Indian reinforced plastics industry to recover

In 2012, the demand for raw materials used in the fabrication of fibre-reinforced plastic (FRP) products in India has declined dramatically followed by significant decrease in production in prominent segments such as construction, pipe and wind energy. Demand for reinforced thermoset plastics fell by double digits; however, reinforced thermoplastic plastics were able to post a slow growth in 2012. Indian reinforced plastics industry, after an extremely challenging 2012, forecast to rebound in several segments in 2013. The demand for reinforced plastic materials (fibres, resins, etc.) in India is forecast to cross 1 billion pounds by 2018, according to Composite Insights’ latest report titled “Executive Report on Indian Reinforced Plastics Industry.”