Market Insights
“The Wind Turbine Blade Recycling Market size was US$ 2 Billion in 2023 and is likely to grow at an impressive CAGR of 5% in the long run to reach US$ 3 Billion in 2030.”
Market Dynamics
Introduction
Wind turbine blade recycling is emerging as a groundbreaking step towards creating a waste-free future for the wind industry. About 85%-90% of wind turbines' total mass can be recycled using existing recycling practices. Under existing technology, wind blades last about 20 years and can be recycled afterward. Through recycling they can be transformed into other applications across various industries, providing streams of recycled materials for use in different manufacturing processes.
Market Drivers:
Many organizations are adopting and pushing for circular economy principles, which are turning out to be a key driver in the wind turbine blade recycling market. Circular economy principles underline reducing waste and promoting the recycling and repurposing of materials, aligning perfectly with the sustainable disposal needs of wind turbine blades.
Market Challenges:
Recycling the wind blades efficiently is a challenge. They are mostly made from composites, such as fiberglass, carbon fiber, and resins, so separating them for recycling is particularly difficult and expensive.
Recent Developments:
- In March 2023, LM Wind Power joined 13 partners in the Blades2Build (B2B) project to develop new recycling solutions for wind turbine blades.
- In March 2022, the ZEBRA (Zero wastE Blade ReseArch) consortium announced that they had manufactured the world’s largest thermoplastic blade at 62 meters which is also 100% recyclable, using their Elium® liquid resin (designed and built at the LM Wind Power plant in Ponferrada, Spain).
- In September 2021, Siemens Gamesa launched the world’s first recyclable wind turbine blade for commercial use offshore.
Recent Strategic Alliances and Partnerships:
Market players form strategic alliances and partnerships in the market. Some recent developments in the past few years:
- In January 2022, along with parent company GE Renewable Energy, LM Wind Power committed to support a blade-recycling project in Spain launched by the utility Endesa and partners PreZero España and Reciclalia Composite.
- In December 2020, GE Renewable Energy signed an agreement with Veolia to recycle its onshore wind turbine blades in the United States.
Segments Analysis
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Segmentations
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List of Sub-Segments
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Segments with High Growth Opportunity
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Blade Material-Type Analysis
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Carbon Fiber, Glass Fiber, and Others
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Glass Fiber is expected to grab the largest share of the market in the coming years.
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Recycling-Type Analysis
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Physical Recycling and Thermo-Chemical Recycling (Pyrolysis)
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Thermo-Chemical Recycling (Pyrolysis) is expected to dominate the market during the forecast period.
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Region Analysis
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North America, Europe, Asia-Pacific, and Rest of the World
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Europe is likely to be the leading segment in the market during the forecast period.
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By Blade Material Type
“Glass Fiber is expected to be the leading segment in the market during the forecast period”.
- The wind turbine blade recycling market is segmented into carbon fiber, glass fiber, and others.
- Glass fiber has been a preferred material of choice for wind turbine blades due to its relatively lower cost compared to carbon fiber. It also offers good durability and has widely established recycling processes.
- Carbon fiber is the second leading segment of the market, followed by other blade materials like balsa wood.
Regional Analysis
“Europe is estimated to remain the largest market for Wind Turbine Blade Recycling during the forecast period”.
- In terms of region, Europe is expected to remain the largest market for wind turbine blade recycling during the forecast period.
- By 2030, it is projected that more than 52,000 tons of wind turbine blades will need to be recycled each year in Europe alone.
- The wind industry in Europe actively commits to reusing, recycling, or recovering 100% of decommissioned blades.
Key Players
All of the major players compete in some of the governing factors including price, service offerings, regional presence, etc. The following are the key players in the wind turbine blade recycling market.
Here is the list of the Top Players (Alphabetically Arranged)
- Arkema S.A.
- Carbon Rivers
- Enel Green Power S.p.A.
- LM Wind Power
- MAKEEN Energy
- Siemens Gamesa Renewable Energy SA
- Stena Recycling
- SUEZ Group
- Veolia Environment S.A.
- Vestas Wind Systems A/S
Note: The above list does not necessarily include all the top players in the market.
Are you the leading player in this market? We would love to include your name. Write to us at [email protected]
Report Features
This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis.
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
- Market trend and forecast analysis.
- Market segment trend and forecast.
- Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
- COVID-19 impact and its recovery curve
- Attractive market segments and associated growth opportunities.
- Emerging trends.
- Strategic growth opportunities for the existing and new players.
- Key success factors.
The wind turbine blade recycling market is segmented into the following categories.
Wind Turbine Blade Recycling Market, by Blade Material Type
- Carbon Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Glass Fiber (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Wind Turbine Blade Recycling Market, by Recycling Type
- Physical Recycling (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
- Thermo-Chemical Recycling (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
Wind Turbine Blade Recycling Market, by Region
- North America (Country Analysis: The USA, Canada, and Mexico)
- Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
- Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
- Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
- This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s Wind Turbine Blade Recycling market realities and future market possibilities for the forecast period.
- The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the marke
- The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
- This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
- More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
- We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
Report Customization Options
With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:
Company Profiling
- Detailed profiling of additional market players (up to three players)
- SWOT analysis of key players (up to three players)
Competitive Benchmarking
- Benchmarking of key players on the following parameters: Service portfolio, geographical reach, regional presence, and strategic alliances
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