Wind Turbine Composite Materials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Fiber Type (Glass Fiber, Carbon Fiber, and Others), Technology (Vacuum Injection Molding, Prepreg, Hand Lay-Up, and Others), Application (Wind blades, Nacelles, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East & Africa).

Market Snapshot

Wind Turbine Composite Materials Market - Market Summary
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >7 %

Need a report that reflects how COVID-19 has impacted this market and its growth?

Market Overview

The global wind turbine composite materials market is expected to grow at with a CAGR greater than 7% during the forecast period. One of the major factors driving the market is the growing application of carbon fiber in wind blades. However, Recyclability Issue of Composites is likely to hinder the growth of the market studied. 

  • Growing Wind Energy Installations is expected to provide a major growth opportunity for the market studied.
  • Asia-Pacific accounted for the highest share of the market and is likely to continue dominating the market during the forecast period.
  • Among the application areas, wind turbine blades accounted for the highest market share and is expected to dominate the market studied during the forecast period

Scope of the Report

The Wood Turbine Composites Materials market report include: 

Fiber Type
Glass Fiber
Carbon Fiber
Others
Technology
Vacuum Injection Molding
Prepreg
Hand Lay-Up
Others
Application
Wind Blades
Nacelles
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East & Africa
Saudi Arabia
South Africa
Rest of Middle-East & Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Wind Blades to Dominate the Market

  • In wind turbines, composites are majorly used in the production of wind turbine blades. Wind turbine blades serve as the most important composite based part of the turbine. 
  • The rising demand for wind energy is leading to the construction of larger wind blades that offer higher power output, which is, in turn, resulting in the increased consumption of composite materials for blades
  • With the development of floating wind turbines, the offshore opportunities for wind energy has increased due to comparatively lesser cost and easy installation. 
  • This is projected to lead to the increase in the production of wind turbines and its components made of composites, which is likely to positively influence the wind turbine composite materials market.
  • Hence, owing to the above-mentioned factors, application in wind turbines is expected to dominate the market during the forecast period.
Wind Turbine Composite Materials Market - Revenue Share

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to lead the market for wind turbine composite materials owing to the increasing wind energy infrastructure in the region.
  • China accounts for the largest share of the global wind installed capacity. Moreover, the country announced its plan to invest about USD 360 billion on renewable energy by 2020, turning down the plan to build 85 coal-fired power plants, which is expected to increase the wind energy installations in the country in the coming years, further leading to increase in the production of wind turbines.
  • India has the fourth largest installed capacity in wind power currently and is expected to increase its wind power capacity in the coming years which is expected to drive the market studied.
  • Hence, owing to the above-mentioned factors, Asia-Pacific is likely to dominate the market studied during the forecast period.
Wind Turbine Composite Materials Market - Regional Trend

Competitive Landscape

The wind turbine composite materials market is moderately fragmented as the market share is divided between many players. Key players in the market includeLianyungang Zhongfu Lianzhong Composites Group Co.,Ltd, Hexcel Corporation, Teijin Limited, Toray Industries Inc. and Vestas Wind Systems A/S, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Application of Carbon Fiber in Wind Blades

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Recyclability Issue of Composites

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value-chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Fiber Type

      1. 5.1.1 Glass Fiber

      2. 5.1.2 Carbon Fiber

      3. 5.1.3 Others

    2. 5.2 Technology

      1. 5.2.1 Vacuum Injection Molding

      2. 5.2.2 Prepreg

      3. 5.2.3 Hand Lay-Up

      4. 5.2.4 Others

    3. 5.3 Application

      1. 5.3.1 Wind Blades

      2. 5.3.2 Nacelles

      3. 5.3.3 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 ASEAN Countries

        6. 5.4.1.6 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East & Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Exel Composites

      2. 6.4.2 Gurit Holding AG

      3. 6.4.3 Hexcel Corporation

      4. 6.4.4 Reliance Industries Limited

      5. 6.4.5 Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd

      6. 6.4.6 Molded Fiber Glass Companies

      7. 6.4.7 Siemens AG

      8. 6.4.8 Teijin Limited

      9. 6.4.9 Toray Industries, Inc.

      10. 6.4.10 TPI Corporation

      11. 6.4.11 Vestas

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Offshore Wind Energy Installations

**Subject to Availability

You can also purchase parts of this report. Do you want to check out a section wise price list?

Frequently Asked Questions

The Wind Turbine Composite Materials Market market is studied from 2016 - 2026.

The Wind Turbine Composite Materials Market is growing at a CAGR of >7% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Hexcel Corporation, Teijin Limited , Toray Industries, Inc. , Vestas, Lianyungang Zhongfu Lianzhong Composites Group Co.,Ltd are the major companies operating in Wind Turbine Composite Materials Market.

80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!