In 2023, the import of webs, mattresses, and other nonwoven fibreglass products to India stood at approximately 22.1 million US dollars. Starting from 2024, a steady growth trajectory is forecasted, with imports expected to reach 25.756 million US dollars by 2028. The year-on-year growth rates for 2024 and 2025 are projected at 3.3% and 3.1%, respectively. From 2023 to 2028, the compound annual growth rate (CAGR) is estimated at about 3.1%, indicating a consistent upward trend in the import market.
Future trends to monitor include:
- Demand shifts driven by construction, automotive, and industrial sectors could influence import volumes.
- Potential impacts of trade policies and tariffs on import dynamics.
- Technological advancements in fibreglass products that could affect product demand and sourcing.