Wind Turbine Composites market Future Growth Explored In Latest Research Report By 2027

The Wind Turbine Composites Material Market was valued at USD 7.15 Billion in 2015, and is projected to reach USD 12.17 Billion by 2021, at a CAGR of 9.28% between 2016 and 2021.

Wind Turbine Composites are being progressively used in the manufacture of wind turbine components. Superior mechanical properties, decreased operating expenditure, and a long lifespan has resulted in its increased use in the wind energy industry. Also, the lightweight property of composites enable the blades to rotate faster than other materials at the same wind speed. Moreover, reduced weight of turbine leads to less robust turbine requirements.

A detailed report on Global Wind Turbine Composites  Market providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027.

Top Key Players in Wind Turbine Composites  market: Toray Industries, Cytec Industries Inc., Royal TenCate nv, Gurit Holding AG, Hexel Corporation, and Teijin Limited, TPI Composites, Inc., Gamesa Corporation Technology, Vestas Wind Systems A/S, and Suzlon Energy Limited

Regional Analysis For Wind Turbine Composites  Market:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Wind Turbine Composites market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

Wind Turbine Composites Market Outlook

• Asia Pacific is the fastest growing region in the wind turbine composites market. According to the Global Wind Energy Council, China alone has installed 23.4 GW of new capacity. The growing market in China is a result of a vision to become energy dependent and sustainable. However, China is highly dependent on hydrocarbon imports from Middle East countries. Also, concerns regarding air quality due to coal emissions has led to the shift towards the use of renewable energy.
• Europe saw an increase of 1,558 MW of offshore wind installations. Germany and U.K are the major players in the European wind energy market. Strict regulation regarding emissions and carbon footprint has resulted in increased renewable energy development. In 2016, wind energy crossed coal to become the second largest power generator after natural gas.

Wind Turbine Composites Market: Key developments

• • In October 2018, Gurit acquired JSB Group a/S with the objective of enhancing their offerings associated with wind energy. The expertise of JSB group would be helpful in offering material kits for wind turbine blades with manufacturing facilities in different regions of the world. JSB’s business operations will be formulated as another business unit under Gurit with no changes in the brand name.
  • In March 2018, Toray Industries, Inc. acquired Koninklijke Ten Cate bv’s subsidiary “TenCate Advanced Composites Holding B.V.” This acquisition would be helpful in gaining benefits from their expertise in the manufacturing of thermoplastics and thermoset prepreg. This acquisition help in expansion of technological and product capabilities of TORAY in combination with TenCate.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com 

The Wind Turbine Composites Material Market was valued at USD 7.15 Billion in 2015, and is projected to reach USD 12.17 Billion by 2021, at a CAGR of 9.28% between 2016 and 2021.

Wind Turbine Composites are being progressively used in the manufacture of wind turbine components. Superior mechanical properties, decreased operating expenditure, and a long lifespan has resulted in its increased use in the wind energy industry. Also, the lightweight property of composites enable the blades to rotate faster than other materials at the same wind speed. Moreover, reduced weight of turbine leads to less robust turbine requirements.

A detailed report on Global Wind Turbine Composites  Market providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027.

Top Key Players in Wind Turbine Composites  market: Toray Industries, Cytec Industries Inc., Royal TenCate nv, Gurit Holding AG, Hexel Corporation, and Teijin Limited, TPI Composites, Inc., Gamesa Corporation Technology, Vestas Wind Systems A/S, and Suzlon Energy Limited

Regional Analysis For Wind Turbine Composites  Market:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Wind Turbine Composites market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

Wind Turbine Composites Market Outlook

• Asia Pacific is the fastest growing region in the wind turbine composites market. According to the Global Wind Energy Council, China alone has installed 23.4 GW of new capacity. The growing market in China is a result of a vision to become energy dependent and sustainable. However, China is highly dependent on hydrocarbon imports from Middle East countries. Also, concerns regarding air quality due to coal emissions has led to the shift towards the use of renewable energy.
• Europe saw an increase of 1,558 MW of offshore wind installations. Germany and U.K are the major players in the European wind energy market. Strict regulation regarding emissions and carbon footprint has resulted in increased renewable energy development. In 2016, wind energy crossed coal to become the second largest power generator after natural gas.

Wind Turbine Composites Market: Key developments

• • In October 2018, Gurit acquired JSB Group a/S with the objective of enhancing their offerings associated with wind energy. The expertise of JSB group would be helpful in offering material kits for wind turbine blades with manufacturing facilities in different regions of the world. JSB’s business operations will be formulated as another business unit under Gurit with no changes in the brand name.
  • In March 2018, Toray Industries, Inc. acquired Koninklijke Ten Cate bv’s subsidiary “TenCate Advanced Composites Holding B.V.” This acquisition would be helpful in gaining benefits from their expertise in the manufacturing of thermoplastics and thermoset prepreg. This acquisition help in expansion of technological and product capabilities of TORAY in combination with TenCate.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com