The total worldwide composite materials consumption in wind energy industryis expected to witness significant increase.
Wind energy remains the most promising source of renewable energy globally. The total worldwide composite materials consumption in wind energy industryis expected to witness significant increase and reach $4,138 million by 2018. This market includes various raw materials, such as polyester resin, epoxy resin, glass fiber, carbon fiber, adhesive, coating, and cores. Key drivers for the growth of composite materials are growth of wind energy market and increase in the size of wind turbine blades.
The study also focuses on the key drivers. The wind energy market has been growing at a goodrate and is expected to continue the same growth momentum. This is likely to drive the consumption of composites for wind turbine manufacturing as composites remain the choice of material for OEMs and blade manufacturers. The US government encourages wind energy industry worldwide through various incentive programs such Production Tax Credit (PTC).
It is necessary to know the market dynamics and future opportunities to make long-term strategic and financial decisions as well as to compete in the prevailing market conditions. This report gives insights to the market trend (2007-2012) and forecast period (2013-2018) which will assist the interested companies in making key decisions.Increasing demand of lightweight materials with efficient properties drive the growth of composite materials in wind energy market and it is expected to witness robust growth over the next five years.
Lucintel's research report analyzes in detail future composites need for global wind energy market, industry background and classification, wind blade manufacturing process, composites materials in wind blades, resin reinforcement and intermediate materials, wind energy market analysis, composite materials financial analysis, competitive landscape and growth opportunities, market strategic assessment, expert opinion, Strategic growth consulting and company profiles for leading players of the industry.
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