[314 Pages] The global wind power coatings market grew year-over-year by 9.7% between 2020 and 2021. Growing demand for wind turbines across the globe owing to governmental initiatives undertaken to promote power generation from wind energy are expected to elevate the demand for wind power coatings between 2021 and 2031.
The global wind power coatings market is estimated to expand a11.3% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent market analysis. Increasing focus on alternate sources of energy has led to surge in wind turbine installation worldwide. This has in turn created conducive environment for sales of wind power coatings.
The installation of wind turbines has risen in tandem with the demand for cleaner energy sources. Application of wind power coatings is the essential step within wind turbine manufacturing. Besides protecting such a large and costly structure, wind power coatings also ascertain longer life span of wind turbines protecting them from corrosion, erosion, and wear and tear.
However, application of wind power coatings require skilled labor and advance equipment. Unavailability of the same could hamper growth of the market.
- Global wind power coatings market value is expected to surpass US$ 3.5 Bn by the end of the forecast period.
- The onshore coatings segment is expected to register maximum sales.
- East Asia is expected to be the dominant region in terms of production and consumption of wind power coatings.
- Demand from Japan and China will support sales of wind power coatings in East Asia.
- Demand in the U.S. will grow by 9.8% year-on-year in 2021 backed by surging focus on expanding the renewable energy infrastructure.
- The U.K. and Germany will emerge as highly lucrative market for sales of wind power coatings within Europe.
“In order to gain competitive edge, the market players are eyeing at strategic collaboration. Besides this, they are expanding their portfolio to include coatings with advanced features. This is expected to aid the expansion of the market in the coming years,” says an FMI analyst.
Key manufacturers of wind power coatings Includes Hempel A/S, PPG Industries, Inc., Covestro AG, Akzo Nobel N.V., BASF, The Sherwin-Williams Company, Jotun Group, Teknos Group Oy, 3M, Sika AG, Thomas Industrial Coatings, Mankiewicz Gebr. & Co. (GmbH & Co. KG), Bergolin GmbH & Co. KG, Duromar, Inc. and others.
More Insights into the Wind Power Coatings Market Report
In its latest report, FMI offers an unbiased analysis of the global wind power coatings market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of type, coating method, application, utilization, and Region
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- Polymer Coatings
- Ceramic Coatings
- Metal Coatings
By Coating Method
- Offshore Blade
- Offshore Tower
- Offshore Interior
- Offshore Turbine Foundation
- Onshore Blade
- Onshore Tower
- Onshore Interior
- Onshore Turbine Foundation
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.