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Global Wind Turbine Composite Materials Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023

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  • Free Analysis
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Report Summary

The global Wind Turbine Composite materials market is expected to increase from USD 6,778.2 million in 2016, to USD 12,746.8 million in 2023, at a CAGR of 9.4% from 2017 to 2023. The overall demand of wind turbine composite material have increased in recent years, mainly due to the investment in wind turbine projects across the globe. Moreover, the superior quality wind turbine parts are in high demand due to their ability to forbear severe weather conditions. The years used for the assessment are as follows;

  • Historical year   : 2013-2015
  • Base year            : 2016
  • Forecast period : 2017 – 2023

RESEARCH METHODOLOGY

The research and analysis is based on data and information obtained from various primary and secondary sources. The data obtained is validated by interacting with the companies of the concerned domain. The steps involved in the research methodology are:

  • Obtaining historical data of the market based on news, articles, publications, annual reports, white papers, and other secondary sources
  • Interacting with key opinion leaders of the market and developing data points based on interaction with them
  • Study of past trends in the market and their year on year Impact on the market size and share
  • Analyzing the collected data points
  • Bridging the data points to calculate the total wind turbine composite materials market and it various segments
  • Anticipating potential risks
  • Analyzing market forces such as drivers, restraints, and opportunities to assess new growth areas for the wind turbine composite materials market
  • Finalizing the overall size and share for the global wind turbine composite materials market

OBJECTIVES:

  • To provide historical, current, and future forecast of the market size in terms of revenue and volume
  • To classify and forecast the growth prospect of the global wind turbine composite materials market on the basis of products, application and region
  • To identify and analyze opportunities for stakeholders in the wind turbine composite materials market
  • To forecast the impact of trends, opportunities, drivers and restraints on the global wind turbine composite materials market
  • To study value chain analysis on the supply as well as the demand side
  • To understand major policy changes and regulations impacting global wind turbine composite materials market
  • To identify and analyze opportunities for new entrant in the wind turbine composite materials market
  •  To profile key companies operating in the wind turbine composite materials market and provide their competitive landscape
  • To study market response with respect to the mergers and acquisitions in the industry

MARKET SCOPE

The research scope for global wind turbine composite materials market is as follows:

By Type

  • Glass Fiber
  • Carbon Fiber
  • Others

By Application

  • Wind Blade
  • Nacelle
  • Tower
  • Base
  • Others

By Manufacturing Process

  • Resin Infusion Technology
  • Prepreg
  • Hand Lay-up
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Middle East and Africa (MEA)
  • Rest of the World (RoW)

Free Analysis

The global wind turbine Composite Material Market is expected to grow at a CAGR of 9.4% during the forecast period. The major factor propelling the growth of wind turbine composite material market are increasing environment concern related to the burning of fossil fuels to generate power. Further, the technological advancement in turbine blade design coupled with the increasing capacity of wind farms drives the growth of wind turbine composite material market. Additionally, the increase in demand of lighter, stiffer and large blades would bring the business to wind turbine composite material market.

Wind turbine composite material forms an essential component of wind turbine for the manufacture of wind turbine rotor blade. Composite material is made up of fiber and matrix. The fiber provides physical strength and distributes loads in composite. The matrix material act binder. The matrix  binds and maintains the spacing of the fiber material protecting the fiber from abrasion and environmental damage. The composite material manufactured from reinforcement of fiber and matrix is far superior from conventional metals such as steel and aluminum.

The wind turbine composite material market is segmented on the basis of type, application and manufacturing process. Based on application, blades is the leading segment of wind turbine composite material market in 2016. Blades are one of the largest parts of the wind turbine thus consumes a large amount of composite material. Moreover, the composite material provides better mechanical strengths to the blades as compared to steel and aluminum blades. Based on type, glass fiber is the major selling composite material. Glass fiber being less costly than carbon fiber is preferred when project cost is taken under consideration.

Geographically, the wind turbine composite material market is segmented into North America, Europe, Asia-Pacific and Middle East and Africa and Rest of the world. Asia-Pacific dominates the wind turbine market and is expected to continue its dominance during the forecast period. The hunt for clean sources of energy and increasing government acceptance to wind farm projects is driving the growth of wind turbine composite material market in the Asia-Pacific region. The reforms in manufacturing sector have made China and India leaders of wind turbine composite material market in Asia-pacific region. The wind turbine composite materials market in North America is expected to grow due to increased government support for wind power projects, several tax benefits offered by the governments of the U.S. and Canada, technological advancement and increasing wind power capacity in the region.

The key players dealing in the wind turbine composite material market are Vestas wind system AS, LM wind power, Cytec solvaty group, Konninklijke ten cate NV, Hexcel corporation, Toray industries inc, Gurit holding AG, Teijin Limited, TPI corporation, Molded fiber glass companies.

Table of Contents

TABLE OF CONTENTS

CHAPTER 1. Market Scope and Methodology
1.1. Market Definition
1.2. Market Segmentation
1.2.1. Market Breakdown, By Type
1.2.2. Market Breakdown, By Application
1.2.3. Market Breakdown , By Manufacturing Process
1.2.4. Market Breakdown, By Region
1.3. Research Methodology
1.4. Executive Summary
CHAPTER 2. Market Outlook
2.1. Introduction
2.2. Value Chain Analysis
2.3. Landscape
2.3.1. Market Share
2.3.2. Opportunities
2.3.2.1. Untapped markets in Middle East and Africa
2.3.2.2. Research and development for low cost advanced composites
2.3.3. Trends
2.3.3.1. Technological advancements in advance composites.
2.3.3.2. Increasing compliance for carbon fiber reinforcement
2.3.4. Growth Drivers
2.3.4.1. Increasing wind power generation capacity
2.3.4.2. Stringent environmental regulations pertaining to emissions from burning conventional fuel
2.3.4.3. Increasing demand of larger blades
2.3.4.4. Increased government support for wind power projects
2.3.5. Impact Analysis of Drivers on Future Forecast of the Market
2.3.6. Restraints of the Market
2.3.6.1. High cost of composite materials
2.3.6.2. Uncertain global economic conditions
2.3.7 Impact Analysis of Restraints on Future Forecast of the Market

CHAPTER 3. Market Entry Strategy
3.1. Regional Regulatory Affairs
3.2. Competitive Analysis
3.3. Investment Analysis
3.4. Recommendation
CHAPTER 4. Global Wind Turbine Composite Material Market Size and Forecast (2013 – 2023)
4.1. Global Wind Turbine Composite Material Market, By Type
4.1.1. Glass Fiber
4.1.2. Carbon Fiber
4.1.3. Others
4.2. Global Wind Turbine Composite Material Market, By Application
4.2.1. Wind Blade
4.2.2. Nacelle
4.2.3. Tower
4.2.4. Base
4.2.5. Others
4.3. Global Wind Turbine Composite Material Market, By Manufacturing
4.3.1. Resin Infusion Technology
4.3.2. Prepreg
4.3.3. Hand Lay-up
4.3.4. Others
4.4. Global Wind Turbine Composite Material Market, By Region
4.4.1. North America
4.4.2. Europe
4.4.3. Middle East and Africa
4.4.4. Rest of the World (RoW)
CHAPTER 5. Global Wind Turbine Composite Material Market, By Geography
5.1. North America Wind Turbine Composite Material Market
5.1.1. North America Wind Turbine Composite Material Market, By Type (MTPA)
5.1.2. North America Wind Turbine Composite Material Market, By Type (USD Million)
5.1.3. North America Wind Turbine Composite Material Market, By Application (MTPA)
5.1.4. North America Wind Turbine Composite Material Market, By Application (USD Million)
5.1.5. North America Wind Turbine Composite Material Market, By Manufacturing Process (MTPA)
5.1.6. North America Wind Turbine Composite Material Market, By Manufacturing Process (USD Million)
5.1.7. North America Wind Turbine Composite Material Market, By Country
5.1.7.1. The U.S.
5.1.7.1.1. U.S. Wind Turbine Composite Material Market Size (MTPA)
5.1.7.1.2. U.S. Wind Turbine Composite Material Market Size (USD Million)
5.1.7.2. Canada
5.1.7.2.1. Canada Wind Turbine Composite Material Market Size (MTPA)
5.1.7.2.2. Canada Wind Turbine Composite Material Market Size (USD Million)
5.1.7.3. Rest of North America
5.1.7.3.1. Rest of North America Wind Turbine Composite Material Market Size (MTPA)
5.1.7.3.2. Rest of North America Wind Turbine Composite Material Market Size (USD Million)
5.2. Europe Wind Turbine Composite Material Market
5.2.1. Europe Wind Turbine Composite Material Market, By Type (MTPA)
5.2.2. Europe Wind Turbine Composite Material Market, By Type (USD Million)
5.2.3. Europe Wind Turbine Composite Material Market, By Application (MTPA)
5.2.4. Europe Wind Turbine Composite Material Market, By Application (USD Million)
5.2.5. Europe Wind Turbine Composite Material Market, By Manufacturing Process (MTPA)
5.2.6. Europe Wind Turbine Composite Material Market, By Manufacturing Process (USD Million)
5.2.7. Europe Wind Turbine Composite Material Market, By Country
5.2.7.1. Germany
5.2.7.1.1. Germany Wind Turbine Composite Material Market Size (MTPA)
5.2.7.1.2. Germany Wind Turbine Composite Material Market Size (USD Million)
5.2.7.2. France
5.2.7.2.1. France Wind Turbine Composite Material Market Size (MTPA)
5.2.7.2.2. France Wind Turbine Composite Material Market Size (USD Million)
5.2.7.3. The UK
5.2.7.3.1. UK Wind Turbine Composite Material Market Size (MTPA)
5.2.7.3.2. UK Wind Turbine Composite Material Market Size (USD Million)
5.2.7.4. Denmark
5.2.7.4.1. Denmark Wind Turbine Composite Material Market Size (MTPA)
5.2.7.4.2. Denamrk Wind Turbine Composite Material Market Size (USD Million)
5.2.7.5. Rest of The Europe
5.2.7.5.1. Rest of The Europe Wind Turbine Composite Material Market Size (MTPA)
5.2.7.5.2. Rest of The Europe Wind Turbine Composite Material Market Size (USD Million)
5.3. Asia-Pacific Wind Turbine Composite Material Market
5.3.1. Asia-Pacific Wind Turbine Composite Material Market, By Type (MTPA)
5.3.2. Asia-Pacific Wind Turbine Composite Material Market, By Type (USD Million)
5.3.3. Asia-Pacific Wind Turbine Composite Material Market, By Application (MTPA)
5.3.4. Asia-Pacific Wind Turbine Composite Material Market, By Application (USD Million)
5.3.5. Asia-Pacific Wind Turbine Composite Material Market, By Manufacturing Process (MTPA)
5.3.6. Asia-Pacific Wind Turbine Composite Material Market, By Manufacturing Process (USD Million)
5.3.7. Asia-Pacific Wind Turbine Composite Material Market, By Region (MTPA)
5.3.8. Asia-Pacific Wind Turbine Composite Material Market, By Region (USD Million)
5.3.9. Asia-Pacific Wind Turbine Composite Material Market, By Country
5.3.9.1. China
5.3.9.1.1. China Wind Turbine Composite Material Market Size (MTPA)
5.3.9.1.2. China Wind Turbine Composite Material Market Size (USD Million)
5.3.9.2. Japan
5.3.9.2.1. Japan Wind Turbine Composite Material Market Size (MTPA)
5.3.9.2.2. Japan Wind Turbine Composite Material Market Size (USD Million)
5.3.9.3. Korea
5.3.9.3.1. Korea Wind Turbine Composite Material Market Size (MTPA)
5.3.9.3.2. Korea Wind Turbine Composite Material Market Size (USD Million)
5.3.9.4. India
5.3.9.4.1. India Wind Turbine Composite Material Market Size (MTPA)
5.3.9.4.2. India Wind Turbine Composite Material Market Size (USD Million)
5.3.9.5. Rest of Asia-Pacific
5.3.9.5.1. Rest of The Asia-Pacific Wind Turbine Composite Material Market Size (MTPA)
5.3.9.5.2. Rest of The Asia-Pacific Wind Turbine Composite Material Market Size (USD Million)
5.4. Middle East and Africa (MEA) Wind Turbine Composite Material Market
5.4.1. Middle East and Africa (MEA) Wind Turbine Composite Material Market, By Type (MTPA)
5.4.2. Middle East and Africa (MEA) Wind Turbine Composite Material Market, By Type (USD Million)
5.4.3. Middle East and Africa (MEA) Wind Turbine Composite Material Market, By Application (MTPA)
5.4.4. Middle East and Africa (MEA) Wind Turbine Composite Material Market, By Application (USD Million)
5.4.5. Middle East and Africa (MEA) Wind Turbine Composite Material Market, By Manufacturing Process (MTPA)
5.4.6. Middle East and Africa (MEA) Wind Turbine Composite Material Market, By Manufacturing Process (USD Million)
5.4.7. Middle East and Africa (MEA) Wind Turbine Composite Material Market, By Region (MTPA)
5.4.8. Middle East and Africa (MEA) Wind Turbine Composite Material Market, By Region (USD Million)
5.4.9. Middle East and Africa (MEA) Wind Turbine Composite Material Market, By Country
5.4.9.1. South Africa
5.4.9.1.1. South Africa Wind Turbine Composite Material Market Size (MTPA)
5.4.9.1.2. South Africa Wind Turbine Composite Material Market Size (USD Million)
5.4.9.2. UAE
5.4.9.2.1. UAE Wind Turbine Composite Material Market Size (MTPA)
5.4.9.2.2. UAE Wind Turbine Composite Material Market Size (USD Million)
5.4.9.3. Rest of MEA
5.4.9.3.1. Rest of MEA Wind Turbine Composite Material Market Size (MTPA)
5.4.9.3.2. Rest of MEA Wind Turbine Composite Material Market Size (USD Million)
5.5. Rest of the World (RoW) Wind Turbine Composite Material Market
5.5.1. Rest of the World (RoW) Wind Turbine Composite Material Market, By Type (MTPA)
5.5.2. Rest of the World (RoW) Wind Turbine Composite Material Market, By Type (USD Million)
5.5.3. Rest of the World (RoW) Wind Turbine Composite Material Market, By Application (MTPA)
5.5.4. Rest of the World (RoW) Wind Turbine Composite Material Market, By Application (USD Million)
5.5.5. Rest of the World (RoW) Wind Turbine Composite Material Market, By Manufacturing Process (MTPA)
5.5.6. Rest of the World (RoW) Wind Turbine Composite Material Market, By Manufacturing Process (USD Million)
5.5.7. Rest of the World (RoW) Wind Turbine Composite Material Market, By Region (MTPA)
5.5.8. Rest of the World (RoW) Wind Turbine Composite Material Market, By Region (USD Million)
5.5.9. Rest of the World (RoW) Wind Turbine Composite Material Market, By Country
5.5.9.1. Brazil
5.5.9.1.1. Brazil Wind Turbine Composite Material Market Size (MTPA)
5.5.9.1.2. Brazil Wind Turbine Composite Material Market Size (USD Million)
5.5.9.2. Chile
5.5.9.2.1. Chile Wind Turbine Composite Material Market Size (MTPA)
5.5.9.2.2. Chile Wind Turbine Composite Material Market Size (USD Million)
5.5.9.3. Rest of RoW
5.5.9.3.1. Rest of RoW Wind Turbine Composite Material Market Size (MTPA)
5.5.9.3.2. Rest of RoW Wind Turbine Composite Material Market Size (USD Million)
CHAPTER 6. Competitive Analysis
6.1. Company Market Share Analysis (2016)
6.2. Porters Five Forces Analysis
6.2.1. Bargaining Power of Buyers
6.2.2. Bargaining Power of Suppliers
6.2.3. Threat of New Entrants
6.2.4. Intensity of Rivalry
6.2.5. Threat of Substitutes
CHAPTER 7. Key Players and Strategic Developments
7.1. Vestas Wind System AS
7.1.1. Business Overview
7.1.2. Product and Service Offering
7.1.3. Financial Overview
7.1.4. Strategic Developments
7.2. LM Wind Power
7.2.1. Business Overview
7.2.2. Product and Service Offering
7.2.3. Financial Overview
7.2.4. Strategic Developments
7.3. Cytec Solvay Group
7.3.1. Business Overview
7.3.2. Product and Service Offering
7.3.3. Financial Overview
7.3.4. Strategic Developments
7.4. Koninklijke Ten Cate NV
7.4.1. Business Overview
7.4.2. Product and Service Offering
7.4.3. Financial Overview
7.4.4. Strategic Developments
7.5. Hexcel Corporation
7.5.1. Business Overview
7.5.2. Product and Service Offering
7.5.3. Financial Overview
7.5.4. Strategic Developments
7.6. Toray Industries Inc.
7.6.1. Business Overview
7.6.2. Product and Service Offering
7.6.3. Financial Overview
7.6.4. Strategic Developments
7.7. Gurit Holding AG
7.7.1. Business Overview
7.7.2. Product and Service Offering
7.7.3. Financial Overview
7.7.4. Strategic Developments
7.8. Teijin Limited
7.8.1. Business Overview
7.8.2. Product and Service Offering
7.8.3. Financial Overview
7.8.4. Strategic Developments
7.9. TPI Corporation
7.9.1. Business Overview
7.9.2. Product and Service Offering
7.9.3. Financial Overview
7.9.4. Strategic Developments
7.10. Molded Fiber Glass Companies
7.10.1. Business Overview
7.10.2. Product and Service Offering
7.10.3. Financial Overview
7.10.4. Strategic Developments
CHAPTER 8. RESEARCH APPROACH
8.1. Initial Data Search
8.2. Secondary Research
8.3. Primary Research
8.4. Scope and Assumptions

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Global Wind Turbine Composite Materials Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023

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The post Global Wind Turbine Composite Materials Market Outlook, Trend and Opportunity Analysis, Competitive Insights, Actionable Segmentation & Forecast 2023 appeared first on Energias.



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