Report Code: A09676 | Pages: NA | ||
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Wind Turbine Composite Material Market Analysis
Wind turbine composite material is a lightweight materials that helps to harness wind energy with high efficiency. Fibers such as carbon fiber and glass fiber are majorly used in the wind turbine composites. These composites play a key role in the manufacturing of essential parts of a wind turbine such as rotor blades. The wind turbine composite materials offer higher stability, reliability, and increased shelf life of the objects. Glass fiber is the largest consumed composite material in the wind turbine manufacturing. The most commonly used resins in the market are polyester, epoxy, vinyl ester, and polyurethane.
COVID-19 scenario analysis
Among the different industries, the power sector is severely affected due to the outbreak of the COVID-19 pandemic across the globe.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The wind turbine composite material market is expected to grow at a significant rate, due to increase in demand from the wind energy sector. Various other government initiatives and environmental regulationstoward usage of clean energy are expected to boost the usage of wind energy and eventually work in favor of the global wind turbine composite material market.
Moreover, these composite materials perform better as compared to conventional materials such as aluminum or steel,as they possess high better corrosion resistance, have long lifecycle, require lower maintenance, and exhibit superior strength-to-weight ratio. Thus, all these factors collectively are expected to propel the demand for wind turbine composite materials in the global market.
However, high cost of these materials is expected to negatively impact the market growth. On the contrary, implementation of stringent regulations to reduce the dependency on petroleum-based fuels and raise the production of renewable energyis anticipated to offerlucrative opportunities for the expansion of the global wind turbine composite material market during the forecast period.
Countries such asIndia and China in the Asia-Pacific region are anticipated to drive the growth of the wind turbine composite material market, due to rise in awareness about the alternative sources of energy. In Latin America and the Middle East, the market is still at its nascent stage; however, many nations of these regions are implementing regulations to reduce their dependency on conventional fuels and increase the production of renewable energy.
Key benefits of the report
Questions answered in the globalwind turbine composite material market research report:
Wind Turbine Composite Material Market Report Highlights
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Key Market Players | Unifrax, DowDuPont Inc., Mitsubishi Rayon, Composites One LLC, Grisley, SGL Group, Owens Corning, Teijin, 3B-the fibreglass company, STR Industries |
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