Wind turbine composites materials are utilized for the assembling of cutting edge and all the more intense wind turbines edges. Cutting edges, nacelles and other such parts of wind turbines are produced utilizing these composites. Popularity for wind turbine sharp edges and expanding significance of sustainable power sources are driving this market.
The Global Wind Turbine Composites Material Market accounted for USD 7.60 billion in 2016 and is projected to grow at a CAGR of 9.5% during the forecast period of 2017 to 2024.
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Major Market Drivers:
Increasing Length Of Wind Turbine Blades
Use Of Carbon Fiber In Wind Blades
Demand For Renewable Energy Sources
High cost of carbon fiber and epoxy resin
High dependence of wind energy industry on government subsidies
Market Segmentation: Global Wind Turbine Composites Material Market
The wind turbine composites material market is segmented on the basis of type into glass fiber, carbon fiber and others.
On the basis of resin, the market is segmented into epoxy, polyester, vinyl ester and others.
On the basis of manufacturing process, the market is segmented into vacuum injection molding, prepreg, and hand lay-up.
On the basis of application, the market is segmented into blades, nacelles and others.
On the basis of geography, the wind turbine composites material market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, Asia-Pacific is expected to dominate the market.
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Competitive Landscape: Global Wind Turbine Composites Material Market
The global wind turbine composites material market is consolidated with the presence of a limited number of manufacturers. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Major Market Competitors: Global Wind Turbine Composites Material Market
Some of the major players in wind turbine composites material market include AREVA, Avic Huiteng Wind Power Equipment Company Limited, Enercon GmbH, Gamesa Corporation Technology, Kemrock Industries and Exports Limited, LM Wind Power, Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd, Mfg Wind, Nordex SE, Senvion, Siemens AG, Suzlon Energy Limited, TPI Composites, Inc., United Power, Vestas Wind Systems A/S and many more.
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