Irving, Texas (PRWEB) October 31, 2012
India’s composites industry is one of the nation’s lucrative sectors attracting significant foreign direct investment. The market has huge potential to innovate and grow. It has grown significantly over the last five years and is expected to continue a strong growth momentum to reach approximately US $1.8 billion by 2017 with a CAGR of 14.9% over the next five years.
Lucintel, a leading global management consulting and market research firm, has analyzed the Indian composites market and presents its findings in “Opportunities in the India Composites Market: 2012-2017 Trend, Forecast and Competitive Analysis.”
Lucintel’s market research report research indicates that the growth of India’s manufacturing sector, including the automobile, telecommunication, chemical, and electrical industries, is a major growth driver for the Indian composites market. Other factors that are anticipated to benefit the market include focus on non-conventional energy generation, especially wind energy; greater usage in the oil and gas segment; rise in metals prices; ability to effectively compete with steel and aluminum; growing urban infrastructure need; and higher per capita and generic consumption of composites products. The industry is expected to face certain growth challenges such as the lack of product standardization, deficiency in skilled labor, automated production, and low-end raw materials.
Pipe and tank is the dominant application area in the Indian composites market. In recent years, India has had increased oil and gas activities particularly in terms of exploration, production, and transportation. The pipe and tank segment is expected to witness huge demand from the water supply and sewage treatment areas due to increasing urbanization.
Development in the composites industry depends on the growth prospects within individual application sectors, which is linked to overall economic development in India. The standing of the country’s economy has a crucial bearing on the different sectors that are targets for composites growth, including manufacturing and the various industrial segments.
The report, which provides trend scenarios and forecast statistics for five years; details industry drivers and challenges; surveys opportunities for composites in India, compares properties and prices; and highlights major composites suppliers, also describes composites properties, manufacturing processes, and more.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at helpdesk(at)lucintel(dot)com. Lucintel provides cutting-edge decision support services Target Screening/ Merger & Acquisition that facilitate critical decisions with greater speed, insight, and cost efficiency.
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