Carbon Fiber in the Wind Market Trends and Forecast
The future of carbon fiber in the global wind market looks promising with opportunities in the blade and nacelle markets. Carbon fiber in the global wind market is expected to grow with a CAGR of 8.0% from 2024 to 2030. The major drivers for this market are increasing turbine size and efficiency, growing focus on reducing the environmental footprint of wind turbine manufacturing and operation, as well as, cost reduction and lifecycle performance.
• Lucintel forecasts that PAN based is expected to witness higher growth over the forecast period.
• Within this market, blade is expected to witness higher growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for Carbon Fiber in the Wind Market
• United States: Leading wind turbine manufacturers like GE Renewable Energy and Siemens Gamesa announced aggressive targets to increase the use of carbon fiber in wind turbine blades, supported by federal incentives for renewable energy innovation.
• China: Government-backed initiatives aimed at reducing carbon emissions have spurred domestic companies like Goldwind and Mingyang Smart Energy to invest heavily in R&D for carbon fiber technology in wind turbine production.
• Germany: Companies such as Nordex and Senvion are collaborating with research institutions to develop lightweight carbon fiber materials, aligning with the government's ambitious renewable energy targets outlined in the Energiewende policy.
• India: With a focus on expanding its wind energy capacity, Indian companies like Suzlon and Vestas are setting goals to incorporate more carbon fiber components into wind turbines, supported by government subsidies and favorable regulatory frameworks for renewable energy.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Carbon Fiber in the Wind Market by Segment
The study includes a forecast of carbon fiber in the global wind market by product type, tow size, modulus, application, and region.
Carbon Fiber in the Wind Market by Product Type [Value from 2018 to 2030]:
• PAN Based
• Pitch Based
Carbon Fiber in the Wind Market by Tow Size [Value from 2018 to 2030]:
• Small Tow (<=24k)
• Large Tow (>24k)
Carbon Fiber in the Wind Market by Modulus [Value from 2018 to 2030]:
• Standard Modulus
• Intermediate Modulus
• High Modulus
Carbon Fiber in the Wind Market by Application [Value from 2018 to 2030]:
• Blades
• Nacelles
Carbon Fiber in the Wind Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Carbon Fiber Companies in the Wind Market
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies carbon fiber companies in the wind market cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of carbon fiber companies in the wind market are profiled in this report include-
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Recent Development of Carbon Fiber in the Wind Market
• Hexcel Corporation: Hexcel introduces new carbon fiber solutions for wind turbine blades, enhancing durability and efficiency. The company's innovative carbon fiber technology aims to address the growing demand for lightweight yet robust materials in wind energy applications.
• Toray Industries Inc.: Toray collaborates with wind turbine manufacturers to develop high-performance carbon fiber composites optimized for offshore wind farms. Their initiative focuses on improving the structural integrity and longevity of wind turbine components, contributing to the expansion of offshore wind energy capacity.
• Mitsubishi Chemical Corporation: Mitsubishi Chemical invests in R&D to produce advanced carbon fiber materials tailored for next-generation wind turbine designs. Their development efforts target increased strength-to-weight ratios, enabling taller and more efficient wind turbines to harness stronger winds at higher altitudes.
• Teijin Limited: Teijin pioneers the use of recycled carbon fiber composites in wind turbine blade manufacturing, promoting sustainability and circularity in the renewable energy sector. By repurposing carbon fiber waste, Teijin reduces environmental impact while maintaining performance and reliability in wind turbine applications.
• SGL Carbon SE: SGL Carbon partners with wind energy developers to optimize the design and production processes of carbon fiber-reinforced components for wind turbines. Through continuous innovation and collaboration, SGL Carbon aims to drive down costs and accelerate the adoption of carbon fiber technology in the wind industry.
Features of Carbon Fiber in the Global Wind Market
Market Size Estimates: Carbon fiber in the wind market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Carbon fiber in the wind market size by various segments, such as product type, tow size, modulus, application, and region in terms of value ($B).
Regional Analysis: Carbon fiber in the wind market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different product types, tow sizes, modulus, applications, and regions of carbon fiber in the wind market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of carbon fiber in the wind market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast of carbon fiber in the wind market?
Answer: Carbon fiber in the global wind market is expected to grow with a CAGR of 8.0% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of carbon fiber in the wind market?
Answer: The major drivers for this market are increasing turbine size and efficiency, growing focus on reducing the environmental footprint of wind turbine manufacturing and operation, as well as, cost reduction and lifecycle performance.
Q3. What are the major segments of carbon fiber in the wind market?
Answer: The future of carbon fiber in the global wind market looks promising with opportunities in the blade and nacelle markets.
Q4. Who are the key carbon fiber companies in the wind market?
Answer: Some of the key carbon fiber companies in the wind market are as follows:
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Q5. Which carbon fiber in the wind market segment will be the largest in future?
Answer: Lucintel forecasts that PAN based is expected to witness higher growth over the forecast period.
Q6. In carbon fiber in the wind market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities of carbon fiber in the wind market by product type (PAN based and pitch based), tow size (small tow (<=24k) and large tow (>24k)), modulus (standard modulus, intermediate modulus, and high modulus), application (blades and nacelles), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Carbon Fiber in the Wind Market Market, Carbon Fiber in the Wind Market Market Size, Carbon Fiber in the Wind Market Market Growth, Carbon Fiber in the Wind Market Market Analysis, Carbon Fiber in the Wind Market Market Report, Carbon Fiber in the Wind Market Market Share, Carbon Fiber in the Wind Market Market Trends, Carbon Fiber in the Wind Market Market Forecast, Carbon Fiber in the Wind Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.