Recording a growth of 25 per cent last year, the fiberglass reinforced plastics (FRP) industry in the India would be coming together at the third biannual event organised by the FRP Institute and Mumbai-based Owens Corning India Ltd from 23 - 25 February at the Chennai Trade Centre.
The 3-day International Conference and Exhibition on Reinforced Plastics (ICERP - 2006) would have 150 exhibitors drawn from various stakeholders like raw material manufacturers, processors, end-users, academic institutions, machinery suppliers, designers and consultants who would utilise the common platform offered for the composite industry.
Comprising expositions, conference and business meets, ICERP would have presentation of technical papers by industry experts and a wide range of topics would be covered in the three-day seminars and business meets. Having a market value of $20 billion and a volume of 5.6 million tonnes per annum at the global market, the composite industry was all set for rapid growth in India which was poised for infrastructure expansion, said Sunil Saxena, general manager, India Business, Owens Corning Ltd. The Indian composite industry valued at Rs 1,500 crore could achieve a growth of over 25-30 per cent in the next few years, given the rising disposal income and potential for huge consumption in offing with growth of the economy, he said.
India has emerged as the fastest growing market for composites and with technical skills available in the country, global manufacturers have made it a preferred choice for setting up plants for exports. Last year products worth Rs 150 crore were exported from the country. Also, the growing concern for eco-friendly products have aided the growth of composites industry, said Saxena.
ICERP would expose the Indian FRP industry to the raw materials, machinery and technologies available abroad and showcase the capabilities of the domestic industry to the world, said R Ramesh, director, Devi Polymers Pvt Ltd, and chairman FRP Institute. An estimate of Rs 300 crore worth of business was expected to be transacted over the 3-day business event for composites industry.
Set up in 1999 to promote industry, FRP Institute services the needs of composites manufacturers through seminars, exhibitions and training programmes for the stakeholders in the fiberglass sector.