Wind Turbine Composite Materials Market Scope
Wind Turbine Composite Materials such as fiberglass and carbon fiber, are used as reinforcing materials in several wind applications. Their high strength and stiffness characteristics combined with their low weight and design flexibility make them perfect materials for turbines. Increasing concern in the world about the supply and consumption of energy in a modern and civilized society. Companies are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
Key Companies Profiled | Cytec Industries (United States), Vestas (Denmark), LM Wind Power (Denmark), Teijin Limited (Japan), GE Renewable Energy (France), Gurit Holding AG (Switzerland), Gamesa Corporation Technology (Spain), Toray Industries (Japan), Goldwind (China), SIEMENS GAMESA RENEWABLE ENERGY (Germany), TPI Composites (United States) and Royal Tencate NV (United States) |
CAGR | % |
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period
Cytec Industries (United States), Vestas (Denmark), LM Wind Power (Denmark), Teijin Limited (Japan), GE Renewable Energy (France), Gurit Holding AG (Switzerland), Gamesa Corporation Technology (Spain), Toray Industries (Japan), Goldwind (China), SIEMENS GAMESA RENEWABLE ENERGY (Germany), TPI Composites (United States) and Royal Tencate NV (United States) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Wind Turbine Composite Materials market by Type , by Application (Blades and Nacelles) and Region with country level break-up.
On the basis of geography, the market of Wind Turbine Composite Materials has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2021.
On 7th Sep 2021, Siemens Gamesa pioneers wind circularity launch of world’s first recyclable wind turbine blade for commercial use offshore. The RecyclableBlade is another tangible example of how Siemens Gamesa is leading technological development in the wind industry,” states Andreas Nauen, CEO of Siemens Gamesa.
Influencing Trend:
Increasing Lighter Wait materials in Wind Turbine Composite Material and Rise in Usage of Green Polymer Based Composite Materials
Market Growth Drivers:
Increasing Focus on the Short-time Stored Energy Resources and Rising Usage of Carbon Fiber in Wind Blades
Challenges:
The Most Challenging Materials, Design, and Engineering Problems
Restraints:
Open Mold Technology are High Labor Costs
Opportunities:
Increase in the Production of Wind Turbines and its Components by The Key Players and Growing New Number of Investors in Wind Turbine Composite Material in Emerging Countries
Key Target Audience
Wind Turbine Composite Materials Manufacture, Government/Regulatory Bodies, Potential Investors, New Entrants, Research and Development Institutes and Others