The Consumption of Composite Materials in Global Wind Energy Industry is Forecast to Reach $3.2 Billion in 2018 Study Says

Apr 22, 2013, 08:30 ET from Composite Insights Pvt Ltd

HYDERABAD, India, April 22, 2013 /PRNewswire/ --

The global wind turbine industry experienced healthy growth in 2012, driven by US, Canada and Brazil. Asia Pacific lost its lead as the region with highest growth in new turbine installation. Market for wind turbine in this region contracted in 2012, due to slumping demand in both China and India.

The world's growing appetite for wind energy has transformed wind turbine blades into one of the hottest composite applications around. The huge demand for wind power generating equipments - particularly in the U.S and China as top tier and India, Germany, Spain, Italy, UK and France as second tier - has raised a bumper crop of new plants for manufacturing these composite parts. Emerging markets such as Brazil, Mexico and Turkey forecast to contribute to the future growth.

Followed by huge demand for wind turbine blades from North America, the consumption of composite materials has increased significantly in 2012. Wind turbine industry is forecast to recover in India and China during the forecast period. The demand for composites materials forecast to reach $3.2 billion in 2018. In reinforcement segment, multi axial glass fabric is expect to remain the leading reinforcement of choice. In resin segment, epoxy is expect to lead the future market growth. Carbon fiber growth opportunities remain promising because of its light weight and other material properties. Composite Insights, a global custom & syndicated market research firm has analyzed the global wind energy industry by blade manufacturer and presents its findings in "Global Wind Energy Composites Industry 2013-2018: Customer Mapping, Trend and Forecast Analysis."

The report extensively looks at recent industry trends and future opportunities for various raw materials used in developing wind turbine blades. Composite Insights mapped leading 30 blade manufacturers and estimated composite material consumption by each manufacturer in all the four regions - North America, Europe, Asia Pacific and ROW.

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SOURCE Composite Insights Pvt Ltd