Global Wind Power Coating Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030
Wind power coatings generally refer to wind power blade coatings. Since large wind turbines are usually installed in harsh climates, the surface of wind turbine blades is often exposed to environments that are prone to erosion and wear, so it is necessary to cover the surface with coatings to protect the blades. Paints can be divided into different types including polymer paints, ceramic paints, metallic paints, etc. Wind power coatings are widely used in large offshore or land wind turbines.
Market Overview:The latest research study on the global Wind Power Coating market finds that the global Wind Power Coating market reached a value of USD 1051.92 million in 2023. It’s expected that the market will achieve USD 1682.09 million by 2029, exhibiting a CAGR of 8.14% during the forecast period.
AkzoNobel to acquire Chinese Decorative Paints business from Sherwin-Williams
April 19, 2023
AkzoNobel is to further strengthen its China position after reaching an agreement with Sherwin-Williams to acquire its Chinese Decorative Paints business*. Completion, which is subject to regulatory approvals, is expected in the second half of 2023.
The business has an annual revenue of about €100 million and employs around 300 people. The transaction includes the Huarun brand, which has a long history and is well recognized in China.
Hempel Buys Cap Couleurs Store Network
19 Sep, 2022
Danish coatings company Hempel has acquired Cap Couleurs’ store network in southeastern France, maintaining its segment leadership in the Var region and supporting its growth initiatives. Financial terms were not disclosed.
Hempel noted that the addition of the network supports its strategy to double revenue by 2025. The acquisition is the third it has made in the decorative segments this year and follows the purchase of Oman’s Khimji Paints in February and Australia’s Paintworld in August.
Increased demand in downstream markets
Climate change is a major challenge facing humanity. Limiting the rise in global temperatures and reducing carbon emissions has become a global consensus. According to GWEC data, the total global wind power installed capacity continues to increase. From 2010 to 2022, the global total installed wind power capacity reached 906GW from 198GW, with a total growth rate of 357.58% and an annual growth rate of 13.51%. Wind power coatings are currently mainly used in the coating of wind power blades. The market size of wind power coatings mainly depends on the newly installed capacity of downstream wind power equipment and the repair inventory of wind power equipment. As the cost advantage of wind power gradually becomes apparent, it is expected that the proportion of global wind power in total energy will gradually increase in the future. The increase in demand from the downstream wind power market is driving the development of the wind power coating industry.
Increased environmental protection requirements
With the continuous improvement of environmental protection and technical requirements for coatings by downstream industries and governments, the quality, stability and environmental protection of coating products have become factors that downstream customers pay more attention to in addition to price. Therefore, environmentally friendly and efficient new water-based products are in line with the development trend of the industry. Paints and other varieties have higher development space than traditional oil-based paints. Traditional coating production requires a large amount of organic solvents, which evaporate during coating to form VOCs (volatile organic compounds), causing environmental pollution. According to the Notice on the Comprehensive Work Plan for Energy Saving and Emission Reduction during the 14th Five-Year Plan issued by the State Council of China, the use of coatings, inks, adhesives, and cleaning agents with low volatile organic content will be promoted, focusing on industrial coating, packaging and printing and other industries. By 2025, the proportion of solvent-based industrial coatings and inks used will be reduced by 20% and 10% respectively, and the use of solvent-based adhesives will be reduced by 20%.
Solvent-free coatings do not release harmful organic solvents during construction and curing, which can effectively reduce environmental pollution. As a more environmentally friendly option, water-based paint is mainly composed of water, which is not only non-toxic and odorless, but also improves safety during storage, transportation and construction. Comprehensively promoting the development of environmentally friendly coatings has become an irreversible trend. Therefore, as environmental protection requirements increase, environmentally friendly coatings such as water-based paint will further develop, and their proportion in the overall coatings industry will continue to increase. In the future, environmentally friendly coatings such as water-based paint will become the development trend of the wind power coating industry.
Region Overview:In 2022, the share of the Wind Power Coating market in China stood at 43.91%.
Company Overview:Hempel, AkzoNobel, PPG were the top 3 players in the Wind Power Coating market in 2023, taking up a market share of 45.57% together.
As a world-leading supplier of trusted coating solutions, Hempel is a global company with strong values, working with customers in the decorative, marine, infrastructure and energy industries. Hempel factories, R&D centres and stock points are established in every region.
Hempel’s paints and coatings protect and beautify buildings, infrastructure and other assets, and play an essential role in our customers’ businesses. They help minimise maintenance costs, improve aesthetics and increase energy efficiency.
Segmentation Overview:The Market Profile of Polymer Coating
Commonly used polymer coatings are epoxy, polyurethane, acrylic, and fluoropolymer solutions. Polymer coatings are chosen for their high-performance properties: corrosion resistance, durability, chemical resistance, smooth finish, and toughness.
Polymer coatings are commonly applied as layered systems, rather than single coats. In this way the different properties of the coatings can protect other layers as well as the turbine blade, strengthening the protective system. A common 3-coat system uses epoxy as the base coats and polyurethane as the top coat, using polyurethane’s UV resistance to protect the less resistant epoxy.
The Market Profile of Ceramic Coating
Ceramic coatings are inorganic coatings including aluminum oxide, aluminum titania, chromium oxide, and more. These coatings are hard, low friction, abrasion and wear resistant, anti-galling, corrosion resistant, heat resistant, and durable.
Ceramic coatings are often used to protect wind turbine blades. This is in part because ceramic coatings have a greater abrasion resistance than polymer coatings, an important factor in combating leading edge erosion and preventing the constant impact of projectiles from damaging the blade.
The Market Profile of Metal Coating
Wind turbines blade are often coated with metal coatings – non-ferrous metals such as zinc, aluminum, and its alloys. These metal coatings are applied through a variety of methods, including hot dip galvanizing, electroplating and thermal spraying.
As for product types, the Polymer Coating segment held the largest market share in 2022.
Application Overview:According to the location of wind turbines, wind turbine blade coatings are mainly used in offshore wind turbine blade or onshore wind turbine blade.
The market's largest segment by application is the segment Onshore, with a market share of 89.38% in 2022.
Key Companies in the global Wind Power Coating market covered in Chapter 3:Jotun
Hempel
The Sherwin-Williams Company
Duromar
PPG
AkzoNobel
MEGAP&C
Mankiewicz
Teknos Group
Covestro
Bergolin
3M
In Chapter 4 and Chapter 14.2, on the basis of types, the Wind Power Coating market from 2019 to 2030 is primarily split into:Polymer Coating
Ceramic Coating
Metal Coating
In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Wind Power Coating market from 2019 to 2030 covers:Offshore
Onshore
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)