Wind Turbine Composites Material Market - Global Forecast to 2021

  • ID: 4114872
  • Report
  • Region: Global
  • 146 Pages
  • Markets and Markets
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The Wind Turbine Composite Market is Projected to Reach USD 12.17 Billion by 2021, at a CAGR of 9.28%

FEATURED COMPANIES

  • AREVA
  • Enercon GmbH
  • LM Wind Power
  • Mfg Wind
  • Nordex Se
  • Senvion
  • MORE

The wind turbine composite market is projected to reach USD 12.17 billion by 2021, at a CAGR of 9.28% from 2016 to 2021. Increase in demand for carbon fibers for manufacturing wind turbine blades and rise in demand for renewable energy sources are driving the growth of this market. However, issues related to the high cost of raw materials such as carbon fiber and epoxy resin, and recyclability issue of composites are factors restraining the growth of the market.

The blades application segment accounts for the highest composite consumption. Composites used in wind turbine blades provide them with properties such as long shelf life, less maintenance, resistance to corrosion, and high strength-to-weight ratio.

The Asia-Pacific wind turbine composite market is witnessing significant growth both, in terms of value and volume. The increasing demand for lightweight and high strength materials is driving the growth of the wind turbine composite market in this region. Moreover, the supportive government initiatives such as favorable policies, wind power development programs, government regulations concerning renewable energy, and adjusted feed in tariffs for land-based wind power installations in this region are offering an impetus to the wind turbine composite market.

This study has been validated through primaries conducted with various industry experts, globally.

These primary sources have been divided into the following three categories:

  • By company type- Tier 1 - 25%, Tier 2 - 45%, and Tier 3 - 30%
  • By designation- C Level - 10%, Director Level - 30%, and Others - 60%
  • By region- North America - 30%, Europe - 25%, Asia-Pacific - 30%, Middle East & Africa - 10%, and Latin America - 5%

The report provides a comprehensive analysis of the following companies:

  • TPI Composites, Inc. (U.S.)
  • MFG Wind (U.S.)
  • LM Wind Power (Denmark)
  • Gamesa Corporation Technology (Spain)
  • AVIC Huiteng Windpower Equipment Co., Ltd. (China)
  • Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd. (China)
  • Vestas Wind Systems A/S (Denmark)
  • Suzlon Energy Limited (India)
  • Siemens AG (Germany)

Research Coverage:

This report covers the wind turbine composite market on the basis of fiber type, resin type, manufacturing process, application, and region. It aims at estimating the market size and future growth potential of this market across the above mentioned segments. Furthermore, the report also includes an in-depth competitive analysis of key players in the market, along with their company profiles, SWOT analysis, recent developments, and key growth strategies.

Reasons to buy the report:

The report will help market leaders/new entrants by providing them the closest approximations of revenues for the overall wind turbine composite market and its subsegments. The report will also help stakeholders better understand the competitive landscape and gain more insights to better position their businesses and market strategies. It will assist stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.

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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • AREVA
  • Enercon GmbH
  • LM Wind Power
  • Mfg Wind
  • Nordex Se
  • Senvion
  • MORE
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.4 Currency
1.5 Package Size
1.6 Limitations
1.7 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Growth Opportunities in the Wind Turbine Composite Market
4.2 Wind Turbine Composite Market, By Application
4.3 Wind Turbine Composite Market, By Region
4.4 Wind Turbine Composite Market, By Country
4.5 Wind Turbine Composite Market, By Manufacturing Process

5 Market Overview
5.1 Introduction
5.2 Market Segmentation
5.2.1 By Fiber Type
5.2.2 By Resin Type
5.2.3 By Application
5.2.4 By Manufacturing Process
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Length of Wind Turbine Blades
5.3.1.2 Increase in the Use of Carbon Fiber in Wind Blades
5.3.1.3 Rising Demand for Renewable Energy Sources
5.3.2 Restraints
5.3.2.1 High Cost of Carbon Fiber and Epoxy Resin
5.3.2.2 Recyclability Issue of Composites
5.3.2.3 High Dependence of Wind Energy Industry on Government Subsidies
5.3.3 Opportunities
5.3.3.1 Growing Demand From Emerging Markets
5.3.3.2 Increasing Focus of Governments on Offshore Wind Energy Installations
5.3.4 Challenges
5.3.4.1 Reducing the Cost of Carbon Fiber
5.4 Porter’s Five Forces Analysis
5.4.1 Threat of New Entrants
5.4.2 Threat of Substitutes
5.4.3 Bargaining Power of Suppliers
5.4.4 Bargaining Power of Buyers
5.4.5 Intensity of Competitive Rivalry

6 Macroeconomic Overview
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Per Capita GDP vs Per Capita Wind Turbine Composite Demand
6.4 Trends in the Wind Energy Industry

7 Wind Turbine Composite Market, By Fiber Type
7.1 Introduction
7.2 Glass Fiber
7.3 Carbon Fiber
7.4 Other Promising Fibers

8 Wind Turbine Composite Market, By Resin Type
8.1 Introduction
8.2 Epoxy Resin
8.3 Polyester Resin
8.4 Vinylester Resin
8.5 Other Resins
8.5.1 Polyurethane Resin
8.5.2 Polyamide Resin

9 Wind Turbine Composite Market, By Manufacturing Process
9.1 Introduction
9.2 Vacuum Injection Molding
9.3 Prepreg
9.4 Hand Lay-Up

10 Wind Turbine Composite Market, By Application
10.1 Introduction
10.2 Blades
10.3 Nacelles
10.4 Others
10.4.1 Hub
10.4.2 Tower

11 Regional Analysis
11.1 Introduction
11.2 Asia-Pacific
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.3 Europe
11.3.1 Germany
11.3.2 Poland
11.3.3 France
11.3.4 U.K.
11.3.5 Turkey
11.4 North America
11.4.1 U.S.
11.4.2 Canada
11.5 Latin America
11.5.1 Brazil
11.5.2 Uruguay
11.6 Middle East & Africa
11.6.1 South Africa
11.6.2 Ethiopia
11.6.3 Jordan

12 Competitive Landscape
12.1 Overview
12.2 Competitive Situation and Trends
12.3 Market Share Analysis
12.3.1 LM Wind Power
12.3.2 Avic Huiteng Wind Power Equipment Company Limited
12.3.3 Vestas Wind Systems A/S
12.4 Recent Developments
12.4.1 Agreements
12.4.2 Expansions
12.4.3 New Product Launches
12.4.4 Acquisitions

13 Company Profiles
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, Ratio Analysis, MnM View) -
13.1 LM Wind Power
13.2 Avic Huiteng Wind Power Equipment Company Limited
13.3 Vestas Wind Systems A/S
13.4 Gamesa Corporation Technology
13.5 TPI Composites, Inc.
13.6 Suzlon Energy Limited
13.7 AREVA
13.8 Siemens AG
13.9 Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd
13.10 Mfg Wind
  • Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
13.11 Other Companies
13.11.1 Nordex Se
13.11.2 Kemrock Industries and Exports Limited
13.11.3 Enercon GmbH
13.11.4 Senvion
13.11.5 United Power

14 Appendix
14.1 Insights From Industry Experts
14.2 Discussion Guide

List of Tables

Table 1 Wind Turbine Composite Market Size (Volume and Value), 2014-2021
Table 2 Wind Turbine Composite Market, By Fiber Type
Table 3 Wind Turbine Composite Market, By Resin Type
Table 4 Wind Turbine Composite Market, By Application
Table 5 Wind Turbine Composite Market, By Manufacturing Process
Table 6 Trends and Forecast of GDP, By Country, 2015-2021 (USD Billion)
Table 7 Per Capita GDP vs Per Capita Wind Turbine Composite Demand, 2015
Table 8 Wind Energy Installation, MW (2011-2015)
Table 9 Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (USD Million)
Table 10 Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (Kiloton)
Table 11 Glass Fiber-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (USD Million)
Table 12 Glass Fiber-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (Kiloton)
Table 13 Carbon Fiber-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (USD Million)
Table 14 Carbon Fiber-Based Wind Turbine Composite Market Size, By Region, 2015-2021 (Kiloton)
Table 15 Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (USD Million)
Table 16 Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (Kiloton)
Table 17 Epoxy Resin-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (USD Million)
Table 18 Epoxy Resin-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (Kiloton)
Table 19 Polyester Resin-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (USD Million)
Table 20 Polyester Resin-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (Kiloton)
Table 21 Vinylester Resin-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (USD Million)
Table 22 Vinylester Resin-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (Kiloton)
Table 23 Other Resins-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (Kiloton)
Table 24 Other Resins-Based Wind Turbine Composite Market Size, By Region, 2014-2021 (USD Million)
Table 25 Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (USD Million)
Table 26 Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (Kiloton)
Table 27 Wind Turbine Composite Market Size in Vacuum Injection Molding Process, By Region, 2014-2021 (USD Million)
Table 28 Wind Turbine Composite Market Size in Vacuum Injection Molding Process, By Region, 2014-2021 (Kiloton)
Table 29 Wind Turbine Composite Market Size in Prepreg Manufacturing Process, By Region, 2014-2021 (USD Million)
Table 30 Wind Turbine Composite Market Size in Prepreg Manufacturing Process, By Region, 2014-2021 (Kiloton)
Table 31 Wind Turbine Composite Market Size in Hand Lay-Up Manufacturing Process, By Region, 2014-2021 (USD Million)
Table 32 Wind Turbine Composite Market Size in Hand Layup Manufacturing Process, By Region, 2014-2021 (Kiloton)
Table 33 Wind Turbine Composite Market Size, By Application, 2014-2021 (USD Million)
Table 34 Wind Turbine Composite Market Size, By Application, 2014-2021 (Kiloton)
Table 35 Wind Turbine Composite Market Size in Wind Blade Application, By Region, 2014-2021 (USD Million)
Table 36 Wind Turbine Composite Market Size in Wind Blade Application, By Region, 2014-2021 (Kiloton)
Table 37 Wind Turbine Composite Market Size in Nacelle Application, By Region, 2014-2021 (USD Million)
Table 38 Wind Turbine Composite Market Size in Nacelle Application, By Region, 2014-2021 (Kiloton)
Table 39 Wind Turbine Composite Market Size in Other Applications, By Region, 2014-2021 (USD Million)
Table 40 Wind Turbine Composite Market Size in Other Applications, By Region, 2014-2021(Kiloton)
Table 41 Wind Turbine Composite Market Size, By Region, 2014-2021 (USD Million)
Table 42 Wind Turbine Composite Market Size, By Region, 2014-2021 (Kiloton)
Table 43 Asia-Pacific: Wind Turbine Composite Market Size, By Country, 2014-2021 (USD Million)
Table 44 Asia-Pacific: Wind Turbine Composite Market Size, By Country, 2014-2021 (Kiloton)
Table 45 Asia-Pacific: Wind Turbine Composite Market Size, By Application, 2014-2021 (USD Million)
Table 46 Asia-Pacific: Wind Turbine Composite Market Size, By Application, 2014-2021 (Kiloton)
Table 47 Asia-Pacific: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (USD Million)
Table 48 Asia-Pacific: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (Kiloton)
Table 49 Asia-Pacific: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (USD Million)
Table 50 Asia-Pacific: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (Kiloton)
Table 51 Asia-Pacific: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (USD Million)
Table 52 Asia-Pacific: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (Kiloton)
Table 53 Europe: Wind Turbine Composite Market Size, By Country, 2014-2021 (USD Million)
Table 54 Europe: Wind Turbine Composite Market Size, By Country, 2014-2021 (Kiloton)
Table 55 Europe: Wind Turbine Composite Market Size, By Application, 2014-2021 (USD Million)
Table 56 Europe: Wind Turbine Composite Market Size, By Application, 2014-2021 (Kiloton)
Table 57 Europe: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (USD Million)
Table 58 Europe: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (Kiloton)
Table 59 Europe: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (USD Million)
Table 60 Europe: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (Kiloton)
Table 61 Europe: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (USD Million)
Table 62 Europe: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (Kiloton)
Table 63 North America: Wind Turbine Market Size, By Country, 2014-2021 (USD Million)
Table 64 North America: Wind Turbine Composite Market Size, By Country, 2014-2021 (Kiloton)
Table 65 North America: Wind Turbine Composite Market Size, By Application, 2014-2021 (USD Million)
Table 66 North America: Wind Turbine Composite Market Size, By Application, 2014-2021 (Kiloton)
Table 67 North America: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (USD Million)
Table 68 North America: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (Kiloton)
Table 69 North America: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (USD Million)
Table 70 North America: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (Kiloton)
Table 71 North America: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (USD Million)
Table 72 North America: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (Kiloton)
Table 73 Latin America: Wind Turbine Composite Market Size, By Country, 2014-2021 (USD Million)
Table 74 Latin America: Wind Turbine Composite Market Size, By Country, 2014-2026 (Kiloton)
Table 75 Latin America: Wind Turbine Composite Market Size, By Application, 2014-2021 (USD Million)
Table 76 Latin America: Wind Turbine Composite Market Size, By Application, 2014-2026 (Kiloton)
Table 77 Latin America: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (USD Million)
Table 78 Latin America: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (Kiloton)
Table 79 Latin America: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (USD Million)
Table 80 Latin America: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (Kiloton)
Table 81 Latin America: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (USD Million)
Table 82 Latin America: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (Kiloton)
Table 83 Middle East & Africa: Wind Turbine Composite Market Size, By Country, 2014-2021 (USD Million)
Table 84 Middle East & Africa: Wind Turbine Composite Market Size, By Country, 2014-2021 (Kiloton)
Table 85 Middle East & Africa: Wind Turbine Composite Market Size, By Application, 2014-2021 (USD Million)
Table 86 Middle East & Africa: Wind Turbine Composite Market Size, By Application, 2014-2021 (Kiloton)
Table 87 Middle East & Africa: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (USD Million)
Table 88 Middle East & Africa: Wind Turbine Composite Market Size, By Fiber Type, 2014-2021 (Kiloton)
Table 89 Middle East & Africa: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (USD Million)
Table 90 Middle East & Africa: Wind Turbine Composite Market Size, By Resin Type, 2014-2021 (Kiloton)
Table 91 Middle East & Africa: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (USD Million)
Table 92 Middle East & Africa: Wind Turbine Composite Market Size, By Manufacturing Process, 2014-2021 (Kiloton)
Table 93 Agreements, 2011-2016
Table 94 Expansions, 2011-2016
Table 95 New Product Launches, 2011-2016
Table 96 Acquisitions, 2011-2016

List of Figures

Figure 1 Wind Turbine Composite Market: Market Segmentation
Figure 2 Wind Turbine Composite Market: Research Methodology
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
Figure 4 Market Size Estimation Methodology: Top-Down Approach
Figure 5 Wind Turbine Composite: Data Triangulation Methodology
Figure 6 Glass Fiber to Drive the Wind Turbine Composite Market During the Forecast Period
Figure 7 Epoxy Resin to Be the Fastest-Growing Resin Type in the Wind Turbine Composite Market, 2016 vs 2021
Figure 8 Blade to Be the Largest Application of Wind Turbine Composite During the Forecast Period
Figure 9 Vacuum Injection Molding Manufacturing Process to Drive the Wind Turbine Composite Market During the Forecast Period
Figure 10 Asia-Pacific to Lead the Wind Turbine Composite Market, in Terms of Value, 2015
Figure 11 High Demand for Blade and Nacelle Applications to Drive the Growth of the Wind Turbine Composite Market
Figure 12 Blade to Be the Fastest-Growing Application of the Wind Turbine Composite Market, 2016-2021
Figure 13 Asia-Pacific is Estimated to Be the Largest Wind Turbine Composite Market
Figure 14 Germany to Be the Fastest-Growing Market During the Forecast Period
Figure 15 Vacuum Injection Molding Process to Account for the Largest Market Share During the Forecast Period
Figure 16 Factors Governing the Wind Turbine Composite Market
Figure 17 Porter’s Five Forces Analysis
Figure 18 Trends and Forecast of GDP, By Country, 2015-2021 (USD Billion)
Figure 19 Per Capita GDP vs Per Capita Wind Turbine Composite Demand, 2015
Figure 20 Asia-Pacific to Lead the Wind Energy Installed Capacity, 2014-2015 (MW)
Figure 21 Glass Fiber to Dominate the Wind Turbine Composite Market
Figure 22 Epoxy Resin to Dominate the Wind Turbine Composite Market
Figure 23 Epoxy Resin-Based Wind Turbine Composite Market to Witness the Highest Growth in Asia-Pacific
Figure 24 Wind Turbine Composite Market to Witness the Highest Growth in Vacuum Injection Molding Process
Figure 25 Asia-Pacific to Drive the Wind Turbine Composite Market in Vacuum Injection Molding Process
Figure 26 Wind Turbine Composite Market to Witness the Highest Growth in Wind Blade Application
Figure 27 Asia-Pacific to Drive the Wind Turbine Composite Market in Blade Application
Figure 28 Asia-Pacific to Drive the Global Wind Turbine Composite Market
Figure 29 Asia-Pacific Wind Turbine Composite Market Snapshot: China to Lead the Market
Figure 30 Europe Wind Turbine Composite Market Snapshot: Germany to Lead the Wind Turbine Composite Market in Europe
Figure 31 North America Wind Turbine Composite Market Snapshot: the U.S. is Estimated to Be the Largest Market in the Region
Figure 32 Latin America Wind Turbine Composite Market Snapshot: Brazil to Drive the Wind Turbine Composite Market During the Forecast Period
Figure 33 Middle East & Africa Wind Turbine Composite Market Snapshot: South Africa to Register the Highest CAGR in the Region
Figure 34 Agreements are the Most Preferred Growth Strategy Adopted By Major Players, 2011-2016
Figure 35 Market Development Matrix: Maximum Number of Agreements Were Witnessed in 2015
Figure 36 Growth Strategies Adopted By the Key Players in the Wind Turbine Composite Market
Figure 37 LM Wind Power: the Largest Company in the Wind Turbine Composite Market, 2015
Figure 38 LM Wind Power: Company Snapshot
Figure 39 LM Wind Power: SWOT Analysis
Figure 40 Vestas Wind Systems A/S: Company Snapshot
Figure 41 Vestas Wind Systems A/S: SWOT Analysis
Figure 42 Gamesa Corporation Technology: Company Snapshot
Figure 43 Gamesa Corporation Technology: SWOT Analysis
Figure 44 TPI Composites, Inc.: Company Snapshot
Figure 45 TPI Composites, Inc.: SWOT Analysis
Figure 46 Suzlon Energy Limited: Company Snapshot
Figure 47 Suzlon Energy Limited: SWOT Analysis
Figure 48 AREVA: Company Snapshot
Figure 49 Siemens AG: Company Snapshot
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  • AREVA
  • Avic Huiteng Wind Power Equipment Company Limited
  • Enercon GmbH
  • Gamesa Corporation Technology
  • Kemrock Industries and Exports Limited
  • LM Wind Power
  • Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd
  • Mfg Wind
  • Nordex Se
  • Senvion
  • Siemens AG
  • Suzlon Energy Limited
  • TPI Composites, Inc.
  • United Power
  • Vestas Wind Systems A/S
Note: Product cover images may vary from those shown
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