Wind Turbine Composites Material Market: By Resin Type, By Fiber Type, By Application, By Manufacturing Process and Geograpy
Wind Turbine Composites Material Market size was valued at US$ 7.89 billion in 2023 and is poised to grow at a CAGR of 10.4% during the forecast period 2024 to 2030. The global market provides a detailed overview of the market and that can be segmented by resin type, fiber type, application, and manufacturing process. By resin type, the market has been segmented into epoxy, polyester, and vinyl ester. The epoxy segment is likely to be the largest and fastest-growing segment in terms of resin type. Based on fiber type, the market is segmented into glass fiber and carbon fiber.
Among these, the glass fiber segment is expected to have the fastest-growing market during the forecast period 2024-2030. On the basis of application, the market is segmented into blades, nacelles, and other applications. The blades segment is likely to be the largest and fastest-growing segment in the market. By manufacturing process, the market is segregated into vacuum injection molding, prepreg, and hand lay-up. Among these, the vacuum injection molding segment is expected to have the fastest-growing market during the forecast period 2023-2029.
Study Period
2024-2030Base Year
2023CAGR
10.4%Largest Market
Asia PacificFastest Growing Market
Asia-Pacific
Wind energy generation is currently expanding in developing countries, while its importance in wealthy countries stays unchanged. Despite unfavorable pricing patterns, increasing environmental consciousness across countries has increased its popularity over time. Huge hydroelectric projects, for example, offer the lowest energy prices when compared to the wind sector. As wind energy is both clean and renewable, there is universal consensus that investment in R&D would improve the sector's cost profile and competitive edge over other energy sources.
Asia Pacific is the largest region in Wind Turbine Composites Material Market.
Latin America
Europe
Asia Pacific
Middle East
North America
|
Report Benchmarks |
Details |
|
Report Study Period |
2024-2030 |
|
Market Size in 2023 |
US$ 7.89 billion |
|
Market CAGR |
10.4% |
|
By Resin Type |
|
|
By Fiber Type |
|
|
By Application |
|
|
By Manufacturing |
|
|
By Region |
|
Download Free Sample Report
Wind turbine composites material market size was valued at US$ 7.89 billion in 2023 and is projected to grow at a CAGR of 10.4% from 2024-2030
The major players in the global wind turbine composites material market are LM Wind Power, Avic Huiteng Wind Power Equipment Company Limited, Vestas Wind Systems A/S, Gamesa Corporation Technology, TPI Composites, Inc., Suzlon Energy Limited, AREVA, Siemens AG, Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd, Mfg Wind, Nordex Se, Kemrock Industries and Exports Limited, Enercon GmbH, Senvion and United Power.
Asia Pacific market is the fastest-growing region for Wind Turbine Composites Material Market
| 1. Executive Summary |
| 2. Global Wind Turbine Composites Material Market Introduction |
| 2.1. Global Wind Turbine Composites Material Market Taxonomy |
| 2.2. Global Wind Turbine Composites Material Market Definitions |
| 2.2.1. By Resin Type |
| 2.2.2. By Fiber Type |
| 2.2.3. By Application |
| 2.2.4. By Manufacturing Process |
| 2.2.5. By Region |
| 3. Global Wind Turbine Composites Material Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Wind Turbine Composites Material Market Dynamic Factors - Impact Analysis |
| 4. Global Wind Turbine Composites Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Wind Turbine Composites Material Market, By Resin Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1. Epoxy |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Polyester |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Vinyl Ester |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Wind Turbine Composites Material Market, By Fiber Type, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1. Glass Fiber |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Carbon Fiber |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 7. Global Wind Turbine Composites Material Market, By Application, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1. Blades |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Nacelles |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Other Applications |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8. Global Wind Turbine Composites Material Market, By Manufacturing Process, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1. Vacuum Injection Molding |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Prepreg |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Hand Lay-up |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 9. Global Wind Turbine Composites Material Market Forecast, By Region, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia-Pacific |
| 9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Latin America |
| 9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Middle East and Africa |
| 9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 9.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 9.6. Global Wind Turbine Composites Material Market - Opportunity Analysis Index, By Resin Type, Fiber Type, Application, Manufacturing Process, and Region, 2024 - 2030 |
| 10. North America Wind Turbine Composites Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 10.1. Resin Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Epoxy |
| 10.1.2. Polyester |
| 10.1.3. Vinyl Ester |
| 10.2. Fiber Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1. Glass Fiber |
| 10.2.2. Carbon Fiber |
| 10.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1. Blades |
| 10.3.2. Nacelles |
| 10.3.3. Others (Towers and Hub) |
| 10.4. Manufacturing Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Vacuum Injection Molding |
| 10.4.2. Prepreg |
| 10.4.3. Hand Lay-up |
| 10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.5.1. USA |
| 10.5.2. Canada |
| 10.6. North America Wind Turbine Composites Material Market - Opportunity Analysis Index, By Resin Type, Fiber Type, Application, Manufacturing Process, and Country, 2024 - 2030 |
| 10.7. North America Wind Turbine Composites Material Market Dynamics Trends |
| 11. Europe Wind Turbine Composites Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 11.1. Resin Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Epoxy |
| 11.1.2. Polyester |
| 11.1.3. Vinyl Ester |
| 11.2. Fiber Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1. Glass Fiber |
| 11.2.2. Carbon Fiber |
| 11.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1. Blades |
| 11.3.2. Nacelles |
| 11.3.3. Others (Towers and Hub) |
| 11.4. Manufacturing Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. Vacuum Injection Molding |
| 11.4.2. Prepreg |
| 11.4.3. Hand Lay-up |
| 11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.5.1. Germany |
| 11.5.2. UK |
| 11.5.3. France |
| 11.5.4. Spain |
| 11.5.5. Italy |
| 11.5.6. Russia |
| 11.5.7. Rest of Europe |
| 11.6. Europe Wind Turbine Composites Material Market - Opportunity Analysis Index, By Resin Type, Fiber Type, Application, Manufacturing Process, and Country, 2024 - 2030 |
| 11.7. Europe Wind Turbine Composites Material Market Dynamics Trends |
| 12. Asia-Pacific Wind Turbine Composites Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 12.1. Resin Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Epoxy |
| 12.1.2. Polyester |
| 12.1.3. Vinyl Ester |
| 12.2. Fiber Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1. Glass Fiber |
| 12.2.2. Carbon Fiber |
| 12.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1. Blades |
| 12.3.2. Nacelles |
| 12.3.3. Others (Towers and Hub) |
| 12.4. Manufacturing Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Vacuum Injection Molding |
| 12.4.2. Prepreg |
| 12.4.3. Hand Lay-up |
| 12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.5.1. China |
| 12.5.2. India |
| 12.5.3. Japan |
| 12.5.4. ASEAN |
| 12.5.5. Australia & New Zealand |
| 12.5.6. Rest of Asia-Pacific |
| 12.6. Asia-Pacific Wind Turbine Composites Material Market - Opportunity Analysis Index, By Resin Type, Fiber Type, Application, Manufacturing Process, and Country, 2024 - 2030 |
| 12.7. Asia-Pacific Wind Turbine Composites Material Market Dynamics Trends |
| 13. Latin America Wind Turbine Composites Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 13.1. Resin Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Epoxy |
| 13.1.2. Polyester |
| 13.1.3. Vinyl Ester |
| 13.2. Fiber Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1. Glass Fiber |
| 13.2.2. Carbon Fiber |
| 13.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1. Blades |
| 13.3.2. Nacelles |
| 13.3.3. Others (Towers and Hub) |
| 13.4. Manufacturing Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Vacuum Injection Molding |
| 13.4.2. Prepreg |
| 13.4.3. Hand Lay-up |
| 13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.5.1. Brazil |
| 13.5.2. Mexico |
| 13.5.3. Argentina |
| 13.5.4. Rest of Latin America |
| 13.6. Latin America Wind Turbine Composites Material Market - Opportunity Analysis Index, By Resin Type, Fiber Type, Application, Manufacturing Process, and Country, 2024 - 2030 |
| 13.7. Latin America Wind Turbine Composites Material Market Dynamics Trends |
| 14. Middle East and Africa Wind Turbine Composites Material Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030 (Revenue, USD Mn) |
| 14.1. Resin Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1. Epoxy |
| 14.1.2. Polyester |
| 14.1.3. Vinyl Ester |
| 14.2. Fiber Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1. Glass Fiber |
| 14.2.2. Carbon Fiber |
| 14.3. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1. Blades |
| 14.3.2. Nacelles |
| 14.3.3. Others (Towers and Hub) |
| 14.4. Manufacturing Process Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 14.4.1. Vacuum Injection Molding |
| 14.4.2. Prepreg |
| 14.4.3. Hand Lay-up |
| 14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 14.5.1. Gulf Cooperation Council (GCC) Countries |
| 14.5.2. South Africa |
| 14.5.3. Rest of MEA |
| 14.6. MEA Wind Turbine Composites Material Market - Opportunity Analysis Index, By Resin Type, Fiber Type, Application, Manufacturing Process, and Country, 2024 - 2030 |
| 14.7. MEA Wind Turbine Composites Material Market Dynamics Trends |
| 15. Competition Landscape |
| 15.1. Strategic Dashboard of Top Market Players |
| 15.2. Company Profiles (Introduction, Financial Analysis, Key Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 15.2.1. LM Wind Power |
| 15.2.2. Avic Huiteng Wind Power Equipment Company Limited |
| 15.2.3. Vestas Wind Systems A/S |
| 15.2.4. Gamesa Corporation Technology |
| 15.2.5. TPI Composites, Inc. |
| 15.2.6. Suzlon Energy Limited |
| 15.2.7. AREVA |
| 15.2.8. Siemens AG |
| 15.2.9. Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd |
| 15.2.10. Mfg Wind |
| 15.2.11. Nordex Se |
| 15.2.12. Kemrock Industries and Exports Limited |
| 15.2.13. Enercon GmbH |
| 15.2.14. Senvion |
| 15.2.15. United Power |
| 16. Research Methodology |
| 17. Key Assumptions and Acronyms |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.
Download Free Sample
