Wednesday, January 20, 2010

Indian Composites Market

India has strong macroeconomics fundamentals with good GDP growth and high foreign direct reserve (>$100 million). The Indian economy is set to grow between 7 per cent and 7.5 per cent in the current fiscal while it was 6.7% for last fiscal year 2008, and the services and industrial services are projected to grow at 8.7 per cent and 8.6 per cent respectively. Indian economy is in buoyant mood with consistent growth track. The stock market index is at high mood and the per capita income in India stood at US$ 687.03 in 2007-08 and has risen by over one-third from US$ 536.79 in 2005-06 to US$ 773.54 in 2008- 09. India has home of over a billion people and it is predicted that India will be the world's most populous country by the year 2020. India is among Asia’s best performing economy with a 350 million strong middle income group offers a big market that any global player find difficult to ignore. These all are good growth indicators but composites related investment was fairly limited and contributed to close to 0.5%, significantly lower than our competitor country China.
The Indian composites industry is about 50 years old, started in early 1960 and first production of polyester resin is started in 1973 which initiated hand lay up industry still hand lay up manufacturing process is dominating in India composites industry.At present, India's share of composites production is only 2 % of the total world production. China's share, on the other hand, is about 15 % and it is estimated that in coming days China may overtake Japan and become the Asian leader in composites production. The India composites industry is approx $1.1 billion market till date and growth is rocketing with great pace @ 25% CAGR. If anyone interested for full strory on India Composites Market then you can contact me at, without any hesitation. Now i close this discussion, till then good bye. See you soon with vibor.