By Editors of Power Engineering
The global demand for wind blade materials, including reinforcement fiber, resins, core materials, adhesives, paint and coatings, and metal blade studs, is expected to generate $37 billion in sales from 2017 to 2026.
The report, from Navigant Research, indicated the market will stay healthy due to rapid research and development, improved manufacturing processes and advanced materials which will make wind turbines more efficient, increase production and lower the cost of energy.
“The wind blade materials market is one of the most competitive, dynamic, and strategically important parts of the wind turbine supply chain,” says Jesse Broehl, senior research analyst with Navigant Research. “Many materials suppliers are competing to meet or ideally exceed the demands of the wind turbine manufacturers and independent wind blade manufacturers.”
However, high growth is not expected to happen globally over the next decade, as the U.S. and China are currently in a state of peak installation, which will place downward pressure on the outlook.
As of this year, the current estimated value of the wind blades market is $4.75 billion for 2017.