In 2023, India's import of mats of glass fibers stood at 22.8 million kilograms. Forecasted data for 2024 indicates an increase of approximately 4.2% year-on-year, continuing the upward trajectory into 2025 with an estimated rise of 4.3%, and subsequently 4.0% annually through to 2028. Over these five forecasted years, a Compound Annual Growth Rate (CAGR) of roughly 4% is anticipated, underlining consistent growth driven by expanding industrial demand and infrastructural advancements in India.
Future trends to watch for include technological advancements in material technology, shifts in supply chain dynamics, and governmental policy changes impacting import tariffs and demand. These factors could influence the forecast and should be monitored closely by stakeholders.
