Jul 16, 2021   SOURCE: BusinessWire

Global Wind Turbine Composite Materials Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com

The "Wind Turbine Composite Materials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The global wind turbine composite materials market is expected to grow at a CAGR greater than 7% during the forecast period.

Companies Mentioned

  • Exel Composites
  • Gurit Holding AG
  • Hexcel Corporation
  • Reliance Industries Limited
  • Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd
  • Molded Fiber Glass Companies
  • Siemens AG
  • Teijin Limited
  • Toray Industries, Inc.
  • TPI Corporation
  • Vestas

Key Market Trends

Wind Blades to Dominate the Market

  • In wind turbines, composites are majorly used in the production of wind turbine blades. Wind turbine blades serve as the most important composite based part of the turbine.
  • The rising demand for wind energy is leading to the construction of larger wind blades that offer higher power output, which is, in turn, resulting in the increased consumption of composite materials for blades
  • With the development of floating wind turbines, the offshore opportunities for wind energy has increased due to comparatively lesser cost and easy installation.
  • This is projected to lead to the increase in the production of wind turbines and its components made of composites, which is likely to positively influence the wind turbine composite materials market.
  • Hence, owing to the above-mentioned factors, application in wind turbines is expected to dominate the market during the forecast period.

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to lead the market for wind turbine composite materials owing to the increasing wind energy infrastructure in the region.
  • China accounts for the largest share of the global wind installed capacity. Moreover, the country announced its plan to invest about USD 360 billion on renewable energy by 2020, turning down the plan to build 85 coal-fired power plants, which is expected to increase the wind energy installations in the country in the coming years, further leading to increase in the production of wind turbines.
  • India has the fourth largest installed capacity in wind power currently and is expected to increase its wind power capacity in the coming years which is expected to drive the market studied.
  • Hence, owing to the above-mentioned factors, Asia-Pacific is likely to dominate the market studied during the forecast period.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Application of Carbon Fiber in Wind Blades
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Recyclability Issue of Composites
4.2.2 Other Restraints
4.3 Industry Value-chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION
5.1 Fiber Type
5.2 Technology
5.3 Application
5.4 Geography

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Offshore Wind Energy Installations

For more information about this report visit https://www.researchandmarkets.com/r/wtoco9