This has increased demand for carbon fiber rotor blades even further, along with the falling prices of wind energy production. Governments and regulatory agencies throughout the world are putting in place beneficial policies, such as feed-in tariffs and renewable portfolio standards, to encourage the use of wind power. In 2021, around 206,592 metric tons of carbon fiber for wind turbine rotor blades were sold, and the sales are likely to rise 14.94% by 2030 to reach an estimated 706,497 metric tons. In other cases, outdated turbines were changed not owing to damage but rather as more effective blades were sold on the market. Wind power companies need cost-effective solutions a highly efficient product can alter the market's dynamics. πππ¦π©π₯π π¨π ππ‘π’π¬ πππ«ππππ π’π Δͺs the wind turbine rotor blades market adopts the trend toward increased blade sizes, the use of carbon fiber will likely expand quickly. The global market is growing at a compound annual growth rate (CAGR) of 7% during the forecast period from 2023 to 2031. CHICAGO, UNITED STATES, July 25, 2023/ / - Global carbon fiber in the wind turbine rotor blade market is witnessing huge revenue growth of US$ 5,398.89 million by 2031 from US$ 2,972.46 million in 2022.
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