The wind turbine composite materials market deals with the manufacturing and sale of components such as blades and nacelles of wind turbines. Wind turbine generators, towers, turbine blades, rotors, nacelles, and wind propellers are manufactured from various composite materials and are the highest-cost component of turbines. The increase in the installation of wind turbines across the globe is increasing the market for composite materials. The increasing focus of governments on offshore wind energy installations is driving the market growth. The market is expected to grow because of their increasing demand, being more efficient and sustainable, renewable energy, corrosion resistance, and low maintenance, which offer advantages to conventional materials like aluminum and steel.
Despite growth in space, the wind turbine composite materials market faces several challenges, such as the fluctuating raw material prices and high manufacturing and installation costs of composite materials, especially for those components made of carbon fiber composites. These components are produced through complicated manufacturing processes and are often made from difficult-to-recycle materials, further driving up costs. However, there are several opportunities for growth in the space due to growing research and development funding by both governments and private entities. As the world moves towards renewable energy sources, government incentives are also expected to provide a boost to the wind turbine composite materials market in the coming years.
Download
Order Databook
Actionable Solutions
