Composite materials consumption in the wind energy market is projected to reach US $4.3 billion by 2018 with a high growth recorded for next five years.
Due to huge demand for lightweight and efficient products, growth in new wind turbine installation and increasing size of blades will carry to increased demand for composite materials.
Increasing demand of lightweight materials with efficient properties are driving factors for the growth of composite materials in the wind energy market.
In addition, the growing wind energy market has also been a key driver for the growth of the composite materials market.
The positive growth prospect in the wind market is reflected in the growth of composite materials in this market also.
The future of this market looks hopeful due to numerous financial and environmental factors and strong growth of the wind energy market.
Advantages of corrosion resistance, high strength-to-weight ratio, low maintenance, and a longer life cycle when compared to aluminum and steel is giving composites an edge over other materials.
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However, high demand is never considered to be a limiting factor for developing new applications.
In terms of total composite consumption, Asia Pacific has been the top continent, followed by North America and Europe.
Rest of World (ROW) saw the highest growth rate due to high escalating demand in the region.
Rajani Baburajan
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