Wind Turbine Composite Materials Market - By Fiber Type (Glass Fiber, Carbon Fiber), By Technology (Vacuum Injection Moulding, Prepreg, Hand Lay-Up), By Application (Wind Blades, Nacelles) & Forecast, 2023 – 2032

Wind Turbine Composite Materials Market Size

Wind Turbine Composite Materials Market was valued at USD 12.7 billion in 2022 and is anticipated to grow a CAGR of over 7.1% between 2023 and 2032.
 

Wind turbine composite materials industry continues to expand significantly, driven by the global shift towards renewable energy sources and the escalating demand for wind power generation. Composite materials, including fiberglass, carbon fiber, and resin systems, play a pivotal role in manufacturing lightweight, durable, and efficient wind turbine components. The market growth is propelled by technological advancements enhancing the mechanical properties of composites, making them more reliable and cost-effective in wind turbine construction. Government initiatives supporting renewable energy projects, coupled with environmental concerns and stringent regulations reducing carbon emissions, further bolster the market's growth trajectory.
 

However, challenges such as high initial investment costs, long-term durability, recycling concerns, and supply chain vulnerabilities necessitate ongoing innovation and sustainable solutions to maintain the market's upward trajectory while ensuring environmental responsibility and long-term viability.
 

COVID-19 Impact

The COVID-19 pandemic exerted a mixed impact on the wind turbine composite materials market. Initially, the market experienced disruptions in supply chains, project delays, and a slowdown in new installations due to restrictions, labor shortages, and logistical challenges caused by the global health crisis. Uncertainties in the financial markets and reduced investments in renewable energy projects further contributed to the temporary slowdown. However, the pandemic also accelerated the focus on sustainable and clean energy solutions as part of economic recovery plans and stimulated government support for renewable energy projects. As the world moved towards economic recovery and renewable energy targets gained prominence, the wind energy sector, including the demand for wind turbine composite materials, rebounded progressively, supported by increased investments, favourable policies, and a renewed emphasis on green initiatives, ensuring a gradual recovery and resurgence of the market.
 

Wind Turbine Composite Materials Market Trends

There's a growing emphasis on recyclability and eco-friendliness in composite manufacturing processes, driven by environmental regulations and sustainability goals. Furthermore, the market is experiencing innovation in composite formulations, aiming to improve fatigue resistance, reduce costs, and enhance overall operational efficiency of wind turbines. Collaborative research efforts and investments in novel materials, such as carbon fibers and bio-based resins, also indicate a rising focus on enhancing the strength-to-weight ratio and longevity of wind turbine components, showcasing a trajectory towards more sustainable and efficient wind energy solutions.
 

Wind Turbine Composite Materials Market Analysis

Based on fiber type, glass fiber holds a predominant market share around 64.7% in 2022 owing to its widespread use in wind turbine blade manufacturing due to its cost-effectiveness, adequate mechanical properties, and established manufacturing processes. Carbon fiber, although representing a smaller market share compared to glass fiber, is gaining traction due to its superior strength-to-weight ratio, offering potential for lightweight and high-performance turbine components. Carbon fiber's adoption is primarily observed in premium turbine models and specialized applications where performance advantages justify higher costs. The "Others" category, including aramid fibers and hybrid composites, occupies a smaller share but demonstrates potential for growth as research and development initiatives explore alternative fiber reinforcements that offer unique combinations of properties catering to specific wind turbine requirements. Overall, while glass fiber remains the dominant choice in wind turbine composite materials due to its cost-efficiency, ongoing advancements in carbon fiber and exploration of alternative fiber types suggest a diversifying landscape with potential growth opportunities for various fiber types in the market.
 

Based on technology, vacuum injection moulding represents a significant market share of 44.7% in 2022 due to its ability to produce complex and high-quality composite parts with consistent material distribution and reduced void content. Prepreg technology also holds a notable share, known for its precise fiber placement and resin impregnation, ensuring enhanced mechanical properties and performance in wind turbine components. Hand lay-up, while exhibiting a smaller market share, remains relevant, especially in smaller-scale production and for prototyping due to its flexibility and lower equipment investment. The "Other" category encompasses emerging manufacturing technologies and processes like automated fiber placement (AFP) and resin transfer moulding (RTM), showing potential for growth owing to their ability to improve production efficiency, reduce cycle times, and enhance the quality of composite materials for wind turbines. Overall, while vacuum injection moulding and prepreg technologies dominate the wind turbine composite materials market, ongoing innovations and advancements in alternative technologies indicate a dynamic landscape with potential for diversification and technological enhancements in the future.
 

Based on Application, wind blades command a substantial market share about 74.7% due to their significant reliance on composite materials, particularly fiberglass and carbon fiber, which offer lightweight yet durable solutions capable of withstanding wind loads and environmental stresses. Nacelles represent another significant segment, albeit with a relatively smaller share compared to wind blades, benefiting from composite materials used in their construction for components like housings and covers due to their strength, corrosion resistance, and design flexibility. The "Others" category encompasses various applications such as towers, hubs, and other structural elements, constituting a smaller market share, yet showing potential for growth with advancements in composite materials and designs aimed at improving efficiency and reducing overall turbine weight. While wind blades currently dominate the market share in terms of composite materials application, continued innovation and developments across various components indicate a potential for diversification and expanded utilization of composites in other wind turbine elements.
 

North America dominated the wind turbine composite materials market in 2022, holds a significant share of around 34.7% of the global market. The U.S. holds a significant position in the global wind energy sector, supported by favourable government policies, tax incentives, and initiatives promoting clean energy adoption. This has resulted in increased demand for composite materials used in wind turbine manufacturing, especially in key regions like Texas and the Midwest, where wind farms are abundant. Additionally, technological advancements and research in composite material development for wind turbines have further strengthened the market's position in the U.S., demonstrating a commitment to sustainable energy solutions. While other regions globally contribute to the wind turbine composite materials industry, the U.S., within North America, maintains a prominent market share owing to its robust wind energy infrastructure and supportive policies fostering the adoption of composite materials in wind turbine product.
 

Wind Turbine Composite Materials Market Share

Major players operating in the wind turbine composite materials industry include:

• Solvay S.A.
• Mitsubishi Chemical Corporation
• SABIC
• Evonik Industries AG
• Zoltek Companies, Inc.

These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Wind Turbine Composite Materials Industry News

• In June 2021: Evonik opened a new research and development centre in Shanghai, China. This centre will focus on developing new products and technologies for the Chinese market.

The wind turbine composite materials market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) & volume (Kilo Tons) from 2018 to 2032, for the following segments:

Click here to Buy Section of this Report

Market, By Fiber Type

• Glass Fiber
• Carbon Fiber
• Others

Market, By Technology

• Vacuum Injection Molding
• Prepreg
• Hand Lay-Up
• Other

Market, By Application

• Wind blades
• Nacelles
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Malaysia 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE