The growing consumer disposable income has resulted in increasing demand of electronics such as laptops and mobile phones. Also, the increasing number of companies setting up their production units in India is expected to contribute to further market growth for composites.
In India, the demand for composites is expected to be driven by the increasing focus on automotive manufacturing, defense aircraft, equipment manufacturing, and marine industries. Expansion plans of various automotive manufacturers in India such as Clean Motion, ISUZU MOTORS INDIA, Nissan Motor Co., Ltd. to manufacture hybrid automotive vehicles are expected to drive the demand for composites in the coming years.
In addition, some offshore electrical & electronics projects are also picking pace in India, which is expected to propel the demand for composites. The Ministry of New and Renewable Energy (MNRE) aims to increase the installed capacity of electrical & electronics power generation from 32 GW in 2017 to 60 GW by 2022.
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Our clientele includes a mix of composites market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the India composites market , including forecasts for subscribers. This country databook contains high-level insights into India composites market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India composites market size, by product, 2018-2030 (US$M)
India Composites Market Outlook Share, 2022 & 2030 (US$M)
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