Advanced Wind Turbine Blade Materials Market To Reach US$ 9.8 Bn By 2034, Expanding At A 6.3% CAGR
Advanced Wind Turbine Blade Materials Market To Reach US$ 9.8 Bn By 2034, Expanding At A 6.3% CAGR . (MENAFN - EIN Presswire) 
  Advanced Wind Turbine Blade Materials Market
The global advanced wind turbine blade materials market, valued at $5.0 billion in 2023, is projected to grow at a 6.3% CAGR, ...
América - MenaFN
(MENAFN- EIN Presswire)

Advanced Wind Turbine Blade Materials Market

The global advanced wind turbine blade materials market, valued at $5.0 billion in 2023, is projected to grow at a 6.3% CAGR, reaching $9.8 billion by 2034.

WILMINGTON, DE, UNITED STATES, December 14, 2024 /EINPresswire / -- The global advanced wind turbine blade materials was valued at US$ 5.0 billion in 2023 and is forecasted to grow at a CAGR of 6.3% from 2024 to 2034, reaching US$ 9.8 billion by the end of 2034. This growth is driven by factors such as the reduction in fossil dependency, increasing in energy, and advancements in materials for wind turbine blades.Download to explore critical insights from our Report in this sample -Analyst Viewpoint: Market Drivers and OpportunitiesThe ongoing shift from fossil fuel-based energy to renewable sources like wind energy is a major driver for the advanced wind turbine blade materials market. Governments worldwide are increasingly investing in wind power to curb carbon emissions and enhance energy security.In parallel, R&D in materials is propelling market growth. The development of natural and hybrid composites is reducing reliance on non-renewable resources. These materials, which can be recycled and help mitigate carbon emissions associated with blade manufacturing, are being integrated into wind turbine blade production processes.Market Introduction: Key Materials and TechnologiesThe most commonly used materials in advanced wind turbine blade production include:.Fiberglass-reinforced polyester and epoxy resins: Widely used for their durability, light weight, and resistance to fatigue..Carbon fiber and aramid (Kevlar): Used in high-performance applications, offering strength and resilience..Wood compounds like wood-epoxy and wood-fiber epoxy are gaining traction as sustainable materials.Among these, Glass Fiber Reinforced Polymer (GFRP) is the most commonly used due to its excellent strength-to-weight ratio and ease of molding, which contribute to efficient wind energy conversion.Other key materials include epoxy resins, which are resistant to abrasion, UV radiation, and solvents. These materials are crucial in ensuring the long-term reliability and performance of wind turbine blades.The two primary manufacturing processes for wind turbine blades are vacuum infusion and prepreg. Vacuum infusion is favored for producing larger blades, as it creates lighter, stronger composite structures.Market Drivers1. Reduction in Fossil Fuel DependencyThe transition from fossil fuels to renewable energy sources, especially wind and solar power, is accelerating the adoption of wind energy worldwide. As countries reduce coal and gasoline usage, wind energy adoption continues to rise, leading to increased demand for advanced materials for wind turbine blades.According to the U.S. Department of Energy, the U.S. produced 52,687 MW of offshore wind energy in 2023, a 15% increase from 2022. Wind energy avoids 75 tons of CO2 emissions per MWh, and in 2020, wind power helped reduce over 200 million metric tons of CO2 globally.2. R&D in MaterialsHybrid composites and the use of natural fibers in wind turbine blades are gaining traction. These materials, such as aloe vera, bamboo, banana, and sisal, help reduce costs, improve performance, and enhance sustainability by supplementing traditional synthetic fibers.The integration of carbon aramid-reinforced epoxy and glass-reinforced epoxy composites in hybrid blades is also becoming more common, further driving the evolution of wind turbine blade materials.Visit our report to explore critical insights and analysis -Regional Outlook: Asia Pacific Leading the MarketIn 2023, Asia Pacific held the largest share of the advanced wind turbine blade materials market, driven by a significant increase in wind farm installations. For example, in 2024, GE Vernova and Ørsted launched major offshore wind farms in Japan and Taiwan, respectively.In North America, increasing investments in wind energy and funding for blade innovations are boosting market growth. The U.S. Department of Energy's renewal of funding for the Institute for Advanced Composites Manufacturing Innovation in 2023 further supports the development of next-generation materials.Key Players and DevelopmentsSeveral major players are driving advancements in the market, focusing on R&D and innovative manufacturing processes, such as 3D-printed wind turbine blades. Key companies include:.Siemens Gamesa Renewable Energy.LM Wind Power.TPI Composites.Vestas.NORDEX SE.Taishan Fiberglass Inc..Gurit Services AGRecent developments include:.TPI Composites focusing on its core wind business by selling its automotive division to Clear Creek Investments in June 2024..Siemens Gamesa collaborating with Swancor to strengthen the production capacity for RecyclableBlade, aiming to create fully recyclable wind turbines by 2040.Market Segmentation.By Fiber Type:oGlass FibersoCarbon FibersoOthers.By Resin Type:oEpoxy ResinsoPolyurethane ResinsoOthers.By Blade Size:oUp to 50 MetersoOver 50 Meters.By Application:oOnshore Wind TurbinesoOffshore Wind Turbines.By Region:oNorth AmericaoEuropeoAsia PacificoLatin AmericaoMiddle East & AfricaFuture OutlookThe advanced wind turbine blade materials market is poised for steady growth, driven by ongoing developments in hybrid composites, natural fibers, and additive manufacturing. With a projected market size of US$ 9.8 billion by 2034, the market will continue to expand as the demand for wind energy and sustainable materials grows globally. Enhanced blade performance, sustainability, and recycling will be key focus areas for the industry's future.Examine key highlights and takeaways from our Report in this sample –More From Transparency Market ResearchEnergy Efficient Windows MarketOffshore Wind Turbines MarketAbout Transparency Market ResearchTransparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.Contact:Transparency Market Research Inc.CORPORATE HEADQUARTER DOWNTOWN,1000 N. West Street,Suite 1200, Wilmington, Delaware 19801 USATel: +1-518-618-1030USA – Canada Toll Free: 866-552-3453Website:Email: ...Follow Us: LinkedIn| Twitter| Blog | YouTube

Atil Chaudhari

Transparency Market Research Inc.

+1 518-618-1030

email us here

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Jordania
https://menafn.com/images/Menafn_SmallLogo.jpg
https://menafn.com/1108991716/Advanced-Wind-Turbine-Blade-Materials-Market-To-Reach-US-98-Bn-By-2034-Expanding-At-A-63-CAGR
2024-12-13
rss
(MENAFN - EIN Presswire) 
  Advanced Wind Turbine Blade Materials Market
The global advanced wind turbine blade materials market, valued at $5.0 billion in 2023, is projected to grow at a 6.3% CAGR, ...
Advanced Wind Turbine Blade Materials Market To Reach US$ 9.8 Bn By 2034, Expanding At A 6.3% CAGR