Wind Turbine Composites Market

Global Wind Turbine Composites Market Size, Trends & Analysis - Forecasts to 2028 By Resin Type (Epoxy, Vinyl Ester, Polyester, Polyurethane), By Fiber Type (Glass, Carbon), By Manufacturing Process (Vacuum Injection Molding, Prepreg, Hand Lay-up), By Application (Blades, Nacelles, Others), By Region (North America, Asia Pacific, Central and South America, Europe, Middle East and Africa), Competitive Landscape, Company Market Share Analysis, and Competitor Analysis

Category Energy & Power
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This report was recently updated on May 22 2024 with the latest and most recent market numbers

Global Wind Turbine Composites Market Size

The global wind turbine composites market is projected to grow at a CAGR of 7.2% from 2023 to 2028.

The wind turbine composites market is estimated to grow due to growing installations of wind energy during the forecast period. They are lightweight materials that aid in the efficient capture of wind energy. Carbon fibre and glass fibre are commonly used in wind turbine composites. These composites are crucial in the production of wind turbine components such as rotor blades. Wind turbine composite materials provide greater object stability, reliability, and shelf life. In the last two decades, the global installed capacity of wind turbines has increased at a rapid rate.

Furthermore, these composite materials outperform traditional materials such as aluminium or steel because they have higher corrosion resistance, a longer lifecycle, requires less maintenance, and have a superior strength-to-weight ratio. As a result, all of these factors are expected to drive demand for wind turbine composite materials in the global market.

The wind turbine composite market is expected to expand rapidly due to increased demand for lightweight materials with high efficiency, competitive pricing, and energy security. Other government initiatives and environmental regulations promoting the use of clean energy are expected to increase the use of wind energy and, as a result, expand the global wind turbine composite market during the forecast period of 2023-2028.

The World Wind Energy Association reports that global windmill capacity reached 597 gigatonnes in 2018. The pressing need to meet the Paris Climate Change Agreement and the SDGs has accelerated government-led investments in new wind farm projects. Wind farm installation is expected to be driven by the decommissioning of coal-fired and nuclear power plants, as well as the growing demand for clean energy. The installation of new wind turbines in offshore and onshore projects as a result of the government's increased emphasis on renewable energy sources is driving up demand for wind turbine composites.

global wind turbine composites market

Global Wind Turbine Composites Market: By Resin Type

The epoxy segment is expected to be the fastest-growing segment in the market from 2023-2028, owing to its properties like light weight, resistance to fatigue, good adhesion, and lack of shrinkage after cooling. According to a recent Epoxy Resin Committee study, most European wind blade manufacturers use epoxy resin. They are also used to coat and protect other components such as turbine insulators, stator end windings, and field coils for rotor brackets. Epoxy resins can be used to coat concrete and steel windmill towers, extending their lifespan and thus contributing to segment expansion.

Global Wind Turbine Composites Market: By Fiber Type

As per fibre type, the global wind turbine composites market is bifurcated into glass fiber and carbon fiber. The glass fiber segment is anticipated to be dominant over the forecast period in terms of value and volume. Glass fibre composites' high-strength material, chemical resistance, great stiffness, ease of availability and cost-effectiveness are key factors driving demand during the forecast period.

Global Wind Turbine Composites Market: By Manufacturing Process

The vacuum injection molding segment is anticipated to be the fastest-growing segment in the market from 2023-2028. Because of their complex air foil geometry, large sizes, and cost-effectiveness, vacuum injection moulding is widely used in the production of large thermoset composite wind rotor blades. It has had a significant impact on improving the quality of wind turbine composite manufacturing. This method differs from traditional wet lay-up techniques in that reinforcements are laid into a mould dry rather than saturated with fibres. All of the aforementioned factors have contributed to the segment's growth.

Global Wind Turbine Composites Market: By Application

Among all applications of wind turbine composites, the blades segment accounted for the largest share of the wind turbine composites market during the forecast period. The use of composites in wind turbine blades results in a longer shelf life, less maintenance, corrosion resistance, and a high strength-to-weight ratio. As the demand for wind energy grows, larger wind blades with higher output are being built. This is expected to lead to an increase in the production of wind turbines and composite components, which will have a positive impact on the wind turbine composites market.       

asia pacific wind turbine composites market

Global Wind Turbine Composites Market: By Region

Geographically, the market is anticipated to remain stable in North America owing to the increasing power consumption and implementation of strict environmental regulations by the government. Besides, the presence of established key players in the region is likely to offer lucrative market opportunities during the forecast period.

Asia Pacific is predicted to lead the global wind turbine composites market. One of the key factors that are anticipated to provide the market with lucrative growth opportunities over the forecast period, is the increasing demand for composite materials owing to the growing awareness of alternative sources of renewable energy. The growth of this region is also supported by the economic prosperity of nations like China and India.

Global Wind Turbine Composites Market Share and Competitor Analysis

The paramount competitors covered in the global wind turbine composites market include Exel Composites, Gurit Holding AG, Hexcel Corporation, Reliance Industries Limited, Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd, Molded Fiber Glass Companies, Siemens AG, Teijin Limited, Toray Industries, Inc., and PI Corporation among others.

Please note: This is not an exhaustive list of companies profiled in the report.

Chapter 1   Research Methodology

1.1    Research Assumptions

1.2    Research Methodology

1.2.1    Estimates and Forecast Timeline

1.3    Information Procurement

1.3.1    Purchased Database

1.3.2    GME’s Internal Database

1.3.3    Primary Research

1.3.4    Secondary Sources & Third-Party Perspectives

            1.3.4.1    Company Information Sources: Annual Reports, Investor Presentation, Press Release, SEC Filing, Company Blogs & Website

           1.3.4.2 Secondary Data Sources: World Health Organization, Laboratory Corporation of America Holdings, IQVIA, Syneos Health

1.4    Information or Data Analysis

1.4.1    Data Analysis Models

1.5    Market Application & Data Visualization

1.6    Data Validation & Publishing

1.7   Market Model

1.7.1    Model Details

              1.7.1.1 Top-Down Approach

               1.7.1.2 Bottom-Up Approach

1.8    Market Segmentation & Scope

1.9    Market Definition

Chapter 2   Executive Summary

2.1.    Global Market Outlook

2.2     Resin Type Outlook

2.3     Fiber Type Outlook

2.4     Application Outlook

2.5     Manufacturing Process Outlook

2.6     Regional Outlook

Chapter 3   Global Wind Turbine Composites Market Trend Analysis

3.1. Market Introduction

3.2 Penetration & Growth Prospect Mapping

3.3 Metric Data on Healthcare Industry

3.4 Market Dynamic

3.4.1 Market Driver Analysis

3.4.2 Market Restraint Analysis

3.4.3 Industry Challenges

3.4.4 Industry Opportunities

3.5    Porter’s Five Analysis

3.5.1 Supplier Power

3.5.2 Buyer Power

3.5.3 Substitution Threat

3.5.4 Threat from New Entrant

3.6 Market Entry Strategies

Chapter 4   Wind Turbine Composites Market: Resin Type Trend Analysis

4.1   Resin Type: Historic Data vs. Forecast Data Analysis, 2023 vs. 2028

4.2     Epoxy

4.2.1    Market Estimates & Forecast Analysis of Epoxy Segment, By Region, 2020-2028 (USD Billion)

4.3   Vinyl Ester

4.3.1    Market Estimates & Forecast Analysis of Vinyl Ester Markets Segment, By Region, 2020-2028 (USD Billion)

4.4   Polyester

4.4.1    Market Estimates & Forecast Analysis of Polyester Markets Segment, By Region, 2020-2028 (USD Billion)

4.5   Polyurethane

4.5.1    Market Estimates & Forecast Analysis of Polyurethane Markets Segment, By Region, 2020-2028 (USD Billion)

Chapter 5   Wind Turbine Composites Market: Fiber Type Trend Analysis

5.1    Fiber Type: Historic Data vs. Forecast Data Analysis, 2023 vs. 2028

5.2    Glass

5.2.1    Market Estimates & Forecast Analysis of Glass Segment, By Region, 2020-2028 (USD Billion)

5.3     Carbon

5.3.1    Market Estimates & Forecast Analysis of Carbon Segment, By Region, 2020-2028 (USD Billion)

Chapter 6   Wind Turbine Composites Market: Application Trend Analysis

6.1    Application: Historic Data vs. Forecast Data Analysis, 2023 vs. 2028

6.2    Blades

6.2.1    Market Estimates & Forecast Analysis of Blades Segment, By Region, 2020-2028 (USD Billion)

6.3    Nacelles

6.3.1    Market Estimates & Forecast Analysis of Governance, Nacelles Segment, By Region, 2020-2028 (USD Billion)

6.4   Others

6.4.1    Market Estimates & Forecast Analysis of Others Segment, By Region, 2020-2028 (USD Billion)

Chapter 7   Wind Turbine Composites Market: Manufacturing Process Trend Analysis

7.1   Manufacturing Process: Historic Data vs. Forecast Data Analysis, 2023 vs. 2028

7.2    Vacuum Injection Molding         

7.2.1    Market Estimates & Forecast Analysis of Vacuum Injection Molding Segment, By Region, 2020-2028 (USD Billion)

7.3    Prepreg

7.3.1    Market Estimates & Forecast Analysis of Prepreg Segment, By Region, 2020-2028 (USD Billion)

7.4    Hand Lay-up

7.4.1    Market Estimates & Forecast Analysis of Hand Lay-up Segment, By Region, 2020-2028 (USD Billion)

Chapter 8   Wind Turbine Composites Market, By Region

8.1    Regional Outlook

8.2    North America

8.2.1    Market Estimates & Forecast Analysis, By Country 2020-2028(USD Billion)

8.2.2    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.2.3    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.2.4    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.2.5    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.2.6    U.S.

8.2.6.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.2.6.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.2.6.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.2.6.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.2.7    Canada

8.2.7.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.2.7.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.2.7.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.2.7.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.2.8    Mexico

8.2.8.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028 (USD Billion)

8.2.8.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028 (USD Billion)

8.2.8.3    Market Estimates & Forecast Analysis, By Application, 2020-2028 (USD Billion)

8.2.8.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.3    Europe

8.3.1    Market Estimates & Forecast Analysis, By Country 2020-2028(USD Billion)

8.3.2    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.3.3    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.3.4    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.3.5    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.3.6    Germany

8.3.6.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.3.6.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.3.6.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.3.6.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.3.7    UK

8.3.7.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.3.7.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.3.7.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.3.7.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.3.8    France

8.3.8.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.3.8.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.3.8.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.3.8.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.3.9    Russia

8.3.9.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.3.9.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.3.9.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.3.9.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.3.10    Italy

8.3.10.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.3.10.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.3.10.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.3.10.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.3.11    Spain

8.3.11.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.3.11.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.3.11.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.3.11.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.3.12    Rest of Europe

8.3.12.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028 (USD Billion)

8.3.12.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028 (USD Billion)

8.3.12.3    Market Estimates & Forecast Analysis, By Application, 2020-2028 (USD Billion)

8.3.12.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.4    Asia Pacific

8.4.1    Market Estimates & Forecast Analysis, By Country 2020-2028(USD Billion)

8.4.2    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.4.3    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.4.4    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.4.5    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.4.6    China

8.4.6.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.4.6.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.4.6.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.4.6.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.4.7    India

8.4.7.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.4.7.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.4.7.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.4.7.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.4.8    Japan

8.4.8.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.4.8.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.4.8.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.4.8.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.4.9    Australia

8.4.9.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.4.9.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.4.9.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.4.9.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.4.10    South Korea

8.4.10.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.4.10.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.4.10.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.4.10.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.4.11    Rest of Asia Pacific

8.4.11.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028 (USD Billion)

8.4.11.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028 (USD Billion)

8.4.11.3    Market Estimates & Forecast Analysis, By Application, 2020-2028 (USD Billion)

8.4.11.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.5    Central & South America

8.5.1    Market Estimates & Forecast Analysis, By Country 2020-2028(USD Billion)

8.5.2    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.5.3    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.5.4   Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.5.5   Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.5.6    Brazil

8.5.6.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.5.6.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.5.6.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.5.6.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.5.7    Rest of Central & South America

8.5.7.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.5.7.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.5.7.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.5.7.4    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.6    Middle East & Africa

8.6.1    Market Estimates & Forecast Analysis, By Country 2020-2028(USD Billion)

8.6.2    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.6.3    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.6.4    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.6.5    Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.6.6    Saudi Arabia

8.6.6.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.6.6.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.6.6.3   Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.6.6.4   Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.6.7    United Arab Emirates

8.6.7.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.6.7.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.6.7.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.6.7.4   Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.6.8    South Africa

8.6.8.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028(USD Billion)

8.6.8.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028(USD Billion)

8.6.8.3    Market Estimates & Forecast Analysis, By Application, 2020-2028(USD Billion)

8.6.8.4   Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

8.6.9   Rest of Middle East & Africa

8.6.9.1    Market Estimates & Forecast Analysis, By Resin Type, 2020-2028 (USD Billion)

8.6.9.2    Market Estimates & Forecast Analysis, By Fiber Type, 2020-2028 (USD Billion)

8.6.9.3    Market Estimates & Forecast Analysis, By Application, 2020-2028 (USD Billion)

8.6.9.4   Market Estimates & Forecast Analysis, By Manufacturing Process, 2020-2028(USD Billion)

Chapter 9   Competitive Analysis

9.1    Key Global Players, Recent Developments & their Impact on the Industry

9.2    Four Quadrant Competitor Positioning Matrix

9.2.1    Key Innovators

9.2.2    Market Leaders

9.2.3    Emerging Players

9.2.4    Market Challengers

9.3    Vendor Landscape Analysis

9.4    Manufacturing Process Landscape Analysis

9.5    Company Market Share Analysis, 2023

Chapter 10   Company Profile Analysis

10.1    Exel Composites

10.1.1    Company Overview

10.1.2    Financial Analysis

10.1.3    Strategic Initiatives

10.1.4    Resin Type Benchmarking

10.2    Gurit Holding AG

10.2.1    Company Overview

10.2.2    Financial Analysis

10.2.3    Strategic Initiatives

10.2.4    Resin Type Benchmarking

10.3     Hexcel Corporation

10.3.1    Company Overview

10.3.2    Financial Analysis

10.3.3    Strategic Initiatives

10.3.4    Resin Type Benchmarking

10.4    Reliance Industries Limited

10.4.1    Company Overview

10.4.2    Financial Analysis

10.4.3    Strategic Initiatives

10.4.4    Resin Type Benchmarking

10.5    Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd

10.5.1    Company Overview

10.5.2    Financial Analysis

10.5.3    Strategic Initiatives

10.5.4    Resin Type Benchmarking

10.6     Molded Fiber Glass Companies

10.6.1    Company Overview

10.6.2    Financial Analysis

10.6.3    Strategic Initiatives

10.6.4    Resin Type Benchmarking

10.7    Siemens AG

10.7.1    Company Overview

10.7.2    Financial Analysis

10.7.3    Strategic Initiatives

10.7.4    Resin Type Benchmarking

10.8    Teijin Limited

10.8.1    Company Overview

10.8.2    Financial Analysis

10.8.3    Strategic Initiatives

10.8.4    Resin Type Benchmarking

10.9   Toray Industries, Inc.

10.9.1    Company Overview

10.9.2    Financial Analysis

10.9.3    Strategic Initiatives

10.9.4    Resin Type Benchmarking

10.10   PI Corporation

10.10.1    Company Overview

10.10.2    Financial Analysis

10.10.3    Strategic Initiatives

10.10.4    Resin Type Benchmarking

10.11   Other Companies

10.11.1    Company Overview

10.11.2    Financial Analysis

10.11.3    Strategic Initiatives

10.11.4    Resin Type Benchmarking

List of Tables

1 Technological Advancements In Wind Turbine Composites Market

2 Global Wind Turbine Composites Market: Key Market Drivers

3 Global Wind Turbine Composites Market: Key Market Challenges

4 Global Wind Turbine Composites Market: Key Market Opportunities

5 Global Wind Turbine Composites Market: Key Market Restraints

6 Global Wind Turbine Composites Market Estimates & Forecast Analysis, 2020-2028 (USD Billion)

7 Global Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

8 Epoxy: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

9 Vinyl Ester Markets: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

10 Polyester: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

11 Polyurethane: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

12 Global Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

13 Glass: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

14 Carbon: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

15 Global Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

16 Blades: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

17 Nacelles: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

18 Others: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

19 Global Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

20 Vacuum Injection Molding: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

21 Prepreg: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

22 Hand Lay-up: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

23 Regional Analysis: Global Wind Turbine Composites Market, By Region, 2020-2028 (USD Billion)

24 North America: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

25 North America: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

26 North America: Wind Turbine Composites Market, By Application , 2020-2028 (USD Billion)

27 North America: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

28 North America: Wind Turbine Composites Market, By Country, 2020-2028 (USD Billion)

29 U.S: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

30 U.S: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

31 U.S: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

32 U.S: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

33 Canada: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

34 Canada: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

35 Canada: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

36 Canada: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

37 Mexico: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

38 Mexico: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

39 Mexico: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

40 Mexico: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

41 Europe: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

42 Europe: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

43 Europe: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

44 Europe: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

45 Germany: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

46 Germany: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

47 Germany: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

48 Germany: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

49 UK: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

50 UK: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

51 UK: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

52 UK: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

53 France: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

54 France: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

55 France: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

56 France: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

57 Italy: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

58 Italy: Wind Turbine Composites Market, By T Fiber Type Ype, 2020-2028 (USD Billion)

59 Italy: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

60 ltaly: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

61 Spain: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

62 Spain: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

63 Spain: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

64 Spain: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

65 Rest Of Europe: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

66 Rest Of Europe: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

67 Rest Of Europe: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

68 Rest of Europe: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

69 Asia Pacific: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

70 Asia Pacific: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

71 Asia Pacific: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

72 Asia Pacific: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

73 Asia Pacific: Wind Turbine Composites Market, By Country, 2020-2028 (USD Billion)

74 China: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

75 China: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

76 China: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

77 China: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

78 India: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

79 India: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

80 India: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

81 India: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

82 Japan: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

83 Japan: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

84 Japan: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

85 Japan: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

86 South Korea: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

87 South Korea: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

88 South Korea: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

89 South Korea: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

90 Middle East & Africa: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

91 Middle East & Africa: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

92 Middle East & Africa: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

93 Middle East & Africa: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

94 Middle East & Africa: Wind Turbine Composites Market, By Country, 2020-2028 (USD Billion)

95 Saudi Arabia: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

96 Saudi Arabia: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

97 Saudi Arabia: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

98 Saudi Arabia: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

99 UAE: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

100 UAE: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

101 UAE: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

102 UAE: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

103 Central & South America: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

104 Central & South America: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

105 Central & South America: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

106 Central & South America: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

107 Central & South America: Wind Turbine Composites Market, By Country, 2020-2028 (USD Billion)

108 Brazil: Wind Turbine Composites Market, By Resin Type, 2020-2028 (USD Billion)

109 Brazil: Wind Turbine Composites Market, By Fiber Type, 2020-2028 (USD Billion)

110 Brazil: Wind Turbine Composites Market, By Application, 2020-2028 (USD Billion)

111 Brazil: Wind Turbine Composites Market, By Manufacturing Process, 2020-2028 (USD Billion)

112 Exel Composites: Resin Types Offered

113 Gurit Holding AG: Resin Types Offered

114 Hexcel Corporation: Resin Types Offered

115 Reliance Industries Limited: Resin Types Offered

116 Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd: Resin Types Offered

117 Molded Fiber Glass Companies: Resin Types Offered

118 Siemens AG: Resin Types Offered

119 Teijin Limited: Resin Types Offered

120 Toray Industries, Inc.: Resin Types Offered

121 PI Corporation: Resin Types Offered

122 Other Companies: Resin Types Offered

List of Figures

1. Global Wind Turbine Composites Market Segmentation & Research Scope

2. Primary Research Partners and Local Informers

3. Primary Research Process

4. Primary Research Approaches

5. Primary Research Responses

6. Global Wind Turbine Composites Market: Penetration & Growth Prospect Mapping

7. Global Wind Turbine Composites Market: Value Chain Analysis

8. Global Wind Turbine Composites Market Drivers

9. Global Wind Turbine Composites Market Restraints

10. Global Wind Turbine Composites Market Opportunities

11. Global Wind Turbine Composites Market Challenges

12. Key Wind Turbine Composites Market Manufacturer Analysis

13. Global Wind Turbine Composites Market: Porter’s Five Forces Analysis

14. PESTLE Analysis & Impact Analysis

15. Exel Composites: Company Snapshot

16. Exel Composites: Swot Analysis

17. Gurit Holding AG: Company Snapshot

18. Gurit Holding AG: Swot Analysis

19. Hexcel Corporation: Company Snapshot

20. Hexcel Corporation: Swot Analysis

21. Reliance Industries Limited: Company Snapshot

22. Reliance Industries Limited: Swot Analysis

23. Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd: Company Snapshot

24. Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd: Swot Analysis

25. Molded Fiber Glass Companies: Company Snapshot

26. Molded Fiber Glass Companies: Swot Analysis

27. Siemens AG: Company Snapshot

28. Siemens AG: Swot Analysis

29. Teijin Limited: Company Snapshot

30. Teijin Limited: Swot Analysis

31. Toray Industries, Inc.: Company Snapshot

32. Toray Industries, Inc.: Swot Analysis

33. PI Corporation: Company Snapshot

34. PI Corporation: Swot Analysis

35. Other Companies: Company Snapshot

36. Other Companies: Swot Analysis

The Global Wind Turbine Composites Market has been studied from the year 2019 till 2028. However, the CAGR provided in the report is from the year 2023 to 2028. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.

The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply-side analysis for the Wind Turbine Composites Market.

The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.

Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company and customer analytics.

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Frequently Asked Questions

The global wind turbine composites market is projected to grow at a CAGR of 7.2% from 2023 to 2028.
The paramount competitors covered in the wind turbine composites market report are Exel Composites, Gurit Holding AG, Hexcel Corporation, Reliance Industries Limited, Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd, Molded Fiber Glass Companies, Siemens AG, Teijin Limited, Toray Industries, Inc., and PI Corporation among others.
The opportunities prevailing in the global wind turbine composites market are the increased demand for wind energy and a surge in the demand for lightweight materials with high efficiency and competitive pricing. The projected year is expected to see increased market growth prospects due to factors such as rising energy security, price stability, and government initiatives and environmental regulations promoting the usage of clean energy.
The primary factor fuelling the expansion of the global wind turbine composites market is the increase in the demand for wind energy and the surge in the demand for composite blade material. The market for wind turbine composites is anticipated to grow more swiftly as a result of the governments increased emphasis on renewable energy sources. The markets expansion has also been aided by increasing power consumption and strict environmental regulations by the government. Also, the potential for market expansion has been expanded by the anticipation of the key tech players.

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