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Global Wind Turbine Materials Market, Forecast to 2026
Global Wind Turbine Materials Market, Forecast to 2026
Increasing Demand for Renewable Energy Worldwide Drives Market Growth
06-Mar-2020
Global
Market Research
Description
The wind turbine materials market is bifurcated into structural and non-structural materials. The structural materials market is further divided into metals, Fiber-Reinforced Composites (FRC) and core material, whereas the non-structural materials market includes Protective Coatings (PRC), Adhesives and Sealants (AES), and Lubricants, Greases, and Coolants (LGC). The segmentation has been provided for each material for different wind turbine components, including rotor, tower, and others. The major application areas are onshore and offshore.
The consumption of structural materials is expected to be huge, as they provide structural integrity or stiffness to the wind turbine, while minimizing its overall weight. The market for non-structural materials is likely to grow at the highest CAGR during the forecast period, both in terms of value and volume. These materials protect the turbines from corrosion and weathering, thereby, enhancing the longevity of the components and ensuring their reliable functioning.
The onshore segment contributed to the largest share of the wind turbine materials market in 2019 and is expected to continue its dominance during the forecast period, largely due to lower deployment costs and better infrastructure of onshore wind turbines compared to their offshore counterparts. However, with growing energy demand and depletion of fossil fuels, government authorities worldwide have been also increasing their focus on the offshore segment, which, in turn, will significantly drive the growth of the associated materials during the forecast period.
The overall consumption of wind turbine materials in India is anticipated to register high growth during the forecast period. This is largely due to strong economic development, coupled with industrialization activities, which results in a strong demand for renewable energy alternatives in the country. Rest of Asia-Pacific (RAPAC) accounted for the largest share in the wind turbine materials market in 2019 and is expected to continue its dominance during the forecast period. Increasing urbanization and demographic growth, along with favorable government policies for scaling up wind capacity installations, are largely responsible for driving the demand for wind turbine materials for both onshore and offshore applications in the region. The Middle East and Rest of the World (RoW) are expected to be the two fastest growing markets for wind turbine materials, with increasing government spending and implementation of long-term goals related to wind energy deployment in these regions.
The market for wind turbine materials in North America and Europe is already at a mature stage. However, increasing incidences of climate change along with subsequent global warming in these regions is expected to boost the growth in consumption of wind turbine materials, majorly for offshore applications.
Regulatory authorities, such as US Environmental Protection Agency (EPA) and Chinese Ministry of Ecology and Environment (MEE), enforce regulations against emission of Volatile Organic Compounds (VOC) from coatings, adhesives, and other non-structural materials. Chemicals with low VOC content are being increasingly selected by wind turbine manufacturers based on the need to adhere to these standards.
However, scarcity of infrastructure for wind energy transmission and uncertain government policies and improper control on wind energy incentives and tariff rates pose threats for the wind turbine materials market.
Owing to the complexity of the production process and severity of the application areas, the market for a majority of the wind turbine materials is highly consolidated with strong presence of brands having excellent manufacturing expertise. However, price competition prevails for metals, including steel, owing to their commoditized nature, which attracts numerous medium- and small-scale suppliers across the globe.
Rather than developing alternate chemistries, manufacturers of structural and non-structural materials focus on improving existing technologies in terms of reducing curing times and usage of materials while also imparting higher processing ability and strength-to-weight ratio. These factors, in turn, help companies to develop cost-effective materials with advanced features, such as lighter weight and higher load-withstanding capability, among others. Moreover, leading companies are set to strengthen their market share by vertical integration, partnerships or Mergers and Acquisitions (M&A), and improving customer collaboration.
RESEARCH: INFOGRAPHIC
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Table of Contents
Executive Summary—Key Findings
Executive Summary—Strategic Factsheet
Market Engineering Measurements
Market Engineering Measurements (continued)
CEO’s Perspective
CEO’s Perspective (continued)
Market Definitions
Market Definitions (continued)
Market Definitions (continued)
Geographic Scope
Key Questions this Study will Answer
Market Segmentation
Market Segmentation (continued)
Market Drivers
Drivers Explained
Drivers Explained (continued)
Drivers Explained (continued)
Market Restraints
Restraints Explained
Restraints Explained (continued)
Market Engineering Measurements
Forecast Assumptions
Unit Shipment Forecast
Revenue Forecast
Unit Shipment and Revenue Forecast Discussion
Unit Shipment and Revenue Forecast Discussion (continued)
Pricing Trends and Forecast
Pricing Trends and Forecast by Materials Type
Pricing Trends and Forecast Discussion
Percent Unit Shipment Forecast by Rotor Materials Type
Unit Shipment Forecast by Rotor Materials Type
Percent Revenue Forecast by Rotor Materials Type
Revenue Forecast by Rotor Materials Type
Unit Shipment and Revenue Forecast Discussion by Wind Turbine Materials Type for Rotor
Percent Unit Shipment Forecast by Tower Materials Type
Unit Shipment Forecast by Tower Materials Type
Percent Revenue Forecast by Tower Materials Type
Revenue Forecast by Tower Materials Type
Unit Shipment and Revenue Forecast Discussion by Wind Turbine Materials Type for Tower
Percent Unit Shipment Forecast by Materials Type for Other Components
Unit Shipment Forecast by Materials Type for Other Components
Percent Revenue Forecast by Materials Type for Other Components
Revenue Forecast by Materials Type for Other Components
Unit Shipment and Revenue Forecast Discussion by Wind Turbine Materials Type for Other Components
Percent Unit Shipment Forecast by Region
Unit Shipment Forecast by Region
Percent Revenue Forecast by Region
Revenue Forecast by Region
Unit Shipment and Revenue Forecast Discussion by Region
Percent Unit Shipment Forecast by Application Type
Percent Revenue Forecast by Application Type
Unit Shipment and Revenue Forecast Discussion by Application Type
Technology and Product Trends—Wind Turbine Materials
Technology and Product Trends—Non-structural Wind Turbine Materials
Technology and Product Trends—Wind Turbine Materials
Value Chain
Value Chain Description
Market Share Analysis by Structural Material Type
Market Share Analysis by Non-structural Material Type
Competitive Environment
Competitive Factors and Assessment
Growth Opportunity 1—Increasing Renewable Energy Demand and Corresponding Deployment of Wind Turbines
Growth Opportunity 2—Demand for Higher-Quality Wind Turbine Materials in the Developed World
Strategic Imperatives for Success and Growth
Dynamic SWOT Analysis
Wind Turbine Materials Market—Key Regulatory Authorities
North America—Key Findings
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Unit Shipment and Revenue Forecast Discussion
Percent Revenue Forecast by Sub-region
Revenue Forecast by Sub-region
Revenue Forecast Discussion by Sub-region
Revenue Forecast Discussion by Sub-region (continued)
Percent Unit Shipment Forecast by Application Type
Percent Revenue Forecast by Application Type
Unit Shipment and Revenue Forecast Discussion by Application Type
Competitive Environment
Europe—Key Findings
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Unit Shipment and Revenue Forecast Discussion
Percent Revenue Forecast by Sub-region
Revenue Forecast by Sub-region
Revenue Forecast Discussion by Sub-region
Percent Unit Shipment Forecast by Application Type
Percent Revenue Forecast by Application Type
Unit Shipment and Revenue Forecast Discussion by Application Type
Competitive Environment
India—Key Findings
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Unit Shipment and Revenue Forecast Discussion
Percent Unit Shipment Forecast by Application Type
Percent Revenue Forecast by Application Type
Unit Shipment and Revenue Forecast Discussion by Application Type
Competitive Environment
Rest of APAC—Key Findings
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Unit Shipment and Revenue Forecast Discussion
Percent Revenue Forecast by Sub-region
Revenue Forecast by Sub-region
Revenue Forecast Discussion by Sub-region
Revenue Forecast Discussion by Sub-region (continued)
Percent Unit Shipment Forecast by Application Type
Percent Revenue Forecast by Application Type
Unit Shipment and Revenue Forecast Discussion by Application Type
Competitive Environment
The Middle East—Key Findings
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Unit Shipment and Revenue Forecast Discussion
Percent Revenue Forecast by Sub-region
Revenue Forecast by Sub-region
Revenue Forecast Discussion by Sub-region
Percent Unit Shipment Forecast by Application Type
Percent Revenue Forecast by Application Type
Unit Shipment and Revenue Forecast Discussion by Application Type
Competitive Environment
RoW—Key Findings
Market Engineering Measurements
Unit Shipment and Revenue Forecast
Unit Shipment and Revenue Forecast Discussion
Percent Revenue Forecast by Sub-region
Revenue Forecast by Sub-region
Revenue Forecast Discussion by Sub-region
Revenue Forecast Discussion by Sub-region (continued)
Percent Unit Shipment Forecast by Application Type
Percent Revenue Forecast by Application Type
Unit Shipment and Revenue Forecast Discussion by Application Type
Competitive Environment
The Last Word—3 Big Predictions
Legal Disclaimer
Market Engineering Methodology
Abbreviations and Acronyms Used
Abbreviations and Acronyms Used (continued)
List of Exhibits
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
List of Exhibits (continued)
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| Deliverable Type | Market Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Sayantan Sengupta |
| Industries | Chemicals and Materials |
| WIP Number | MF23-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9100-A2,9595,9870 |