Wind Turbine Composites Market In-Depth Analysis and Marketing Strategies by 2026 | Keyplayers - Toray Industries, Cytec Industries Inc., Royal TenCate nv, Gurit Holding AG

Wind Turbine Composites Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. The major drivers are a shift towards renewable sources of energy in developed markets of Europe and North America. The increased lifespan and low operating expenditures have enabled it to be used in offshore wind energy installations as well. The major challenges are the high cost of composites and issue of reuse and recyclability of composite materials.

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𝐖𝐢𝐧𝐝 𝐓𝐮𝐫𝐛𝐢𝐧𝐞 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤
Asia Pacific is the fastest growing region in the wind turbine composites market. According to the Global Wind Energy Council, China alone has installed 23.4 GW of new capacity. The growing market in China is a result of a vision to become energy dependent and sustainable. However, China is highly dependent on hydrocarbon imports from Middle East countries. Also, concerns regarding air quality due to coal emissions has led to the shift towards the use of renewable energy.
Europe saw an increase of 1,558 MW of offshore wind installations. Germany and U.K are the major players in the European wind energy market. Strict regulation regarding emissions and carbon footprint has resulted in increased renewable energy development. In 2016, wind energy crossed coal to become the second largest power generator after natural gas.

𝐊𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐰𝐢𝐧𝐝 𝐜𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭:
Toray Industries, Cytec Industries Inc., Royal TenCate nv, Gurit Holding AG, Hexel Corporation, and Teijin Limited, TPI Composites, Inc., Gamesa Corporation Technology, Vestas Wind Systems A/S, and Suzlon Energy Limited

𝐖𝐢𝐧𝐝 𝐓𝐮𝐫𝐛𝐢𝐧𝐞 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐚𝐱𝐨𝐧𝐨𝐦𝐲

𝐎𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐟𝐢𝐛𝐞𝐫, 𝐭𝐡𝐞 𝐰𝐢𝐧𝐝 𝐭𝐮𝐫𝐛𝐢𝐧𝐞 𝐜𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐚𝐬-
Glass Fiber
Carbon Fiber
Others

𝐎𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐫𝐞𝐬𝐢𝐧 𝐭𝐲𝐩𝐞, 𝐭𝐡𝐞 𝐰𝐢𝐧𝐝 𝐭𝐮𝐫𝐛𝐢𝐧𝐞 𝐜𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐚𝐬-
Epoxy resin
Polyester resin
Vinylester
Polyurethane
Polyamide
Others

𝐎𝐧 𝐭𝐡𝐞 𝐛𝐚𝐬𝐢𝐬 𝐨𝐟 𝐦𝐚𝐧𝐮𝐟𝐚𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐩𝐫𝐨𝐜𝐞𝐬𝐬, 𝐭𝐡𝐞 𝐰𝐢𝐧𝐝 𝐭𝐮𝐫𝐛𝐢𝐧𝐞 𝐜𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐚𝐬-
Pre-preg
Vacuum Assisted Resin Transfer Molding (VARTM)
Hand Lay-up

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𝐖𝐢𝐧𝐝 𝐓𝐮𝐫𝐛𝐢𝐧𝐞 𝐂𝐨𝐦𝐩𝐨𝐬𝐢𝐭𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐊𝐞𝐲 𝐝𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭𝐬
➤In October 2018, Gurit acquired JSB Group a/S with the objective of enhancing their offerings associated with wind energy. The expertise of JSB group would be helpful in offering material kits for wind turbine blades with manufacturing facilities in different regions of the world. JSB's business operations will be formulated as another business unit under Gurit with no changes in the brand name.

➤In March 2018, Toray Industries, Inc. acquired Koninklijke Ten Cate bv's subsidiary "TenCate Advanced Composites Holding B.V." This acquisition would be helpful in gaining benefits from their expertise in the manufacturing of thermoplastics and thermoset prepreg. This acquisition help in expansion of technological and product capabilities of TORAY in combination with TenCate.

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Primary Research (Trade Surveys and Experts Interviews)
Desk Research
Proprietor Data Analytics Model

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