Wind Turbine Composites are utilized in the production of the equipment parts and blades that offer resilience and exceptional tensile strength to the product. Moreover, low maintenance, long product life and corrosion resistance are the important trends and factors influencing the market confidently. Therefore, they are used in various sectors such as blades, nacelles, hub, tower, and others.

As per our Analysis, the Global Wind Turbine Composites Market is bifurcated into the fiber type, resin, process and application. The market by fiber type is further divided into glass, carbon and other segments. Among these, the glass segment holds a major portion of the market on account of its growing use in home furnishing fabrics, clothing, garments, and others. This segment provides exceptionally chemical resistance, good strength and stiffness to the final product. Epoxy, polyester, vinyl ester, polyurethane, and other segments are segregated on the basis of resin. Among these, the epoxy resin segment holds a majority of the market on account of its growing use in paints & coatings, construction sectors. It is estimated that the polyurethane resin segment is set to grow at a higher rate on account of its growing use in transportation sector as it offers unique short cycle time, toughness and flexibility to the product. Vacuum injection molding, prepeg, and hand lay-up are market segmented on the basis of process segment.

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Key Players and Competition Analysis

Some of the prominent players operating in the Global Wind Turbine Composites Market are LM Wind Power (Denmark), AVIC Huiteng Windpower Equipment Co Ltd ( China), Vestas (Denmark), Gamesa Corporation Technology (U.S.), TPI Composites (U.S.), Suzlon Energy Limited (India), AREVA (France), Siemens AG (Germany), Lianyungang Zhongfu Lianzhong Composites Group Co.,Ltd (China), and Molded Fiber Glass Companies (U.S.) among others.

Segmentation Analysis

The Global Wind Turbine Composites Market is segmented into the fiber type, resin process and application. On the basis of the fiber type, the market is further categorized into glass, and carbon segments. Among these, the glass fiber segment holds a majority of the market share due to extraordinary features offered by the product such as cost-effective nature and ease of application. Epoxy, polyester, vinyl ester, polyurethane, and other segments are classified on the basis of resin segment. Among these, the epoxy resin segment is set to drive the market on account of its growing consumption in wind turbine blades. The market by process is further categorized into vacuum injection molding, prepeg, and hand lay-up segments. Among these, the vacuum injection segment accounts for major share of the market owing to its ability to add anti-toxic nature to the product.

Regional Analysis

The Wind Turbine Composites Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing adoption of lightweight materials in wind turbine installation systems. The glass fiber segment holds the major portion and is anticipated to continue its dominance in the market due to increasing adoption of lightweight materials in the industry. Therefore, countries such as China, Japan and India are the major players in this market.

The North America region is growing significantly due to the increased consumption of low-density materials in generator, housing for the gearbox, and others. It is predicted that growing investments in the end-use industries is likely to drive the market in the region during the forecast period. The growing consumption of composites in major industries has propelled countries such as the U.S, Canada and Mexico to achieve a stunning growth in the market as they provide excellent flexibility, stability and low maintenance to the product.

Browse the market data and information spread across 138 pages with 59 data tables and 15 figures of the report “Wind Turbine Composites Market Research Report- Forecast to 2023” in-depth alongside table of content (TOC) at: https://www.marketresearchfuture.com/reports/wind-turbine-composites-market-5005

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