A recent report reveals that India's per capita consumption of composites is very low at 0.55 kg, falling far behind developed markets such as the US (11.5 kg) and Germany (7.7 kg). Nevertheless, the domestic composite materials industry is growing at an impressive rate, with an expected average growth rate of 7.8 percent per year, rising from the current market size of $1.8 billion in 2024 to $2.8 billion in 2030.
FR or composite materials, also known as fiber-reinforced plastics (FRP), are critically important materials since they help promote the circular economy, considering their properties, which can be achieved only by using two or more materials. The sectors such as electric vehicles (EVs), transportation, renewable energy, construction, consumer goods, and defense show the demanding nature of the industry. Also, smart cities, hydrocarbon, freshwater repression, sewage pipeline rehabilitation, and sewage treatment systems by the government are considered permanent growth drivers.
In light of India's low composite consumption rate, the FRP Institute and industry players' support plan to organize the International Conference and Exhibition on Reinforced Plastics ICERP 2025 from January 21-23 in Mumbai. This event addresses the need for new technologies, trends and innovative technology applications.
Speaking about the event, FRP Institute Chairman Shekhar Sardessai stated, "ICERP 2025 will offer an opportunity for professionals to explore new technologies, latest industry trends, and emerging applications of composites across important industries of India's growth story."
This initiative is expected to pave the way for increasing composite adoption, contributing significantly to India’s industrial and economic growth.
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