Wind power coatings have been formulated for blades, towers, bolts, and magnets. Most coatings are for blades because they are constantly moving in the air and exposed to the weather.
The global wind power coatings market is expected to be valued at US$ 1.2 Billion in 2022. The overall demand for wind power coatings is projected to grow at a CAGR of 10.1% between 2022 and 2032, totaling around US$ 3.14 Billion by 2032.
With the rising demand for energy owing to rapid urbanization and industrialization across the globe, coupled with surging environmental concerns associated with conventional methods of energy generation.
Installation of wind power plants is growing at a significant pace. Rising environmental concerns associated with conventional power production methods are accelerating the demand for clean energy. According to GWEC, about 60.8 GW capacity of wind power was installed across the globe in 2019 which expanded to around 93 GW in 2020.
This new installation rate is expected to grow and around 112.2 GW capacity is expected to be installed by 2025. With the robust rise in the number of turbines across the globe demand for wind power coatings are expected to grow in tandem with an increasing focus on the maintenance of wind turbines.
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Wind blade protective coatings are essential for ensuring the longevity and performance of wind turbines. These coatings are designed to protect the blades from weathering, erosion, and other environmental factors that can cause damage. They can also improve aerodynamics and reduce maintenance costs.
Different types of coatings are available, including polyurethane, epoxy, and silicone, each with its unique benefits and limitations. The erosion and corrosion of wind towers & blades and harsh environmental conditions encountered at sea & on land are expected to drive the wind power coatings market.
Moreover, the growing demand for wind power is expected to fuel the growth of the Wind Power Coatings Market during the forecast period. In addition, the rising construction of wind power plants and the increasing concerns of corrosion in onshore & offshore applications are anticipated to boost the market demand during the analysis period.
Key Takeaways from the Market Study
The rising construction of wind power plants and the increasing concerns of corrosion in onshore & offshore applications are anticipated to induce the demand for the Wind Power Coatings market, remarks an FMI analyst.
Competitive Landscape
Players in the global Wind Power Coatings Market focus on expanding their global reach through various strategies, such as; partnerships, collaborations, and partnerships. The players are also making a significant investment in R&D to add innovations to their products which would help them in strengthening their position in the global market.
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Key Companies Profiled:
Some of the recent developments among the key players are:
Key Segments Covered In The Wind Power Coatings Industry Analysis
Wind Power Coatings Market by Type:
Wind Power Coatings Market by Coating Method:
Wind Power Coatings Market by Application:
Wind Power Coatings Market by Utilization:
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Know More About What the Wind Power Coatings Market Report Covers
Future Market Insights offers an unbiased analysis of the global Wind Power Coatings Market, providing historical data for 2017-2021 and forecast statistics from 2022-2032. To understand opportunities in the Wind Power Coatings Market, the market is segmented on the basis of type, coating method, application, and utilization across six major regions.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 08, 2023