Wind Rotor Blade Material Market: Increasing Investments in Wind Energy The wind power industry has been gaining momentum in the last few years globally. This trend is likely to continue for the next five years, and according to Global Wind Energy Council, the installed capacity is anticipated to double in that period. The rate of installation is increasing due to a rise in investment in renewable sources of energy, globally, and manufacture of wind turbines with large blades and developing offshore wind market. The wind industry has been witnessing an increase in the length of blades, by approximately 6.5 feet per year, since the last few years. This helps lower the cost of energy and allows the industry to increase output by using bigger turbines. However, increase in the size of the blades leads to issues regarding stability and reliability and concerns about the material used for the manufacture of the blades The rotor blade material should be lightweight, flexible, and possess high strength, which can be provided by special advanced and composite materials
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Composite Material Composite materials are highly preferred for the manufacture of wind rotor blades, as composites are made of two or more materials having varied physical and chemical properties. When combined together, the obtained material is stronger and more durable. Composite materials used for wind turbine blade comprise resins of carbon fiber reinforced epoxy, glass fiber reinforced polyester, and glass fiber reinforced epoxy. The combination of resin matrix with glass fibers results in composites that are corrosion-resistant, strong, dimensionally stable, and lightweight. They also offer high die-electric strength, good design flexibility, and can be manufactured at a low cost. High strength materials, such as carbon fiber and epoxies, are specially utilized for high performance blades. The composite material also helps ease the repair and maintenance of the wind rotor blade, as compared to blades made of traditional metals. The material accounts for around 80% to 90% of the manufacturing cost of the wind rotor blade; hence, considerable research and development activities are carried out on wind rotor blade materials.
Key Driver of Wind Rotor Blade Material Market Increasing investments in renewable sources of energy is a major driver of the wind rotor blade material market. Government bodies are promoting and providing subsidies on installation of windmills, which is likely to boost installation and fuel annual energy production. Number of offshore wind projects are increasing due to the availability of high velocity air and large-sized blade turbines can be installed, resulting in increased energy generation.
Key Development TPI Composites, Inc., a U.S.-based independent manufacturer of composite wind blades, signed a multiyear supply agreement with Vestas Wind Systems A/S to provide blades. The blades would be produced at a new production facility in the greater Chennai region in India, which is expected to commence production in the first quarter of 2020.
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Asia Pacific is expected to hold major share of global wind rotor blade material market In terms of geography, the wind rotor blade material market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa The market in Asia Pacific held a significant share of the global wind rotor blade material market during the forecast period, as the region is home to rich sources of raw materials. Furthermore, the region has largest installed base of wind energy especially in China and India. Moreover, the wind rotor blade material market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period, due the increasing investment in renewable sources of energy in the region The wind rotor blade material market in Europe and North America is projected to hold a moderate share of the global market, as the market in these regions is mature and have a high number of installed base as well The wind rotor blade material market in Latin America and Middle East & Africa is expected to expand at a sluggish pace during the forecast period
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Key Players Operating in the Wind Rotor Blade Material Market:
The top companies operating in the wind rotor blade material market are: LM Wind Power Siemens Hexcel Corporation Xingtai Jinniu FB Glass 3B – the fibreglass company Exel Group VESTAS WIND SYSTEMS A/S Suzlon Energy Limited Nordex SE
Global Wind Rotor Blade Material Market: Research Scope
Global Wind Rotor Blade Material Market, by Material Carbon Fiber Glass Fiber Other Blade Materials
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Global Wind Rotor Blade Material Market, by Application Onshore Offshore
Global Wind Rotor Blade Material Market, by Region North America U.S. Canada Europe Germany France U.K. Italy Spain Russia & CIS Rest of Europe Asia Pacific China Japan India ASEAN Rest of Asia Pacific Latin America Brazil Mexico Rest of Latin America Middle East and Africa GCC South Africa Rest of Middle East & Africa
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