IRVING, Texas, Nov. 12, 2013 /PRNewswire-iReach/ -- Wind energy remains the most promising source of renewable energy globally. The total worldwide composite materials consumption in wind energy industry is expected to witness significant increase and reach $4,138 million by 2018. This market includes various raw materials, such as polyester resin, epoxy resin, glass fiber, carbon fiber, adhesive, coating, and cores. Key drivers for the growth of composite materials are growth of wind energy market and increase in the size of wind turbine blades.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on the future needs of composite materials for wind energy market and presents its findings in "Future Composite Materials Needs for Global Wind Energy Market 2013-2018". The report provides a snapshot of the wind energy marketplace and the potential for new material and product developments. Wind energy market is relatively in nascent stage, but it is observing strong acceptance across all regions. Despite composites' gaining popularity, its usage has its own set of challenges. Some of the key challenges are achieving adequate stiffness to prevent excessive blade deflection, preventing buckling failure, and ensuring adequate fatigue life under variable wind loading condition. To solve these challenges, blade manufacturers have started to use carbon fiber. Carbon fiber is; however, 8 to 10 times expensive than glass fiber which hinders its extensive use in turbine blades.
The study also focuses on the key drivers. The wind energy market has been growing at a good rate and is expected to continue the same growth momentum. This is likely to drive the consumption of composites for wind turbine manufacturing as composites remain the choice of material for OEMs and blade manufacturers. The US government encourages wind energy industry worldwide through various incentive programs such Production Tax Credit (PTC).
It is necessary to know the market dynamics and future opportunities to make long-term strategic and financial decisions as well as to compete in the prevailing market conditions. This report gives insights to the market trend (2007-2012) and forecast period (2013-2018) which will assist the interested companies in making key decisions. Increasing demand of lightweight materials with efficient properties drive the growth of composite materials in wind energy market and it is expected to witness robust growth over the next five years.
Lucintel's research report analyzes in detail future composites need for global wind energy market, industry background and classification, wind blade manufacturing process, composites materials in wind blades, resin reinforcement and intermediate materials, wind energy market analysis, composite materials financial analysis, competitive landscape and growth opportunities, market strategic assessment, expert opinion, Strategic growth consulting and company profiles for leading players of the industry.
For a detailed table of contents and pricing information on these timely, insightful reports, contact Lucintel at +1-972-636-5056 or via email at email@example.com. Lucintel provides cutting-edge decision support services that facilitate critical decisions with greater speed, insight, and cost efficiency.
Media Contact: Roy Almaguer, Lucintel, +1-210-878-7693, firstname.lastname@example.org
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