Home Industry Reports Custom Research Blogs About Us Contact us

Wind Turbine Composite Materials Market Size & Share, By Fiber Type (Glass Fiber, Carbon Fiber), Technology (Vacuum Injection Moulding, Prepreg, Hand Lay-Up), Application (Wind Blades, Nacelles), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Report ID: FBI 5027

|

Published Date: Aug-2024

|

Format : PDF, Excel

Market Outlook:

Wind Turbine Composite Materials Market exceeded USD 13.7 Billion in 2023 and is anticipated to cross USD 25.61 Billion by end of the year 2032, observing around 7.2% CAGR between 2024 and 2032.

Base Year Value (2023)

USD 13.7 Billion

19-23 x.x %
24-32 x.x %

CAGR (2024-2032)

7.2%

19-23 x.x %
24-32 x.x %

Forecast Year Value (2032)

USD 25.61 Billion

19-23 x.x %
24-32 x.x %
Wind Turbine Composite Materials Market

Historical Data Period

2019-2023

Wind Turbine Composite Materials Market

Largest Region

North America

Wind Turbine Composite Materials Market

Forecast Period

2024-2032

Get more details on this report -

Market Dynamics:

Growth Drivers & Opportunity:

The increasing demand for clean energy sources and the growing focus on reducing carbon emissions are major growth drivers for the wind turbine composite materials market. Additionally, the advancements in technology and the development of more efficient and durable composite materials are expected to drive market growth in the coming years.

Report Scope

Report CoverageDetails
Segments CoveredFiber Type, Technology, Application
Regions Covered• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company ProfiledGurit Holding AG, Toray Industries,, Teijin Limited, Hexcel, Owens Corning, SGL Carbon SE, Solvay S.A., Mitsubishi Chemical, Hexion, AOC Aliancys, Huntsman, Henkel AG & Co. KGaA, SABIC, Evonik Industries AG, Zoltek Companies,,

Unlock insights tailored to your business with our bespoke market research solutions - Click to get your customized report now!

Industry Restraints:

The high initial investment and installation costs associated with wind turbine composite materials can act as a major restraint for the market. Furthermore, the lack of proper infrastructure in developing regions may also hinder market growth to some extent.

Regional Forecast:

Wind Turbine Composite Materials Market

Largest Region

North America

34.7% Market Share in 2023

Get more details on this report -

North America:

The wind turbine composite materials market in North America is expected to experience significant growth due to the increasing adoption of renewable energy sources in the region. The United States and Canada are key countries driving the market growth, with a focus on reducing carbon emissions and transitioning towards sustainable energy solutions. Key players in the region are investing in the development of advanced composite materials to enhance the performance and efficiency of wind turbines.

Asia Pacific:

In Asia Pacific, countries such as China, Japan, and South Korea are witnessing a rapid expansion of wind power capacity, leading to a growing demand for composite materials in the wind turbine industry. China, in particular, is one of the largest markets for wind energy globally and is driving the demand for lightweight and durable composite materials for wind turbine manufacturing. Japan and South Korea are also focusing on increasing their renewable energy capacity, which is expected to boost the market for composite materials in the region.

Europe:

In Europe, countries like the United Kingdom, Germany, and France are at the forefront of the transition towards renewable energy sources, including wind power. The region has set ambitious targets for reducing carbon emissions and increasing the share of renewable energy in the overall energy mix. Wind turbine manufacturers in Europe are increasingly using composite materials to improve the performance and longevity of wind turbines, driving the growth of the market in the region.

Report Coverage & Deliverables

Historical Statistics Growth Forecasts Latest Trends & Innovations Market Segmentation Regional Opportunities Competitive Landscape
Wind Turbine Composite Materials Market
Wind Turbine Composite Materials Market

Segmentation Analysis:

""

In terms of segmentation, the global Wind Turbine Composite Materials market is analyzed on the basis of Fiber Type, Technology, Application.

Wind Turbine Composite Materials Market Analysis:

Glass Fiber Segment:

The glass fiber segment in the wind turbine composite materials market is expected to witness substantial growth due to its lower cost compared to carbon fiber. Glass fiber is widely used in the manufacturing of wind blades and nacelles, offering good strength and durability.

Carbon Fiber Segment:

The carbon fiber segment is anticipated to experience significant growth owing to its high strength-to-weight ratio. Carbon fiber is increasingly being used in wind turbine components to enhance performance and improve longevity.

Vacuum Injection Moulding Technology:

The vacuum injection moulding technology segment is projected to dominate the market as it allows for the production of complex wind turbine components with high precision and efficiency. This technology ensures uniform fiber distribution and reduces manufacturing defects.

Prepreg Technology:

The prepreg technology segment is likely to witness steady growth in the wind turbine composite materials market due to its advantages such as easy handling, minimal waste, and consistent quality. Prepreg materials are widely used in the fabrication of wind blades for enhanced mechanical properties.

Hand Lay-Up Technology:

The hand lay-up technology segment is expected to maintain a prominent position in the market as it offers flexibility in manufacturing various wind turbine components. This traditional method allows for customization and cost-effective production of composite materials.

Wind Blades Application:

The wind blades application segment is expected to hold a significant share in the market, driven by the growing demand for larger and more efficient wind turbines. Composite materials used in wind blades offer lightweight properties and high strength to withstand harsh environmental conditions.

Nacelles Application:

The nacelles application segment is anticipated to witness steady growth in the wind turbine composite materials market as nacelles play a crucial role in housing key components of the wind turbine. Composite materials used in nacelles offer excellent thermal properties and corrosion resistance, contributing to the overall performance of wind turbines.

Get more details on this report -

Competitive Landscape:

The Wind Turbine Composite Materials Market is characterized by a highly competitive landscape, driven by the increasing demand for renewable energy solutions and advancements in composite technologies. Major players are focusing on enhancing the performance of composite materials through innovations in resin systems and fiber technologies, aiming to improve the efficiency and lifespan of wind turbines. The market is witnessing partnerships and collaborations among material suppliers, manufacturers, and research institutions to foster innovation. Additionally, the push towards lighter and stronger materials is prompting companies to invest in R&D, thus ensuring they stay ahead of competitors. Geographic expansion and strategic mergers and acquisitions are also prevalent strategies to strengthen market presence and access new regions.

Top Market Players

- GE Renewable Energy

- Siemens Gamesa Renewable Energy

- Vestas Wind Systems

- Nordex SE

- Suzlon Energy Ltd

- LM Wind Power

- Hexcel Corporation

- Toray Industries

- Mitsubishi Heavy Industries

- Owens Corning

Our Clients

Why Choose Us

Specialized Expertise: Our team comprises industry experts with a deep understanding of your market segment. We bring specialized knowledge and experience that ensures our research and consulting services are tailored to your unique needs.

Customized Solutions: We understand that every client is different. That's why we offer customized research and consulting solutions designed specifically to address your challenges and capitalize on opportunities within your industry.

Proven Results: With a track record of successful projects and satisfied clients, we have demonstrated our ability to deliver tangible results. Our case studies and testimonials speak to our effectiveness in helping clients achieve their goals.

Cutting-Edge Methodologies: We leverage the latest methodologies and technologies to gather insights and drive informed decision-making. Our innovative approach ensures that you stay ahead of the curve and gain a competitive edge in your market.

Client-Centric Approach: Your satisfaction is our top priority. We prioritize open communication, responsiveness, and transparency to ensure that we not only meet but exceed your expectations at every stage of the engagement.

Continuous Innovation: We are committed to continuous improvement and staying at the forefront of our industry. Through ongoing learning, professional development, and investment in new technologies, we ensure that our services are always evolving to meet your evolving needs.

Value for Money: Our competitive pricing and flexible engagement models ensure that you get maximum value for your investment. We are committed to delivering high-quality results that help you achieve a strong return on your investment.

Select Licence Type

Single User

US$ 4250

Multi User

US$ 5050

Corporate User

US$ 6150

Wind Turbine Composite Materials Market Size & Sha...

RD Code : 24