Indian carbon fibre composites market to reach $53 million by 2018

Once the domain of aerospace and space applications in India, carbon fibre composites are increasingly being used in a host of new industrial applications where material cost is secondary to performance, high strength and reduced weight considerations.

Indian carbon fibre composites market is poised for dramatic growth and expected to reach USD 53 million by 2018.

The industrial market is expected to witness very strong growth, followed by the aerospace segment. Consumer goods market is expected to post slow growth between 2013 and 2018.

Composite Insights, a leading global custom and syndicated research firm, analyzed Indian market for carbon fibres and carbon fibre composites and presents its findings in “Growth Opportunities in Indian Carbon Fibre Composites Market: 2013-2018.”

Composite Insights’ research indicates future growth of the carbon fibre composites market in India will be driven by various industrial applications. In order to meet the surging demand from various customers for highly valued intermediate material including prepregs, many companies have increased their focus on Indian market recently.

For example, Toho Tenax Co. Ltd., announced that it will develop and market carbon fibre fabrics for India's composite industry in collaboration with Hindoostan Technical Fabrics Limited. Kemrock Industries and Exports Ltd., one of the leading manufacturers of Reinforced polymer (FRP) composites, commissioned India’s first carbon fibre manufacturing facility in Vadodara, Gujarat.

The intelligence report, which provides trend scenarios for 2007, 2011 and 2012 and forecast statistics for 2013 and 2018; details market drivers and challenges; and highlights the major carbon fibre customers.