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The report says that consumption of composite materials in the Indian wind energy industry is forecasted to grow 12.8% per year between 2013 and 2018.
Composite Insights believes there is an enormous opportunity for raw materials used in the fabrication of fibre-reinforced plastics (FRP) products in Indian Wind Energy Industry as the demand for composite materials in the Indian wind energy industry has continued its growth momentum till 2011. However, in 2012, the industry was affected by the withdrawal of two key incentives by the government-accelerated depreciation and generation-based incentive.
Between 2007 and 2012 around 11,931 MW of new wind capacity was installed. Composite Insights forecast that during the next six years period around 22,053 MW of new wind capacity will be installed, representing a 85% growth. It is estimated that around US$805 million worth of composite materials were used between 2007 and 2012. Followed by growth of new capacity, during the next six years the consumption of composite materials is expected to grow 96% to US$1,576.
The company say that the research report “Indian Wind Energy Composites Industry 2013-2018: Trend, Forecast and Opportunity Analysis” highlights the opportunities for composite materials in Indian Wind Energy Industry; provides current and future demand for various raw materials.
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