South & Central America Wind Turbine Composites Market Forecast to 2030 - Regional Analysis - by Fiber Type (Carbon Fiber Composites, Glass Fiber Composites, and Others), Resin Type (Polyester, Epoxy, Polyurethane, Vinyl Ester, and Others), Technology (Resin Infusion, Prepreg, Lay Up, and Others), and Application (Blades and Nacelles)
The South & Central America wind turbine composites market was valued at US$ 325.87 million in 2022 and is expected to reach US$ 666.04 million by 2030; it is estimated to grow at a CAGR of 9.3% from 2022 to 2030.
Adoption of Natural Fiber Reinforced Polymer (NFRP) Composites Fuels South & Central America Wind Turbine Composites Market
A wind turbine consists of several parts such as a hub, gearbox, blades, nacelle, and tower, among which wind turbine blades and nacelle are generally composed of composite materials, including glass and carbon fibers. However, these kinds of fibers are often associated with a certain set of limitations, which include their availability, nonbiodegradability, harmful impact on health, and the fabrication cost involved. The use of natural fibers can overcome all these challenges. The growing environmental issues have shifted the attention of researchers and technologists to the use of natural biodegradable materials, which has bolstered the use of natural fiber-reinforced polymer (NFRP) composites in wind turbine manufacturing.
Natural fibers are defined as those substances which are made from plants, animals, and minerals with the help of geological processes. Natural fibers obtained from kenaf, bagasse, banana, sisal, flax, hemp, jute, abaca, and bamboo are easily available and need low processing costs. They can be spun together into filaments, threads, or ropes and can be knitted, woven, or matted. The characteristic features of natural fibers might vary considerably according to their chemical composition and structure; fiber type; and fiber’s growing conditions, harvesting time, manufacturing method, treatment, and storage processes. Such reinforced composites form a class of materials that exhibit superior mechanical features as well as potentially replace the conventional material systems in wind turbines. The NFRP composites possess certain advantages as compared to synthetic fiber-reinforced composites. These benefits include low density, minimal cost, nonabrasive features, biodegradability, and renewable nature. Hence, the rising concern and awareness about the social and environmental impacts of conventional materials are resulting in the shift toward environment-friendly materials by manufacturers of composites, which is expected to fuel the South & Central America wind turbine composites market growth during the forecast period.
South & Central America Wind Turbine Composites Market Overview
The South & Central America wind turbine composites market in South & Central America is segmented into Brazil, Argentina, and the Rest of South & Central America. Increasing installed wind capacity and elevating investments in wind energy projects are among the factors driving the market growth in South & Central America. Brazil is a key market for wind turbine composites in the region. The country has planned ~86 onshore wind projects for the next five years. Bahia, Rio Grande do Norte, the Rio Grande do Sul, and Piauí are among the states at forefront of investing significant resources in onshore wind energy projects. The onshore wind projects in Brazil that are scheduled to start operating in 2023 include Lagoa dos Ventos Wind Farm Complex, Cajuina Wind Farm Complex, and Anemus Wind Farm. According to the Argentinian Secretary of Energy, renewables accounted for 13% of the country's power mix in 2021, compared to 10% in 2020. In 2021, the government commissioned 26 large-scale renewable projects, adding 1,005 MW to its national grid. Also, 24% of the new renewables capacity was added in 2021 compared to 2020, which was dominated by wind (42%), bioenergy (31%), solar photovoltaic (PV, 15%), and small hydro (12%), collectively representing 97% of the new capacity additions in 2021. Chile is focused on increasing wind installed capacity. Thus, increasing wind installed capacity and rising investments in wind energy projects bolster the South & Central America wind turbine composites market growth in South & Central America.
South & Central America Wind Turbine Composites Market Revenue and Forecast to 2030 (US$ Million)
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South & Central America Wind Turbine Composites Market Segmentation
The South & Central America wind turbine composites market is segmented based on fiber type, resin type, technology, application, and country.
Based on fiber type, the South & Central America wind turbine composites market is segmented into carbon fiber composites, glass fiber composites, and others. The glass fiber composites segment held a larger share in 2022.
In terms of resin type, the South & Central America wind turbine composites market is segmented into polyester, epoxy, polyurethane, vinyl ester, and others. The epoxy segment held the largest share in 2022.
Based on technology, the South & Central America wind turbine composites market is segmented into resin infusion, prepreg, lay up, and others. The resin infusion segment held the largest share in 2022.
By application, the South & Central America wind turbine composites market is bifurcated into blades and nacelles. The blades segment held a larger share in 2022.
Based on country, the South & Central America wind turbine composites market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the South & Central America wind turbine composites market in 2022.
Avient Corp, Toray Industries Inc, SGL Carbon SE, Owens Corning, Covestro AG, Hexion Inc, and Hexcel Corp are some of the leading companies operating in the South & Central America wind turbine composites market.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
2.2.1 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South & Central America Wind Turbine Composites Market Landscape
4.1 Overview
4.2 Porters Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Wind Turbine Composites Manufacturers
4.3.3 Distributors/Suppliers
4.3.4 End-Users and Original Equipment Manufacturers
5. South & Central America Wind Turbine Composites Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Installation Rate of Wind Turbine Capacity
5.1.2 Increasing Length of Wind Turbine Blades
5.2 Market Restraints
5.2.1 High Dependence of Wind Energy Industry on Government Subsidies
5.3 Market Opportunities
5.3.1 Government Initiatives for Development of Wind Energy Sector
5.4 Future Trends
5.4.1 Adoption of Natural Fiber Reinforced Polymer (NFRP) Composites
5.5 Impact Analysis
6. Wind Turbine Composites Market - South & Central America Market Analysis
6.1 South & Central America Wind Turbine Composites Market Volume (Kilo Tons)
6.2 South & Central America Wind Turbine Composites Market Revenue (US$ Million)
6.3 South & Central America Wind Turbine Composites Market Forecast and Analysis
7. South & Central America Wind Turbine Composites Market Analysis - Fiber Type
7.1 Carbon Fiber Composites
7.1.1 Overview
7.1.2 Carbon Fiber Composites Market Volume and Forecast to 2030 (Kilo Tons)
7.1.3 Carbon Fiber Composites Market Revenue and Forecast to 2030 (US$ Million)
7.2 Glass Fiber Composites
7.2.1 Overview
7.2.2 Glass Fiber Composites Market Volume and Forecast to 2030 (Kilo Tons)
7.2.3 Glass Fiber Composites Market Revenue and Forecast to 2030 (US$ Million)
7.3 Others
7.3.1 Overview
7.3.2 Others Market Volume and Forecast to 2030 (Kilo Tons)
7.3.3 Others Market Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Wind Turbine Composites Market Analysis – Resin Type
8.1 Polyester
8.1.1 Overview
8.1.2 Polyester Market Revenue and Forecast to 2030 (US$ Million)
8.2 Epoxy
8.2.1 Overview
8.2.2 Epoxy Market Revenue and Forecast to 2030 (US$ Million)
8.3 Polyurethane
8.3.1 Overview
8.3.2 Polyurethane Market Revenue and Forecast to 2030 (US$ Million)
8.4 Vinyl Ester
8.4.1 Overview
8.4.2 Vinyl Ester Market Revenue and Forecast to 2030 (US$ Million)
8.5 Others
8.5.1 Overview
8.5.2 Others Market Revenue and Forecast to 2030 (US$ Million)
9. South & Central America Wind Turbine Composites Market Analysis - Technology
9.1 Resin Infusion
9.1.1 Overview
9.1.2 Resin Infusion Market Revenue and Forecast to 2030 (US$ Million)
9.2 Prepreg
9.2.1 Overview
9.2.2 Prepreg Market Revenue and Forecast to 2030 (US$ Million)
9.3 Lay Up
9.3.1 Overview
9.3.2 Lay Up Market Revenue and Forecast to 2030 (US$ Million)
9.4 Others
9.4.1 Overview
9.4.2 Others Market Revenue and Forecast to 2030 (US$ Million)
10. South & Central America Wind Turbine Composites Market Analysis - Application
10.1 Blades
10.1.1 Overview
10.1.2 Blades Market, Revenue, and Forecast to 2030 (US$ Million)
10.2 Nacelles
10.2.1 Overview
10.2.2 Nacelles Market Revenue, and Forecast to 2030 (US$ Million)
11. South & Central America Wind Turbine Composites Market - Country Analysis
11.1 South & Central America
11.1.1 Wind Turbine Composites Market Breakdown by Country
11.1.2 Brazil Wind Turbine Composites Market Volume and Forecasts to 2030 (Kilo Tons)
11.1.3 Brazil Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million)
11.1.3.1 Brazil Wind Turbine Composites Market Breakdown by Fiber Type
11.1.3.2 Brazil Wind Turbine Composites Market Breakdown by Resin Type
11.1.3.3 Brazil Wind Turbine Composites Market Breakdown by Technology
11.1.3.4 Brazil Wind Turbine Composites Market Breakdown by Application
11.1.4 Argentina Wind Turbine Composites Market Volume and Forecasts to 2030 (Kilo Tons)
11.1.5 Argentina Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million)
11.1.5.1 Argentina Wind Turbine Composites Market Breakdown by Fiber Type
11.1.5.2 Argentina Wind Turbine Composites Market Breakdown by Resin Type
11.1.5.3 Argentina Wind Turbine Composites Market Breakdown by Technology
11.1.5.4 Argentina Wind Turbine Composites Market Breakdown by Application
11.1.6 Rest of South & Central America Wind Turbine Composites Market Volume and Forecasts to 2030 (Kilo Tons)
11.1.7 Rest of South & Central America Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million)
11.1.7.1 Rest of South & Central America Wind Turbine Composites Market Breakdown by Fiber Type
11.1.7.2 Rest of South & Central America Wind Turbine Composites Market Breakdown by Resin Type
11.1.7.3 Rest of South & Central America Wind Turbine Composites Market Breakdown by Technology
11.1.7.4 Rest of South & Central America Wind Turbine Composites Market Breakdown by Application
12. Competitive Landscape
12.1 Heat Map Analysis By Key Players
13. Industry Landscape
13.1 Overview
13.2 Merger and Acquisition
13.3 Partnerships
14. Company Profiles
14.1 Avient Corp
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 Toray Industries Inc
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 SGL Carbon SE
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 Owens Corning
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Covestro AG
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Hexion Inc
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 Hexcel Corp
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
15. Appendix
List of Tables
Table 1. South & Central America Wind Turbine Composites Market Segmentation
Table 2. South & Central America Wind Turbine Composites Market Volume and Forecasts To 2030 (Kilo Tons)
Table 3. South & Central America Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million)
Table 4. Brazil Wind Turbine Composites Market Volume and Forecasts To 2030 (Kilo Tons) – By Fiber Type
Table 5. Brazil Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Fiber Type
Table 6. Brazil Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Resin Type
Table 7. Brazil Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Technology
Table 8. Brazil Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 9. Argentina Wind Turbine Composites Market Volume and Forecasts To 2030 (Kilo Tons) – By Fiber Type
Table 10. Argentina Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Fiber Type
Table 11. Argentina Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Resin Type
Table 12. Argentina Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Technology
Table 13. Argentina Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 14. Rest of South & Central America Wind Turbine Composites Market Volume and Forecasts To 2030 (Kilo Tons) – By Fiber Type
Table 15. Rest of South & Central America Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Fiber Type
Table 16. Rest of South & Central America Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Resin Type
Table 17. Rest of South & Central America Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Technology
Table 18. Rest of South & Central America Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million) – By Application
Table 19. Company Positioning & Concentration
List of Figures
Figure 1. South & Central America Wind Turbine Composites Market Segmentation, By Country
Figure 2. South & Central America Wind Turbine Composites Market – Porter's Analysis
Figure 3. Ecosystem: South & Central America Wind Turbine Composites Market
Figure 4. Market Dynamics: South & Central America Wind Turbine Composites Market
Figure 4. Historic Development of New Installations (GW)
Figure 5. New Wind Power Capacity in 2022, by Region (%)
Figure 6. South & Central America Wind Turbine Composites Market Impact Analysis of Drivers and Restraints
Figure 7. South & Central America Wind Turbine Composites Market Volume (Kilo Tons), 2020 – 2030
Figure 8. South & Central America Wind Turbine Composites Market Revenue (US$ Million), 2020 – 2030
Figure 9. South & Central America Wind Turbine Composites Market Share (%) – Fiber Type, 2022 and 2030
Figure 10. Carbon Fiber Composites Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 11. Carbon Fiber Composites Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Glass Fiber Composites Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 13. Glass Fiber Composites Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Others Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 15. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. South & Central America Wind Turbine Composites Market Share (%) – Resin Type, 2022 and 2030
Figure 17. Polyester Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Epoxy Market Revenue and Forecasts to 2030 (US$ Million)
Figure 19. Polyurethane Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Vinyl Ester Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. South & Central America Wind Turbine Composites Market Share (%) – Technology, 2022 and 2030
Figure 23. Resin Infusion Market Revenue and Forecasts to 2030 (US$ Million)
Figure 24. Prepreg Market Revenue and Forecasts to 2030 (US$ Million)
Figure 25. Lay Up Market Revenue and Forecasts to 2030 (US$ Million)
Figure 26. Others Market Revenue and Forecasts to 2030 (US$ Million)
Figure 27. South & Central America Wind Turbine Composites Market Share (%) – Application, 2022 and 2030
Figure 28. Blades Market Revenue and Forecasts to 2030 (US$ Million)
Figure 29. Nacelles Market Revenue and Forecasts to 2030 (US$ Million)
Figure 30. South & Central America Wind Turbine Composites Market, By Key Country - Revenue (2022) (US$ Million)
Figure 31. South & Central America Wind Turbine Composites Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 32. Brazil Wind Turbine Composites Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 33. Brazil Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million)
Figure 34. Argentina Wind Turbine Composites Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 35. Argentina Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million)
Figure 36. Rest of South & Central America Wind Turbine Composites Market Volume and Forecasts To 2030 (Kilo Tons)
Figure 37. Rest of South & Central America Wind Turbine Composites Market Revenue and Forecasts to 2030 (US$ Million)
- Avient Corp
- Toray Industries Inc
- SGL Carbon SE
- Owens Corning
- Covestro AG
- Hexion Inc
- Hexcel Corp
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the South & Central America wind turbine composites market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
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- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth South & Central America market trends and outlook coupled with the factors driving the wind turbine composites market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.