Wind Turbine Composites Market Size & Trends During Forecast Period 2019 To 2023

By Author: Nikhil khadilkar
Total Articles: 431
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Wind Turbine Composites are used for manufacturing blades, and other parts of the component to offer significant properties such as excellent flexibility, strength, and durable nature to the finished material. Moreover, they also provide versatility and reliability to the product. The Global Wind Turbine Composites Market has been driven by the range of its application in various sectors such as blades, nacelles, hub, tower, and others. Moreover, it is estimated that the blades segment is set to witness the highest growth in the market due to the growing consumption of composite materials in the wind energy sector over the forecast period.

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As per our Analysis, the Global Wind Turbine Composites Market is bifurcated into the fiber type, resin, process and application. The market by fiber type is further divided into glass, carbon and other segments. Among these, the glass segment holds a major portion of the market on account of its growing use in home furnishing fabrics, clothing, garments, and others. This segment provides exceptionally ...
... chemical resistance, good strength and stiffness to the final product. Epoxy, polyester, vinyl ester, polyurethane, and other segments are segregated on the basis of resin.

Key Players:

Some of the prominent players operating in the Global Wind Turbine Composites Market are LM Wind Power (Denmark),AVIC Huiteng Windpower Equipment Co Ltd ( China), Vestas (Denmark), Gamesa Corporation Technology (U.S.), TPI Composites (U.S.), Suzlon Energy Limited (India), AREVA (France), Siemens AG (Germany), Lianyungang Zhongfu Lianzhong Composites Group Co.,Ltd (China), and Molded Fiber Glass Companies (U.S.) among others.

Regional Analysis:

The Wind Turbine Composites Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing adoption of lightweight materials in wind turbine installation systems. The glass fiber segment holds the major portion and is anticipated to continue its dominance in the market due to increasing adoption of lightweight materials in the industry. Therefore, countries such as China, Japan and India are the major players in this market.

The North America region is growing significantly due to the increased consumption of low-density materials in generator, housing for the gearbox, and others. It is predicted that growing investments in the end-use industries is likely to drive the market in the region during the forecast period. The growing consumption of composites in major industries has propelled countries such as the U.S, Canada and Mexico to achieve a stunning growth in the market as they provide excellent flexibility, stability and low maintenance to the product.

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European market has also observed a remarkable growth due to implementation of new rules and regulations proposed by the government to follow renewable energy sources in the industry. The market has been driven by the application of this rule in nacelle, tower and base segments. It is estimated that the growing innovation and technological advancement are predicted to propel the growth in countries such as the U.K, Italy, Germany, and France during the forecast period.

Segmental Analysis:

The Global Wind Turbine Composites Market is segmented into the fiber type, resin process and application. Based on the fiber type, the market is further categorized into glass, and carbon segments.

Epoxy, polyester, vinyl ester, polyurethane, and other segments are classified based on resin segment. Among these, the epoxy resin segment is set to drive the market on account of its growing consumption in wind turbine blades.

Moreover, the growing demand of flexible materials in blades, tower and others is set to drive the wind power segment as they provide unique mechanical strength and flexible nature to the product. Therefore, the enhanced physical properties, durability and reliable nature are the major reasons behind the consumption of composites in most of the heavy end-use industries. Blades, nacelles, hub, tower, and others are classified based on application segment.

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