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. 

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 

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 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

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