India Long Fiber Thermoplastics Market size is projected to grow at a CAGR of 10.6% during 2024-2030F

In terms of Type, Carbon long fibers have accomplished the highest revenue share in the India Long Fiber Thermoplastics Market – 6Wresearch

By Type, carbon long fibers are gaining momentum in the market attributed to robust strength and rigidity with its strong strength-to-weight ratio which is approximately twice that of fibreglass, making it exceptionally lightweight while maintaining impressive strength.

According to 6Wresearch, India Long Fiber Thermoplastics Market size is projected to grow at a CAGR of 10.6% during 2024-2030F. India's automobile industry ranks sixth globally, contributing significantly to the nation's manufacturing output, accounting for 49%. The Automotive Mission Plan, initiated by the Government of India, aims to increase the automotive sector's contribution to the national GDP from 7.1% to 12%. The target is to double the size of the automotive industry from 7.5 lakh crores in 2022 to 15 lakh crores by 2024 and further expand to 25 lakh crores by 2027-2028. This ambitious growth trajectory in India's automotive industry is expected to significantly drive the market demand for long fiber thermoplastics in the coming years, fueled by the industry's emphasis on lightweight, fuel efficiency, and sustainability. India's ambitious infrastructure development plans, including initiatives like Smart Cities and upcoming housing projects, would drive demand for durable and lightweight materials such as thermoplastics, including Polyvinyl Chloride (PVC), Polypropylene (PP), and others, in construction and infrastructure applications.

According to Sumit, Senior Research Analyst, 6Wresearch, the Automotive industry is dominating the market, driving substantial demand for carbon long fiber thermoplastics for manufacturing of various lightweight and durable automobile components.

The India Long Fiber Thermoplastics Market (2024-2030) report provides an in-depth analysis with 23 figures and 8 tables, covering 88 pages. The report comprehensively covers the market by type, processing methods, end users, resin types, and regions. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.