The global wind turbine composite materials market is expected to reach a valuation of US$ 25.4 Billion by 2032, with sales growing at a healthy CAGR of 7.14% from 2022 to 2032. Scaling up from a value of US$ 12 Billion in 2021, the target market is set to reach an estimated US$ 12.75 Billion in 2022.

The increasing wind energy installations along with the rising application of carbon fiber is projected to serve as a major growth driver for the wind turbine composite materials market during the forecast period. Composites are of tremendous importance in the manufacturing of wind turbine rotor blades, one of the key components of the general wind turbine structure.

Owing to the persistent increment in the length of rotor blades so as to raise the wind turbine output, the market for wind turbine composite materials is offered numerous growth opportunities during the projected period. Again, the soaring demand for wind energy leads to the construction of larger wind blades that are more effective and deliver higher output.

Competitive Landscape 

Gurit Holding AG, TPI Composites, Cytec Industries, Teijin Limited, and Rotal Tencate NV among others are some of the major players in the wind turbine composite materials market profiled in the full version of the report. Key market participants are keen on entering markets in emerging economies to develop their manufacturing facilities. These businesses are focusing on product innovation and development to gain a competitive edge.

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Key Segments Profiled in the Global Wind Turbine Composite Materials Market

Type of Fiber:

• Carbon Fiber
• Glass Fiber

Type of Resin:

• Epoxy
• Vinyl Ester
• Polyester
• Polyurethane

Regional Analysis of Wind Turbine Composite Materials Market

Based on region, the wind turbine composite materials market in North America will present considerable growth. The target market in this region is anticipated to grow at a steady rate during 2022-2032.

Escalating power consumption, implementation of stringent environmental regulations by the U.S. and Canadian governments, and the strong presence of key market participants will drive the growth of the wind turbine composite materials market in North America during the projection period. Apart from, North America, the Asia Pacific region will also present notable growth in the wind turbine composite materials market during 2022-2032.