Expanded Metal Foils Market Size for Wind Turbine Blades Lightning Protection, By Wind Turbine Type (Horizontal-axis, Vertical-axis), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

Expanded Metal Foils Market Size for Wind Turbine Blades Lightning Protection, By Wind Turbine Type (Horizontal-axis, Vertical-axis), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 - 2030

The expanded metal foils market for wind turbine blades lightning protection is poised to exhibit steady growth by 2030 owing to growing product demand for protection of wind turbine blades from lightning striking. In addition, rapid research & development in the field of expanded metal foils is likely to further boost market growth over the forecast period.

Blades of wind turbines are primarily made of fiberglass-reinforced polyester or epoxy that usually pile up in landfills at the end of their lifecycles. With growing environmental concerns, continuous inventions in expanded metal foils have extended blade lives as well as enhanced the working capacity and recyclability of these blades.

During the COVID-19 outbreak, the industry observed a decline in product penetration attributed to the disruption in the supply chain on account of global lockdowns. However, relaxations in lockdowns created new opportunities for companies working in the expanded metal foils industry due to rising electricity demand in key regions, propelling business growth.

Moreover, major participants in the expanded metal foils market for wind turbine blades lightning protection have been focusing on rigorous product advancements and strategic initiatives to maintain a steady position in the industry. For instance, in April 2021, Engineered Specialities Inc. (ESI), a metal stamping expert, launched CThru Metals, its new metal forming & manufacturing division. The division focuses on the production of expanded metal mesh foils and high-quality metals, among other products.

To cite another instance, in August 2021, scientists at the National Renewable Energy Laboratory, in partnership with two energy firms General Electric and LM Wind Power, developed a thermal welding technology that can help revert 80% of electric current arising from lightning strikes, protecting the blade of the wind turbine.

The expanded metal foils market for wind turbine blades lightning protection has been bifurcated on the basis of type and region.

In terms of type, the industry has been split into vertical-axis and horizontal-axis. The horizontal-axis segment accounted for roughly 89.4% market share in 2021. Currently, horizontal-axis wind turbines have the highest efficacy and can convert 40-50% of wind power they receive into electricity.

Meanwhile, the expanded metal foils industry for wind turbine blades lightning protection share from the vertical-axis segment is set to grow at a CAGR of about 12.9% over the review timeline. Vertical-axis turbines can produce electricity in any wind direction. Furthermore, it has a low production cost compared to horizontal-axis wind turbines, which is set to stimulate product uptake.

On the regional spectrum, the Latin America expanded metal foils market for wind turbine blades lightning protection contributed to around 4% of the overall industry revenue in 2021 and is slated to grow at above 12.8% CAGR between 2022 and 2028. Moreover, several initiatives taken by governments to promote the use of sustainable products and services in the Middle East & Africa region are projected to augment the growth of the MEA expanded metal foils industry for wind turbine blades lightning protection through the forecast timespan.