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Wind Turbine Composite Materials Market Trends

Report ID: GMI7469
Published Date: Nov 2023
Report Format: PDF

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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.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Market size for wind turbine composite materials was valued at USD 12.7 billion in 2022 and is projected to witness a CAGR of over 7.1% through 2032, driven by the global shift towards renewable energy sources and the escalating demand for wind power generation.

The vacuum injection moulding technology held a market share of over 44.7% in 2022 & is projected to witness substantial gains through 2032, driven by its ability to produce complex and high-quality composite parts with consistent material distribution and reduced void content.

North America market size for wind turbine composite materials held a revenue share of 34.7% in 2022 and is anticipated to grow robustly through 2032 driven by favourable government policies, tax incentives, and initiatives promoting clean energy adoption.

Solvay S.A., Mitsubishi Chemical Corporation, SABIC, Evonik Industries AG, Zoltek Companies, Inc. are some of the major industry contenders.