
Wind Turbine Composite Material Market Report and Forecast 2025-2034
Description
The global wind turbine composite material market size reached approximately USD 12.28 Billion in 2024. The market is further projected to grow at a CAGR of 7.80% between 2025 and 2034, reaching a value of USD 26.02 Billion by 2034.
Key Trends in the Market
Wind turbine composites refer to composites that are used for reinforcing materials in various wind applications. The utilisation of these composites offers various advantages including low maintenance costs, long shelf life, and resistance against corrosion, among others. The different types of wind turbine composite fibres include glass fibre and carbon fibre.
"Global Wind Turbine Composite Material Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:
Breakup by Resin Type
Blades are anticipated to account for a significant wind turbine composite material market share. The rising demand for wind energy is bolstering the requirement for large wind blades for extended high power output. The utilisation of composites on wind turbine blades provides them with high strength to weight ratio, resistance to corrosion, long shelf life, improved fatigue resistance, and higher stiffness, among others.
Market Share by Region
The Asia Pacific is expected to witness significant growth over the forecast period. This growth can be attributed to the emergence of electronic devices in various countries across the Asia Pacific and the increasing energy requirements due to the rapid population growth. The strong presence of several key market players in the region including Toray Industries, Inc. and Teijin Ltd., among others is supporting the market expansion in the region and bolstering the wind turbine composite material market demand.
Competitive Landscape
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Toray Industries, Inc.
Toray Industries, Inc., headquartered in Tokyo, Japan, is one of the leading chemical manufacturing companies that is involved in the production of fibres and textiles, performance chemicals, and carbon fibre composite materials.
Hexcel Corporation
Hexcel Corporation, headquartered in Connecticut, United States, is involved in the manufacture of resin systems and carbon fibre reinforcements. The company also specialises in wind energy, composite technology, and commercial aerospace, among others.
Teijin Ltd.
Teijin Ltd., headquartered in Tokyo, Japan, is one of the leading pharmaceutical, information technology, and chemical company that was founded in 1918. The company is involved in the production of films, plastics, advanced fibres, and carbon fibres, among others.
Other wind turbine composite material market key players include Exel Composites Oyj, Huntsman International LLC, TPI Composites Inc., Gurit Services AG, China National Building Material Group Co., Ltd., Reliance Industries Limited, and Molded Fiber Glass Companies, among others.
Key Trends in the Market
Wind turbine composites refer to composites that are used for reinforcing materials in various wind applications. The utilisation of these composites offers various advantages including low maintenance costs, long shelf life, and resistance against corrosion, among others. The different types of wind turbine composite fibres include glass fibre and carbon fibre.
- The rising adoption of wind energy due to increasing environmental concerns is bolstering the wind turbine composite material market growth. The low operation costs and provision of clean energy is propelling the popularity of wind power.
- The increasing research and development activities by various key players of the market and research institutions to enhance the properties of wind turbine composites and reduce the costs of manufacturing is aiding the market expansion.
- The increasing awareness about the various advantages associated with the utilisation of wind turbine composites is providing lucrative growth opportunities to the market. The composites assist in increasing the stiffness and strength of the structural components of the wind turbine while also providing high strength to wind ratio and corrosion resistance, among others.
"Global Wind Turbine Composite Material Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:
Breakup by Resin Type
- Polyester
- Epoxy
- Vinyl Ester
- Others
- Carbon Fibre
- Glass Fibre
- Prepreg
- Vacuum Injection Moulding
- Hand Lay-up
- Nacelles
- Wind Blades
- Others
Blades are anticipated to account for a significant wind turbine composite material market share. The rising demand for wind energy is bolstering the requirement for large wind blades for extended high power output. The utilisation of composites on wind turbine blades provides them with high strength to weight ratio, resistance to corrosion, long shelf life, improved fatigue resistance, and higher stiffness, among others.
Market Share by Region
The Asia Pacific is expected to witness significant growth over the forecast period. This growth can be attributed to the emergence of electronic devices in various countries across the Asia Pacific and the increasing energy requirements due to the rapid population growth. The strong presence of several key market players in the region including Toray Industries, Inc. and Teijin Ltd., among others is supporting the market expansion in the region and bolstering the wind turbine composite material market demand.
Competitive Landscape
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
Toray Industries, Inc.
Toray Industries, Inc., headquartered in Tokyo, Japan, is one of the leading chemical manufacturing companies that is involved in the production of fibres and textiles, performance chemicals, and carbon fibre composite materials.
Hexcel Corporation
Hexcel Corporation, headquartered in Connecticut, United States, is involved in the manufacture of resin systems and carbon fibre reinforcements. The company also specialises in wind energy, composite technology, and commercial aerospace, among others.
Teijin Ltd.
Teijin Ltd., headquartered in Tokyo, Japan, is one of the leading pharmaceutical, information technology, and chemical company that was founded in 1918. The company is involved in the production of films, plastics, advanced fibres, and carbon fibres, among others.
Other wind turbine composite material market key players include Exel Composites Oyj, Huntsman International LLC, TPI Composites Inc., Gurit Services AG, China National Building Material Group Co., Ltd., Reliance Industries Limited, and Molded Fiber Glass Companies, among others.
Table of Contents
171 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Regions
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Wind Turbine Composite Material Market Analysis
- 5.1 Key Industry Highlights
- 5.2 Global Wind Turbine Composite Material Historical Market (2018-2024)
- 5.3 Global Wind Turbine Composite Material Market Forecast (2025-2034)
- 5.4 Global Wind Turbine Composite Material Market by Resin Type
- 5.4.1 Polyester
- 5.4.1.1 Historical Trend (2018-2024)
- 5.4.1.2 Forecast Trend (2025-2034)
- 5.4.2 Epoxy
- 5.4.2.1 Historical Trend (2018-2024)
- 5.4.2.2 Forecast Trend (2025-2034)
- 5.4.3 Vinyl Ester
- 5.4.3.1 Historical Trend (2018-2024)
- 5.4.3.2 Forecast Trend (2025-2034)
- 5.4.4 Others
- 5.5 Global Wind Turbine Composite Material Market by Fibre Type
- 5.5.1 Carbon Fibre
- 5.5.1.1 Historical Trend (2018-2024)
- 5.5.1.2 Forecast Trend (2025-2034)
- 5.5.2 Glass Fibre
- 5.5.2.1 Historical Trend (2018-2024)
- 5.5.2.2 Forecast Trend (2025-2034)
- 5.6 Global Wind Turbine Composite Material Market by Technology
- 5.6.1 Prepreg
- 5.6.1.1 Historical Trend (2018-2024)
- 5.6.1.2 Forecast Trend (2025-2034)
- 5.6.2 Vacuum Injection Moulding
- 5.6.2.1 Historical Trend (2018-2024)
- 5.6.2.2 Forecast Trend (2025-2034)
- 5.6.3 Hand Lay-up
- 5.6.3.1 Historical Trend (2018-2024)
- 5.6.3.2 Forecast Trend (2025-2034)
- 5.7 Global Wind Turbine Composite Material Market by Application
- 5.7.1 Nacelles
- 5.7.1.1 Historical Trend (2018-2024)
- 5.7.1.2 Forecast Trend (2025-2034)
- 5.7.2 Wind Blades
- 5.7.2.1 Historical Trend (2018-2024)
- 5.7.2.2 Forecast Trend (2025-2034)
- 5.7.3 Others
- 5.8 Global Wind Turbine Composite Material Market by Region
- 5.8.1 North America
- 5.8.1.1 Historical Trend (2018-2024)
- 5.8.1.2 Forecast Trend (2025-2034)
- 5.8.2 Europe
- 5.8.2.1 Historical Trend (2018-2024)
- 5.8.2.2 Forecast Trend (2025-2034)
- 5.8.3 Asia Pacific
- 5.8.3.1 Historical Trend (2018-2024)
- 5.8.3.2 Forecast Trend (2025-2034)
- 5.8.4 Latin America
- 5.8.4.1 Historical Trend (2018-2024)
- 5.8.4.2 Forecast Trend (2025-2034)
- 5.8.5 Middle East and Africa
- 5.8.5.1 Historical Trend (2018-2024)
- 5.8.5.2 Forecast Trend (2025-2034)
- 6 North America Wind Turbine Composite Material Market Analysis
- 6.1 United States of America
- 6.1.1 Historical Trend (2018-2024)
- 6.1.2 Forecast Trend (2025-2034)
- 6.2 Canada
- 6.2.1 Historical Trend (2018-2024)
- 6.2.2 Forecast Trend (2025-2034)
- 7 Europe Wind Turbine Composite Material Market Analysis
- 7.1 United Kingdom
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Germany
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 7.3 France
- 7.3.1 Historical Trend (2018-2024)
- 7.3.2 Forecast Trend (2025-2034)
- 7.4 Italy
- 7.4.1 Historical Trend (2018-2024)
- 7.4.2 Forecast Trend (2025-2034)
- 7.5 Others
- 8 Asia Pacific Wind Turbine Composite Material Market Analysis
- 8.1 China
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Japan
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 India
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 ASEAN
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Australia
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 8.6 Others
- 9 Latin America Wind Turbine Composite Material Market Analysis
- 9.1 Brazil
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Argentina
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Mexico
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Others
- 10 Middle East and Africa Wind Turbine Composite Material Market Analysis
- 10.1 Saudi Arabia
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 United Arab Emirates
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 10.3 Nigeria
- 10.3.1 Historical Trend (2018-2024)
- 10.3.2 Forecast Trend (2025-2034)
- 10.4 South Africa
- 10.4.1 Historical Trend (2018-2024)
- 10.4.2 Forecast Trend (2025-2034)
- 10.5 Others
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Competitive Landscape
- 12.1 Supplier Selection
- 12.2 Key Global Players
- 12.3 Key Regional Players
- 12.4 Key Player Strategies
- 12.5 Company Profiles
- 12.5.1 Toray Industries, Inc.
- 12.5.1.1 Company Overview
- 12.5.1.2 Product Portfolio
- 12.5.1.3 Demographic Reach and Achievements
- 12.5.1.4 Certifications
- 12.5.2 Hexcel Corporation
- 12.5.2.1 Company Overview
- 12.5.2.2 Product Portfolio
- 12.5.2.3 Demographic Reach and Achievements
- 12.5.2.4 Certifications
- 12.5.3 Teijin Ltd.
- 12.5.3.1 Company Overview
- 12.5.3.2 Product Portfolio
- 12.5.3.3 Demographic Reach and Achievements
- 12.5.3.4 Certifications
- 12.5.4 Exel Composites Oyj
- 12.5.4.1 Company Overview
- 12.5.4.2 Product Portfolio
- 12.5.4.3 Demographic Reach and Achievements
- 12.5.4.4 Certifications
- 12.5.5 Huntsman International LLC
- 12.5.5.1 Company Overview
- 12.5.5.2 Product Portfolio
- 12.5.5.3 Demographic Reach and Achievements
- 12.5.5.4 Certifications
- 12.5.6 TPI Composites Inc.
- 12.5.6.1 Company Overview
- 12.5.6.2 Product Portfolio
- 12.5.6.3 Demographic Reach and Achievements
- 12.5.6.4 Certifications
- 12.5.7 Gurit Services AG
- 12.5.7.1 Company Overview
- 12.5.7.2 Product Portfolio
- 12.5.7.3 Demographic Reach and Achievements
- 12.5.7.4 Certifications
- 12.5.8 China National Building Material Group Co., Ltd.
- 12.5.8.1 Company Overview
- 12.5.8.2 Product Portfolio
- 12.5.8.3 Demographic Reach and Achievements
- 12.5.8.4 Certifications
- 12.5.9 Reliance Industries Limited
- 12.5.9.1 Company Overview
- 12.5.9.2 Product Portfolio
- 12.5.9.3 Demographic Reach and Achievements
- 12.5.9.4 Certifications
- 12.5.10 Molded Fiber Glass Companies
- 12.5.10.1 Company Overview
- 12.5.10.2 Product Portfolio
- 12.5.10.3 Demographic Reach and Achievements
- 12.5.10.4 Certifications
- 12.5.11 Others
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.