L-R : Mr.Shekhar Sardessai, Chairman FRP Institute, Union Minister for Road Transport and Highways Nitin Gadkari, Ms. Piya Thakkar, Chairman, ICERP 2025
Mumbai, January 21, 2025: Union Minister for Road Transport and Highways Nitin Gadkari Ji pushed for use of composites for the proposed water taxi services which would connect Mumbai Vasai Kalyan Dombivli and Mumbai of to the upcoming Navi Mumbai International Airport in just 17 minutes with a requirement of about 10,000 taxis made of FRP. Gadkari Ji was speaking after he opened the 11th Edition of International Conference and Exhibition on Reinforced Plastics (ICERP) 2025 today. The FRP Institute organized this event from January 21 to 23, 2024 at Mumbai Exhibition Centre at Goregoan in Mumbai. Gadkari Ji revealed that jetties have already been constructed near the Navi Mumbai International Airport, which is slated to commence operations by March 2025. “By harnessing the vast sea routes around Mumbai and Thane and with composite material for taxis, we can significantly reduce traffic congestion and air pollution.’’
Gadkari Ji further added that the FRP Institute keeping the quality of composites intact must explore potential uses for this material while addressing cost challenges to increase its contribution in the growth story of our country. He added that composites are promising and if a reduction by 25–30% using advanced technology and local raw materials will boost this industry in India and abroad as its applications are in Defence, Automotive, Shipping, Infrastructure, Construction, Aerospace among others. Composites is a futuristic material, and can drive infrastructure development, innovation, and competition, benefiting the country’s progress significantly.
According to FRP Institute, the Indian composites raw materials market was pegged at US$ 1.8 billion by end of 2024. The domestic composites materials industry will keep growing at a 7.8% CAGR reaching US$ 2.8 billion by 2030. The composites end product market is US$ 4.6 billion in 2024 and expected to reach US$ 7.2 billion by 2030.
Ms. Piya Thakkar, who chairs ICERP 2025, highlighted how composites play a key role in sparking new ideas across industries and molding India’s future. She said, “The Indian Composites Industry is now picking up pace in its growth. As India moves towards becoming a world economic leader, the future looks very bright for the Indian Composites Industry. The US$ 4.6 billion Indian Composites products industry also known as reinforced plastics is expected to hit US$ 7.2 billion in 2030.’’
India is becoming a global manufacturing hub for the composites industry. It’s known to design, develop, and make cost effective products with new tech ideas. This puts India in a good spot to be the world’s top place to source composites material. The FRP Institute says the Indian Composites Material Industry is growing fast. It will use 768.2 kilotons by 2027. This growth is happening in cars, planes, defense, building, and clean energy.
Mr.Shekhar Sardessai, Chairman FRP Institute said, “Composites materials, or fibre-reinforced plastics (FRP), stand out for their unique ability to combine diverse properties like strength, durability, and lightweight design, making them indispensable for modern applications. These materials not only drive efficiency and innovation across industries but also contribute to a circular economy by promoting sustainability.”
In 2023, per capita consumption of composites in India was about 0.55 kg. This is much less than in other countries. For example, in the USA, it’s 11.5 kg per person, and in Germany, it’s 7.7 kg. But India is catching up fast. This means there’s a big chance for the market to grow. By the end of 2024 different industries in India will use 873.7 Kilotons of composites raw materials in volume and end products of composites will reach US$ 7.2 billion in value.
ICERP 2025 showcase India’s growing prominence in the composites sector, bringing together industry leaders, innovators, and policymakers to explore opportunities and chart the path forward. ICERP 2025 will bring together key players from various industries including construction, automotive, electrical, marine, defence, aerospace, and renewable energy, highlighting the growing role of composites in these sectors
