Wind Turbine Composites Material Market : Global Analysis By Key Players – Teijin Limited, Toray Industries, Gurit Holding AG, Cytec Industries, TPI Composites and Royal Tencate NV.

Global Wind Turbine Composites Material Market Overview:

The growing concern over greenhouse gas emissions has led to a growing demand for clean and sustainable sources of energy. Wind energy is ideal for generating energy that is environmentally friendly. Lightweight composites help harness wind energy with great efficiency. As a result, the demand for wind composites is increasing. The global wind industry is moving towards larger turbines with longer blades, as the larger blades can produce more energy at a lower cost. Composite materials offer greater reliability and stability. Therefore, these are of great importance in the manufacture of some parts of the wind turbine, especially the rotor blades. Fibers such as carbon fiber and fiberglass are mainly used in the global market for wind turbine composites. Glass fibers are in great demand in the manufacture of turbines. The most widely used resins on the market are polyester, epoxy, vinyl ester, polyurethane and others. The composite materials of wind turbines are used to make buckets, nacelles, rotor blades and towers. The rotor blades are the most important component of a wind turbine. The properties of the rotor blades determine the life and performance of a turbine. In fact, rotor blades are the most expensive part of a wind turbine. Rotor blades are the largest application segment in the global wind turbine composites market. Rotor blade manufacturing technology has evolved considerably over the last 20 years. The approach has been modified to reduce cycle time, decreasing the cost and likelihood of defects. New composites of wind turbines are being studied to generate profitable wind energy.

Global Wind Turbine Composites Material Market Size:

According to Research Cosmos, The Global Wind Turbine Composites Material Market is projected to reach USD 12.07 Billion by 2021 growing at a significant CAGR of 9.01% during 2016 to 2021.

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Drivers and Restraints:

Increasing demand in the wind energy sector has led to growth in the global market for wind turbine composites. Several environmental regulations and government initiatives to increase the use of wind energy will continue to promote the market growth. Composite materials work better than conventional materials such as steel and aluminum because they have properties such as high strength-to-weight ratio, corrosion resistance, long life cycle, and reduced maintenance. All of these factors are likely to stimulate demand for wind turbine composites. It is estimated that the high cost of these materials negatively affects market growth. Increasing cost of carbon fiber can also jeopardize market growth over the forecast period. The market in general has a great deal of scope to develop, thanks to research and development activities carried out by market agents to introduce various composite materials with advanced properties.

Geographic Insights:

The global market for wind turbine composites has been segmented into regions such as Europe, North America, Asia-Pacific, Latin America, and Middle East and Africa. The growing awareness of alternative energy sources, the launch of new products and the growth in the size of installed wind energy in India and China have increased the composite materials market for wind turbines in Asia-Pacific. North America and Europe are anticipated to follow the Asia-Pacific market. The market in Rest of the World is small, however, it is expected to generate significant demand in the near future.

Key Players:

Teijin Limited, Toray Industries, Gurit Holding AG, Cytec Industries, TPI Composites and Royal Tencate NV are the major players of the market.

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Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

About Us:

Research Cosmos is a provider of standard and customized market research, business intelligence and consulting services across more than 100 domains in different industries of the world. We host the trending market reports of the world’s top-notch publishing companies, offering services to a wide range of customers from students to fortune 500 companies and discloses the hidden opportunities in every leading industry of the world.

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