Product Code: GVR-4-68040-592-0
Wind Turbine Composites Market Growth & Trends:
The global wind turbine composites market size is anticipated to reach USD 23.29 billion by 2030, registering a CAGR of 8.6% from 2025 to 2030, according to a new report by Grand View Research, Inc. The demand for wind turbine composites is rising steadily due to the rapid expansion of wind energy as a clean and sustainable power source. Governments across the world are setting ambitious renewable energy targets to combat climate change, which has led to increased installation of wind farms, both onshore and offshore. Since composite materials are critical to manufacturing wind turbine blades, nacelles, and other structural components, their demand is directly linked to the growth in wind power capacity. As turbine sizes increase, particularly for offshore applications, the need for stronger, lighter, and more durable materials has intensified.
Several factors are propelling the market forward. Composites such as glass fiber and carbon fiber offer high strength-to-weight ratios, corrosion resistance, and fatigue durability, making them ideal for manufacturing turbine blades that can withstand harsh environmental conditions. Second, the push for cost-effective energy production and improved efficiency has encouraged turbine manufacturers to use advanced composites to reduce maintenance and improve turbine longevity. Supportive government policies, incentives for renewable energy, and investments in sustainable infrastructure are also playing a crucial role in driving demand.
The market is witnessing continuous innovation, especially in the development of recyclable and high-performance composites. Projects like LM Wind Power's ZEBRA initiative have introduced fully recyclable wind turbine blades using thermoplastic resins such as Elium, which can be reused, significantly improving sustainability. Additionally, innovations in blade design, such as segmented and modular blades, help reduce transportation and assembly costs. The increasing use of carbon fiber in offshore wind turbines, due to its lighter weight and greater stiffness, is another major advancement contributing to improved energy output and design flexibility.
Alongside material innovations, manufacturing processes are also evolving. Automation, precision molding techniques, and the use of digital twins in blade production are enhancing quality control and production speed. Recycling technologies have gained prominence, with companies exploring chemical and mechanical recycling of blades to reduce environmental impact. Closed-loop systems, where recovered fibers and resins are reused in new blades, are gaining traction, paving the way for a circular economy in the wind industry. These advancements not only support the green transition but also help manufacturers reduce lifecycle costs and comply with emerging regulations.
Wind Turbine Composites Market Report Highlights:
- Based on fibre type, the glass fiber segment led the market and accounted for the largest revenue share of 72.0% in 2024, driven by its cost-effectiveness, high strength-to-weight ratio, and corrosion resistance.
- Based on application, the blades segment dominated the market and accounted for the largest revenue share of 79.1% in 2024, due to their high composite material consumption and critical role in turbine efficiency.
- Asia Pacific dominated the market and accounted for the largest revenue share of about 34.9% in 2024, driven by rapid industrialization, increasing renewable energy investments, and government support in countries like China and India.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope & Assumption
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2024 (USD Billion)
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Wind Turbine Composites Market Variables, Trends & Scope
- 3.1. Market Lineage/Ancillary Market Outlook
- 3.2. Industry Value Chain Analysis
- 3.2.1. Sales Channel Analysis
- 3.3. Regulatory Framework
- 3.3.1. Analyst Perspective
- 3.3.2. Regulations & Standards
- 3.4. Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Industry Opportunities
- 3.4.4. Industry Challenges
- 3.5. Business Environmental Tools Analysis: Wind Turbine Composites Market
- 3.5.1. Porter's Five Forces Analysis
- 3.5.1.1. Bargaining Power of Suppliers
- 3.5.1.2. Bargaining Power of Buyers
- 3.5.1.3. Threat of Substitution
- 3.5.1.4. Threat of New Entrants
- 3.5.1.5. Competitive Rivalry
- 3.5.2. PESTLE Analysis
- 3.5.2.1. Political Landscape
- 3.5.2.2. Economic Landscape
- 3.5.2.3. Social Landscape
- 3.5.2.4. Technology Landscape
- 3.5.2.5. Environmental Landscape
- 3.5.2.6. Legal Landscape
- 3.6. Market Disruption Analysis
Chapter 4. Wind Turbine Composites Market: Fiber Type Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Fiber Type Movement Analysis & Market Share, 2024 & 2030
- 4.3. Global Wind Turbine Composites Market By Fiber Type, 2018 - 2030 (USD Million)
- 4.4. Glass fiber
- 4.4.1. Wind Turbine Composites Market Estimates And Forecasts, by Glass fiber, 2018 - 2030 (USD Million)
- 4.5. Carbon fiber
- 4.5.1. Wind Turbine Composites Market Estimates And Forecasts, by Carbon fiber, 2018 - 2030 (USD Million)
- 4.6. Others
- 4.6.1. Wind Turbine Composites Market Estimates And Forecasts, by Others, 2018 - 2030 (USD Million)
Chapter 5. Wind Turbine Composites Market: Application Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Application Movement Analysis & Market Share, 2024 & 2030
- 5.3. Global Wind Turbine Composites Market By Application, 2018 - 2030 (USD Million)
- 5.4. Blades
- 5.4.1. Wind Turbine Composites Market Estimates And Forecasts, for Blades, 2018 - 2030 (USD Million)
- 5.5. Nacelles
- 5.5.1. Wind Turbine Composites Market Estimates And Forecasts, for Nacelles, 2018 - 2030 (USD Million)
- 5.6. Others
- 5.6.1. Wind Turbine Composites Market Estimates And Forecasts, for Others, 2018 - 2030 (USD Million)
Chapter 6. Wind Turbine Composites Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Market Share Analysis, 2024 & 2030
- 6.3. North America
- 6.3.1. North America Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. North America Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.3.3. North America Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.3.4. U.S.
- 6.3.4.1. U.S. Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.3.4.2. U.S. Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.3.4.3. U.S. Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.3.5. Canada
- 6.3.5.1. Canada Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.3.5.2. Canada Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.3.5.3. Canada Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.3.6. Mexico
- 6.3.6.1. Mexico Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.3.6.2. Mexico Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.3.6.3. Mexico Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.4. Europe
- 6.4.1. Europe Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.4.2. Europe Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.4.3. Europe Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.4.4. Germany
- 6.4.4.1. Germany Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.4.4.2. Germany Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.4.4.3. Germany Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.4.5. UK
- 6.4.5.1. UK Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.4.5.2. UK Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.4.5.3. UK Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.4.6. France
- 6.4.6.1. France Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.4.6.2. France Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.4.6.3. France Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.4.7. Italy
- 6.4.7.1. Italy Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.4.7.2. Italy Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.4.7.3. Italy Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.4.8. Spain
- 6.4.8.1. Spain Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.4.8.2. Spain Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.4.8.3. Spain Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.5. Asia Pacific
- 6.5.1. Asia Pacific Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.5.2. Asia Pacific Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.5.3. Asia Pacific Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.5.4. China
- 6.5.4.1. China Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.5.4.2. China Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.5.4.3. China Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.5.5. India
- 6.5.5.1. India Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.5.5.2. India Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.5.5.3. India Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.5.6. Japan
- 6.5.6.1. Japan Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.5.6.2. Japan Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.5.6.3. Japan Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.5.7. South Korea
- 6.5.7.1. South Korea Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.5.7.2. South Korea Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.5.7.3. South Korea Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.6. Central & South America
- 6.6.1. Central & South America Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.6.2. Central & South America Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.6.3. Central & South America Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
- 6.7. Middle East & Africa
- 6.7.1. Middle East & Africa Wind Turbine Composites Market Estimates And Forecasts, 2018 - 2030 (USD Million)
- 6.7.2. Middle East & Africa Wind Turbine Composites Market Estimates And Forecasts, By Fiber Type, 2018 - 2030 (USD Million)
- 6.7.3. Middle East & Africa Wind Turbine Composites Market Estimates And Forecasts, By Application, 2018 - 2030 (USD Million)
Chapter 7. Supplier Intelligence
- 7.1. Kraljic Matrix
- 7.2. Engagement Model
- 7.3. Negotiation Strategies
- 7.4. Sourcing Best Practices
- 7.5. Vendor Selection Criteria
Chapter 8. Competitive Landscape
- 8.1. Key Players, their Recent Developments, and their Impact on Industry
- 8.2. Competition Categorization
- 8.3. Company Market Position Analysis
- 8.4. Company Heat Map Analysis
- 8.5. Strategy Mapping, 2024
- 8.6. Company Listing
- 8.6.1. TPI Composites, Inc.
- 8.6.1.1. Company Overview
- 8.6.1.2. Financial Performance
- 8.6.1.3. Product Benchmarking
- 8.6.1.4. Strategic Initiatives
- 8.6.2. LM Wind Power
- 8.6.2.1. Company Overview
- 8.6.2.2. Financial Performance
- 8.6.2.3. Product Benchmarking
- 8.6.2.4. Strategic Initiatives
- 8.6.3. Vestas
- 8.6.3.1. Company Overview
- 8.6.3.2. Financial Performance
- 8.6.3.3. Product Benchmarking
- 8.6.3.4. Strategic Initiatives
- 8.6.4. Siemens Gamesa Renewable Energy
- 8.6.4.1. Company Overview
- 8.6.4.2. Financial Performance
- 8.6.4.3. Product Benchmarking
- 8.6.4.4. Strategic Initiatives
- 8.6.5. Hexcel Corporation
- 8.6.5.1. Company Overview
- 8.6.5.2. Financial Performance
- 8.6.5.3. Product Benchmarking
- 8.6.5.4. Strategic Initiatives
- 8.6.6. Toray Industries, Inc.
- 8.6.6.1. Company Overview
- 8.6.6.2. Financial Performance
- 8.6.6.3. Product Benchmarking
- 8.6.6.4. Strategic Initiatives
- 8.6.7. TEIJIN LIMITED.
- 8.6.7.1. Company Overview
- 8.6.7.2. Financial Performance
- 8.6.7.3. Product Benchmarking
- 8.6.7.4. Strategic Initiatives
- 8.6.8. Gurit Services AG
- 8.6.8.1. Company Overview
- 8.6.8.2. Financial Performance
- 8.6.8.3. Product Benchmarking
- 8.6.8.4. Strategic Initiatives
- 8.6.9. Suzlon Energy Limited
- 8.6.9.1. Company Overview
- 8.6.9.2. Financial Performance
- 8.6.9.3. Product Benchmarking
- 8.6.9.4. Strategic Initiatives
- 8.6.10. Owens Corning
- 8.6.10.1. Company Overview
- 8.6.10.2. Financial Performance
- 8.6.10.3. Product Benchmarking
- 8.6.10.4. Strategic Initiatives