The value of the global composite blade market

AMI Consulting report published in March 2023, estimates the value of the global composite blade market at over €5 billion. The report quantifies the market, analyses its structure, and examines the changes which are underway. Additionally, it discusses the status of wind blade technology and the main sustainability threats and opportunities.

AMI Consulting estimates that global demand for materials (in weight) for the production of wind turbine blades grew at an average rate of 14.7% p.a. between 2017 and 2022. Demand growth has been particularly strong in Asia and North America.

The introduction of the new action system in China brought another installation rush, like that seen back in 2015. In 2021, this led to a 39% drop in new onshore installations. Likewise, new capacity additions in the US reached annual record-breaking levels in 2019 and 2020 because US wind projects had to come online by December 2020 to receive the full 2016 PTC (Production Tax Credit) value. Disruptions in the supply chain caused by the COVID-19 pandemic, the US onshore market experienced a drop in new installations in 2021. Some of these projects were delayed to 2022.

The industry continues its transition towards energy auction systems, a process that in some countries has not been a smooth experience. With the move towards auction systems, the need for manufacturers to maintain low cost of energy levels is more important than ever. The increased competition among wind turbine manufacturers continues to exert pressure on prices. The report provides a comprehensive review of the different commercial strategies adopted by OEMs and raw material suppliers to adapt to this competitive pressure.

Increased effort is being invested into blade designs to maximise power generation and reliability while minimising weight. This requires careful attention to materials, processing, and blade design. To maximise generators’ return on investment, average blade size is getting longer. As blade length and weight grow, increased sophistication in blade design, materials and manufacture are required. The link between generating capacity and blade size is examined in the report. Increasing blade length has not only been driven by offshore wind energy growth but also to maximise wind capture of onshore wind turbines on low wind speed sites, specified at a lower power rat