Global Wind Turbine Composite Materials Market Size, Share, Development, Growth and Demand

Composite material are the materials that are made of two or more materials with different chemical and physical properties. These materials when combined produce a different material with properties different from the individual materials. Several composite materials are being used in wind turbine industry. Glass fiber and carbon fiber are the two most widely used composite materials in the global wind turbine composite market. These materials have their usage mostly in making the structural components of the turbine blades, nacelle and the spar. These materials provide several benefits, such as increased life of objects, higher flexibility and stability, and lower maintenance. In addition, some resins such as vinyl ester, epoxy, polyurethane, polyester and many more are also used in wind energy market.

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The global wind turbine composite materials market was valued at $3,970.4 million in 2015, and it is expected to grow at a CAGR of 7.8% during 2016 - 2022. The increased government support for wind power projects and stringent environmental regulations, increasing need for energy independence and geopolitical energy security, and increasing wind power capacity across the globe is driving the growth of the global wind turbine composite materials market.

The increased demand for wind energy plays a pivotal role in the expansion of the wind turbine composite materials market. The composite materials are being used for manufacturing larger rotor blades to increase wind turbine output. Moreover, the advantage of longer life cycle, high strength-to-weight ratio, corrosion resistance and low maintenance, compared to other conventional materials, such as steel and aluminum is giving composite materials an edge over other materials. Various governmental norms that encourage the use of wind energy are expected to further boost the growth of the wind turbine composite material market.

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GLOBAL WIND TURBINE COMPOSITE MATERIALS MARKET

By Type – Fiber (Glass Fiber, Carbon Fiber and Others), Resin (Epoxy, Polyester, Polyurethane, Vinyl Ester and Others), and Others.
By Application – Wind Blade, Nacelle and Others.
By Region – North America, Europe, Asia-Pacific, Latin America and Middle East and Africa.

GLOBAL WIND TURBINE COMPOSITE MATERIALS MARKET, BY GEOGRAPHY
North America Wind Turbine Composite Materials Market

By Country – The U.S. and Canada
By Type
By Application

Europe Wind Turbine Composite Materials Market

By Country – Germany, Spain, the U.K. and Rest of Europe
By Type
By Application

Asia-Pacific Wind Turbine Composite Materials Market
By Country – China, India, Australia, Japan, and Rest of Asia-Pacific
By Type
By Application


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