Market Size of India Automotive Glass Fiber Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Automotive Glass Fiber Composites Market Analysis
The India automotive glass fiber composites market is expected to register a CAGR of over 4.5%, during the forecast period, 2020 - 2025.
The major growth drivers of this market are the rise in automotive production and the increasing demand for durable and lightweight materials because of stringent government regulations to reduce greenhouse gas emissions.
The future of the global automotive glass fiber composites market looks bright with opportunities in different automobile applications, such as interiors, exteriors, structural assembly, powertrain and engine components, electrical and electronics, and others. The market for glass fiber composites in automobile structures is expected to be the fastest-growing segment, due to the wide variety of applications.
Strategic alliances between car manufacturers, glass fiber, and resin suppliers are the trends that have a direct impact on the dynamics of the automotive composites industry. Within the intermediates type, short fiber thermoplastic (SFT), long fiber thermoplastic (LFT), and continuous fiber thermoplastic (CFT) are the major ones that are used in automotive applications. SFT is expected to be the largest market by value, mainly driven by applications in powertrain and engine components applications, which feature small complex-shaped parts.
India Automotive Glass Fiber Composites Industry Segmentation
The India automotive glass fiber composites market report covers the current and upcoming trends with recent technological development in various areas of the market by intermediate type, application type. The country-level analysis and market share of significant Glass fiber manufacturing companies across India will be provided in the report.
| Intermediate Type | |
| Short Fiber Thermoplastic (SFT) | |
| Long Fiber Thermoplastic (LFT) | |
| Continuous Fiber Thermoplastic (CFT) | |
| Other Intermediate Types |
| Application Type | |
| Interior | |
| Exterior | |
| Structural Assembly | |
| Power-train Components | |
| Other Application Types |
India Automotive Glass Fiber Composites Market Size Summary
The India automotive glass fiber composites market is poised for significant growth, driven by the increasing production of vehicles and the rising demand for lightweight and durable materials. This demand is largely influenced by stringent government regulations aimed at reducing greenhouse gas emissions. The market is expected to see substantial opportunities across various automobile applications, including interiors, exteriors, structural assembly, and powertrain components. The segment focusing on glass fiber composites in automobile structures is anticipated to be the fastest-growing, owing to its diverse applications. Strategic partnerships between car manufacturers and suppliers of glass fiber and resin are shaping the industry's dynamics, with short fiber thermoplastic (SFT) being a major component due to its application in complex-shaped parts.
India is emerging as a rapidly growing market for automotive glass fiber composites, supported by the presence of major car manufacturers like Maruti Suzuki, Mahindra & Mahindra, and Tata Motors. These companies are increasingly adopting glass fiber composites to enhance vehicle performance and meet regulatory requirements for reduced emissions. The use of these advanced materials is crucial for improving fuel economy and vehicle efficiency by reducing weight. The market is characterized by fragmentation, with key players such as Solvay Group, 3B (Braj Binani Group), Owens Corning, Veplas Group, and SAERTEX GmbH & Co.KG holding significant shares. These companies are engaging in joint ventures and launching new products to maintain a competitive edge in the evolving market landscape.
India Automotive Glass Fiber Composites Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porters Five Force Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Intermediate Type
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2.1.1 Short Fiber Thermoplastic (SFT)
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2.1.2 Long Fiber Thermoplastic (LFT)
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2.1.3 Continuous Fiber Thermoplastic (CFT)
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2.1.4 Other Intermediate Types
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2.2 Application Type
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2.2.1 Interior
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2.2.2 Exterior
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2.2.3 Structural Assembly
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2.2.4 Power-train Components
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2.2.5 Other Application Types
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India Automotive Glass Fiber Composites Market Size FAQs
What is the current India Automotive Glass Fiber Composites Market size?
The India Automotive Glass Fiber Composites Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in India Automotive Glass Fiber Composites Market?
Solvay Group , 3B (Braj Binani Group) , Owens Corning , Veplas Group and SAERTEX GmbH & Co.KG are the major companies operating in the India Automotive Glass Fiber Composites Market.
