Composite Materials in Renewable Energy Market 2019 Industry Growth, Share, Trends, Demand, Analysis and Forecast to 2025

Market Overview

Composite materials are the materials engineered from two or more constituent materials that are combined to create a material that is chemically and physically different from their individual components. The use of composite materials in renewable energy market will play a vital role in the manufacturing of structures that will enable the harnessing of sustainable energy sources. The modern composite materials used these days have an advantage that they are light as well as strong. Composites also provide the design flexibility where these materials can be moulded into complex shapes. 

The increase in the climatic changes happening around the world is forcing the global market to switch to the use of renewable energy. The United Nations Climate Change Conference at Paris was a major achievement bringing about a global agreement between 55 countries to reduce the effect of climate change by limiting global warming to less than 2-degree Celsius to accomplish the main goal of zero greenhouse gas emissions between 2030 and 2050. This has resulted in the escalation and expansion of the companies to use composite materials in renewable energy market. 

Hence, the use of composites in renewable energy will prove to be a positive step towards protecting the environment and promoting the use of renewable energy to reduce global warming. The global composite materials in renewable energy market report analyses the attention of the key companies towards providing creative and innovative ideas and ways to use composite materials in the generation of renewable energy. The report also points towards the use of eco-friendly techniques adopted by the key players in the composite materials market. 

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Global Market Key Players :
Mitsubishi Rayon
Teijin
Toray Industries
Hexcel
Solvay
Evonik Industries
Honeywell
DSM
Ten Cate
SGL Group
Nippon Carbon
3A Composites
Waco Composites
Armacell International
Barrday Corporation
MKU Limited
Morgan Advanced Materials
Changzhou Tiansheng New Materials

 Market Segmentation

The composite materials in renewable energy market can be segmented based on the type of composite materials used like Fiber-Reinforced Polymers (FRP), Carbon-Fiber-Reinforced Polymers (CFRP), Glass-Reinforced Plastic (GRP) and such others. CFRP is resistant to heat and used in aerospace, automotive, civil engineering and in an increasing number of technical and consumer applications. And on the basis of applications of composite materials, it can be categorized into Wind Power, Solar Power, Hydroelectricity and such others. The lightweight airfoil shape of blades for wind turbines has made composite materials a leader in the use of these materials for the production of Wind Power.

 
Regional Overview

The composite materials in renewable energy market is flourishing, which in turn is leading to the rise in the composite materials sector. Countries like China, India, Japan and regions like Southeast Asia, Europe, and North America are the emerging global leaders in the business of providing composite materials in renewable energy. Factors such as the reduced weight compared to metallic structures, lower transportation and erection cost and lower maintenance costs have already positioned composites as a de facto material in enabling feasible solutions in the global market of renewable energy. The research and developments in the field of solar power, wind power, biofuels, and hydroelectricity has made the use of composite materials in renewable energy market more crucial. 

Industry News

In a recently announced project by a group of European wind and chemical industry partners, the decommissioned wind turbine blades will include the use of recycled glass fiber composites for cement manufacturing, replacing the raw material and saving energy. In another report, German scientists have created PLA (Polylactic acid) as an alternative for carbon fiber composites.

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