Global Wind Turbine Composites Material Market Forecast to 2020 with Industry Trends

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The wind turbine composite material market is expected to grow at a CAGR of 7-8% from 2015 to 2020 to worth $5.5 billion by 2020.

This study of the composite market for wind turbine estimates its global demand and market value from 2015 to 2020. As a part of the quantitative analysis, the study segments the global market by types and applications at country level with current market estimation and forecast till 2020. The major countries covered in the report are the U.S., Canada, U.K., Germany, China, Spain, France, India, Brazil etc. The segmentation by fiber type includes glass fiber composite, carbon fiber composite, and other composites; while on the basis of type of resin used, the segmentation includes Epoxy, Polyester, Polyurethane, Vinyl Ester, etc. The segmentation by application includes exterior and interior components.

The companies profiled in wind turbine composite material market report are Cytec Industries, Gurit Holding AG, Royal Tencate NV, Teijin Limited, Toray Industries and key composite wind turbine/components manufacturers companies like HT Blade, Molded Fiber Glass Companies, TPI Composites, Vestas Wind Systems A/S, Gamesa, and LM Wind Power Group.

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Composites have found wide acceptance in various industries including wind because of their light weight and environmental resistance characteristics. On the basis of application, the market of wind composite is broadly segmented into interior and exterior components.

Glass fiber composite is the biggest composite material used in wind turbine driven by its high demand for manufacturing wind turbine blades. Carbon fiber composite finds its usage mostly in the spar and structural element of wind blades, whereas its usage in longer blades is limited primarily because of its high cost. Carbon fiber composite is projected to grow at a healthy rate during the projected period.

Currently, penetration of composite is increasing in longest wind turbine blades and this trend can be seen being extended to mid to small blades as well. The design flexibility offered by composites is pushing the market of wind composite in different wind applications. Technological developments & innovations and expansions are identified as key strategies to expand the composite market in wind turbines.

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