智通财经网·2025-05-28 01:29Core Viewpoint - The wind power industry is experiencing an upward trend, with accelerated demand for offshore wind energy, leading to strong growth potential for wind power coatings and bearings as key functional materials [1] Group 1: Industry Outlook - The domestic wind power installed capacity is expected to reach 112 GW by 2025, representing a year-on-year increase of approximately 25% [1] - Offshore wind power benefits from environmental friendliness and abundant resources, supported by policies, which will provide long-term support for wind power installations during the 14th Five-Year Plan [1] - The Global Wind Energy Council (GWEC) projects a compound annual growth rate (CAGR) of 23% for new installations overseas from 2024 to 2026, indicating that overseas markets will contribute significantly to global wind power demand growth starting in 2026 [1] Group 2: Coating Segment - Wind power coatings, including blade and tower coatings, provide essential protective functions such as impact resistance and corrosion prevention [2] - The domestic market for blade coatings has seen local manufacturers break the foreign monopoly, with Maijia Xincai holding over 40% market share [2] - The total demand for wind power coatings is projected to reach 14.3 million tons by 2025, corresponding to a market size of approximately 4.53 billion yuan, with an expected annual compound growth rate of about 10% from 2024 to 2027 [2] Group 3: Bearing Segment - Wind power bearings are critical components connecting various systems within wind turbines, with a current domestic localization rate of about 35% for main shaft bearings [3] - The shift towards domestic production is expected to accelerate due to supply chain adjustments and improved cost-performance ratios [3] - The market size for sliding bearings, which are anticipated to replace rolling bearings in wind turbines, is estimated to be around 11.5 billion yuan under a scenario of 125 GW new installations [3]