Market Size of India Automotive Thermoplastic Polymer Composites Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Automotive Thermoplastic Polymer Composites Market Analysis
Indian Automotive Thermoplastic Polymer Composite Market is expected to register a CAGR of 7% during the forecast period.
There has been a rising interest in thermoplastic polymer composites since the past few years, owing to several advantages of these materials, such as high volume processability, recyclability, superior damage tolerance, fracture toughness, and ability to produce complex shapes.
These composites can be applied in different modes of transportation, from cars to underground trains. Among thermoplastic composites, long-fiber thermoplastics (LFTs) are being extensively used in the transportation sector.
The automotive industry was impacted due to high fuel prices. Furthermore, in the transportation industry, vehicle OEMs and suppliers use thermoplastic composites to reduce vehicle mass. Due to stringent emission regulations, automotive manufacturers are focusing on reducing the weight of the vehicle, as it helps in saving a noticeable amount of carbon dioxide emissions. A 10-kilogram weight reduction is estimated to reduce 1 gram of carbon dioxide per kilometer.
India Automotive Thermoplastic Polymer Composites Industry Segmentation
Indian Automotive Thermoplastic Polymer Composite Market covers the current and upcoming trends with recent technological development. The report will provide a detailed analysis of various areas of the market by product type and application. The market share of significant automotive Thermoplastic Polymer Composite companies across India will be provided in the report.
| Production Type | |
| Hand Layup | |
| Resin Transfer Molding | |
| Vacuum Infusion Processing | |
| Injection Molding | |
| Compression Molding |
| Application Type | |
| Structural Assembly | |
| Power Train Components | |
| Interior | |
| Exterior | |
| Others |
India Automotive Thermoplastic Polymer Composites Market Size Summary
The Indian Automotive Thermoplastic Polymer Composites Market is experiencing significant growth, driven by the increasing adoption of thermoplastic polymer composites in the automotive and transportation sectors. These materials are favored for their high volume processability, recyclability, and superior mechanical properties, making them ideal for reducing vehicle weight and improving fuel efficiency. The market is characterized by the extensive use of long-fiber thermoplastics (LFTs) and glass mat thermoplastic (GMT) composites, which offer design flexibility, low density, and easy recycling. The demand for these composites is further fueled by stringent emission regulations and the automotive industry's focus on minimizing carbon emissions. Innovations in material applications, such as those seen in Mercedes-Benz's use of GMT composites for their S-class series, highlight the potential for these materials to replace traditional structural components.
The Indian transportation industry, a major contributor to the country's GDP, is predominantly road-based, with significant government and private investments aimed at enhancing connectivity and infrastructure. The liberalization of foreign direct investment (FDI) norms is expected to increase competition and affordability in the market, particularly in the aviation sector. The automotive industry is undergoing a transformation, with a focus on sustainability and recyclability, driving the demand for continuous fiber-reinforced thermoplastic composites (CFRTP). The market is fragmented, with numerous startups and regional players like 3B-Fiberglass, BASF, Gurit, and Solvay engaging in strategic partnerships and joint ventures to innovate and expand their product offerings. The establishment of new production facilities, such as Renolit GOR S.p.A.'s plant in Pune, underscores the growing importance of the Asia Pacific region in the global composites market.
India Automotive Thermoplastic Polymer 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 Production Type
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2.1.1 Hand Layup
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2.1.2 Resin Transfer Molding
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2.1.3 Vacuum Infusion Processing
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2.1.4 Injection Molding
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2.1.5 Compression Molding
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2.2 Application Type
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2.2.1 Structural Assembly
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2.2.2 Power Train Components
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2.2.3 Interior
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2.2.4 Exterior
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2.2.5 Others
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India Automotive Thermoplastic Polymer Composites Market Size FAQs
What is the current India Automotive Thermoplastic Polymer Composites Market size?
The India Automotive Thermoplastic Polymer Composites Market is projected to register a CAGR of 7% during the forecast period (2024-2029)
Who are the key players in India Automotive Thermoplastic Polymer Composites Market?
3B-Fiberglass, BASF, Gurit, Solvay and Arkema Group are the major companies operating in the India Automotive Thermoplastic Polymer Composites Market.
