Detroit, Oct. 21, 2024 (GLOBE NEWSWIRE) — The Pultruded Spar Cap Market is projected to witness a growth rate of 16.7% annually from 2024 to 2030, with an anticipated size of US$ 2.1 billion by 2030, according to an analysis by Stratview Research.
Stratview Research, a global market research firm has launched a report on the pultruded spar cap market which provides a comprehensive outlook of the global and regional industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.
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Report Highlights
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Market Size in 2030 (billion US$) |
2.1 |
|
Growth (CAGR) |
16.7% during 2024-2030 |
|
Forecast Period |
2024-2030 |
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Trend Period |
2018-2022 |
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Base Year |
2023 |
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Number of Segments Covered |
4 |
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Number of Tables & Graphs |
100+ |
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Country-Level Market Assessment |
20 |
Segment Insights on the Pultruded Spar Cap Market
The pultruded spar cap market is segmented based on resin type, fiber type, shore type, and region.
Based on resin type – The pultruded spar cap market is segmented into epoxy resin, vinyl ester resin, and other resin. Vinyl ester resin is expected to remain the largest and fastest-growing resin in the market during the forecast period. Vinyl ester performs better than epoxy composites under tension and offers greater resistance. This ensures the structural integrity of pultruded components, making them more suitable for demanding wind turbine applications. However, polyurethane composite is also gaining traction in the market, especially in Europe, as it offers improved bending strength and higher interlaminar shear strength than vinyl ester and epoxy.
Based on the fiber type – The market is segmented into CFRP and GFRP & Hybrid. CFRP is expected to maintain its supremacy in the market as the fastest-growing fiber type during the forecast period. With the ongoing trend of increasing wind blade lengths to enhance wind power, incorporating carbon fiber for making plates for spar caps has emerged as an effective strategy to improve the strength-to-weight ratio and enhance blade rigidity.
Based on the shore type – The market is segmented into onshore pultruded spar caps and offshore pultruded spar caps. Offshore is expected to be the fastest-growing shore of the market during the forecast period. Due to the challenging environment and harsh conditions faced by offshore installations, the incorporation of pultruded spar caps offers notable advantages, such as corrosion resistance, durability, lightweight design, and structural integrity. Offshore wind turbine blades are now increasingly being developed with carbon fiber pultruded spar caps, as carbon fiber’s high strength allows spar caps to distribute loads effectively, reducing material stress and extending the overall fatigue life of the blade.
Read More: Pultruded Spar Cap Market is Forecasted to Reach US$ 2.1 Billion in 2030, Says Stratview