Wind energy is a rapidly growing market segment of the composites industry. It is the fastest growing energy sector. On average, the global wind energy market has grown over 25% annually over the last ten years. Wind energy new capacity installations worldwide have surged from 39,778 MW in 2003 to 121,613 MW at the end of 2008, representing on an average of 25.5% increase during that time period. The wind energy market is expected to grow at an average rate of 14% per year in terms of new capacity installation in next 5 years. A growing sensitivity for the environment and depleting reserves of fossil fuels are all fueling the growth of wind energy in the 21st century.The wind energy market provides great opportunities to product manufacturers (gear box, tower, blade, generator, etc.) as well as material suppliers of the composites industry to expand their businesses. As the global wind energy market continues to grow, it is important to know which regions have continued to show growth despite the supply chain issues and rising costs. In addition, it is important to know the market size for materials for the next five years. According to this report, market for composite materials is estimated to reach $3.95 billion by 2014. Wind turbines require the manufacture of large rotor blades, nacelles and other components using wet lay-up, VARTM, prepreg lay-up and other processes.

The report titled “Global Composites Market 2009-2014” provides all the valuable information and tools that you may need in operating your business successfully in the wind energy market. In today’s global economy, you need every advantage that you can find to keep you ahead in your business. Learn about current and future trends, identify key players, and explore the directions that the wind energy market is heading for. The reports believed that construction, automotive and marine were market segments that were badly hit in 2008 due to recession in industrialized nations and Lucintel is of the view that the decline in several market segments will continue in 2009. Composites shipment in wind energy, and pipe and tank continued to grow at a healthy rate and, according to Lucintel estimates, holds strong promise, albeit at lower rates, during 2009-2014. Asia emerged as the largest regional market in terms of composites shipment in 2008 replacing North America and is expected to maintain its leadership helped by the growing economies of China and India. The global liquidity crunch, low consumer spending and low business confidence continues to affecteconomies across the world and the decline in composites industry reflects that decline. Lucintel is of the view that economic situation will improve towards the end of 2009 but will take effect in 2010 as stimulus packages in major economies such as the US and China are expected to put the global economy once again into a growth trajectory.

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