Our Senior Research Analyst Santiago Castro shares insights into the latest trends in material consumption for the global production of wind turbine blades. Here is a snippet of the interview:

What are the current trends in global wind turbine manufacture?

The global composite blade market is worth around 3 billion Euros, with demand for materials for the production of wind turbine blades growing in double digits.

Demand growth has been particularly strong in Asia and North America. The “PTC bubble” in the US and China’s 13th Five Year Plan on Energy Development (2016-2020) are the two main drivers for the fast growth seen between 2017 and 2019. 2020 was a critical year for both China and the US, the two largest wind energy markets in the world, where government driven initiatives were instrumental in shaping demand trends.

The industry continues its transition towards energy auction systems, a process that in some countries has not been a smooth experience. With the move towards auction systems, the need for manufacturers to maintain low cost of energy levels is more important than ever. The increased competition among wind turbine manufacturers continues to exert pressure on prices.

Read the full interview