Irving, TX (PressExposure) July 21, 2014 -- The growing wind energy market has been a key driver for the growth of composite materials market. The demand for wind energy across the globe has transformed wind turbine blades into one of the booming composite materials application. Composite materials consumption in wind energy market is expected to witness robust growth and reach an estimated US $4.3 billion by 2018. Advantage of corrosion resistance, high strength-to-weight ratio, low maintenance, and a longer lifecycle as compared to other materials such as aluminium and steel gives composites an edge over traditional materials.
Lucintel, a leading global management consulting and market research firm, has conducted a competitive analysis on this market and presents its findings in "Growth Opportunities for Composite Materials in Global Wind Energy Market 2013-2018: Materials, Market and Technology." This report gives insights of the market trend (2007-2012) and forecast period (2013-2018), elaborates major drivers, and challenges which will help companies identify their strengths and find whether they are able to cope up with the challenges and competition in the market.
Asia Pacific region has been the major consumer of composite materials in wind energy with increasing number of new installations especially in China and India wind market and over the last five years, the demand of this intermediate material rose sharply. Increasing new installations and extension of tax credit policies in the US helped to boost the demand for composite materials in wind energy in North America, whereas increasing growth of offshore wind market in European region played major role in the growth of composite materials market. Significant growth for applications of composite materials is likely to take place in near future particularly in the Asia Pacific and North America market, with increasing demand for wind energy.
The report includes analysis of the wind energy market of different regions, wind blade market, and composite materials consumption in wind energy market. It also gives insights of emerging trends, unmet needs, and growth opportunities in those markets. This report provides innovations in the market and expert opinion. It also provides competitive analysis of major wind turbine and blade manufacturers who can be prospective customers of composite materials manufacturers.
Lucintel provides various market reports on Carbon Fiber Market, Composite Materials Market Report, Chemical Composites Report etc.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at email@example.com. Lucintel offers a broad range of Industry Research Reports, Market Research Reports, and Management Consulting services.