Wind Turbine Blade Materials Market: Introduction

Blades are an important part of a wind turbine, and these are costly components of a turbine. Wind turbine blades consists of two faces, one is the suction side and the other is the pressure side. These are joined together and stiffened by one or several integral webs linking the upper and lower parts of the blade shell. Blades are vulnerable parts of a wind turbines as these are susceptible to lightening. Composite materials are used to manufacture blades of these turbines.

Wind Turbine Blade Materials Market: Development & Trends

The global wind turbine blade materials market is anticipated to expand at a rapid pace during the forecast period due to the rising wind power generation projects, technology advancement, increasing government subsidies, growing environmental concerns, and increasing demand for renewable energy. Rise in investments for and provision of clean energy incentives schemes for the development of renewable energy is expected to be a major factor driving the wind turbine blade materials market. Lack of grid infrastructure which leads to the curtailment of power and lack of skilled labor and capital in certain countries inhibit the global wind turbine blades material market.

Wind Turbine Blade Materials Market: Key Segments

The wind turbine blade material market can be segmented in terms of fiber, resin, manufacturing process, and region. Based on fiber, the wind turbine blade materials market can be bifurcated into carbon fiber and glass fiber. The glass fiber segment accounted for a dominant share of the wind turbine blade materials market in 2017, as these possess better properties such as, chemical resistance, strength, and stiffness as compared to carbon fiber. These are also easily available and cost effective. However, the carbon fiber segment is projected to expand due to its high stiffness. However, disadvantages of carbon fiber include high costs, low compressive strength, and high sensitivity to local defects. In terms of resin, the wind turbine blade materials market can be classified into epoxy, polyester, and vinyl ester. Demand for epoxy resins is high due to its lower temperature cure and lower viscosity as compared to other alternatives.

Based on manufacturing process, the wind turbine blade materials market can be divided into hand lay-up technology, vacuum infusion, prepreg, and resin infusion technology. The resin infusion technology can be sub-segmented into resin transfer molding and vacuum assisted resin transfer molding. Presently, vacuum assisted resin transfer molding is extensively employed to manufacture wind turbine blades.

Wind Turbine Blade Materials Market: Regional Outlook

In terms of region, the global wind turbine blade materials market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Based on value and volume, Asia Pacific dominates the global market.

Asia Pacific is a highly attractive region for the wind turbine blades materials market due to high demand for renewable energy sources, rise in demand for lightweight and high strength materials used in the manufacturing of various parts of wind turbines, and supportive government initiatives such as favorable policies, wind power development programs, and government regulations regarding renewable energy. Furthermore, the market in Europe is estimated to expand at a substantial pace during the forecast period owing to the increase in wind installation capacity, which is more than that of any other form of power generation in Europe. India is a lucrative country for the wind turbine blade materials market, followed by Spain and Germany. Wind energy installation capacity and investment in wind energy and onshore wind energy projects have increased in these countries. Presently, these countries are projected to increase investment in offshore wind energy projects.

Wind Turbine Blade Materials Market: Key Players

Key players operating in the global wind turbine blade materials market include Suzlon Energy Limited, AVIC Huiteng Windpower Equipment Co., Ltd., TPI Composites Inc., MFG Wind, LM Wind Power, Gamesa Corporation Technology, and Vestas Wind Systems A/S.

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.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

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?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Wind Turbine Blade Materials Market

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