Strategic Manufacturing Expansion Signals Major Growth in Wind Energy Sector
Kineco Exel Composites India (KECI) has achieved a significant milestone with the commercial launch of its state-of-the-art pultrusion facility in Banda, positioning the company at the forefront of India’s rapidly expanding renewable energy manufacturing sector. This joint venture between Finland’s Exel Composites and India’s Kineco Group represents a crucial development in the nation’s wind energy supply chain, with immediate implications for both domestic and global markets.
World-Class Manufacturing Capabilities
The new Banda facility showcases advanced pultrusion technology specifically designed for high-volume fiber-reinforced plastic (FRP) component manufacturing. The plant’s primary focus centers on producing spar caps for wind turbine blades, critical structural components that provide the strength, stiffness, and load-bearing capacity necessary for modern wind energy applications. These carbon fiber planks are integral to wind turbine performance, offering optimal strength-to-weight ratios essential for increasingly longer blade designs.
Market Position and Growth Trajectory
KECI’s strategic positioning comes at an opportune time, as India represents the world’s fastest-growing composites market with growth rates nearly twice the global average. The Indian composites market, valued at approximately USD 8.04 billion in 2024, is projected to reach USD 16.00 billion by 2033. Within this landscape, the pultruded spar cap market specifically is experiencing remarkable expansion, estimated to grow from USD 565 million in 2024 to USD 2.1 billion by 2030 at a CAGR of 16.7%.
Strategic Partnerships Drive Success
The company has already secured significant contracts, including a multi-year agreement for carbon fiber plank supply to major South Asian wind turbine manufacturers. Additionally, KECI successfully won the bidding process to supply pultruded carbon planks for Vestas Wind Systems A/S, with deliveries expected to commence in the last quarter of 2025. These partnerships underscore the facility’s capability to meet stringent international quality standards while serving both domestic and global markets.
Technology and Innovation Leadership
The Banda facility represents more than manufacturing capacity expansion; it embodies technological advancement in composite materials processing. With pultrusion holding a 29% market share in India’s composite manufacturing processes, KECI’s specialization positions it advantageously within the sector’s dominant technology. The plant’s design optimization for wind power industry applications aligns with market trends showing that 70% of new wind turbine blades will incorporate carbon fiber spar caps by 2028
Future Growth Prospects
Beyond wind energy applications, the facility will manufacture solutions for construction, infrastructure, and telecommunications sectors. This diversification strategy capitalizes on India’s broader composite materials growth, particularly in construction and infrastructure, which represents 35.7% of market share by volume. The company’s comprehensive approach to market serving, combined with its world-class manufacturing standards, establishes a foundation for sustained growth in India’s expanding clean energy landscape.
The successful commissioning of the Banda facility represents a pivotal moment for KECI, marking its transition from development phase to full commercial operations. With strong partnerships, advanced technology, and strategic market positioning, the company is well-positioned to capitalize on India’s renewable energy transformation while contributing to global clean energy objectives.