Foam Core in the Wind Market Trends and forecast
The future of the foam core in the global wind market looks promising with opportunities for rotor blade and others markets. The foam core in the global wind market is expected to grow with a CAGR of 9.0% from 2024 to 2030. The major drivers for this market are increasing demand for lightweight materials in wind turbines, growth of wind energy projects, and rise in demand for offshore wind farms.
• Lucintel forecasts that PVC is expected to witness the highest growth over the forecast period.
• Within this market, rotor blade will remain the largest segment.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for Foam Core in the Wind Market
• United States: In the United States, Gurit announced plans to expand its production capacity for foam core materials used in wind turbine blades at its facility in North Carolina. The company aims to meet the increasing demand for lightweight and high-performance foam cores in the wind energy sector. Gurit set targets to increase production by 30% over the next three years, supported by government incentives for renewable energy projects.
• India: In India, Suzlon Energy Limited disclosed its strategy to collaborate with local manufacturers to develop indigenous foam core materials for wind turbine blades. The company's initiative aligns with the Indian government's renewable energy targets and 'Make in India' initiative. Suzlon aims to reduce dependency on imported foam cores and promote domestic manufacturing capabilities. The company set targets to achieve a 20% cost reduction in foam core materials by 2023.
• China: In China, Goldwind announced plans to invest in research and development of innovative foam core materials for wind turbine blades. The company aims to enhance blade performance and reliability to meet the growing demand for renewable energy solutions. Goldwind set targets to increase the adoption of foam core technology in its wind turbine manufacturing processes by 25% by 2025, supported by government subsidies for clean energy initiatives.
• Germany: In Germany, Covestro AG unveiled plans to collaborate with leading research institutions to develop next-generation foam core materials for wind turbine blades. The company's initiative focuses on improving material properties such as strength, stiffness, and fatigue resistance to optimize blade performance and extend service life. Covestro set targets to commercialize advanced foam core solutions by 2024, supported by government funding for research and development projects.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Foam Core in the Wind Market by Segment
The study includes a forecast of foam core in the global wind market by product type, application, and region.
Foam Core in the Wind Market by Product Type [Value from 2018 to 2030]:
• PVC
• PET
• SAN
• Others
Foam Core in the Wind Market by Application [Value from 2018 to 2030]:
• Rotor Blade
• Others
Foam Core in the Wind Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Foam Core 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 foam core 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 foam core companies in the wind market profiled in this report include-
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Recent Development of Foam Core in the Wind Market
• Hexcel Corporation: Hexcel Corporation announced the launch of a new foam core material specifically designed for wind turbine blades. The company's initiative focuses on enhancing material properties such as stiffness, durability, and weight reduction to improve overall blade performance. Hexcel's foam core material offers significant advantages in terms of structural integrity and energy efficiency, contributing to the advancement of wind energy technology.
• DIAB Group: DIAB Group introduced a novel foam core formulation tailored for large-scale wind turbine blades. The company's initiative emphasizes lightweight construction, ease of processing, and compatibility with resin systems to optimize blade manufacturing processes. DIAB's foam core solution enables manufacturers to achieve higher productivity and cost-effectiveness while meeting stringent performance requirements for wind turbine applications.
• 3A Composites: 3A Composites unveiled a breakthrough foam core technology for next-generation wind turbine blades. The company's initiative involves the development of innovative composite materials with enhanced mechanical properties and environmental sustainability. 3A Composites' foam core solution offers superior strength-to-weight ratio, weather resistance, and recyclability, addressing the growing demand for eco-friendly solutions in the wind energy sector.
• Armacell: Armacell announced the introduction of a high-performance foam core material for wind turbine blade manufacturing. The company's initiative focuses on improving material properties such as thermal stability, moisture resistance, and fire retardancy to ensure long-term reliability and safety in harsh operating conditions. Armacell's foam core solution provides superior insulation properties and structural integrity, contributing to the efficiency and durability of wind turbines.
Features of Foam Core in the Global Wind Market
Market Size Estimates: Foam core in the wind market size estimation in terms of value ($B).
Trend and forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Foam core in the wind market size by product type, application, and region in terms of value ($B).
Regional Analysis: Foam core 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, applications, and regions of the foam core in the wind market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the foam core in the wind market.
Analysis of competitive intensity of the industry based on Porter’s Five forces model.
Preguntas frecuentes
Q1. What is the growth forecast for foam core in the wind market?
Answer: The foam core in the global wind market is expected to grow with a CAGR of 9.0% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the foam core in the wind market?
Answer: The major drivers for this market are increasing demand for lightweight materials in wind turbines, growth of wind energy projects, and rise in demand for offshore wind farms.
Q3. What are the major segments for foam core in the wind market?
Answer: The future of the foam core in the wind market looks promising with opportunities for rotor blade and others markets.
Q4. Who are the key foam core companies for the wind industry?
Answer: Some of the key foam core companies in the wind market are as follows:
• Company 1
• Company 2
• Company 3
• Company 4
• Company 5
Q5. Which foam core in the wind market segment will be the largest in future?
Answer: Lucintel forecasts that PVC is expected to witness the highest growth over the forecast period.
Q6. In foam core 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 for foam core in the wind market by product type (PVC, PET, SAN, and others), application (rotor blade and others), 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?
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