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The wind turbine composite materials market size is forecast to increase by USD 24.74 billion, at a CAGR of 21.9% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand for renewable energy generation and the adoption of lightweight components in structural parts such as turbine blades, rotors, and nacelles. Digitalization is playing a pivotal role in this market, with predictive analytics being used to optimize energy production and maintenance schedules. Sustainability certifications are also becoming mandatory for wind energy projects, driving the need for composite materials that meet stringent environmental standards. In addition, the trend towards offshore wind energy is creating new opportunities for composite materials, as they offer the necessary strength and durability for use in harsh marine environments. However, challenges remain, including the high cost of composite materials and the complexities involved in recycling wind turbine blades. Addressing these challenges will be key to the continued growth of the market.
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The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The blades segment is estimated to witness significant growth during the forecast period. The market is experiencing notable advancements, primarily in the realm of blade manufacturing. Approximately 70,000 wind turbines are in operation in the U.S., with predictions suggesting a substantial expansion. By 2050, over 2 million tons of wind turbine blade materials are projected to be utilized in the U.S., necessitating the need for eco-friendly and efficient alternatives. Historically, wind turbine blades have been fabricated using resins derived from non-renewable resources, such as petroleum, which are energy-consumptive to produce and difficult to recycle without compromising the material's integrity.
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The blades segment was valued at USD 5.23 billion in 2018. The industry is exploring sustainable solutions to reduce carbon emissions and minimize waste. Composite materials made from Aramid Fiber, Basalt Fiber, Thermoplastic, and Thermoset are gaining traction due to their recyclability and enhanced performance. Manufacturing techniques like Injection molding, compression molding, pultrusion, filament winding, and layup are being employed to create these advanced composite materials for wind turbine blades.
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Europe is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The European wind turbine composite materials market is experiencing significant change, with a focus on sustainable end-of-life management of wind farms becoming increasingly important. At the annual End of Life Issues and Strategies (EoLIS) event by WindEurope, the processes involved in dismantling and disposing of old wind turbines, as well as repowering and replacing them with new, more efficient models, were discussed. Repowering is crucial for Europe to meet its goal of doubling wind energy capacity by 2030, a target essential for climate and energy security. However, by 2030, Europe is projected to decommission more wind capacity than it repowers, with over 13 GW of existing capacity set to be decommissioned and only 9 GW of repowered capacity anticipated. Composite materials, such as polyester, vinyl ester, and polyurethane, play a vital role in wind turbine manufacturing. Vacuum injection molding and hand lay-up are common manufacturing processes used to create wind blades. As environmental regulations continue to evolve, the demand for lightweight materials with low greenhouse gas emissions is increasing.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AOC, LLC - The company manufactures carbon fiber-reinforced composites, polyesters, and resins for use in wind turbines.
Technavio provides the ranking index for the top 20 companies along with insights on the market positioning of:
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Market structure |
Fragmented |
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YoY growth 2023-2024 |
21.2 |
The market is experiencing a significant rise as countries worldwide seek to reduce their reliance on fossil fuels and promote green and clean energy. Composite materials, including carbon fiber, aramid fiber, basalt fiber, epoxy, polyester, vinyl ester, and polyurethane, have emerged as essential components in the wind power industry due to their unique properties that enhance wind turbine efficiency and durability. The use of composite materials in wind power contributes to sustainability by reducing carbon emissions during production and operation. These materials' lightweight properties enable the production of larger, more efficient wind turbines, which in turn generate more renewable energy. Furthermore, composite materials' recyclability aligns with the circular economy concept, allowing for the reuse and repurposing of end-of-life components. Wind power, a leading contributor to the renewable energy sector, is becoming increasingly important for energy security and reducing greenhouse gas emissions.
Onshore wind capacity has grown exponentially, with rotor blades, nacelles, and wind propellers being critical structural components made primarily from composite materials. Offshore wind power, a rapidly expanding segment, also relies heavily on composite materials for its turbines and foundations due to their high strength-to-weight ratio and resistance to harsh marine environments. Carbon fiber, a popular composite material, is extensively used in wind turbine manufacturing due to its high strength, low weight, and excellent durability. Its use in rotor blades and structural parts has led to increased wind turbine efficiency, enabling the production of more renewable energy per unit of installed capacity. The use of composite materials in wind turbines' lightweight components and structural parts significantly reduces the overall weight of the turbine, leading to lower transportation and installation costs. Additionally, these materials' high strength-to-weight ratio allows for the production of larger rotors, which increases wind energy production.
Composite materials, such as carbon fiber and epoxy, are extensively used in the production of wind turbine blades and rotors. Their high strength-to-weight ratio and resistance to fatigue make them ideal for withstanding the stresses and loads experienced during wind turbine operation. Nacelles and Wind Propellers: Composite materials are also used in the manufacturing of wind turbine nacelles and wind propellers. The nacelle houses the generator and other essential components, while the wind propeller converts wind energy into electrical energy. The use of composite materials in these components enhances their durability and resistance to harsh environmental conditions, ensuring optimal wind energy production. Epoxy, polyester, vinyl ester, and polyurethane are commonly used resins in the production of composite materials for wind turbines. These resins offer various benefits, such as high strength, excellent chemical resistance, and good adhesion properties, making them suitable for use in wind turbine components. Vacuum Injection Molding: Vacuum injection molding is a manufacturing process used to produce composite components for wind turbines. This process ensures the consistent distribution of resin throughout the composite material, resulting in high-quality components with minimal porosity and voids.
Progress in solar-hydro hybrid plant development is notably driving market growth. The market is experiencing significant growth due to the increasing adoption of renewable energy and green energy initiatives. Energy security and sustainability are key drivers in this sector, with a focus on circular economy principles. Wind power, both onshore and offshore, is a significant contributor to this trend, with composite materials playing a crucial role in the production of wind turbine components, particularly rotor blades. Digital transformation is also influencing the wind turbine composite materials market, with advancements in technology leading to improved manufacturing processes and more efficient energy production.
The integration of renewable energy sources, such as wind power, with other energy sources, like solar, is a promising development. The Alqueva power plant in Portugal, which features Europe's largest floating solar-hydro hybrid system, is an excellent example of this innovation. This project, which combines solar and hydropower, demonstrates the potential for creating efficient energy solutions by integrating different renewable sources. The initiative has benefited from cost reductions in anchoring and mooring systems, as well as the east-west orientation of the solar panels, which minimizes wind drag and reduces overall costs. Thus, such factors are driving the growth of the market during the forecast period.
Advancements in recycling technologies for wind turbine blades is the key trend in the market. The market is experiencing notable progress in the area of recycling technologies, specifically for wind turbine blades. In March 2024, researchers at the University of Maine received a USD 75,000 grant from the Department of Energy's Wind Energy Technologies Office to investigate innovative recycling methods.
This initiative represents a significant stride towards a circular wind energy economy. By replacing short carbon fibers with shredded and milled wind blade material, the team intends to mechanically recycle 100% of the composite blade material. Predictive analytics and digitalization are also playing a crucial role in optimizing energy generation from wind turbines. Sustainability certifications continue to be a priority in the industry, ensuring the use of eco-friendly structural parts such as turbine blades, rotors, nacelles, wind propellers, and offshore wind energy components adhere to stringent environmental standards. Thus, such trends will shape the growth of the market during the forecast period.
Rising concerns over wind turbine blade disposal is the major challenge that affects the growth of the market. The wind turbine composite materials market is witnessing a growing emphasis on eco-friendly and recyclable alternatives due to the environmental concerns surrounding the disposal of wind turbine blades. Annually, around 800,000 tons of these blades, primarily made of fiberglass reinforced plastics (FRP) and coated with epoxy resin, are disposed of in landfills. The advanced composite materials used in turbine blades offer superior mechanical properties and fatigue resistance, making them ideal for withstanding extreme weather conditions.
However, their disposal poses a significant challenge due to the complexities involved in recycling. The tough epoxy coating makes it difficult to separate the composite materials without damaging the plastic parts or the glass fibers. As a result, there is a growing demand for innovative solutions to address this issue and promote sustainable manufacturing localization in the wind energy sector. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market research and growth, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
The market is witnessing significant growth due to the increasing focus on renewable energy and green energy sources for energy security and sustainability. Composite materials, particularly carbon fiber and fiberglass reinforced plastics (FRP), play a crucial role in the wind energy sector, with applications in onshore and offshore wind turbines. Rotor blades, hubs, nacelles, towers, and cables are key structural components made from advanced composite materials. Digital transformation is revolutionizing the wind energy industry, with e-commerce platforms and predictive analytics enabling efficient manufacturing and maintenance. Recyclable materials and bio-based alternatives are gaining popularity to promote a circular economy and reduce carbon footprint. Advanced composite materials, including eco-friendly materials like aramid fiber, basalt fiber, thermoplastic, and thermoset, offer high strength, durability, and weather resistance. Manufacturing localization and the use of non-toxic adhesives are essential for reducing transportation costs and ensuring sustainability certifications.
Wind turbine components, such as blades, rotors, and propellers, require excellent mechanical properties, including fatigue resistance, to ensure optimal energy generation. Injection molding, compression molding, pultrusion, filament winding, and layup are common manufacturing processes used to produce these components. Wind energy production is essential for reducing greenhouse gas emissions and providing a viable alternative to fossil fuels. Composite materials contribute significantly to wind turbine efficiency by providing lightweight components and structural parts, such as blades and rotors, with superior mechanical properties. However, challenges such as fungal growth and marine fouling require continuous research and development to ensure wind turbines remain efficient and effective.
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Market Scope |
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Report Coverage |
Details |
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Page number |
221 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 21.9% |
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Market Growth 2024-2028 |
USD 24.74 billion |
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Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
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Performing market contribution |
Europe at 45% |
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Key countries |
China, US, Germany, Brazil, Sweden, Finland, France, India, UK, and Spain |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AOC, LLC, Arkema SA, Covestro AG, Exel Composites, Gurit Holding AG, Hexcel Corp., Huntsman Corp., Mitsubishi Chemical Corp., Nordex SE, Owens Corning, SGL Carbon SE, Solvay SA, TEIJIN Ltd, Toray Industries Inc., and TPI Composites Inc. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, AI impact on market trends, COVID -19 impact and recovery analysis and future consumer dynamics, market condition analysis for the market forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Application
9 Market Segmentation by Material
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
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