Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?

By default, I am a Mechanical Engineer but driven by passion and zeal to learn something totally unknown to me, I then veered into the field of Polymer Chemistry/Engineering in the late 1970s. I liked the subject and have continued in the same field to this day (having worked in the Middle East for 13 years).

Was in active employment till mid-2019 and thereafter adopted the role of a Freelance Consultant helping entrepreneurs to set up new projects, technology upgradation, process, as well as material optimization, and so on.

While in active employment, I have worked in prominent sectors of composites application e.g., Infrastructure, Mass Transport, Renewable Energy, Automobile, Marine, Electrical, Building and Construction, and many more. Starting at the shop floor in-charge level, responsibilities have risen to senior management decision-making level, have run profit centers of operations management e.g., Manufacturing, Product Development, R&D, Sales & Marketing, Purchase & Materials Management, Project Implementation (from concept to commercialization), HR Management, and so on.

Q2. What is the current global and regional market size of the carbon fiber and hybrid composites sector?

Unfortunately, the predictions of Market size, including current and maybe 5 to 10 years down the line, are vastly different and sometimes too confusing. However, a reasonably safe estimate of the current Global Market size would be approximately. $18-$20 billion USD, with North America accounting for a major market share of approximately 43%.

The Hybrid Composites Market is relatively small till now. A safe estimate would be 1+ billion USD currently and may reach USD 1.6 billion by 2028 at a CAGR of 12.1% and USD 2.5 billion by 2032 at a CAGR of 12.8%.

Q3. How does the evolving global demand for lightweight and high-performance composites shape opportunities for indigenous manufacturers in sectors such as aerospace, automotive, and renewable energy?

The evolving global demand for lightweight and high-performance composites is largely dependent on the amount of Research and Development being conducted in respective Countries by major companies.

For example, a significant amount of R&D work is being carried out in Scandinavian Countries for the Wind Energy Sector by World Leaders in that Sector, such as Siemens Gamesa. Similarly, due to the presence of OEMs like Boeing and Lockheed Martin, a significant amount of R&D work is being conducted in North America for the Aerospace Sector in the future, which will benefit indigenous manufacturers in the region, especially those already associated or aligned with the OEMs.

Q4. What innovations are driving product growth, and which sectors are adopting these cutting-edge developments the fastest?

The aviation, automotive, marine, and wind energy sectors are rapidly adopting/utilising these cutting-edge developments to sustain innovation and drive product growth. A classic example is the development of Electric Air Taxis, where the developers have already begun validation flights.

Similarly, in the wind energy sector, with the development of high-output power wind generators where extra-long blades like 97 M, 108 M, and 115 M blades are used, it has necessitated enhanced performance requirements like light weight, rigidity, stiffness, superior strength, and durability, which are met by CF or CF Hybrid Composites.

In the automotive industry, extensive efforts are being put into reducing the weight of vehicles to increase fuel efficiency for both passenger and commercial vehicles, whereas for EVs, a reduction in weight is a prime factor to increase the efficiency of the vehicle.

Q5. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?

Assuming it is a manufacturing set-up, critical questions should be as follows.

• What is the product or spectrum of products chosen to manufacture which the project is being launched and logic behind conceiving such a project e.g. it's a new concept which has got extremely high market potential or adopting a product which is already being manufactured and marketed by one or more establishment/s but due to high demand and high end Technology involved competition is negligible or zero or any other considerations
• Whether the company itself conducted an in-depth market study before preparing the project report, or appointed a competent agency to do so, and to what extent the report was detailed. Does the current scenario described in the report closely match or exactly match the actual market status?
• What would be the total budget to launch the project, and what ROI time has been considered, taking into consideration all standard applicable Industry norms?
• What is the Debt Equity ratio if applicable?
• Other than private investor/s, whether the company is also approaching any institutional investors, and if so, what is the pay-back period of the fund invested by the institutional investor?
• Whether the product or the spectrum of products chosen is for the National Market only or has/have encouraging Export potential
• Location of the manufacturing setup and consideration/s for choosing such a location, e.g., a backward area where the government offers special incentives, availability of basic infrastructural facilities like road connectivity, power, water, proximity to a seaport (to facilitate Export activity)
• Marketing set up planned to cater to the National as well as the International Market (if applicable)
• Whether any JV is possible with any internationally reputed manufacturer of similar product/s
• Short and Long-term vision