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Composites market
The Indian composites market is expected to reach an estimated US$2 billion in five years, growing at CAGR of 14.1 per cent from 2016 to 2021 according to an industry report by Research and Markets.
The major growth driver is demand for electrical and electronic, wind energy, and pipe and tank applications due to increase in the number of government projects like smart cities development, eco-friendly energy generation, fresh water transportation, sewage treatment system, rehabilitation of water and sewage pipe lines.
The report predicts that the demand for electrical and electronics in the Indian composites market is expected to experience the highest growth in the forecast period, supported by increasing number of government’s infrastructure projects. fii-news.com
