Increase in Use of Carbon Fiber in Wind Blades Expected to Drive Global Wind Turbine Composite Materials Market: Ken Research

The wind turbine composite material forms an important component of wind turbine for the production of turbine rotor blade. This composite material is made up of matrix & fiber to provide physical strength and distributes loads in composite. The matrix material acts as a binder and maintains spacing of the fiber material, therefore protecting the fiber from environmental & abrasion damage. The composite material manufactured from the fortification of matrix and fiber is far superior from the conventional metals for instance aluminum and steel.

According to study, “Global Wind Turbine Composite Materials Market: Market Segments: By Type (Fiber, Resin and Others); By Technology (Vacuum Injection Molding, Prepreg, Hand Lay-Up, and Others); Application (Wind blades, Nacelles, and Others);and Region – Analysis of Market Size, Share & Trends for 2014 – 2019 and Forecasts to 2030” the key companies operating in the global wind turbine composite materials market are LM Wind Power, TPI Composites, Orano, Vestas, Molded Fiber Glass Companies, Suzlon Energy Limited, Siemens, Nordex SE, goldwind.com.cn, Senvion S.A., Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd,  Toray Industries, Inc, Koninklijke Ten Cate bv, ENERCON GmbH, Solvay, Gurit, Teijin Limited, Exel Group World Wide, Sigma industries Inc., Hexcel Corporation and Reliance Industries Limited. The key companies are focusing on emerging economies, where rapid industrialization has led to augmented demand for alternative sources of energy. Additionally, several players are working toward the expanding their wind turbine composite material manufacturing capacity or geographical reach to cater to the increasing demand for such materials across the world.

Based on resin type, wind turbine composite materials market is segmented as polyester, epoxy and vinyl ester. Based on fiber type, market is segmented as carbon fiber and glass fiber. Based on manufacturing process, market is segmented as prepreg, vacuum injection molding and hand lay-up. In addition, based on application, market is segmented as nacelles, blades and others (hub and towers).

The wind turbine composite materials market is driven by increase in use of carbon fiber in wind blades, followed by surge in length of wind turbine blades, strict environmental regulations, increase in wind power generation capacity and surge in government funding for wind power generation and rise in demand for renewable energy sources. However, recyclability issue of composites, high cost of carbon fiber & epoxy resin and high dependence of wind energy industry on government subsidies may impact the market. Moreover, increase in focus of governments on offshore wind energy installations and rise in demand from emerging markets are key opportunities for market. Furthermore, increase in compliance for carbon fiber reinforcement and growth in technological advancements in advance composites are major trends for market.

Based on geography, the Asian-Pacific region holds major share in global wind turbine composite materials market owing to increase in wind energy infrastructure and growth of installed wind power sizes in India and China. The North-American and European regions are estimated to witness higher growth rate due to increase in awareness of renewable energy sources and new product launches & higher expansions over the forecast period. It is predicted that future of the global market will be optimistic on account of growth in adoption of renewable & sustainable energy generation during the forecast period.

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Global Wind Turbine Composite Materials Market

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