Global Wind Turbine Composite Materials Market Size, Share, Development, Growth and Demand Forecast to 2022

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Wind turbine composite materials refer to the composite materials used for making wind turbines. Composite materials are the materials that are made of two or more materials with different chemical and physical properties. These materials when combined produce a different material with properties different from the individual materials. Composites are made using various fibers such as carbon and glass fibers. The different resins such as epoxy, polyester, polyurethane and vinyl ester are used in making these composites. Composite materials are used in the wind energy industry for manufacturing different components of wind turbines such as wind blades and nacelles. The structural components of wind turbine gain higher strength at comparatively lower weight due to usage of the composite materials.

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Glass fiber and carbon fiber are the two most widely used composite materials in the global wind turbine composite materials market. These materials have their usage mostly in making the structural components of the turbine blades, nacelle and the spar. These materials provide several benefits such as increased life of objects, higher flexibility and stability, and lower maintenance. Among the various types of wind turbine composite materials, fiber composite materials held the largest share in the global market in 2015. Glass fiber held the largest share in the global wind turbine composite fiber market in 2015. The carbon fiber composites are increasingly being used for the manufacturing of wind turbine blades, owing to their high strength and low-weight.

Among different applications, the consumption of wind turbine composite materials was largest for wind blades in 2015. The increased demand for wind energy plays a pivotal role in the expansion of the wind turbine composite materials market. The composite materials are being used for manufacturing larger rotor blades to increase wind turbine output. Moreover, the advantage of longer life cycle, high strength-to-weight ratio, corrosion resistance and low maintenance, compared to other conventional materials such as steel and aluminum, is giving composite materials an edge over other materials.

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The global wind turbine composite materials market was valued at $3,970.4 million in 2015, and it is expected to grow at a CAGR of 7.8% during 2016 - 2022. The increased government support for wind power projects and stringent environmental regulations, increasing need for energy independence and geopolitical energy security, and increasing wind power capacity across the globe is driving the growth of the global wind turbine composite materials market. High cost of composite materials and uncertain global economic conditions are the key factors limiting adoption of composite materials for manufacturing wind turbine structural components.

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