Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Base Year
Historical Year
Forecast Year
The global wind turbine composite material market size reached approximately USD 12.28 billion in 2023. The market is further projected to grow at a CAGR of 7.8% between 2024 and 2032, reaching a value of USD 24.41 billion by 2032.
Wind turbine composites refer to composites that are used for reinforcing materials in various wind applications. The utilisation of these composites offers various advantages including low maintenance costs, long shelf life, and resistance against corrosion, among others. The different types of wind turbine composite fibres include glass fibre and carbon fibre.
On the basis of resin type, the market is divided into polyester, epoxy, and vinyl ester, among others. Based on fibre type, the market is bifurcated into carbon fibre and glass fibre. On the basis of technology, the market is segregated into prepreg, vacuum injection moulding, and hand lay-up.
Based on application, the market is classified into nacelles and wind blades, among others. On the basis of region, the wind turbine composite material market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Blades are anticipated to account for a significant wind turbine composite material market share. The rising demand for wind energy is bolstering the requirement for large wind blades for extended high power output. The utilisation of composites on wind turbine blades provides them with high strength to weight ratio, resistance to corrosion, long shelf life, improved fatigue resistance, and higher stiffness, among others.
The Asia Pacific is expected to witness significant growth over the forecast period. This growth can be attributed to the emergence of electronic devices in various countries across the Asia Pacific and the increasing energy requirements due to the rapid population growth. The strong presence of several key market players in the region including Toray Industries, Inc. and Teijin Ltd., among others is supporting the market expansion in the region and bolstering the wind turbine composite material market demand.
Toray Industries, Inc., headquartered in Tokyo, Japan, is one of the leading chemical manufacturing companies that is involved in the production of fibres and textiles, performance chemicals, and carbon fibre composite materials.
Hexcel Corporation, headquartered in Connecticut, United States, is involved in the manufacture of resin systems and carbon fibre reinforcements. The company also specialises in wind energy, composite technology, and commercial aerospace, among others.
Teijin Ltd., headquartered in Tokyo, Japan, is one of the leading pharmaceutical, information technology, and chemical company that was founded in 1918. The company is involved in the production of films, plastics, advanced fibres, and carbon fibres, among others.
Other wind turbine composite material market key players include Exel Composites Oyj, Huntsman International LLC, TPI Composites Inc., Gurit Services AG, China National Building Material Group Co., Ltd., Reliance Industries Limited, and Molded Fiber Glass Companies, among others.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
Breakup by Resin Type |
|
Breakup by Fibre Type |
|
Breakup by Technology |
|
Breakup by Application |
|
Breakup by Region |
|
Market Dynamics |
|
Competitive Landscape |
|
Companies Covered |
|
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
The market reached a value of approximately USD 12.28 billion in 2023.
The market is projected to grow at a CAGR of 7.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 24.41 billion by 2032.
The major market drivers include rising adoption of wind energy and material innovation.
The key trends fuelling the growth of the market include increasing research and development activities and rising awareness about the various advantages associated with the utilisation of wind turbine composites.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The resin types include polyester, epoxy, and vinyl ester, among others.
The key players in the market are Toray Industries, Inc., Hexcel Corporation, Teijin Ltd., Exel Composites Oyj, Huntsman International LLC, TPI Composites Inc., Gurit Services AG, China National Building Material Group Co., Ltd., Reliance Industries Limited, and Molded Fiber Glass Companies, among others.
Purchase Full Report
Datasheet
Single User License
One User
Five User License
Five Users
Corporate License
Unlimited Users
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
Share