Consumption of composite materials in wind energy market is forecasted to reach $4.3bn by 2018, according to a study from global management consulting and market research firm Lucintel.
The report ‘Growth Opportunities for Composite Materials in Global Wind Energy Market 2013?2018: Materials, Market and Technology’ analyzed the wind energy market in each region, wind blade market.
Designed for use by new entrants, manufacturers, material suppliers, component or structure fabricators, OEMs, investors, executives and consultants focused on the wind energy industry, it also gives insights of emerging trends, unmet needs, and growth opportunities.
Huge demand for lightweight and efficient products had been driving the growth of composite materials in wind energy market, the report revealed.
In terms of total composite consumption, Asia Pacific tops the list followed by North America and Europe.
Rest of World witnessed steep growth rate due to rapidly increasing demand in the region.