India Composite Market Size, Growth Analysis, Industry Insights and Research Report by 2033

MARKET OVERVIEW

The India Composite Market size reached a market size of USD 8.04 Billion in 2024. It is projected to nearly double to USD 16.00 Billion by 2033, growing at a CAGR of 7.10% during the forecast period 2025-2033. Growth is driven by rising electric vehicle adoption, advancements in composite manufacturing technologies, and demand from UAV applications. Lightweight and durable composites improve efficiency and performance across sectors, supported by government initiatives and technological innovations promoting sustainable materials. The report presents a thorough review featuring the India Composite Market growth, share, trends, and research of the industry.

STUDY ASSUMPTION YEARS

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

INDIA COMPOSITE MARKET KEY TAKEAWAYS

• Current Market Size: USD 8.04 Billion in 2024
• CAGR: 7.10% during 2025-2033
• Forecast Period: 2025-2033
• Increasing electric vehicle adoption in India is significantly boosting demand for advanced composite materials.
• Innovations in composite manufacturing techniques, including automated fiber placement and 3D printing, are enhancing production efficiency and product quality.
• The growing use of UAVs in defense, surveillance, and commercial sectors is driving demand for lightweight, high-performance composites.
• Government initiatives and private sector involvement are propelling local composite-based UAV manufacturing.
• Expansion in applications in automotive, aerospace, and construction sectors due to the beneficial properties of composites.

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MARKET TRENDS

The expansion of India's electric vehicle (EV) market is a major trend fueling the composite market growth. Government incentives and rising acceptance of EVs have encouraged manufacturers to integrate lightweight composites to improve battery efficiency and vehicle structural integrity. Composites are increasingly replacing metals in vehicle parts due to their superior strength-to-weight ratio and corrosion resistance. Advanced manufacturing processes such as compression molding reduce production costs, making composites more viable for mass EV production. In 2024, Navrattan Group introduced an e-bus with glass fiber composite technology, highlighting sustainable and economical transport solutions for varying Indian road conditions.

Technological advancements in composite production are continuously evolving with methods like automated fiber placement, resin transfer molding, pultrusion, and additive manufacturing improving quality and scalability. The integration of artificial intelligence and machine learning in manufacturing enhances material properties and detection of defects, ensuring consistent quality. Developments in nanocomposites and hybrid materials are expanding application domains by providing better mechanical strength and thermal resistance. Industry 4.0 technologies such as digital twin simulation and robotics optimize production, reduce waste, and improve design flexibility. The 2024 launch of the Markforged FX10 3D printer in India exemplifies these technological leaps.

The usage of unmanned aerial vehicles (UAVs) is growing across defense, security, and commercial sectors, driving demand for advanced composites. Composites provide lightweight yet strong drone structures that enhance flight efficiency, payload, and durability. Hollow-body composite designs contribute to longer flight times and agility, beneficial for applications in agriculture, disaster relief, and industrial inspections. Government support and private sector participation are fostering local UAV manufacturing capabilities. In 2024, Vikram Composites launched the Scout drone featuring a highly lightweight composite frame suited for versatile, high-performance roles.

MARKET GROWTH FACTORS

Growth of the composite market is underpinned by rising adoption in the automotive industry, predominantly due to composites offering lightweight and strong materials that improve fuel efficiency and sustainability. Government initiatives targeting infrastructure and renewable energy expansion, notably in wind energy, are fueling composite demand. Increasing awareness of environmental impacts and fuel efficiency across industries further accelerates composite usage. These drivers collectively support sustained market growth at a 7.10% CAGR over the forecast period.

Technological innovations in composite manufacturing reduce material costs and production times while enhancing performance. Automation, AI-driven defect detection, and advanced composite materials like nanocomposites are broadening industrial applications in sectors such as aerospace and healthcare. New manufacturing technologies, including advanced 3D printing, enable quicker prototyping and scale-up, facilitating adoption by diverse end-users. Such advancements increase competitiveness and market penetration for composites in India.

The surge in unmanned aerial vehicle deployment boosts demand for composites that provide lightweight, durable structures essential for flight endurance and payload capacity. The Indian government’s encouragement of indigenous UAV production and private sector involvement accelerates the composite usage growth in this segment. These factors contribute markedly to the overall expanding composite market landscape.

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MARKET SEGMENTATION

Product Insights:

• Carbon Fiber
• Glass Fiber
• Others

Detailed analysis covers market split by product type, evaluating demand and applications of carbon fiber, glass fiber, and other composite products.

Manufacturing Process (MFG Process) Insights:

• Layup
• Filament
• Injection Molding
• Pultrusion
• Compression Molding
• RTM
• Others

Market segmentation based on manufacturing processes includes detailed assessment of various methods like layup, filament winding, injection molding, and others influencing production efficiency and product characteristics.

Application Insights:

• Automotive and Transportation
• Electrical and Electronics
• Wind Energy
• Construction and Infrastructure
• Pipes and Tanks
• Marine
• Others

Applications cover diverse sectors deploying composites for their performance benefits, including automotive, electronics, wind energy, infrastructure, marine use, and other industrial areas.

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REGIONAL INSIGHTS

The report segments the India composite market by regions: North India, South India, East India, and West India. Specific dominant regional statistics are not explicitly provided in the source. Thus, the dominant region and related exact market share or CAGR data are Not provided in source.

RECENT DEVELOPMENTS & NEWS

In January 2025, the International Conference & Exhibition on Reinforced Plastics (ICERP) 2025 occurred in Mumbai, emphasizing advancements in composites technology to meet international quality benchmarks. In March 2024, Jindal Advanced Materials (JAM) partnered with Italy’s MAE S.p.A. to launch a carbon fiber composites initiative in India introduced at JEC World 2024, aiming to upgrade India’s composite engineering and equipment standards.

KEY PLAYERS

• Navrattan Group
• 3D Monotech (part of Monotech Systems Limited)
• Vikram Composites
• Jindal Advanced Materials (JAM)
• MAE S.p.A.

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