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 substantially followed by decreases in the production of such sectors as construction, pipes  and  fittings  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. However,  forecast hints to rebound in several segments in 2013 that reinforced plastic materials (fibres, resins, etc.) in India is projected to hit 1 billion pounds by 2018, according to Composite Insights’ latest report titled “Executive Report on Indian Reinforced Plastics Industry.” The report also addresses forecasts for 2013 and 2018.  Analysis also includes market size estimates for the five major market segments - transportation, construction, wind energy, pipe and tank and electrical &electronics and 5 major resins – polyester, epoxy, polyamide, polypropylene, polybutylene terephthalate.Nike