The Hindu Business Line : Composites industry posts 25 pc growth

THE Rs 1,500-crore Indian composites industry registered a 25 per cent growth in 2004-2005, according to Mr S.K. Saxena, General Manager - India Business, Owens Corning, a company that offers composite solutions.

He said that with growth in the manufacturing sector and with significant investment going into infrastructure - two of the sectors that the composite industry caters to - the industry is likely to sustain this sort of growth for the next five to six years.

Mr Saxena said that the manufacturing of composites involves combining polymer and glass fibre or carbon fibre in order to produce a material that is lighter and stronger than steel.

He said that some of the advantages of using composites are that it has high strength, is low on maintenance costs, and is corrosion resistant.

He said that some of the industries it caters to include automobile, wind energy (turbines), buildings and industrial plants.

He said that with a lot of foreign companies entering the Indian market, export has also increased, forming about 20 per cent of the market.

With this in view, the International Conference and Exhibition of Reinforced Plastics (ICERP) will be held from February 23 to 25 at the Chennai Trade Centre. It is being organised by the FRP Institute (fibreglass reinforced plastics), and co-sponsored by Owens Corning.

Mr R. Ramesh, Executive Director, Devi Polymers, and Chairman, FRP Institute, said that around 100 exhibitors have booked 150 stalls.

He said that he expects business worth about Rs 300 crore to be transacted during the event.

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