DUBLIN, April 23, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/jmbtjl/future_composite) has announced the addition of the "Future Composite Materials Need for Global Wind Energy Market 2014-2019" report to their offering.
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According to the author, total worldwide composite materials consumption in wind energy market is expected to witness significant decline in 2013 driven by reduced market for wind turbines in the US, India and other countries. The market is expected to recover during next five years (2014-2019), but with a slower pace. Wind energy market is getting affected by various factors such as reduced government support and incentives, decline in the prices of solar photovoltaic, grid connectivity issues and others.
The composite materials market for wind application includes various raw materials, such as polyester resin, epoxy resin, glass fiber, carbon fiber, adhesive, coating, and core materials.
As per the study, the composite materials market in wind applications is expected to be an attractive market in the future as wind energy capacity installation would grow globally. European and US based material suppliers are likely to face threat from new suppliers of China and other nations. Material suppliers would have good opportunity in this growth market - working with new and existing blade manufacturers.
Although composites are gaining popularity in wind energy market but technological changes are creating new set of challenges. Some of the key challenges are achieving adequate stiffness to prevent excessive blade deflection, preventing buckling failure, and ensuring adequate fatigue life under variable wind loading conditions. To solve these challenges, blade manufacturers have started using high performance materials such as carbon fiber but carbon fiber is eight to 10 times expensive than glass fiber which hinders its extensive use in turbine blades. During the forecast period, average cost of composite materials would increase as more carbon fiber and improved resin formulations will be adopted by blade manufacturers.
Wind energy industry is passing through uncertainties which create a challenge for the composite material suppliers. As of current data, the US market seems to be busted in the year 2013 due to inconsistency in government support and incentives among other factors. Huge layoff of approximately 3,200 employees in 2012 by leading players in the US wind energy market reflects declining confidence of industry players. India wind energy market is also suffering with policies inconsistency affecting the new capacity installations. China wind energy installation is losing its attractiveness considering a flat market in 2013 but significant investments towards grid connectivity promises gradual improvement in the market in the coming years.
Key Topics Covered:
1. Executive Summary
2. Industry Background and Classifications
3. Composite Materials in Wind Blades
4. Resin, Reinforcement, and Intermediate Materials
5. Core Materials and Other Materials in Wind Applications
6. Market Analysis
7. Financial (Cost Structure and Profitability) Analysis
8. Competitive Landscape and Growth Opportunities Analysis
9. Market Strategic Assessment
10. Expert Opinions
11. Company Profiles for Leading Players
For more information visit http://www.researchandmarkets.com/research/jmbtjl/future_composite
Media Contact: Laura Wood , +353-1-481-1716, [email protected]
SOURCE Research and Markets