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Global Market Study on Wind Turbine Blade Materials- Covid-19 Impact and Trends to 2031

 

Wind Turbine Blade Materials: Introduction

 

·         Blades are an important part of a wind turbine, and these are expensive components of a turbine. Wind turbine blades consist 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 components of a wind turbine, as these are susceptible to lightening. Composite materials are utilized to manufacture blades of turbines.

 

Key Drivers and Restraints of Global Wind Turbine Blade Materials Market

 

·         The wind turbine blade materials market has expanded significantly in the last few years. This can be primarily ascribed to the high performance of wind turbines and increasing recognition of renewable energy globally. Wind turbine blade materials play an important role in addressing several issues associated with the use of fossil fuels for the generation of energy. The global wind turbine blade materials market is anticipated to expand at a rapid pace during the forecast period due to an increase in the number of wind power generation projects, technology advancements, rise in government subsidies, growing environmental concerns, and an increase in the demand for renewable energy across the globe.

·         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 restrain the global wind turbine blades material market.

 

Wind Turbine Blade Materials: Fiber Segment

 

·         In terms of fiber, the global wind turbine blade materials market can be segmented into carbon fiber and glass fiber

·         The glass fiber segment is expected to account for a significant share of the global wind turbine blade materials market during the forecast period, as these possess better properties, such as chemical resistance, strength, and stiffness, as compared to that possessed by carbon fiber.

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Wind Turbine Blade Materials: Resin Segment

 

·         In terms of resin, the global wind turbine blade materials market can be classified into epoxy, polyester, and vinyl ester

·         The epoxy segment is estimated to expand at a rapid pace during the forecast period due to its lower temperature cure and lower viscosity as compared to that of other alternatives

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Wind Turbine Blade Materials: Manufacturing Process Segment

 

·         In terms of manufacturing process, the global wind turbine blade materials market can be divided into hand lay-up technology, vacuum infusion, prepreg, and resin infusion technology

·         The resin infusion technology segment can be further 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: Application Segment

 

·         In terms of application, the global wind turbine blade materials market can be bifurcated into onshore and offshore

·         The onshore segment is estimated to expand at a rapid pace during the forecast period owing to an increase in the demand for renewable energy for residential purposes

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COVID-19 Impact on Wind Turbine Blade Materials Market

 

·         On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.

·         Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic

·         Manufacture of various consumer goods and other products across the globe has come to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the wind turbine blade materials market.

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Asia Pacific to Dominate Wind Turbine Blade Materials Market

 

·         In terms of region, the global wind turbine blade materials market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         Asia Pacific dominated the wind turbine blade materials market in 2020. This trend is anticipated to continue during the forecast period. This can be ascribed to the high demand for renewable energy sources; rise in the 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 and wind power development programs; and government regulations regarding renewable energy. However, the wind turbine blade materials market in Europe is anticipated to expand at a rapid pace owing to an increase in wind installation capacity, which is more than that of any other form of power generation in Europe.

 

Key Manufacturers Operating in Global Wind Turbine Blade Materials Market

The global wind turbine blade materials market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers 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

·         Vestas Wind Systems A/S

·         Stem AS

·         Acciona S.A.

 

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