Over the last five years, the global wind composites material market has been growing at a rapid rate, and it is expected to keep this up reaching USD 5.5 billion by 2016 with a CAGR of 16% from 2011 through 2016. Glass fiber is expected to remain the largest market, followed by epoxy. Other material markets like coatings are expected to get ahead. Carbon fiber is likely to remain the smallest sector, but its growth opportunities remain promising due to its light weight and other advantageous material properties for wind energy applications.
The booming wind industry is a key driver for growth in new materials for wind energy applications owing to strong demand for new blades and increased consumption of wind blade raw materials.