Lightweight wind blades demand drives composites market

The growing wind energy market has been a key driver for the growth of composite materials market. As there is a positive growth prospect in the wind market, it is likely to support the positive growth of composite materials in this market.

The future of this market looks promising due to several economic and environmental factors and strong growth of wind energy market. Advantage of corrosion resistance, high strength-to-weight ratio, low maintenance, and a longer lifecycle as compared to other traditional materials such as aluminium and steel is giving composites an edge over other materials. Nevertheless, high cost continues to be a limiting factor for developing new applications.

Asia Pacific has been the top continent in terms of total composite consumption followed by North America and Europe. Rest of World (ROW) saw the highest growth rate due to rapidly increasing demand in the region.

This in-depth Lucintel’s study is designed and intended for use by new entrants, manufacturers, material suppliers, component or structure fabricators, OEMs, investors, executives and consultants focused on the wind energy industry.

The data and analysis found in this report can be utilized for a variety of functional business reasons including business development, strategic planning, business presentations determination of market size and trends, competitive analysis,investment decision, and joint product development.

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