DUBLIN--(BUSINESS WIRE)--The "Wind Turbine Composites Market to 2027 - Global Analysis and Forecasts by Fiber Type; Resin Type; Manufacturing Processes; Application, and Geography" report has been added to ResearchAndMarkets.com's offering.
The global wind turbine composites market accounted for US$ 5,621 million in 2018 and is expected to grow at a CAGR of 5.8% during the forecast period 2019-2027, to account for US$ 9,138.6 million by 2027.
The use of composites helps in the production of lightweight components with excellent characteristics, low maintenance cost, resistance to corrosion, and long life of products.
Based on application, the wind turbine composites market has been segmented into blades and nacelles. The blades segment dominated the wind turbine composites market in 2018. Moreover, the nacelles segment is projected to grow at a faster pace over the forecast period.
Wind turbine blades are defined as the airfoil-shaped blades which are involved in the harnessing of wind energy and driving the rotor of a wind turbine. The airfoil-shaped-design applies a lift perpendicular to the direction of the wind in the blades. A wind turbine blades comprise of two faces, which includes the suction side and the pressure side, combined together either by one or several integral web linking the upper and lower parts of the blade shell or by a box beam. Mostly, blades are composed of fiberglass-reinforced polyester or epoxy.
In 2018, the Asia Pacific region dominated the wind turbine composites market, both in terms of value and volume owing to the expansion of the wind energy sector along with the rising production of composites in the region. Other major factors leading to the rapid growth of wind turbine composite market in this region include increasing demand for renewable energy sources, growing demand for lightweight and high strength materials used in the manufacturing of various parts of wind turbines.
Furthermore, supportive government initiatives such as favorable policies, wind power development programs, government regulations concerning renewable energy, and adjusted feed-in tariffs for land-based wind power installations have boosted the demand for wind turbine composites.
Some of the players present in global wind turbine composites market are ENERCON GmbH, Hexcel Corporation, Lianyungang Zhongfu Lianzhong Composites Group Co.,Ltd, LM Wind Power, Molded Fiber Glass Companies, Nordex SE, Siemens Gamesa Renewable Energy, S.A., Suzlon Energy Limited, TPI Composites, Inc., Vestas Wind Systems A/S, among others.
Reasons to Buy
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global wind turbine composites market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
Key Topics Covered
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Wind Turbine Composites Market, by Fiber Type
1.3.2 Wind Turbine Composites Market, by Resin Type
1.3.3 Wind Turbine Composites Market, by Application
1.3.4 Wind Turbine Composites Market, by Geography
2. Key Takeaways
3. Research Methodology
3.2 Secondary Research
3.3 Primary Research
4. Wind Turbine Composites Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America PEST Analysis
4.2.2 Europe PEST Analysis
4.2.3 Asia-Pacific PEST Analysis
4.2.4 Middle East & Africa PEST Analysis
4.2.5 South America PEST Analysis
4.3 Expert Opinion
5. Wind Turbine Composites Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Growing Number of Wind Turbine Installations
5.1.2 Increasing Length of Wind Turbine Blades
5.2.1 High Dependence of Wind Energy Industry on Government Subsidies
5.3.1 Increasing Focus of Governments on Offshore Wind Energy Installations
5.4 Future Trends
5.4.1 Adoption of Natural Fiber Reinforced Polymer (NFRP) Composites
5.5 Impact Analysis of Drivers and Restraints
6. Wind Turbine Composites Market - Global Market Analysis
6.1 Global Wind Turbine Composites Market Overview
6.2 Global Wind Turbine Composites Market Forecast and Analysis
7. Global Wind Turbine Composites Market Analysis - by Fiber Type
7.2 Global Wind Turbine Composites Market Breakdown, by Fiber Type, Value, 2018 & 2027
7.3 Glass Fiber
7.4 Carbon Fiber and Others
8. Global Wind Turbine Composites Market Analysis - by Resin Type
8.2 Global Wind Turbine Composites Market Breakdown, by Resin Type, 2018 & 2027
8.5 Vinyl Ester
9. Global Wind Turbine Composites Market Analysis - by Manufacturing Process
9.2 Global Wind Turbine Composites Market Breakdown, by Manufacturing Process, 2018 & 2027
9.3 Vacuum Injection Molding
9.5 Hand Lay-up
10. Global Wind Turbine Composites Market Analysis - by Application
10.2 Global Wind Turbine Composites Market Breakdown, by Application, 2018 & 2027
11. Wind Turbine Composites Market - Geographical Analysis
11.2 North America Wind Turbine Composites Market Volume and Revenue Forecasts to 2027
11.3 Europe Wind Turbine Composites Market Volume and Revenue Forecasts to 2027
11.4 Asia-Pacific Wind Turbine Composites Market Volume and Revenue Forecasts to 2027
11.5 Middle East & Africa Wind Turbine Composites Market Volume and Revenue Forecasts to 2027
11.6 South America Wind Turbine Composites Market Volume and Revenue Forecasts to 2027
12. Industry Landscape
12.1 Mergers & Acquisitions
12.2 Project Finance
12.3 Product News
12.4 Strategic & Business Planning
12.5 Research & Development
13. Company Profiles
13.1 Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
13.2 LM Wind Power
13.3 Molded Fiber Glass Companies
13.4 Suzlon Energy Limited
13.5 ENERCON GmbH
13.6 Nordex SE
13.7 Vestas Wind Systems A/S
13.8 Siemens Gamesa Renewable Energy S.A.
13.9 TPI Composites Inc.
13.10 Hexcel Corporation
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