LONDON, Dec. 14, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the Indian composites market looks attractive with opportunities in the electrical and electronic, wind energy, pipe and tank, transportation, and construction industries. The Indian composites market is expected to reach an estimated $2.0 billion by 2021. The Indian composites market is forecast to grow at a CAGR of 14.1% by value from 2016 to 2021.The major driver for market growth is the rise in demand for electrical and electronic, wind energy, and pipe and tank applications due to increase in the number of government projects like smart cities development, eco-friendly energy generation, fresh water transportation, sewage treatment system, rehabilitation of water and sewage pipe lines.
In this market, pipe and tank, transportation, wind energy, aerospace and defense, construction, marine and electrical and electronics are major end use applications of composites. Lucintel predicts that the demand for electrical and electronics in the Indian composites market is expected to experience the highest growth in the forecast period, supported by increasing number of government projects in the infrastructure development which will drives the installation of various electric composites products like FRP aerial fuse board, FRP 'V' type arms and straight cross arms in the rec design, and enclosures. On the basis of its comprehensive research, Lucintel forecasts that pipe and tank, transportation, and wind energy expected to show above average growth during the forecast period.
Within the Indian composites market, pipe and tank application is expected to remain the largest market by value and volume consumption. Increasing establishment of water supply system for industrial and household application, renovation of sewage system, and water harvesting to provide potable water is expected to spur growth for this segment over the forecast period.
By manufacturing technology, hand lay-up process is the largest manufacturing process used to manufacture composites parts, whereas by polymer type, thermoset resin covers the largest market share in the Indian composites market.
For business expansion, this report suggests new product development to low-cost solutions and diversification in new applications. Emerging trends, which have a direct impact on the dynamics of the industry, include emergence of new application areas and capacity expansion/partnership by the competitors like Momentive Speciality Chemicals' joint venture with Kanoria Chemicals, Satyen Polymer's with Scott Bader, Toho Tenax's with Hindoostan Technical Fabrics Limited, 3B's with Braj Binani Group, and PD FiberGlass's with Arvind Advance Materials to tap future potential composites market in India. Goa Glass fiber, Owens Corning, Reichhold, Satyen polymers, Atul Pvt. Ltd., Aditya Birla, Hexion, and Huntsman, are among the major suppliers of fiber and resin.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the Indian composites market by end-use application, manufacturing technology, material and polymer types and has come up with a comprehensive research report, "Growth Opportunities in the Indian Composites Market 2016-2021: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the Indian composites market by end-use application, manufacturing technology, material and polymer types as follows:
By end use application (Volume (Million Pounds) and $ Million shipment from 2010 to 2021):
Pipe and Tank Transportation Wind Energy Aerospace and Defense Construction Marine Electrical and Electronics Others
By manufacturing technology (Volume (Million Pounds) shipment of 2015):
Hand Lay-up Filament Winding Pultrusion RTM/VRTM Compression Molding Thermoplastic Molding Others
By material type (Volume (Million Pounds) from 2010 to 2021):
By polymer type (Volume (Million Pounds) shipment of 2015):
This report answers following 10 key questions:
Q.1. What are some of the potential, high-growth opportunities in the Indian composites market by end use application, manufacturing technology, polymer type and material type?
Q.2. Which product segments will grow at a faster pace and why?
Q.3. What are the key factors affecting market dynamics? What are the drivers and challenges in the market?
Q.4. What are the business risks and competitive threats in this market?
Q.5. What are emerging trends in this market and reasons behind them?
Q.6. What are some changing demands of customers in the market?
Q.7. What are the new developments in the market and which companies are leading these developments?
Q.8. Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.9. What are some of the competitive products in this area and how great a threat do they pose for loss of market share through product substitution?
Q.10. What M & A activities has transpired in the last 5 years in this market and what is its impact on the industry?
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today's stringent economy, you need every advantage that you can find.
To make business, investment, and strategic decisions, you need timely, useful information. This market report fulfills this core need and is an indispensable reference guide for multinational materials suppliers, product manufacturers, investors, executives, distributors, and many more that operate in this market.
Some of the features of "Growth Opportunities in the Indian Composites Market: 2016-2021 Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Growth opportunities in the Indian composites market size estimation in terms of value and volume (M lbs.) shipment.Trend and forecast analysis: Indian composites market trend (2010-2015) and forecast (2016-2021) by segment.Segmentation analysis: Indian composites market size by various end use applications such as pipe and tanks, transportation, wind energy, aerospace and defense, construction, marine, electrical and electronics and others in terms of value and volume shipment.Growth opportunities: Analysis on growth opportunities in different applications and regions. Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of composites in the Indian composites market suppliers.Emerging applications: Emerging applications of composites in various markets. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
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