Global Epoxy Resin In Wind Energy Market Size By Type (Hand Lay Resin, Infusion Resin), By Application (<2.0 MW, 2.0-3.0 MW), By Geographic Scope And Forecast

Epoxy Resin In Wind Energy Market Size And Forecast

Epoxy Resin In Wind Energy Market size was valued at USD 11.9 Billion in 2023 and is projected to reach USD 16.0 Billion by 2030, growing at a CAGR of 4.5% during the forecasted period 2024 to 2030.

Epoxy resin is used in a wide range of industrial applications. It outperforms other types of resin in terms of mechanical qualities, as well as heat and chemical resistance. As a result, it is used in the manufacture of airplane components and turbine operations. Epoxy resins are largely employed in composites and adhesives needed to produce wind rotor blades and other structural elements are the major drivers for the growth of epoxy resins in the wind energy market. The Global Epoxy Resin In Wind Energy Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Epoxy Resin In Wind Energy Market Definition

Epoxy resin is a thermosetting polymer material that is usually available in liquid form, solution form, and solid form. Epoxy resins are produced from epoxy monomers called glycidyl-based epoxy resins. This hydroxy group is generally derived from aliphatic diols, polyols, phenolic compounds, or dicarboxylic acids. Epoxy resins are polymeric or semi-polymeric materials or an oligomer, and as such, it rarely exists as pure substances, due to the variable chain length that results from the polymerization reaction.

Epoxy resins are usually known for their durable nature and the majority of epoxy resins are derived from petroleum. The majority of epoxy resins found in the energy sector are used in wind turbines at a wide range. Due to the development of large and extra-large wind turbines, epoxy resins replaced polyester and are now used most often as matrices of wind blade composites.

Global Epoxy Resin In Wind Energy Market Overview

In the report, the market overview section mainly encompasses fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

Epoxy resins are largely employed in composites and adhesives needed to produce wind rotor blades and other structural elements are the major factor driving the growth of Epoxy Resin In the Wind Energy Market. Epoxy resin is most frequently combined with fiber materials such as glass and carbon fiber to produce wind blades. Thus the factor like epoxy resins also used to coat and protect other parts including turbine insulators, stator end windings or field coils for rotor brackets are also contributing to the overall growth of Epoxy Resins in The Wind Energy Market.

Despite having various advantages of epoxy resin in wind energy, some factors restrain and challenge the growth of the overall market. The average lifetime of a wind turbine is around 20 years, although good maintenance practices can extend the lifespan of wind turbines. The rotor blade bodies are coated with layers of materials other than epoxy which may protect them from adverse weathering conditions such as rain, ice, sand, sunlight, speed, etc. can hamper the growth of Epoxy Resin In Wind Energy Market in the forecast period.

Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The “Global Epoxy Resin In Wind Energy Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Global Epoxy Resin In Wind Energy Market Segmentation Analysis

The Global Epoxy Resin In Wind Energy Market is segmented on the basis of Type, Application, And Geography.

Epoxy Resin In Wind Energy Market, By Type

• Hand Lay Resin• Infusion Resin• Epoxy Structural Adhesive• Others

Based on Type, The market is bifurcated into Hand Lay Resin, Infusion Resin, Epoxy Structural Adhesive, And Others. Memory Foam is projected to increase the most during the forecasted period owing to its comforts, and soft material.

Epoxy Resin In Wind Energy Market, By Application

• <2.0 MW• 2.0-3.0 MW• 3.0-5.0 MW• >5.0 MW

Based on Application, The market is bifurcated into <2.0 MW, 2.0-3.0 MW, 3.0-5.0 MW, and >5.0 MW. Shaped is projected to increase the most during the forecasted period owing to high adoption by pregnant women and used in households widely.

Epoxy Resin In Wind Energy Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

On the basis of Geography, The Global Epoxy Resin In Wind Energy Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The Asia Pacific region is expected to increase the most compared to other regions during the forecasted period owing to increasing infrastructure and wind energy production, a huge number of producers and customers of epoxy, and rising investments in wind energy.

Key Players

The “Global Epoxy Resin In Wind Energy Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players in the market are Olin Corporation, Guangdong Broadwin, Swancor, Hexion, BASF, Huntsman, Shanghai Kangda New Materials, Wells Advanced Materials, Dasen Materials Technology, and Sichuan Dongshu New Materials. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In February 2022, The worldwide epoxy business of Hexion Inc., a leading global producer of coatings and composites used in wind turbine blades and automotive structural components, was acquired by Westlake Company.

Report Scope

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes an in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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