Wind Turbine Composite Materials Market Size - Global Industry Share, Analysis, Trends and Forecast 2022 - 2030

Introduction

Wind turbine composite material forms a vital component of wind turbine for the production of turbine rotor blade. Composite material is made up of matrix and fiber to offer physical strength and distributes loads in composite. The matrix material used acts as a binder and maintains spacing of the fiber material, thus protecting the fiber from environmental and abrasion damage. The composite material manufactured from fortification of matrix and fiber is far superior from conventional metals such as aluminum and steel.

Market Dynamics

Increasing wind power generation capacity and increasing demand of larger blades are majorly driving the growth of this market. In addition, stringent environmental regulations related to emissions from burning conventional fuel coupled with government support for wind power projects is driving the growth of this market. High cost of composite materials and uncertain global economic condition is restraining the growth of this market to some extent. Technological advancements in advance composites and growing compliance for carbon fiber reinforcement are the key trends in this market. Untapped markets in Middle East and Africa and research and development for low cost advanced composites are anticipated to boost the growth of this market in near future.

In North America, wind turbine composite materials market is anticipated to grow at a noteworthy rate throughout the forecast period. The governments of Canada and US are subtle to environment destruction produced by fuel burnt for power. High power consumption in North America has led to the government to incentivize substitute sources of energy. This has given rise to the wind turbine composite materials industry in this region.

Report Coverage

The market research study on “Wind Turbine Composite Materials Market (Type: Glass Fiber, Carbon Fiber, Others; Application: Wind Blade, Nacelle, Tower, Base, Others; Manufacturing Process: Resin Infusion Technology, Prepreg, Hand Lay-up, Others) – Global Industry Analysis, Market Size, Opportunities and Forecast, 2017 – 2023” offers a detailed study on wind turbine composite materials market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact analysis are provided. Information about Porter's five forces analysis is also mentioned. The report provides insights on global wind turbine composite materials market, its type, application, manufacturing process, and major geographic regions. The report covers the basic development policies and layouts of technology development processes. Secondly, the report covers global wind turbine composite material market size, and the segment markets by type, application, manufacturing process, and geography along with the information on companies operating in the market. The wind turbine composite materials market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Rest of the World (RoW). For each region, the market sizes for different segments have been covered under the scope of report. There are large numbers of wind turbine composite material manufacturers present in the market. Some of the major manufacturers include Teijin Limited, LM Wind Power, Cytec Solvay Group, Vestas Wind System A/S, Hexcel Corporation, Koninklijke Ten Cate NV, Toray Industries Inc, Gurit Holding AG, TPI Corporation and Molded Fiber Glass Companies among others.

The global wind turbine composite materials market is segmented as below:

• Glass Fiber
• Carbon Fiber
• Others

• Wind Blade
• Nacelle
• Tower
• Base
• Others

• Resin Infusion Technology
• Prepreg
• Hand Lay-up
• Others