FRP Industry Future in India: Gadkari Urges Cost Reduction

New Delhi, Jan 21 (PTI) Noting that composite materials can be used an alternative for various industries, Union Minister Nitin Gadkari on Tuesday urged stakeholders of the fibre-reinforced plastics (FRP) industry to undertake research & development (R&D) activities to bring down cost by at least 25 per cent.

The FRP has a good future in the country and it can be used in multiple industries from renewable energy to infrastructure projects, the Minister for Road, Transport and Highways said, while addressing the International Conference and Exhibition on Reinforced Plastics (ICERP 2025) organised by the FRP Institute.

"FRP is very important not only for the road sector but for the aviation, space science, transport, shipping. Everywhere we need to reduce the cost. If you can reduce the (production) cost by 25-30 per cent by getting good technology and good raw materials available in the country... it is really the futuristic point of view," Gadkari said.

In the energy space, FRP materials can be used for CNG, LNG and hydrogen, he said, adding that there are a lot of upcoming ropeway projects where the FRP industry can explore opportunities.

"FRP is the material for the future. We are keenly interested to create more competition in the field of infrastructure. If we can reduce the rate as compared with the steel by 20-25 per cent then it can be a really good thing for the country," the minister said while addressing the stakeholders.

Gadkari also assured government support to the industry to address their challenges.

Composite materials or FRP help in the circular economy as these are manufactured by combining multiple materials with different properties.

The Indian composite materials market is likely to grow at a healthy CAGR of 7.8 per cent over the next six years to reach USD 2.8 billion in 2030 from USD 1.8 billion in 2024.