CII engaged PricewaterhouseCoopers for the India’s first comprehensive ‘Study on Growth Approach for Composites in India’. The study focuses on four application sectors viz. Aerospace & Defence, Building & Construction, Railways and Marine. CII actively engaged with various stakeholders of Composites such as Raw Material Manufactures (Glass, Carbon and Aramid), Resin Manufacturers, Composite Convertors, End-Users, among others for inputs on the study.
The study has assessed that Composites in India is expected to grow to USD 530-1000 Mn by 2022. Aerospace, Defence and Transportation would contribute ~ 57% of the market. It has also recommended strategies to drive concrete regulatory policies to drive adoption, strengthen the ecosystem of composites, encourage global carbon manufacture to set manufacturing in India and engage to formulate specifications of end-use products. The study would be released during India Composites 2017, which is scheduled on 18 August 2017 at Hotel Shangri La, New Delhi.