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Wind Turbine Composites Market by Fiber Type (Glass, Carbon), Resin Type (Epoxy, Polyurethane), Manufacturing Process, Component (Blades, Nacelles), Application (Onshore, Offshore) and Region - Global Forecast to 2030
USD 28.85 BN
MARKET SIZE, 2030
CAGR 10.3%
(2025-2030)
250
REPORT PAGES
200
MARKET TABLES
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The wind turbine composites market is projected to reach USD 28.85 billion by 2030 from USD 17.67 billion in 2025, at a CAGR of 10.3%. The market is growing because countries worldwide are transitioning to renewable energy sources while they build both onshore and offshore wind farms to achieve their carbon neutrality objectives. The composite materials, particularly glass and carbon fibers, serve as fundamental components for producing turbine blades and nacelles that are larger, lighter, and more durable, resulting in higher energy production and lower electricity levelized cost. Advanced composites, which can endure difficult marine conditions, are becoming more desirable while the wind energy industry works on developing recyclable resin systems that enable circular economy practices.
KEY TAKEAWAYS
-
By Region
Asia Pacific dominated the wind turbine composites market with a share of 78.2% in terms of value in 2024.
-
By Fiber Type
By fiber type, the carbon fiber segment is projected to grow at the highest CAGR of 11.4% during the forecast period.
-
By Resin Type
By resin type, the epoxy resin segment dominated the wind turbine composites market with a share of 70.7% in terms of value in 2024.
-
By Manufacturing Process
By manufacturing process, the VARTM segment accounted for the largest share in the wind turbine composites market.
-
By Component
By component, the blades segment is projected to register the highest CAGR of 10.6% in the wind turbine composites market.
-
By Application
By application, the onshore segment held the largest share of the wind turbine composites market.
-
Competitive Landscape - Key Players
Toray Industries, Inc., ExxonMobil Corporation, Evonik, China Jushi Co., Ltd., and China National Building Material Group Corporation are star players in the wind turbine composites market, given their broad industry coverage and strong operational & financial strength.
-
Competitive Landscape - Startups
HS Hysoung Advanced Material, Jiuding New Material Co., Ltd., and Reliance Industries Ltd. have distinguished themselves among startups and SMEs due to their well-developed marketing channels and extensive funding to build their product portfolios.
The global transition to renewable energy sources and the worldwide commitment to achieving carbon neutrality are the main factors that drive the growth of the wind turbine composites market. Modern wind turbines use advanced composite materials, which include glass fiber and high-performance carbon fiber to construct rotor blades, nacelles, and towers, which need exceptional strength-to-weight ratios and protection against corrosion. The demand for lightweight materials stems from the need to construct offshore wind farms, which will use new 15 MW turbines equipped with blades that exceed 100 meters in length to achieve optimal energy collection while maintaining their structural integrity. The market experiences substantial expansion in both Asia Pacific and North America as government subsidies and resin systems and automated manufacturing process innovations create technological advancements which help recyclability and decrease electricity production costs.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
Changes in customer trends or disruptions impact consumers’ businesses. These shifts impact the revenues of end users. Consequently, the revenue impact on end users is expected to affect the revenues of wind turbine composite suppliers, which, in turn, impacts the revenues of wind turbine composite manufacturers. Key imperatives like enhanced resistance, larger rotor diameters, reduced weight, and modular blade construction drive better outcomes in offshore wind, increasing uptime and energy yield while lowering costs. These advancements also strengthen ESG branding by emphasizing sustainability.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
Drivers
Impact
Level
-
Increasing installations of new wind turbines
-
Technological advancements in blade design
RESTRAINTS
Impact
Level
-
Higher raw material costs
-
Limited blade recycling technology
OPPORTUNITIES
Impact
Level
-
Development of recyclable resin
-
Expansion of offshore wind projects
CHALLENGES
Impact
Level
-
Geopolitical instability
-
High capital investments
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The wind turbine composites market experienced substantial growth in 2024. The growth is propelled by the global wind industry's record performance as detailed in GWEC's Global Wind Report 2025, which reported 117 GW of new installations across 55 countries in the world, including approximately 109 GW of onshore and 8 GW of offshore capacity, thus reaching a total capacity of 1,136 GW. Onshore wind dominated growth for the second consecutive year above the 100 GW threshold because Asia Pacific countries led by China, which achieved an 82 GW onshore increase, accounted for 70% of the global total, and India, which maintained steady growth, both of which supported continuous rising need for advanced composite materials, including fiberglass and carbon fiber essential to modern turbine blades.
The wind turbine composites market growth faces major hindrance because of high raw material costs, which create a significant obstacle. The advanced materials, carbon fiber reinforced polymers (CFRP) and glass fiber reinforced polymers (GFRP), cost significantly more than traditional materials, which include steel and aluminum. The total production costs for turbine blades and other components experience an increase because of this factor. The cost premium, which reaches two to five times higher for carbon fiber than glass fiber, results from three factors: global supply chain limitations, geopolitical disruptions that cause price fluctuations and export restrictions from key producers in China, Japan, and Germany, and the energy-intensive processes needed to create high-quality fibers and resins.
The advancement in wind blade recycling marks a significant milestone, particularly with the development of recyclable resins, such as Arkema's Elium liquid thermoplastic resin. This development enables wind energy systems to achieve better sustainable practices through its recyclable resin technology. Elium resin facilitates the production of large wind turbine blades through an industrially validated infusion process. The recyclable resin performs at the same level as traditional thermoset resins while providing better damage resistance and recyclability benefits. The use of recyclable resins creates strong effects because they support multiple recycling techniques. The process of mechanical recycling enables the conversion of end-of-life materials into new composite panels through crushing and reheating processes, while chemical recycling provides a method to extract virgin resin from materials. The dual capability enhances materials lifecycle management while enabling wind energy systems to achieve substantial waste reduction.
The wind turbine composite industry faces its biggest challenge from high capital expenditures because manufacturing facilities need large financial investments to produce long, high-output composite blades. The creation of wind turbine blades requires advanced technologies, which include automated fiber placement and resin transfer molding together with precision curing ovens that need expensive machinery and infrastructure. The turbine blade production process requires manufacturers to spend more resources on developing larger molds and better handling equipment, together with advanced quality control systems, because blades are becoming bigger and more intricate to achieve better efficiency. The capital expenditures for these projects typically exceed tens of millions to hundreds of millions of dollars, which creates major obstacles for new businesses while restricting growth opportunities for smaller enterprises.
WIND TURBINE COMPOSITES MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
|---|---|---|
|
|
Uses glass fiber, carbon fiber, and core materials in large offshore and onshore turbine blades | Increased blade length | Higher energy capture efficiency | Reduced weight | Improved fatigue resistance |
|
|
Integrates advanced composite sandwich structures in rotor blades and nacelle covers | Enhanced durability | Optimized aerodynamics | Improved lifecycle performance |
|
|
Deploys composite-intensive designs in large-scale wind turbine blades and structures | Lightweight blades | Higher power output | Reduced maintenance requirements |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The ecosystem of the wind turbine composites market consists of a network of raw material suppliers, composite manufacturers, turbine component producers, OEMs, and wind farm developers working together to support the growth of wind energy infrastructure. Material suppliers such as Owens Corning and Toray Industries provide fibers and resins that are processed by composite specialists and blade manufacturers like TPI Composites and LM Wind Power. These components are integrated into turbines by OEMs, including Vestas and Siemens Gamesa, and deployed in wind farms developed by renewable energy companies. The ecosystem is also supported by research institutions, recycling technology providers, and government policies promoting renewable energy adoption and sustainable composite materials.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Glass fiber dominated the wind turbine composites market because it provides better value through its cost-effective pricing and strong mechanical properties. While carbon fiber provides better stiffness, glass fiber remains the preferred material for high-volume production because it costs less, and its processing through vacuum infusion methods is easier and possesses an established worldwide supply network for this material. The material's high tensile strength, combined with its outstanding ability to resist corrosion, makes it the perfect choice for building large, durable blades for the majority of onshore wind projects.
The wind turbine composites market uses epoxy resin as its primary material because it delivers better mechanical properties, longer-lasting performance, and resistance to fatigue when compared to polyester and other materials. The exceptional adhesive strength of the material, combined with its minimal shrinkage during the curing process, enables manufacturers to produce the large, highly accurate blades needed for modern, high-capacity turbines. The blades benefit from longer operational life because epoxy material protects against extreme weather conditions, and it withstands repeated force applications throughout its lifetime.
Vacuum-assisted Resin Transfer Molding (VARTM) is expected to register the highest growth rate because this method provides an affordable solution to produce the complex and larger blades required for modern offshore and onshore turbines. VARTM uses inexpensive one-sided open molds together with vacuum pressure to achieve superior resin distribution, which leads to decreased material waste and reduced labor expenses while increasing the strength-to-weight ratio of the produced components. The closed-mold design of the system helps to reduce volatile organic compound (VOC) emissions, which makes it the preferred option for manufacturers who need to comply with tighter environmental regulations and achieve sustainability objectives.
Blades accounted for the largest share in the wind turbine composites market, because wind blades require more materials than any other turbine component. Manufacturers who develop larger onshore and offshore systems for enhanced energy capture require extensive amounts of advanced glass and carbon fiber composite materials to produce their longer and lighter blades. Blades differ from nacelles and hubs because they experience extreme mechanical stress and fatigue and aerodynamic loads, which makes it essential to use composite materials that provide the best weight-to-strength ratio for structural design.
The offshore application is expected to register the highest growth rate in the wind turbine composites market because offshore environments provide stronger wind conditions, which enable the installation of larger turbines that typically exceed 10 to 14 megawatts. The massive structures need advanced composite materials that combine lightweight carbon fiber and glass fiber properties to withstand severe structural loads while protecting against intense marine corrosion which does not apply to smaller onshore structures. The combination of strict government decarbonization objectives and the transition to deep-water floating wind farms has created a fast growth period for new offshore installations, which outpaces the established onshore market.
REGION
Asia Pacific to be fastest-growing market for wind turbine composites during forecast period
Asia Pacific serves as the fastest-growing market for wind turbine composites because countries like China and India are actively pursuing their decarbonization goals and investing heavily in renewable energy projects. The market growth is due to rapid urbanization and industrialization, which have created a need for eco-friendly power solutions and high-capacity energy systems. The wind energy sector experiences core development through two major trends, which include the adoption of larger onshore wind turbines and the development of extensive offshore wind power facilities. Government policies that provide subsidies, tax incentives, and enforce strict environmental regulations create a favorable environment that drives both composite manufacturing and recyclable resin system development to establish the region as a worldwide center of wind energy research & development.
WIND TURBINE COMPOSITES MARKET: COMPANY EVALUATION MATRIX
In the wind turbine composites market, China National Building Material Group Corporation (Star) leads with a dominant market share and an extensive global footprint, driven by its vertically integrated manufacturing and strategic focus on advanced composites in wind energy applications. On the other hand, Hexcel Corporation (Emerging Leader) is rapidly gaining visibility, leveraging its expertise in high-performance carbon fiber and advanced resin systems for longer, lighter turbine blades.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- China Jushi Co., Ltd. (China)
- DowAksa (Turkey)
- Teijin Limited (Japan)
- SGL Carbon (Germany)
- Hexcel Corporation (US)
- Gurit Services AG (Switzerland)
- China National Building Material Group Corporation (China)
- Toray Industries, Inc. (Japan)
- Rochling SE & Co. KG (Germany)
- Exel Composites (Finland)
- Evonik (Germany)
- Arkema (France)
- Owens Corning (US)
- ExxonMobil Corporation (US)
- Huntsman International LLC (US)
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size, 2024 (Value) | USD 16.02 Billion |
| Market Size, 2030 (Value) | USD 28.85 Billion |
| Growth Rate | CAGR of 10.3% from 2025 to 2030 |
| Years Considered | 2021–2030 |
| Base Year | 2024 |
| Forecast Period | 2025–2030 |
| Units Considered | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
|
| Regions Covered | North America, Asia Pacific, Europe, South America, Middle East & Africa |
WHAT IS IN IT FOR YOU: WIND TURBINE COMPOSITES MARKET REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
|---|---|---|
| Raw Material Suppliers (Glass Fiber, Carbon Fiber, Resins, Core Materials – PVC, PET, Balsa) |
|
|
| Composite Component Manufacturers (Blade, Nacelle & Spar Producers) |
|
|
| Wind Turbine OEMs (Blade Designers, Integrators) |
|
|
| End-use Segment (Onshore & Offshore Wind Projects / Developers) |
|
|
RECENT DEVELOPMENTS
- January 2026 : Gurit Services AG secured a five-year supply agreement with a leading wind turbine OEM for core material kits, expected to generate CHF 250 million (USD 290 million) in net sales. This deal reinforces Gurit's global leadership in engineered core solutions, supporting blade weight reduction, manufacturing efficiencies, and volume commitments for both offshore and onshore wind platforms across multiple regions.
- July 2024 : China Jushi Co., Ltd.'s Huai'an Carbon-neutral Intelligent Manufacturing Base launched its second glass fiber production to leverage wind power from an on-site project using Jushi's own fiberglass blades to achieve over 400,000 tons in annual carbon reductions, advancing the firm's zero-carbon manufacturing goals.
- July 2024 : DowAksa, a joint venture between Aksa Akrilik Kimya Sanayii A.S. and Dow Inc., entered into a significant four-year agreement valued at USD 300 million with Vestas Wind Systems, a leading global wind turbine manufacturer.
Table of Contents
Exclusive indicates content/data unique to MarketsandMarkets and not available with any competitors.
TITLE
PAGE NO
1
INTRODUCTION
15
2
EXECUTIVE SUMMARY
3
PREMIUM INSIGHTS
4
MARKET OVERVIEW
4.1
INTRODUCTION
4.2
MARKET DYNAMICS
4.2.1
DRIVERS
4.2.2
RESTRAINTS
4.2.3
OPPORTUNITIES
4.2.4
CHALLENGES
4.3
UNMET NEEDS AND WHITE SPACES
4.4
INTERCONNECTED MARKETS AND CROSS-SECTOR OPPORTUNITIES
4.5
STRATEGIC MOVES BY TIER-1/2/3 PLAYERS
5
INDUSTRY TRENDS
5.1
PORTER'S FIVE FORCES ANALYSIS
5.2
MACROECONOMIC OUTLOOK
5.2.1
INTRODUCTION
5.2.2
GDP TRENDS AND FORECAST
5.2.3
TRENDS IN GLOBAL WIND TURBINE INDUSTRY
5.3
VALUE CHAIN ANALYSIS
5.4
ECOSYSTEM ANALYSIS
5.5
PRICING ANALYSIS
5.5.1
AVERAGE SELLING PRICE TREND AMONG APPLICATIONS, BY KEY PLAYER,
5.5.2
AVERAGE SELLING PRICE TREND, BY REGION, 2022-2025
5.6
TRADE ANALYSIS
5.6.1
IMPORT SCENARIO (HS CODE 7019)
5.6.2
EXPORT SCENARIO (HS CODE 7019)
5.7
KEY CONFERENCE & EVENTS IN 2026–2027
5.8
TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS
5.9
INVESTMENT AND FUNDING SCENARIO
5.10
CASE STUDY ANALYSIS
5.11
IMPACT OF 2025 US TARIFF - WIND TURBINE COMPOSITES MARKET
5.11.1
INTRODUCTION
5.11.2
KEY TARIFF RATES
5.11.3
PRICE IMPACT ANALYSIS
5.11.4
IMPACT ON COUNTRY/REGION*
5.11.4.1
US
5.11.4.2
EUROPE
5.11.4.3
ASIA PACIFIC
5.11.5
IMPACTS ON END-USE INDUSTRY
6
TECHNOLOGICAL ADVANCEMENTS, AI-DRIVEN IMPACT, PATENTS, INNOVATIONS, AND FUTURE END-USE INDUSTRIES
6.1
KEY EMERGING TECHNOLOGIES
6.1.1
VACUUM INFUSION MOLDING
6.1.2
PREPREG MOLDING
6.1.3
HAND LAY-UP
6.2
COMPLEMENTARY TECHNOLOGIES
6.2.1
ADDITIVE MANUFACTURING AND ROBOTICS
6.3
TECHNOLOGY/PRODUCT ROADMAP
6.4
PATENT ANALYSIS
6.5
FUTURE END-USE INDUSTRIES
6.6
IMPACT OF AI/GEN AI ON WIND TURBINE COMPOSITES MARKET
7
REGULATORY LANDSCAPE AND SUSTAINABILITY INITIATIVE
7.1
REGIONAL REGULATIONS AND COMPLIANCE
7.1.1
REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
7.1.2
INDUSTRY STANDARDS
7.2
SUSTAINABILITY INITIATIVES
7.3
IMPACT OF REGULATORY POLICY ON SUSTAINABILITY INITIATIVES
8
CUSTOMER LANDSCAPE & BUYER BEHAVIOR
8.1
INTRODUCTION
8.2
DECISION-MAKING PROCESS
8.3
KEY STAKEHOLDERS INVOLVED IN BUYING PROCESS AND THEIR EVALUATION CRITERIA
8.3.1
KEY STAKEHOLDERS IN BUYING PROCESS
8.3.2
BUYING CRITERIA
8.4
ADOPTION BARRIERS & INTERNAL CHALLENGES
8.5
UNMET NEEDS FROM VARIOUS END-USE INDUSTRIES
8.6
MARKET PROFITABILITY
9
WIND TURBINE COMPOSITES MARKET, BY FIBER TYPE
9.1
INTRODUCTION
9.2
GLASS FIBER
9.3
CARBON FIBER
9.4
OTHER FIBER TYPES
10
WIND TURBINE COMPOSITES MARKET, BY RESIN TYPE
10.1
INTRODUCTION
10.2
EPOXY
10.3
POLYURETHANE
10.4
OTHER RESIN TYPES
11
WIND TURBINE COMPOSITES MARKET, BY MANUFACTURING PROCESS
11.1
INTRODUCTION
11.2
VARTM/VI
11.3
FILAMENT WINDING
11.4
OTHER MANUFACTURING PROCESSES
12
WIND TURBINE COMPOSITES MARKET, BY COMPONENT
12.1
INTRODUCTION
12.2
BLADES
12.3
NACELLES
12.4
OTHER COMPONENTS
13
WIND TURBINE COMPOSITES MARKET, BY APPLICATION
13.1
INTRODUCTION
13.2
ONSHORE
13.3
OFFSHORE
14
WIND TURBINE COMPOSITES MARKET, BY REGION
14.1
INTRODUCTION
14.2
NORTH AMERICA
14.2.1
WIND TURBINE COMPOSITES MARKET SIZE IN NORTH AMERICA, BY FIBER TYPE
14.2.2
WIND TURBINE COMPOSITES MARKET SIZE IN NORTH AMERICA, BY RESIN TYPE
14.2.3
WIND TURBINE COMPOSITES MARKET SIZE IN NORTH AMERICA, BY MANUFACTURING PROCESS
14.2.4
WIND TURBINE COMPOSITES MARKET SIZE IN NORTH AMERICA, BY COMPONENT
14.2.5
WIND TURBINE COMPOSITES MARKET SIZE IN NORTH AMERICA, BY APPLICATION
14.2.6
WIND TURBINE COMPOSITES MARKET SIZE IN NORTH AMERICA, BY COUNTRY
14.2.6.1
US
14.2.6.2
CANADA
14.2.6.3
MEXICO
14.3
EUROPE
14.3.1
WIND TURBINE COMPOSITES MARKET SIZE IN EUROPE, BY FIBER TYPE
14.3.2
WIND TURBINE COMPOSITES MARKET SIZE IN EUROPE, BY RESIN TYPE
14.3.3
WIND TURBINE COMPOSITES MARKET SIZE IN EUROPE, BY MANUFACTURING PROCESS
14.3.4
WIND TURBINE COMPOSITES MARKET SIZE IN EUROPE, BY COMPONENT
14.3.5
WIND TURBINE COMPOSITES MARKET SIZE IN EUROPE, BY APPLICATION
14.3.6
WIND TURBINE COMPOSITES MARKET SIZE IN EUROPE, BY COUNTRY
14.3.6.1
GERMANY
14.3.6.2
FRANCE
14.3.6.3
SWEDEN
14.3.6.4
SPAIN
14.3.6.5
FINLAND
14.3.6.6
NETHERLANDS
14.3.6.7
UK
14.3.6.8
REST OF EUROPE
14.4
ASIA PACIFIC
14.4.1
WIND TURBINE COMPOSITES MARKET SIZE IN ASIA PACIFIC, BY FIBER TYPE
14.4.2
WIND TURBINE COMPOSITES MARKET SIZE IN ASIA PACIFIC, BY RESIN TYPE
14.4.3
WIND TURBINE COMPOSITES MARKET SIZE IN ASIA PACIFIC, BY MANUFACTURING PROCESS
14.4.4
WIND TURBINE COMPOSITES MARKET SIZE IN ASIA PACIFIC, BY COMPONENT
14.4.5
WIND TURBINE COMPOSITES MARKET SIZE IN ASIA PACIFIC, BY APPLICATION
14.4.6
WIND TURBINE COMPOSITES MARKET SIZE IN ASIA PACIFIC, BY COUNTRY
14.4.6.1
CHINA
14.4.6.2
JAPAN
14.4.6.3
SOUTH KOREA
14.4.6.4
INDIA
14.4.6.5
AUSTRALIA
14.4.6.6
REST OF ASIA PACIFIC
14.5
SOUTH AMERICA
14.5.1
WIND TURBINE COMPOSITES MARKET SIZE IN SOUTH AMERICA, BY FIBER TYPE
14.5.2
WIND TURBINE COMPOSITES MARKET SIZE IN SOUTH AMERICA, BY RESIN TYPE
14.5.3
WIND TURBINE COMPOSITES MARKET SIZE IN SOUTH AMERICA, BY MANUFACTURING PROCESS
14.5.4
WIND TURBINE COMPOSITES MARKET SIZE IN SOUTH AMERICA, BY COMPONENT
14.5.5
WIND TURBINE COMPOSITES MARKET SIZE IN SOUTH AMERICA, BY APPLICATION
14.5.6
WIND TURBINE COMPOSITES MARKET SIZE IN SOUTH AMERICA, BY COUNTRY
14.5.6.1
BRAZIL
14.5.6.2
ARGENTINA
14.5.6.3
REST OF SOUTH AMERICA
14.6
MIDDLE EAST & AFRICA
14.6.1
WIND TURBINE COMPOSITES MARKET SIZE IN MIDDLE EAST & AFRICA, BY FIBER TYPE
14.6.2
WIND TURBINE COMPOSITES MARKET SIZE IN MIDDLE EAST & AFRICA, BY RESIN TYPE
14.6.3
WIND TURBINE COMPOSITES MARKET SIZE IN MIDDLE EAST & AFRICA, BY MANUFACTURING PROCESS
14.6.4
WIND TURBINE COMPOSITES MARKET SIZE IN MIDDLE EAST & AFRICA, BY COMPONENT
14.6.5
WIND TURBINE COMPOSITES MARKET SIZE IN MIDDLE EAST & AFRICA, BY APPLICATION
14.6.6
WIND TURBINE COMPOSITES MARKET SIZE IN MIDDLE EAST & AFRICA, BY COUNTRY
14.6.6.1
EGYPT
14.6.6.2
MOROCCO
14.6.6.3
REST OF MIDDLE EAST & AFRICA
15
COMPETITIVE LANDSCAPE
15.1
OVERVIEW
15.2
KEY PLAYER COMPETITIVE STRATEGIES/RIGHT TO WIN
15.3
MARKET SHARE ANALYSIS,
15.4
REVENUE ANALYSIS, 2021-2025
15.5
BRAND COMPARISON
15.6
COMPANY EVALUATION MATRIX: KEY PLAYERS,
15.6.1
STARS
15.6.2
EMERGING LEADERS
15.6.3
PERVASIVE PLAYERS
15.6.4
PARTICIPANTS
15.6.5
COMPANY FOOTPRINT: KEY PLAYERS,
15.6.5.1
COMPANY FOOTPRINT
15.6.5.2
REGION FOOTPRINT
15.6.5.3
FIBER TYPE FOOTPRINT
15.6.5.4
RESIN TYPE FOOTPRINT
15.6.5.5
MANUFACTURING PROCESS FOOTPRINT
15.6.5.6
COMPONENTS FOOTPRINT
15.6.5.7
APPLICATION FOOTPRINT
15.7
COMPANY EVALUATION MATRIX: STARTUPS/SMES,
15.7.1
PROGRESSIVE COMPANIES
15.7.2
RESPONSIVE COMPANIES
15.7.3
DYNAMIC COMPANIES
15.7.4
STARTING BLOCKS
15.7.5
COMPETITIVE BENCHMARKING: STARTUPS/SMES,
15.7.5.1
DETAILED LIST OF KEY STARTUPS/SMES
15.7.5.2
COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES
15.8
COMPANY VALUATION AND FINANCIAL METRICS
15.9
COMPETITIVE SCENARIO
15.9.1
PRODUCT LAUNCHES
15.9.2
ACQUISITIONS
15.9.3
MERGERS & ACQUISITIONS
15.9.4
PARTNERSHIPS, COLLABORATIONS, ALLIANCES, AND JOINT VENTURES
16
COMPANY PROFILES
16.1
DOWAKSA
16.2
TEIJIN LIMITED
16.3
SGL CARBON
16.4
HEXCEL CORPORATION
16.5
GURIT SERVICES AG
16.6
CHINA NATIONAL BUILDING MATERIAL GROUP CORPORATION
16.7
TORAY INDUSTRIES, INC.
16.8
CHINA JUSHI CO., LTD.
16.9
ROCHLING SE & CO. KG
16.10
EXEL COMPOSITES
16.11
EVONIK
16.12
ARKEMA
16.13
OWENS CORNING
16.14
EXXON MOBIL CORPORATION
16.15
HUNTSMAN INTERNATIONAL LLC
16.16
OTHER PLAYERS
16.16.1
EPSILON COMPOSITE
16.16.2
AERON COMPOSITE
16.16.3
WESTLAKE CORPORATION
16.16.4
PULTREX LTD
16.16.5
ELAN COMPOSITES
16.16.6
NORTHERN LIGHT COMPOSITE
15.16.7
JIUDING NEW MATERIAL CO., LTD.
16.16.8
HS HYOSUNG ADVANCED MATERIAL
16.16.9
INDORE COMPOSITES
16.16.10
RELIANCE INDUSTRIES LTD.
17
RESEARCH METHODOLOGY
17.1
RESEARCH DATA
17.1.1
SECONDARY DATA
17.1.1.1
KEY DATA FROM SECONDARY SOURCES
17.1.1.2
LIST OF KEY SECONDARY SOURCES
17.1.2
PRIMARY DATA
17.1.2.1
KEY DATA FROM PRIMARY SOURCES
17.1.2.2
KEY PRIMARY PARTICIPANTS
17.1.2.3
BREAKDOWN OF PRIMARY INTERVIEWS
17.1.2.4
KEY INDUSTRY INSIGHTS
17.2
MARKET SIZE ESTIMATION
17.2.1
BOTTOM-UP APPROACH
17.2.2
TOP-DOWN APPROACH
17.2.3
BASE NUMBER CALCULATION
17.3
MARKET FORECAST APPROACH
17.3.1
SUPPLY SIDE
17.3.2
DEMAND SIDE
17.4
DATA TRIANGULATION
17.5
FACTOR ANALYSIS
17.6
RESEARCH ASSUMPTIONS
17.7
RESEARCH LIMITATIONS AND RISK ASSESSMENT
18
APPENDIX
18.1
DISCUSSION GUIDE
18.2
KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
18.3
CUSTOMIZATION OPTIONS
18.4
RELATED REPORTS
18.5
AUTHOR DETAILS
Methodology
The study involves two major activities in estimating the current market size for the wind turbine composites market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, data triangulation was used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering wind turbine composites and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the wind turbine composites market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the wind turbine composites market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from wind turbine composites industry vendors; system integrators; component providers; distributors; and key opinion leaders.
Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to fiber type, resin type, manufacturing process, component, application, and region.
Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customers/end users who are using wind turbine composites, were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of wind turbine composites and future outlook of their business, which will affect the overall market.
The following is the breakdown of primary respondents:
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
The research methodology used to estimate the size of the wind turbine composites market includes the following details. The market sizing was undertaken from the demand side. The market was upsized based on procurements and modernizations in wind turbine composites in different applications at a regional level. Such procurements provide information on the demand aspects of the wind turbine composites industry for each application. For each application, all possible segments of the wind turbine composites market were integrated and mapped.
Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Wind turbine composites are advanced engineered materials made by reinforcing polymers with fibers such as glass or carbon, used in the construction of wind turbine components. These composites provide a high strength-to-weight ratio, durability, and resistance to environmental stresses like corrosion and fatigue. They are most commonly used in blades, nacelles, and other structural parts to enhance efficiency and longevity. Their lightweight nature allows for longer blades, which improves energy capture and overall turbine performance.
Key Stakeholders
- Wind turbine composite manufacturers
- Raw material manufacturers
- Government and research organizations
- R&D institutions
- National and local government organizations
- Institutional investors
- Wind turbine composite suppliers
- End users
Report Objectives
- To define, describe, and forecast the wind turbine composites market size in terms of volume and value
- To provide detailed information regarding the key factors, such as drivers, restraints, opportunities, and challenges influencing market growth
- To analyze and project the global wind turbine composites market by fiber type, resin type, manufacturing process, component, application, and region
- To forecast the market size concerning five main regions (along with country-level data), namely, North America, Europe, Asia Pacific, the Middle East & Africa, and South America, and analyze the significant region-specific trends
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions of the submarkets to the overall market
- To analyze the market opportunities and the competitive landscape for stakeholders and market leaders
- To assess recent market developments and competitive strategies, such as agreements, contracts, acquisitions, and product developments/product launches, to draw the competitive landscape
- To strategically profile the key market players and comprehensively analyze their core competencies
Available customizations:
MarketsandMarkets offers the following customizations for this market report:
- Additional country-level analysis of the wind turbine composites market
Product Analysis
- Product matrix, which provides a detailed comparison of the product portfolio of each company’s market.
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