Wind Power Coatings Market By Type (Polymer Coatings, Ceramic Coatings, Metal Coatings), Coating Method (Spray, Roller), Application (Offshore, Onshore), Utilization (OEM, Maintenance), and Region for 2021 - 2031
Wind Power Coatings Market - Analysis, Outlook, Growth, Trends, Forecasts
- December 2021
- 314 pages
- Chemicals & Materials
Wind Power Coatings Market Outlook – 2021-2031
[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.
Wind Power Coatings Market Size (2020A)
US$ 1.09 Bn
Wind Power Coatings Market Estimated Year Value (2021 E)
US$ 1.2 Bn
Wind Power Coatings Market Projected Market Value (2031F)
US$ 3.5 Bn
Value CAGR (2021-2031)
Collective Value Share: Top 3 Countries (2021)
As per the latest study conducted by Future Market Insights (FMI), sales of wind power coatings has contributed around 0.5% demand in the overall industrial paints and coatings revenue in 2021. Meanwhile, the sales of industrial paints and coatings is expected to contribute around 58.6% in overall paints and coatings market size.
FMI also forecasts the global wind power coatings market size to total US$ 3.5 Bn by 2031, at a CAGR of 11.3% during 2021-2031. The rising demand from turbine manufacturers will continue pushing the demand graph for wind power coatings upwards.
2016-2020 Wind Power Coatings Market Outlook Compared to 2021-2031 Forecast
Demand for wind power lamination grew at 8.8% CAGR between 2016 and 2020. Sudden rise in wind energy capacity has been witnessed in the last few years. According to the Global Wind Energy Council (GWEC), the cumulative capacity of energy production through wind turbines was pegged at around 193 GW in 2010 which has expanded at rapid rates and surpassed 742 GW capacity in 2020. This is due to numerous governmental initiatives and rising awareness towards renewable sources of energy.
In the current scenario, consumption of wind turbine films is anticipated to grow at a CAGR of 11.3%. Increase in production capacities of wind turbine manufacturers is expected to bolster the need for wind turbine lamination over the assessment period from 2021 to 2031.
Moreover, the rising demand for energy owing to rapid urbanization and industrialization across the globe along with surging environmental concerns associated with conventional methods of energy generation will fuel demand for energy derived from wind power, subsequently presenting conducive environment for the growth of the market.
Governments are adopting various strategies such as financial subsidies, direct investment, friendly policies and others to encourage the production of energy with renewable sources. This is expected to be a key factor elevating the sales of wind power coatings over the forecast period.
How will New Installation of Wind Power Plants Affect Demand for Wind Power Coatings?
Installation of wind power plants is growing at significant pace. Rising environmental concerns associated with conventional power production methods is fuelling the demand for clean energy. Besides this, awareness regardinf renewable sources of energy is expected to bolster the demand for wind power over the forecast period.
According to GWEC, About 60.8 GW capacity of wind power was installed across the globe in 2019 which expanded to around 93 GW in 2020. This new installation rate is expected to grow and around 112.2 GW capacity is expected to be installed by 2025.
With robust rise in number of turbines across the globe demand for wind power coatings is expected to grow in tandem with increasing focus on maintenance of wind turbines.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
What Is The Primary Concern For Wind Power Coating Manufacturers?
Wind turbines are used to convert wind energy into electrical energy owing to which they are installed in places having strong and enduring wind. Such places often have extreme weather conditions.
Wind power coatings must therefore endure extreme environmental conditions such as consistent exposure to heavy winds, saline atmosphere, and other corrosive factors.
These coatings must protect wind turbines against corrosion, erosion, and other environmental factors commonly witnessed in such extreme conditions. Owing to this factor, the demand for wind power coatings with high efficiency and longer life span is increasing.
On the downside, these coatings often come at high price. This could hamper growth of the market to an extent.
How is Increasing Offshore Turbine Installation Creating Problem for Manufacturers?
Demand for offshore wind turbines coatings is rising consistently owing to increase in offshore turbine installations.
However, application of offshore wind power coatings requires great precision and accuracy. There is no scope for rectification of any sort of mistakes in offshore wind power coatings.
According to a study, rectification or maintenance of offshore wind power coatings cost 50 to 60 times more than application on new components.
Such precision and accuracy requires highly skilled labors for coating application. Availability of such labors and their cost is key concern for the turbine manufacturers. Which is expected to control the growth of wind power coatings over the upcoming assessment period of 2021-2031.
Wind Power Coatings Market - Country-wise Insights
Why is Demand for Wind Power Coatings Rising in the U.S.?
In 2021, the U.S. wind power coatings market is expected to grow by 9.8% year-on-year, bucking initial skepticism about how the market would perform during a global pandemic. Across North America, total demand of wind power coatings is expected to reach 30 Kilo Tons.
The U.S. is the second largest consumer of wind power coatings. It has been recording high demand for energy owing to high industrialization and urban population in the country. To cater this demand, the U.S. Government is consistently investing in expansion of renewable energy capacity including wind power.
Coupled with this, the rise in wind power installation is expected to elevate the demand for wind power coatings across the country over the assessment period of 2021-2031.
What will be the Demand Outlook for China Wind Power Coatings Market?
China is a dominant consumer of wind power coatings. The country is expected to consume around 32.7% of wind power coating produced globally. Presence of one of the global leaders in the production of wind turbines Goldwind, who caters the global demand for wind turbines, has helped in sealing China’s dominance in the global market.
Wind power installation rate is rising at rapid pace in the country. China is constantly engaging in the development of renewable energy production capacity. About a half of the global installations of new wind turbines were in China in 2020.
Nearly 93 GW of wind power capacity was installed globally in 2020 and China alone installed about 52 GW capacity turbines in 2020. This trend will continue in the country, positioning China as a global power house in the wind power coatings market.
How will the U.K. Wind Power Coatings Market Fare?
The U.K. is the second largest consumer of wind power coatings following Germany. It is consistently engaged in the installation of offshore wind turbines. It is expected to be a global leader in production of energy through offshore winds.
The U.K. is windiest country in Europe owing to which the country is positively indulged in expansion of wind power capacity. Expansion in country’s wind power generation capacity is expected to fuel the demand for wind power coatings over the assessment period.
Wind Power Coatings Market - Category-wise Insights
Which Type of Wind Power Coating is Highly Sought-after?
Global wind power coatings market is segmented into three categories namely Polymer coatings, ceramic coatings, and metal coatings. Of these, polymer coatings are the most widely accepted type of coatings across the globe.
The polymer coatings segment is expected to account for almost 70% of the overall wind power coatings market. Wide range of product availability and various advantages offered polymer coatings depending upon their application and consumer specification will fuel sales in the category.
Which Is The Most Widely Used Method For Coating Application?
Wind turbines are available in variety of sizes and they are installed in locations with adverse environmental conditions to gain maximum power output. Advance equipment are required to coat wind turbines located in places with adverse wind conditions.
On the other hand, during the manufacturing of wind turbines ease of applying coatings is relatively lower than on site application. Spray coating among methods are suitable for application in both conditions and are available at low prices. Owing to this factor, spray is the most widely accepted method for the application of coatings.
Wind Power Coatings Market Competitive Landscape
Leading manufacturers of wind power coatings are laying emphasis on research and development activities to strengthen their product portfolio and comply with changing consumer preference
- In October 2019, Akzo Nobel launched a new powder coatings range ‘Interpon Redox’ for corrosion protection. It covers a full array of substrates, surfaces and environments, including wind turbines.
- In October 2021, Aerox Advanced Polymers developed AROLEP®, a coating with tailor-made modifications of polymer properties that can absorb high-speed and high-frequency impacts.
- In September 2020, Teknos Group Oy launched a new version of edge repair solutions, Teknoblade repair 9000-20, for wind turbine rotor blades. This coating shows good rain erosion test results according to DNVGL-RP-0171_2018 test standard and is available with an improved system for easy and safe application.
Similarly, an exhaustive coverage of key developments have been tracked by Future Market Insights in its latest report on Wind Power Coatings.
Scope of Report
Historical Data Available for
USD Million for Value and Tons for Volume
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia & Pacific and Middle East & Africa
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, Russia, BENELUX, Nordic, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa.
Key Segments Covered
Type, Coating Method, Application, Utilization and Region
Key Companies Profiled
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
Wind Power Coatings Market by Category
- 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