Transparency Market Research has announced the addition of the Wind Power Coating Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025 report to their offering.
Albany, NY -- (SBWIRE) -- 11/15/2017 -- Corrosion and erosion of wind blades and towers in harsh environmental conditions encountered on land and at sea affects the wind power efficiency. Corrosion and erosion can adversely affect the reliability, strength, lifespan, and economic value of a structure. Thus, coating plays a key role in protecting towers, blades, and other components from the harsh environment. Demand for coatings for wind turbines is expected to increase due to the rise in adoption of wind and photovoltaic (PV) systems, growth in focus on decreasing the maintenance costs, and improvement in efficiency. This is expected to drive the wind power coating market. Smart coatings for wind energy and PV applications carry antimicrobial and self-cleaning properties. These are used to prevent wind turbine blades from damage. They also improve energy efficiency by lowering the amount of contamination.
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Wind power coatings enables wind turbine to run longer with low maintenance and less operating cost in harsh environmental conditions. Smart coatings are used to detect the degree of destruction to the blades, improve power generation efficiency, and resolve damages caused to the blades. However, smart coating materials are not fully commercialized; they are still under development. Wind turbines generating renewable energy to feed the rising global demand for electricity. The aim to lower operating costs of independent power producers and utilities is driving the global wind power coating market. Offshore wind turbine is one of the growth opportunities for the wind power coating market across the globe. The wind power coating market can be segmented based on type, application, and region. Based on type, the market can be divided into polymer coatings, ceramic coatings, and metal coatings. In terms of application, the market can be split into offshore (including offshore blade, offshore tower, and offshore interior) and onshore (including onshore blade, onshore tower, and onshore interior). Better quality coatings can help protect key structures and strengthen their performance, reduce maintenance cost, lower operation failure, extend plant lifespan, and improve sustainability by reducing material corrosion and wastage.
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Based on region, the market can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. The wind power coating market is dominated by Asia Pacific owing to government initiatives to minimize greenhouse gas emission in the region. This trend is anticipated to continue in the near future. Europe is also estimated to be a key region for wind energy due to the advancement in technology and the availability of new forms of energy across the region. Ocean energy and offshore wind energy are two of the forms of renewable energy sources in Europe. Global levelized cost of electricity (LCOE) of onshore and offshore wind power has been decreasing. This is projected to drive the wind power coating market in Asia Pacific and Europe. The proportion of imports of wind power coatings into Europe is relatively low; however, it is expected rise through suppliers from the U.S., China, and India. China is active in the wind turbine sector. Thus, the country is likely to hold major share of the wind power coating market in the near future. Key players operating in the global wind power coating market include Akzo Nobel N.V., Hempel A/S, PPG Industries, Inc., BASF SE, Jordan Wind Project Company PSC, Bergolin GmbH & Co KG, The 3M Company, Acolus Coatings, E. I. du Pont de Nemours and Company (Dupont), and Duromar, Inc.