Wind Turbine Composites

Wind Turbine Composites Market - Global Industry Insights, Trends,
Asia Pacific is the fastest growing region in the wind turbine composites market. According
to the Global Wind Energy Council, China alone has installed 23.4 GW of new capacity. The
growing market in China is a result of a vision to become energy dependent and sustainable.
However, China is highly dependent on hydrocarbon imports from Middle East countries.
Also, concerns regarding air quality due to coal emissions has led to the shift towards the use
of renewable energy.
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Europe saw an increase of 1,558 MW of offshore wind installations. Germany and U.K are
the major players in the European wind energy market. Strict regulation regarding emissions
and carbon footprint has resulted in increased renewable energy development. In 2016, wind
energy crossed coal to become the second largest power generator after natural gas.
North America is a major player in wind energy. The Southwest Power Pool which provides
power to 14 states in the central U.S was served by wind energy for 52.1% of the grid’s load.
Although, low shale gas prices in the U.S has resulted in the slowdown of investments in
renewable sources of energy.
The Middle East and North Africa are emerging markets for wind energy. Saudi Arabia,
Kuwait, and UAE are the major players in this region. The region has tremendous potential
but growth is slow due to large hydrocarbon reserves in the region.
Latin America is a world leader in renewable resources with 52% of energy production from
renewable sources. Although, hydropower accounted for the major share. Moreover, lack of
abundant hydrocarbon reserves has driven the growth for wind energy market. In 2016,
Gamesa Corp supplied 94 wind turbines to DONG Energy for the Borselle 1 and 2 wind
project in the Netherlands. The project has boosted the wind turbines composites market in
Key Players in the Wind Turbine Composites Market
Key players in the wind composites market include Toray Industries, Cytec Industries Inc.,
Royal TenCate nv, Gurit Holding AG, Hexel Corporation, and Teijin Limited, TPI
Composites, Inc., Gamesa Corporation Technology, Vestas Wind Systems A/S, and Suzlon
Energy Limited
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Wind Turbine Composites Market report categorizes global market by fiber, resin type, manufacturing process, and wind turbine component - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-25