Wind Turbine Composite Materials Market To Witness A Pronounce Growth During 2016 To 2023 | TMR

Global Wind Turbine Composite Materials Market

Growing concerns about greenhouse emissions have led to the increasing demand for clean and sustainable power sources. Wind energy is ideal for environment-friendly power generation. Lightweight composite materials help to harness wind energy with high efficiency. As a result, the demand for wind turbine composite materials is rising. The global wind industry is shifting toward larger turbines with longer blades, as larger blades are capable of producing higher amount of energy at low costs. Composite materials offer higher reliability and stability. Hence, these are of great importance in the manufacturing of parts of wind turbine, especially rotor blades.

Fibers such as carbon fiber and glass fiber are majorly used in the global wind turbine composite materials market. Glass fibers are high in demand in turbine manufacturing. The most commonly used resins available in the market are polyester, epoxy, vinyl ester, polyurethane, and others. Wind turbine composite materials are used to manufacture hub, nacelle, rotor blade, and towers. Rotor blades are the most important component of a wind turbine. Properties of rotor blades determine the lifetime and performance of a turbine. In fact, rotor blades are the most expensive part of a wind turbine. Rotor blades constitutes the largest application segment of the global wind turbine composite materials market. The technology to manufacture rotor blades has evolved significantly in the last 20 years. Focus has been shifted to reduce cycle time, thereby lowering cost and probability of defects. New wind turbine composite materials are being studied to generate cost-effective wind energy.

For More Industrial Insights Get PDF Brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=11177

Global Wind Turbine Composite Materials Market: Overview

Increased demand from the wind energy sector has propelled the growth of the global wind turbine composite materials market. Various environmental regulations and government initiatives to boost the usage of wind energy are expected to further augment the growth of the market. Composite materials perform better than conventional materials such as steel and aluminum, as they possess properties such as high strength-to-weight ratio, corrosion resistance, long lifecycle, and lower maintenance. All these factors are likely to propel the demand for wind turbine composite materials.

High cost of these materials is estimated to negatively affect the market’s growth. The rising cost of carbon fiber is also likely to challenge the growth of the market during the forecast period. The overall market has high scope to expand, led by the extensive research and development activities being carried out by market players to introduce various composite materials with advanced properties.

Global Wind Turbine Composite Materials Market: Region-wise Outlook

The global wind turbine composite materials market has been segmented into four key regions: Europe, North America, Asia Pacific, and Rest of the World. The rising awareness about alternative sources of energy, new product launches, and growth of installed wind power size in India and China have augmented the wind turbine composite materials market in Asia Pacific. In fact, the region is anticipated to drive the demand for wind turbine composite materials during the period between 2016 and 2024. North America and Europe are projected to follow the Asia Pacific market. The wind turbine composite materials market in Rest of the World is small; however, it is expected to generate significant demand in the near future.

For More Industrial Insights Get Customized Report:
https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=11177

Key players in the global wind turbine composite materials market include Toray Industries, Teijin Limited, Cytec Industries, Gurit Holding AG, Royal Tencate NV, and TPI Composites. The key players are focusing on emerging economies, where rapid industrialization has led to increased demand for alternative sources of energy.

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

Contact

Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com

This release was published on openPR.