Here’s how Indian billionaire Kumar Mangalam Birla may take the world of business by storm
Indian billionaire Birla may enter into the production of carbon fiber, which is a high-strength and light-weight composite material.
The carbon fibre business is expected to touch $4.7 billion globally by 2022.
Due to strength and light weight, carbon fiber is becoming popular in defense manufacturing and among
The market for carbon fiber is estimated to more than double to about $4.7 billion by 2022 from $2.2 billion in 2015, according to an Allied Market Research report.
"The main positive is that it's a much lighter material versus competitors such as steel or aluminium -- but is just as strong. This makes for energy and efficiency savings for customers,” said Johnson Imode, a London-based analyst with Bloomberg Intelligence.
Carbon fiber is a thin long strand, far thinner than even a human hair, in which carbon atoms are bonded together in a crystal alignment that makes the fiber incredibly strong for its size. Thousands of these strands are entwined together to form a yarn, which can be then woven into a fabric or used as it is.
Nearly half of the airframe of the Boeing 787 Dreamliner is comprised of carbon fiber reinforced plastic and other composites, according to the airline manufacturer.
If Birla takes the plunge, he would be the first large Indian player in the carbon fiber market.
Birla, 49, known for his penchant for dealmaking, has sealed two dozen mergers and acquisitions in the past two decades.