Global Energy Sector Composite Market Overview:
Energy sector composites are widely used because of their higher strength to weight ratio. Increasing demand from the wind energy sector to keep the blade weight under control driving the demand for energy sector composites. It has numerous properties such as fire corrosion resistance, retardancy, and durability and design flexibility. Further, increasing demand from the developing economies owing to growth in industrialization expected to drive the demand for energy sector composites over the forecasted period.
As per latest study released by AMA Research, the Global Energy Sector Composite market is expected to see growth rate of 8.5%Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Demand of Carbon Fiber Reinforced Plastic (CFRP)
Market Growth Drivers:
Increasing Demand for Longer Wind Turbine Blades and Rapid Industrialization in Developing Economies
Challenges:
Lack of Awareness in the Emerging Economies
Restraints:
Stringent Government Regulations Regarding Energy Sector Composite and High Technology Cost Associated With Energy Sector Composite
Opportunities:
Increasing Demand Form Wind Power Industry and Rising Demand from the Developing Economies
Competitive Landscape:
Leading global players are focusing on strategic partnerships to improve their products and services. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product & service offerings.
Some of the key players profiled in the report are Royal DSM N.V. (Netherlands), SGL Group (Germany), Gurit (Switzerland), Solvay (Belgium), General Electric (United States), Toray Industries Inc. (Japan), Teijin Limited (Japan), Mitsubishi Rayon Co., Ltd. (Japan), 3a Composites (Switzerland), Armacell International S.A. (Germany), Cytec Solvay Group (United States), Evonik Industries AG (Germany) and Hexcel Corporation (United States). Additionally, following companies can also be profiled that are part of our coverage like Exel Composites (Finland), PlastiComp, Inc. (United States), Innegra Technologies, LLC (United States), STRUCTeam Ltd. (United Kingdom) and QUANTUMETA (China). Analyst at AMA Research see United States Manufacturers to retain maximum share of Global Energy Sector Composite market by 2030. Considering Market by Fibre, the sub-segment i.e. Glass Fibre (GFRP) Composites will boost the Energy Sector Composite market.
Latest Market Insights:
In October 2023, NextEra Energy, Inc. (NEE) and Duke Energy Corporation (DUK) announced a joint venture to develop and operate a 600-mile offshore wind transmission line in the Carolinas. This project is expected to support the development of up to 9.4 gigawatts of offshore wind energy.
In October 2023, Schneider Electric (SE) launched a new line of smart home energy management products, including smart thermostats, lighting controls, and EV chargers. These products are designed to help homeowners save energy and manage their energy costs.
“According to the Composites UK Trade Association, the use of fibre-reinforced polymers (FRPs) in wind turbines is an important technical element. Components must exhibit excellent fatigue strength, resist random loading and corrosion, require minimal maintenance and serve for 30+ years.”
What Can be Explored with the Energy Sector Composite Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Energy Sector Composite Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Energy Sector Composite
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Energy Sector Composite market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Energy Sector Composite market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Energy Sector Composite Providers, Suppliers and Distributors, Potential Investors, Raw Material Suppliers, Associations, Government, End-Use Industries and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.