Advanced Wind Turbine Blade Materials Market Projection 2034: Valued at USD 5.0 Billion in 2023, Reaching USD 9.8 Billion

The global advanced wind turbine blade materials market (첨단 풍력 터빈 블레이드 재료 시장), valued at US$ 5.0 billion in 2023, is expected to grow at a CAGR of 6.3% from 2024 to 2034, reaching US$ 9.8 billion by 2034.

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Analyst Viewpoint

The reduction in fossil fuel dependency is a significant driver for the advanced wind turbine blade materials market. Governments worldwide are investing in wind energy to curb carbon emissions and enhance energy security. Research and development (R&D) in materials, particularly natural and hybrid composites, are also propelling market growth.

Key players in the market are focusing on incorporating natural fibers in hybrid composites to reduce reliance on non-renewable resources, mitigate carbon emissions, and offer better recycling options at the end of their lifecycle.

Market Introduction

Fiberglass-reinforced polyester, epoxy resins, carbon fiber, and aramid (Kevlar) are the most commonly used advanced materials for wind turbine blades. Glass Fiber Reinforced Polymer (GFRP) is preferred due to its strength-to-weight ratio and moldability. Epoxy resins, known for their abrasion resistance and UV stability, are also widely used.

Vacuum infusion and prepreg processes are the predominant methods for manufacturing wind turbine blades, with vacuum infusion being more frequent for longer blades due to its efficiency in creating lighter and stronger composite structures.

Drivers

Reduction in Fossil Fuel Dependency: The shift from fossil fuels to renewable energy sources, such as wind and solar power, is driving market dynamics. Wind energy has significantly reduced carbon emissions, with one MWh of wind energy avoiding approximately 75 tons of CO2 emissions.
R&D in Materials: Innovations in hybrid composites and natural fibers are enhancing the performance and environmental sustainability of wind turbine blades. Hybrid composites like carbon aramid-reinforced epoxy and natural fibers such as aloe vera and bamboo are gaining traction.
Regional Outlook

Asia Pacific held the largest market share in 2023, driven by the growth in wind farms and investments in wind turbine blade innovations. Significant projects, such as GE Vernova's Ishikari Hachinosawa Wind Farm in Japan and Ørsted's offshore wind farms in Taiwan, highlight the region's expanding wind energy infrastructure.

Analysis of Key Players

Key players, including Siemens Gamesa Renewable Energy, LM Wind Power, TPI Composites, Vestas, NORDEX SE, Taishan Fiberglass Inc., Gurit Services AG, and The National Renewable Energy Laboratory, are investing in R&D for 3D-printed wind turbine blades and integrated additive manufacturing processes.

Key Developments

In June 2024, TPI Composites Inc. agreed to sell its automotive business to Clear Creek Investments LLC to focus on its core wind market business.
In March 2024, Swancor signed a letter of intent with Siemens Gamesa to enhance Siemens' RecyclableBlade production capacity, aiming for fully recyclable wind turbines by 2040.
Market Snapshot

Market Size (2023): US$ 5.0 billion
Market Forecast (2034): US$ 9.8 billion
Growth Rate (CAGR): 6.3%
Segmentation: By fiber type (glass fibers, carbon fibers), resin type (epoxy resins, polyurethane resins), blade size (up to 50 meters, over 50 meters), and application (onshore and offshore wind turbines).
Conclusion

The advanced wind turbine blade materials market (Marché des matériaux avancés pour pales d'éoliennes) is set for significant growth driven by the global shift to renewable energy, advancements in material technology, and increased investments in wind energy infrastructure. As the industry moves towards sustainability, the development of natural and hybrid composite materials will play a crucial role in future innovations.

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