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Global Wind Turbine Composite Materials Market 2017-2021

Global Wind Turbine Composite Materials Market 2017-2021

About Wind Turbine Composite Materials

The global fossil fuel dependency is expected to cause significant social and economic fluctuations. An economy that is based on fossil fuel is highly unsustainable. The efforts taken to reduce such an impact and reduce its usage and dependence has paved way for alternate and renewable sources of energy. Alternate sources, such as wind energy, is one of the most sought after options since it is the least expensive power generating option. Increasing number of locations for capacity additions in newer markets such as Africa, Asia, Central, and South America is driving the wind power generation. Both onshore and offshore wind power generation have contributed to the improvement of wind energy's economics in varied operating conditions and wind regimes.

Technavio’s analysts forecast the global wind turbine composite materials market to grow at a CAGR of 7.12% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global wind turbine composite materials market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Wind Turbine Composite Materials Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Cytec Solvay Group
  • Gurit
  • Teijin
  • Toray
  • TPI Composites
Other prominent vendors
  • Axiom Materials
  • HC Composite
  • Hexcel
  • Molded Fiber Glass Companies
  • SGL Group
  • TenCate
  • Vestas
Market driver
  • Increasing demand for composite materials for varied blade sizes.
  • For a full, detailed list, view our report
Market challenge
  • High costs incurred during production of composites.
  • For a full, detailed list, view our report
Market trend
  • Nanotechnology-based composites.
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Wind Turbine Composite Materials Market 2017-2021

Technavio recognizes the following companies as the key players in the global wind turbine composite materials market: Cytec Solvay Group, Gurit, Teijin, Toray, and TPI Composites.

Other Prominent Vendors in the market are: Axiom Materials, HC Composite, Hexcel, Molded Fiber Glass Companies, SGL Group, TenCate, and Vestas.

Commenting on the report, an analyst from Technavio’s team said: “One trend in market is emergence of bio-based products. Over the past few years, vendors in the chemical industry have been making efforts for using sustainable processes that will have a negligible impact on the environment. Such activities include the development of bio-based products derived from renewable sources. This has also been helping vendors to gain a competitive edge. The R&D of these materials is not a novel concept in the industry.”

According to the report, one driver in market is wind power capacity additions. Wind energy is emerging as a low-cost renewable source of energy for the generation of electricity, with developed regions such as North America and Western Europe accounting for the highest investments in the total wind tower installations across the globe. It is a high-potential application area for carbon fiber composites, with turbine blades being the fastest growing product in this segment. Thermoset prepregs are widely used for the manufacture of wind turbines as these exhibit superior performance characteristics such as high strength-to-weight ratio and durability. An increasing number of vendors in the market are focusing on the R&D of technologically advanced products for such applications. The introduction of new low-cost carbon fiber prepregs for wind energy applications is expected to trigger the manufacture of wind turbine blades that are stronger, lighter, and longer, thereby create more energy as compared with shorter blades.

Further, the report states that one challenges in market is volatile nature of raw material price and the market. The composites used for wind turbine applications are 30%-35% more expensive than steel, concrete, and thermoplastics. In addition, limitations on the supply and increase in the prices of raw materials such as epoxy, carbon fiber, aluminum foil, phenolic resins, fiberglass yarns, and aramid paper will affect the profit margins of the vendors. The difficulties faced during recycling are hindering the use of these fibers in large volume segments. There has been a significant lack of supply for the availability of these fibers. Lack of production techniques and material engineering experience are resulting in an extended manufacturing cycle and preventing investments from other manufacturers.

Companies Mentioned

Cytec Solvay Group, Gurit, Teijin, Toray, TPI Composites,\ Axiom Materials, HC Composite, Hexcel, Molded Fiber Glass Companies, SGL Group, TenCate, and Vestas.

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
      • Table Features of wind turbine components
    • Global wind turbine composite materials: Supply chain
      • Table Supply chain in the global wind turbine composite materials market
  • Market landscape
    • Global wind turbine composite materials market
      • Table Global wind turbine composite materials market 2016 and 2021 ($ millions)
      • Table Market forecast: Global wind turbine composite materials market
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by resin type
    • Global wind turbine composite materials market by resin type
      • Table Global wind turbine composite materials market by resin type 2016 (% share of revenue)
      • Table Global wind turbine composite materials market by resin type 2021 (% share of revenue)
    • Global wind turbine composite materials market by thermoset resin type
      • Table Global wind turbine composite materials market by thermoset resin type 2016 and 2021 ($ millions)
      • Table Market forecast: Global wind turbine composite materials market by thermoset resin type 2016-2021
    • Global wind turbine composite materials market by thermoplastic resin type
      • Table Global wind turbine composite materials market by thermoplastic resin type 2016 and 2021 ($ millions)
      • Table Market forecast: Global wind turbine composite materials market by thermoplastic resin type 2016-2021
  • Market segmentation by fiber composite
    • Global wind turbine composite materials market by fiber composite
      • Table Global wind turbine composite materials market by fiber composite 2016 (% share of revenue)
      • Table Global wind turbine composite materials market by fiber composite 2021 (% share of revenue)
    • Global wind turbine composite materials market by glass fiber
      • Table Global wind turbine composite materials market by glass fiber 2016 and 2021 ($ millions)
      • Table Market forecast: Global wind turbine composite materials market by glass fiber 2016-2021
    • Global wind turbine composite materials market by other composites
      • Table Global wind turbine composite materials market by other composites 2016 and 2021 ($ millions)
      • Table Market forecast: Global wind turbine composite materials market by other composites 2016-2021
  • Geographical segmentation
    • Global wind turbine composite materials market by geography
      • Table Global wind turbine composite materials market by geography 2016 (% share of revenue)
      • Table Global wind turbine composite materials market by geography 2021 (% share of revenue)
    • Wind turbine composite materials market in APAC
      • Table Wind turbine composite materials market in APAC 2016 and 2021 ($ millions)
      • Table Market forecast: Wind turbine composite materials market in APAC 2016-2021
    • Wind turbine composite materials market in Americas
      • Table Wind turbine composite materials market in Americas 2016 and 2021 ($ millions)
      • Table Market forecast: Wind turbine composite materials market in Americas 2016-2021
    • Wind turbine composite materials market in EMEA
      • Table Wind turbine composite materials market in EMEA 2016 and 2021 ($ millions)
      • Table Market forecast: Wind turbine composite materials market in EMEA 2016-2021
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global installed wind power capacity of key regions 2015 (megawatts)
    • Impact of drivers on key geographic segments
      • Table Impact of drivers
    • Market challenges
    • Impact of challenges on key geographic segments
      • Table Impact of challenges
  • Market trends
    • Emergence of bio-based products
    • Nanotechnology-based composites
    • High penetration rate of aramid fibers
  • Vendor landscape
    • Competitive scenario
    • Key market vendors
      • Table Key vendors in wind turbine composite materials market 2016
    • Other prominent vendors
    • Cytec Solvay Group
      • Table Solvay: Business segmentation by revenue 2015
      • Table Solvay: Geographical segmentation by revenue 2015
    • Gurit
      • Table Gurit: Business segmentation by revenue 2016
      • Table Gurit: Geographical segmentation by revenue 2016
      • Table Gurit: Product offering 2016
    • TEIJIN
      • Table TEIJIN: Business segmentation by revenue 2015
      • Table TEIJIN: Geographical segmentation by revenue 2015
    • Toray
      • Table Toray: Business segmentation by revenue 2015
      • Table Toray: Geographical segmentation by revenue 2015
      • Table Toray: Product offering 2016
    • TPI Composites
      • Table Global installed capacity by end of 2015 (GW)
      • Table TPI Composites: Product offerings 2016
  • Appendix
    • List of abbreviations
  • Explore Technavio

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