Irving, TX, June 15, 2014 --(PR.com
)-- The Indian composite textiles market is estimated to witness strong growth and reach $127 million by 2018. Despite the high cost of glass and carbon fibers, presence of only two major glass fiber producers in India, import restrictions, and lack of mechanized process, the Indian composite textiles industry has posted a substantial growth during the last decade. The Indian composites textiles industry witnessed dramatic changes that could be attributed to a host of economic factors.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the market conditions of the Indian composite textiles market and presents its findings in “Growth Opportunities in India Composite Textiles Market: Trend and Forecast 2013-2018.” From the analysis presented, composite textiles raw material suppliers, manufacturers as well as composite product producers will recognize that two scenarios for short-term and long-term business exist.
Lucintel analyses that raw material cost for composite textiles is dependent on the fiber cost which is quite high, especially borax, which comprises approximately 50% to 75% of the total production cost for glass fiber, while for carbon fiber the precursors cost more than 80% of the total cost. The cost of fuel,which is crucial to the industry, is extremely volatile.
The report studies that composite textiles are making inroads in end user markets, such as wind energy, transportation, marine, and construction because of their outstanding chemical and mechanical properties. Composite textiles, with high strength-to-weight ratio, is primarily used where high strength and minimum weight is required. It also offers flexibility in design.
Composite textiles are finding their increased usage in the end applications and markets. The trends in these application markets are likely to shape the Indian composite textiles industry. Applications are going through an evolution, and thus new trends can be observed in the Indian composite textiles market.
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