The global market for Wind Turbine Composite Materials is estimated at US$14.3 Billion in 2023 and is projected to reach US$23.1 Billion by 2030, growing at a CAGR of 7.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the wind turbine composite materials market is driven by several factors. Driven by the continuous rise in installation of wind turbines globally, the demand for composite materials used in the manufacture of various structural parts of turbines is on the rise. Growing wind generation capacity and consistent rise in demand for larger blades fuel market gains. With strict environmental regulations being implemented to reduce emissions related from conventional fuels, the wind generation projects have been gathering pace in the recent years.
Supportive government policies and regulations are also contributing towards increased investments in alternative energy sources like wind energy, thus supporting demand for composite materials. Government funding into wind energy projects continues to grow. The constantly growing installations of offshore wind power projects in particular offer tremendous growth opportunities. The continuous reduction in cost of composite materials over the years also offers support for the market's growth. The ongoing research and development efforts to create more advanced and cost-effective composite materials are expected to support the continued growth of the market by enabling the production of superior components at lower costs.
The growth in the wind turbine composite materials market is driven by several factors. Driven by the continuous rise in installation of wind turbines globally, the demand for composite materials used in the manufacture of various structural parts of turbines is on the rise. Growing wind generation capacity and consistent rise in demand for larger blades fuel market gains. With strict environmental regulations being implemented to reduce emissions related from conventional fuels, the wind generation projects have been gathering pace in the recent years.
Supportive government policies and regulations are also contributing towards increased investments in alternative energy sources like wind energy, thus supporting demand for composite materials. Government funding into wind energy projects continues to grow. The constantly growing installations of offshore wind power projects in particular offer tremendous growth opportunities. The continuous reduction in cost of composite materials over the years also offers support for the market's growth. The ongoing research and development efforts to create more advanced and cost-effective composite materials are expected to support the continued growth of the market by enabling the production of superior components at lower costs.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Glass Fiber Composite Materials segment, which is expected to reach US$12.9 Billion by 2030 with a CAGR of a 6.9%. The Carbon Fiber Composite Materials segment is also set to grow at 7.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.5 Billion in 2023, and China, forecasted to grow at an impressive 8.5% CAGR to reach $5.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Wind Turbine Composite Materials Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Wind Turbine Composite Materials Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Wind Turbine Composite Materials Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Gurmit Holding AG, LM Wind Power, Molded Fiber Glass Companies, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 31 Featured):
- Gurmit Holding AG
- LM Wind Power
- Molded Fiber Glass Companies
- Teijin Limited
- Toray Industries, Inc.
- TPI Composites, Inc.
- Vestas Wind Systems A/S
- Siemens Gamesa Renewable Energy, S.A.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISLATIN AMERICAREST OF WORLDIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Gurmit Holding AG
- LM Wind Power
- Molded Fiber Glass Companies
- Teijin Limited
- Toray Industries, Inc.
- TPI Composites, Inc.
- Vestas Wind Systems A/S
- Siemens Gamesa Renewable Energy, S.A.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 326 |
| Published | March 2025 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 14.3 Billion |
| Forecasted Market Value ( USD | $ 23.1 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
