| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Historical Data Period | 2019 - 2023 |
| CAGR | 7.00% |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Automotive Thermoplastic Polymer Composites Market Analysis by Mordor Intelligence
The India Automotive Thermoplastic Polymer Composites 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 Market Trends and Insights
Glass Mat Thermoplastic (GMT) is Expected to Grow with a Fast Pace
Glass mat thermoplastic sheets were first introduced in 1970. Considering the cost-related mechanical performance criteria, GMT composites are located between injection moldable, discontinues (long or short) glass-fiber-reinforced composites, and advanced thermoplastic with various fiber architecture.
They offer various benefits, such as
Design freedom: Production of complex parts by integrating several functions elements
Low density.
Easy Recycling
High innovation potential, in terms of production and ecological demands.
High productivity
Although GMTs are available in various polymer matrices is dominated by propylene-based composites, due to their low price. These are well capable of competing with other structure materials, primarily in conditions where temperature lesser than 110°C are maintained.
Glass mat thermoplastic composites are witnessing demand from the composite market. They are easy to use, with superior mechanical performance.
Mercedes-Benz selected two grades of glass mat-reinforced thermoplastic material, which are supplied by the Swiss material producer, Quadrant Plastic Composites. These materials are used for manufacturing the innovative front-end module, which was designed for its S-class series luxury coupe. The new front-end module weighs only 3.4 kg, while the previous model used to weigh 5 kg.
Innovations and greater market penetration are expected to drive the demand for glass mat thermoplastic composites during the forecast period.
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Transportation Sector to Drive the Market
Indian Transportation industry contributed roughly 6.3% of its GDP and is majorly dominated by the road sector. More than 50% of freight and 90% of passenger traffic are handled by road. The government, private investments, rising exports, increasing interstate movement of goods and passengers, growing FMCG sector, and increasing disposable income are the primary drivers of the transpiration industry in India. To boost India's connectivity, 100% FDI has been allowed in roads and the Highway sector via automatic route.
As the growth in tier 1 and tier 2 cities are increasing, the government is aiming to connect those to major growing major metro cities. New liberalization programs of FDI norms are expected to facilitate entry of new players and thereby encouraging competition in these markets. This will bring higher affordability, especially in the aviation industry. The increasing focus on minimizing carbon emission and enhancement of fuel economy, primarily by reducing the weight of a vehicle, are driving the demand for thermoplastics composites.
Continuous fiber-reinforced thermoplastic composites (CFRTP) are primary materials that can address the rising concerns regarding a vehicle's weight. In combination with metals, CFRTP composites will be a part of a multi-material approach when designing the car of the future. These materials are developed and assembled with recyclability and sustainability in mind. Also, the automotive industry standards will serve to align methods for characterizing the performance of CFRTP composites.
The automotive industry is undergoing a significant transformation. As companies explore various options to address future needs, collaboration has proven to be an effective way to discover the new growth avenues and will leverage risk. The preferred approach is a collaboration with strategic players throughout the value chain.
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Competitive Landscape
The India Automotive Thermoplastic Polymer Composites Market is fragmented with various startups and regional players such as 3B-Fiberglass, Base Group, BASF, Gurit, and Solvay. Although to have the edge over its competitors, the companies are making joint-ventures, partnerships to launch newer products.
In 2019, Renolit GOR S.p.A. was India's top producer for Renolit Tecnogor, a glass fiber-reinforced, polypropylene-based (GF-PP) lightweight thermoplastic composite material. Today the company has added a new production line to the APPL GOR Plastics India Pvt. Ltd. plant. This is to serve customers in India and the other Asia Pacific nations. The new extrusion line is located in Pune. It will also be the first facility outside of Europe able to produce Renolit Tecnogor thermoformable sheets and rolls, along with other lightweight products in the Renolit Composites range.
India Automotive Thermoplastic Polymer Composites Industry Leaders
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3B-Fiberglass
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BASF
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Gurit
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Solvay
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Arkema Group
- *Disclaimer: Major Players sorted in no particular order
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Recent Industry Developments
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India Automotive Thermoplastic Polymer Composites Market Report Scope
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 |
| Production Type | Hand Layup |
| Resin Transfer Molding | |
| Vacuum Infusion Processing | |
| Injection Molding | |
| Compression Molding | |
| Application Type | Structural Assembly |
| Power Train Components | |
| Interior | |
| Exterior | |
| Others |
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Key Questions Answered in the Report
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 (2025-2030)
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.
What years does this India Automotive Thermoplastic Polymer Composites Market cover?
The report covers the India Automotive Thermoplastic Polymer Composites Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Automotive Thermoplastic Polymer Composites Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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India Automotive Thermoplastic Polymer Composites Market Report
Statistics for the 2025 India Automotive Thermoplastic Polymer Composites market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Automotive Thermoplastic Polymer Composites analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.
