Increasing demand of lightweight materials with efficient properties had been driving the growth of composite materials in wind energy market. Composite materials consumption in wind energy market is forecasted to reach US $4.3 billion by 2018 with a high growth rate over the next five years. Growth in new installation of wind turbines and increasing size of blades will lead to increased demand for composite materials as there is huge demand for lightweight and efficient products.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on this market and presents its findings in “Growth Opportunities for Composite Materials in Global Wind Energy Market 2013‒2018: Materials, Market and Technology.” The report includes analysis of the wind energy market in each region, wind blade market, and composite materials consumption in wind energy market. It also gives insights of emerging trends, unmet needs, and growth opportunities in those markets.
The growing wind energy market has been a key driver for the growth of composite materials market. As there is a positive growth prospect in the wind market, it is likely to support the positive growth of composite materials in this market. The future of this market looks promising due to several economic and environmental factors and strong growth of wind energy market. Advantage of corrosion resistance, high strength-to-weight ratio, low maintenance, and a longer lifecycle as compared to other traditional materials such as aluminium and steel is giving composites an edge over other materials. Nevertheless, high cost continues to be a limiting factor for developing new applications.
Asia Pacific has been the top continent in terms of total composite consumption followed by North America and Europe. The Rest of the World (ROW) saw the highest growth rate due to rapidly increasing demand in the region.
This in-depth Lucintel’s study is designed and intended for use by new entrants, manufacturers, material suppliers, component or structure fabricators, OEMs, investors, executives and consultants focused on the wind energy industry. The data and analysis found in this report can be utilized for a variety of functional business reasons including business development, strategic planning, business presentations determination of market size and trends, competitive analysis, investment decision, and joint product development.
The growing wind energy market has been a key driver for the growth of composite materials market. As there is a positive growth prospect in the wind market, it is likely to support the positive growth of composite materials in this market. The future of this market looks promising due to several economic and environmental factors and strong growth of wind energy market. Advantage of corrosion resistance, high strength-to-weight ratio, low maintenance, and a longer lifecycle as compared to other traditional materials such as aluminium and steel is giving composites an edge over other materials. Nevertheless, high cost continues to be a limiting factor for developing new applications.
Asia Pacific has been the top continent in terms of total composite consumption followed by North America and Europe. The Rest of the World (ROW) saw the highest growth rate due to rapidly increasing demand in the region.
This in-depth Lucintel’s study is designed and intended for use by new entrants, manufacturers, material suppliers, component or structure fabricators, OEMs, investors, executives and consultants focused on the wind energy industry. The data and analysis found in this report can be utilized for a variety of functional business reasons including business development, strategic planning, business presentations determination of market size and trends, competitive analysis, investment decision, and joint product development.