According to Composite Insights’ latest market study, consumption of composite materials are forecast to continue the same growth momentum in the fabrication of fiber-reinforced plastic (FRP) products in the Indian Wind Energy Industry. Although the market for composite materials in Indian Wind Energy Industry is relatively small, the growth rate is high compared to the growth rate in China and the USA.
In 2011 India was the third largest wind market in the world, with over 3200 MW capacity addition. It is estimated by Composite Insights that India will continue to add new wind capacity between 3,000 MW and 6,000 MW annually through to 2017.
There is an increasing trend towards the larger blades during the past five years and it is expect to continue the same trend. Wind Turbines with more than 75-meter rotor dia have gained momentum and the segment share has reached to an estimated 52.9% in 2011 in terms of MW installed. Following domestic and export demand growth for wind turbine blades, nacelle covers and nose cones, the demand for composite materials in the Indian Wind Energy industry is expect to cross 200 million lbs in 2017 in terms of volume shipments.
The report highlights the opportunities for composite materials in Indian Wind Energy Industry; provides current and future demand for various raw materials.