The India Carbon Composites Market Size was estimated at 483.3 (USD Million) in 2023. The India Carbon Composites Industry is expected to grow from 518.1(USD Million) in 2024 to 1,140 (USD Million) by 2035. The India Carbon Composites Market CAGR (growth rate) is expected to be around 7.432% during the forecast period (2025 - 2035).
Market drivers are boosting the growth of the India Carbon Composites Market substantially. For example, the rising need from defense and aerospace industries is driving manufacturers to carbon composites due to their lightweight and high-strength qualities. Investments in advanced materials, including carbon composites, is aided by the Indian government’s focus on boosting manufacturing through the Make in India initiative as well as the National Aerospace Policy. Furthermore, the automotive industry is actively looking for ways to reduce emissions and enhance fuel consumption, which is making them turn towards carbon composites. The trend towards electric vehicles in India is on the rise and these vehicles typically use lighter materials such as carbon composites to increase range and performance.
Untapped opportunities lie in the application expansion of carbon composites in civil engineering and in sports goods, which will help benefit infrastructure projects. Indian companies looking for renewable energy solutions are opening new opportunities for carbon composites in the wind energy field, particularly in turbine blades. There is a rise in interest towards domestically manufactured carbon composites to decrease reliance on imports, thus supporting the local supply chain. Recent trends illustrate that there is an increased focus on research and development towards creating low-cost carbon composite manufacturing processes and making these products more accessible.
This is further stressed by the partnerships between industry and academia directed towards improving the transfer of technology and innovation in carbon composites in India. All in all, the India Carbon Composites Market is on the cusp of a shift fueled by changes in consumer behavior and policies provided by the government.
The India Carbon Composites Market Industry is set to benefit significantly from the expanding aerospace and defense sector in India. The Government of India has announced significant investments in these sectors, with the aim of increasing domestic production and reducing dependency on imports. According to the Directorate General of Civil Aviation, the Indian civil aviation market is expected to double the number of aircraft within the next ten years, which would require lightweight and durable materials such as carbon composites for manufacturing.Additionally, the Ministry of Defence has initiated various projects including the Defence Production Policy aimed at promoting indigenous manufacturing of defense equipment and materials. With the rise in domestic aircraft production and the development of defense technologies, the demand for carbon composites will surge, bolstering the India Carbon Composites Market Industry in the near future.
The adoption of carbon composites is rising in the Indian automotive sector due to the continuous push for lightweight materials aimed at enhancing fuel efficiency and reducing emissions. The Indian government's push for electric vehicles (EV) by introducing the Faster Adoption and Manufacturing of Electric Vehicles scheme has also prompted auto manufacturers to explore innovative materials. Reports from the Society of Indian Automobile Manufacturers indicate that the Indian automotive industry is projected to reach a market size of USD 300 billion by 2026, which will further necessitate the use of carbon composites, especially in electric and hybrid vehicles.This transition to leveraging lightweight materials in all segments of automotive manufacturing is driving growth in the India Carbon Composites Market Industry.
The growth of the renewable energy sector, particularly wind energy, is a significant driver for the India Carbon Composites Market Industry. According to the Ministry of New and Renewable Energy, India has substantial plans to achieve a total installed renewable energy capacity of 175 GW by 2022, with a substantial portion derived from wind energy. Wind turbine blades are increasingly being made from carbon composites due to their higher strength-to-weight ratio, resulting in improved efficiency and performance.The increased investment in wind power projects across states, driven by various government initiatives, is expected to augment the demand for carbon composites, further enhancing the prospects of the India Carbon Composites Market Industry.
The Matrix segment within the India Carbon Composites Market showcases a diverse landscape marked by its multifaceted applications and characteristics. The expected growth trajectory of this segment aligns significantly with the rising demand for lightweight materials across various industries, including automotive, aerospace, and construction, contributing to efficient fuel consumption and enhanced performance. Each category within the Matrix segment, such as Hybrid, Metal, Ceramic, Carbon, and Polymer, plays a crucial role in shaping the overall market dynamics. Hybrid matrices, which combine properties of different materials, are often favored for their ability to offer superior strength and versatility, making them applicable in high-performance environments. Metal matrices leverage the inherent durability and thermal resistance, facilitating their use in demanding applications like high-temperature aerospace components. Ceramic matrices are recognized for their exceptional thermal stability and hardness, making them ideal for applications exposed to extreme conditions. On the other hand, Carbon matrices are valued for their low density and excellent mechanical properties, which contribute positively to various sporting goods and aerospace structures. Lastly, Polymer matrices are prevalent in automotive and consumer goods due to their cost-effectiveness and ease of processing, which appeals to manufacturers looking for sustainability without sacrificing performance. The interplay between these various matrix types signifies not just a competitive landscape but also highlights the ongoing innovations in materials science within India. Emerging trends in eco-friendly composite development are notably becoming significant drivers, as industries strive to meet stringent environmental regulations and customer expectations for sustainable products. The advancements in manufacturing techniques, including additive manufacturing and continuous fiber methods, further enhance the performance characteristics of carbon composites, making the Matrix segment a focal point for Research and Development investments. Overall, the diverse applications and evolving technologies across these categories within the India Carbon Composites Market suggest strong growth potential and a pivotal role in meeting the future material needs of various sectors.
The Process segment of the India Carbon Composites Market is a critical component driving growth and innovation within the industry. This sector encompasses various techniques, including Prepeg Layup Process, Pultrusion and Winding, Wet Lamination and Infusion Process, Press and Injection Processes, and Other Processes. Prepeg Layup Process is particularly significant due to its ability to create high-performance composites with excellent mechanical properties, making it valuable in aerospace and automotive applications. Pultrusion and Winding techniques provide efficiency and consistent results, catering to the demands for lightweight structures in construction and marine industries.The Wet Lamination and Infusion Process stands out for its flexibility and cost-effectiveness, enabling manufacturers to produce complex shapes while reducing waste. Press and Injection processes are vital for high-volume production, particularly in the automotive sector, ensuring that parts can be produced quickly without compromising quality. Together, these methods contribute to the dynamic landscape of the industry, underscoring the importance of continuous advancements and adaptations to meet evolving market needs.
The India Carbon Composites Market is witnessing significant growth, driven by advancements in technology, increasing demand for lightweight materials, and the expansion of various end-use industries such as aerospace, automotive, and construction. As the market evolves, competition intensifies, with several key players striving to enhance their offerings and capitalize on market opportunities. Companies are focusing on innovations in product development, forging strategic partnerships, and optimizing their supply chains to gain a competitive edge. As carbon composites are increasingly recognized for their durability and performance, players within this market are also investing in research and development to create superior materials that cater to the specific needs of Indian industries. This growing landscape is likely to shape the competitive dynamics significantly.Boeing India has positioned itself as a prominent player in the India Carbon Composites Market, leveraging its extensive expertise and global resources. The company benefits from a robust market presence, being a subsidiary of a leading global aerospace manufacturer. Its strengths lie in its commitment to excellence in engineering and manufacturing, which enables the company to produce high-performance carbon composite components used in various aerospace applications. With a focus on sustainability and efficiency, Boeing India is actively involved in developing innovative carbon composite solutions tailored to the unique demands of the Indian aerospace sector. The company’s collaborations with local suppliers and stakeholders further enhance its competitive position in the market, enabling it to better serve the growing needs of the aviation industry.Mahindra Aerospace stands out in the India Carbon Composites Market by offering a range of products and services that cater specifically to the aerospace sector. Known for its commitment to innovation, Mahindra Aerospace actively develops carbon composite solutions that incorporate advanced manufacturing techniques. The company has successfully established a significant market presence within India, focusing on not only domestic demand but also potential exports. Key strengths of Mahindra Aerospace include its extensive knowledge of the aerospace domain, strong supply chain management, and a proactive approach to research and development. In recent years, Mahindra Aerospace has explored strategic mergers and acquisitions to enhance its capabilities and offer cutting-edge solutions in carbon composites, allowing it to remain competitive in an evolving market landscape while catering to emerging opportunities within the Indian aviation industry.
The recent developments in the India Carbon Composites Market have showcased significant growth and activity among key companies such as Boeing India, Mahindra Aerospace, and Tata Advanced Systems. In September 2023, Boeing India announced plans to increase its investments in advanced aerospace technologies, focusing on carbon composites for aircraft components. Meanwhile, in August 2023, Mahindra Aerospace unveiled new manufacturing capabilities for carbon fiber composite structures, indicating a commitment to expanding its footprint in the sector. Additionally, the Aditya Birla Group is making strides in carbon fiber production, with plans to enhance its capabilities further. Notably, SGL Carbon and Mitsubishi Chemical Corporation have been in discussions about strategic collaborations in carbon technologies to bolster their offerings in India, highlighting the importance of partnerships in the sector. The market has seen an increase in demand for lightweight materials, critically impacting the automotive and aerospace industries, driving companies to innovate and diversify their product lines. India's Ministry of Heavy Industries and Petroleum has also been advocating for the use of composite materials in manufacturing, further boosting the industry's prospects over the last few years. The market dynamics reflect a robust trajectory, underpinned by ongoing investments and technological advancements.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 483.3(USD Million) |
| MARKET SIZE 2024 | 518.1(USD Million) |
| MARKET SIZE 2035 | 1140.0(USD Million) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 7.432% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Million |
| KEY COMPANIES PROFILED | Boeing India, Mahindra Aerospace, Aditya Birla Group, Toray Industries, BASF India, Mitsubishi Chemical Corporation, SGL Carbon, Teijin Limited, Jubilant Ingrevia, Godrej and Boyce, Hindustan Aeronautics Limited, Reliance Industries, Hexcel Corporation, Tata Advanced Systems, India Carbon Limited |
| SEGMENTS COVERED | Matrix, Process |
| KEY MARKET OPPORTUNITIES | Rising demand in aerospace industry, Growth in automotive lightweighting, Expanding construction applications, Increasing adoption in renewable energy, Advancements in manufacturing technologies |
| KEY MARKET DYNAMICS | growing aerospace applications, increasing automotive demand, expanding renewable energy sector, advancements in manufacturing technology, rising environmental awareness |
| COUNTRIES COVERED | India |
Frequently Asked Questions (FAQ) :
The India Carbon Composites Market is projected to be valued at 518.1 million USD in 2024.
By 2035, the India Carbon Composites Market is expected to reach a valuation of 1140.0 million USD.
The CAGR for the India Carbon Composites Market from 2025 to 2035 is anticipated to be 7.432 percent.
The Carbon segment is projected to grow to 370.0 million USD by 2035, indicating significant growth potential.
Major players include Boeing India, Mahindra Aerospace, Aditya Birla Group, and several others actively participating in the market.
The Hybrid matrix segment is expected to be valued at 180.0 million USD by 2035.
The Metal matrix segment is expected to reach approximately 140.0 million USD by 2035.
Applications in aerospace, automotive, and industrial manufacturing are key drivers of market growth.
The Polymer matrix segment is projected to be valued at 153.1 million USD in 2024.
Current global economic conditions are likely to impact supply chains and demand patterns in the market.
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Research Analyst Level I In her 3 years of experience in the market research field, she has handled critical cross-domain projects. she has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.she holds an engineering degree and is an mba professional from a well-known university, capable of evaluating the market and competitive conditions. an exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. generated business through active client and project development, networking, and high-quality responses. her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.
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