Latest TMR Report Explores Impact of COVID-19 Outbreak on Wind Power Coatings Market

 Wind Power Coatings Market: Introduction

• The global wind power coatings market was valued at US$ 798 Mn in 2018 and is anticipated to expand at a CAGR of approximately ~10% during the forecast period
• The global wind power coatings market is driven by the increase in investments in offshore wind power generation
• Asia Pacific accounts for a major share of the global wind power coatings market, led by the rise in focus on reducing greenhouse gas emissions in the region

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Key Drivers of Wind Power Coatings Market

• Increase in greenhouse gas emissions is a major cause of global warming. Thermal power generation accounts for a prominent share of the global CO₂ Severe impact of environmental degradation has fueled global interest in wind power renewable energy, as it is environment-friendly.
• Awareness about environment is increasing. Governments across the globe are striving to decrease carbon emissions. For instance, the Government of India plans to increase its wind power capacity to 60 GW by 2022. China aims to have 210 GW of grid-connected wind energy capacity by the end of 2020. In 2018, China led the total global wind power capacity with around 187 GW, followed by 89 GW generated by the U.S., and 56 GW generated by Germany.

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High Demand for Wind Power Coatings in Offshore Application

• Power generation from offshore wind energy has emerged as a promising alternative for various countries to expand their portfolio of renewable energy and provide an impetus to transform the future of sustainable energy. In offshore wind power, blades erode rapidly due to rain and harsh weather. Therefore, demand for wind power coatings has been rising in offshore wind power generation.
• Globally, investments in offshore wind power development are expected to rise substantially in the next few years. Europe leads in terms of investments in development of the wind power industry. According to WindEurope, Europe invested US$ 8.7 Bn in the development of offshore wind power in 2018. Countries in Europe such as the U.K., Germany, France, and Italy have invested significantly in the development of offshore wind power.

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Global Wind Power Coatings Market: Research Scope

Wind Power Coatings Market, by Type

• Polymer Coatings
• Metal Coatings
• Ceramic Coatings

Wind Power Coatings Market, by Technology

• Water-based
• Solvent-based
• Powder
• UV-cured

Wind Power Coatings Market, by Application

• Onshore
  • Blade
  • Tower
  • Interior
• Offshore
  • Blade
  • Tower
  • Interior

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