Wind Turbine Blade Materials Market: Introduction
Blades are an important part of a wind turbine, and these are costly components of a turbine. Wind turbine blades consists of two faces, one is the suction side and the other is the pressure side. These are joined together and stiffened by one or several integral webs linking the upper and lower parts of the blade shell. Blades are vulnerable parts of a wind turbines as these are susceptible to lightening. Composite materials are used to manufacture blades of these turbines.
Wind Turbine Blade Materials Market: Development & Trends
The global wind turbine blade materials market is anticipated to expand at a rapid pace during the forecast period due to the rising wind power generation projects, technology advancement, increasing government subsidies, growing environmental concerns, and increasing demand for renewable energy. Rise in investments for and provision of clean energy incentives schemes for the development of renewable energy is expected to be a major factor driving the wind turbine blade materials market. Lack of grid infrastructure which leads to the curtailment of power and lack of skilled labor and capital in certain countries inhibit the global wind turbine blades material market.
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Wind Turbine Blade Materials Market: Key Segments
The wind turbine blade material market can be segmented in terms of fiber, resin, manufacturing process, and region. Based on fiber, the wind turbine blade materials market can be bifurcated into carbon fiber and glass fiber. The glass fiber segment accounted for a dominant share of the wind turbine blade materials market in 2017, as these possess better properties such as, chemical resistance, strength, and stiffness as compared to carbon fiber. These are also easily available and cost effective. However, the carbon fiber segment is projected to expand due to its high stiffness. However, disadvantages of carbon fiber include high costs, low compressive strength, and high sensitivity to local defects. In terms of resin, the wind turbine blade materials market can be classified into epoxy, polyester, and vinyl ester. Demand for epoxy resins is high due to its lower temperature cure and lower viscosity as compared to other alternatives.
Based on manufacturing process, the wind turbine blade materials market can be divided into hand lay-up technology, vacuum infusion, prepreg, and resin infusion technology. The resin infusion technology can be sub-segmented into resin transfer molding and vacuum assisted resin transfer molding. Presently, vacuum assisted resin transfer molding is extensively employed to manufacture wind turbine blades.
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Wind Turbine Blade Materials Market: Regional Outlook
In terms of region, the global wind turbine blade materials market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Based on value and volume, Asia Pacific dominates the global market.
Asia Pacific is a highly attractive region for the wind turbine blades materials market due to high demand for renewable energy sources, rise in demand for lightweight and high strength materials used in the manufacturing of various parts of wind turbines, and supportive government initiatives such as favorable policies, wind power development programs, and government regulations regarding renewable energy. Furthermore, the market in Europe is estimated to expand at a substantial pace during the forecast period owing to the increase in wind installation capacity, which is more than that of any other form of power generation in Europe. India is a lucrative country for the wind turbine blade materials market, followed by Spain and Germany. Wind energy installation capacity and investment in wind energy and onshore wind energy projects have increased in these countries. Presently, these countries are projected to increase investment in offshore wind energy projects.
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Wind Turbine Blade Materials Market: Key Players
Key players operating in the global wind turbine blade materials market include Suzlon Energy Limited, AVIC Huiteng Windpower Equipment Co., Ltd., TPI Composites Inc., MFG Wind, LM Wind Power, Gamesa Corporation Technology, and Vestas Wind Systems A/S.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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