Market Size of Wind Turbine Blade Recycling Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.50 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia-Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Wind Turbine Blade Recycling Market Analysis
The Wind Turbine Blade Recycling Market is expected to register at a CAGR of approximately 4.5% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently the market has now reached pre-pandemic levels.
- Over the long term, the increasing number of offshore and onshore wind energy plants for decommissioning is expected to drive the growth of the market.
- On the other note, rising environmental and economic factors due to the wind turbine blade recycling process are hampering the market's growth.
- Nevertheless, according to a recent survey by the University of Cambridge, it is estimated that 43 million tonnes of wind turbine blade waste will be generated by the year 2050. This will create ample opportunities for the wind turbine blade recycling market in the near future.
- Europe is likely to witness significant growth in the wind turbine blade recycling market during the forecast period, mainly due to its favorable government initiatives toward wind turbine blade recycling across the region.
Wind Turbine Blade Recycling Industry Segmentation
Wind power is the process by which the wind is used to generate electricity. Wind turbine blades require disposal or recycling when the turbines are decommissioned at the end-of-use stage or when wind farms are being upgraded. The Wind turbine blade recycling Market report is segmented by Blade Material and Recycling Type. By Blade material, the market is segmented into carbon fiber, glass fiber, and other blade materials. By recycling type, the market is segmented into Physical Recycling and Thermo-Chemical Recycling (Pyrolysis). For each segment, the forecasts have been mentioned in USD billion.
| Blade Material | |
| Carbon Fiber | |
| Glass Fiber | |
| Other Blade Materials |
| Recycling Type | |
| Physical Recycling | |
| Thermo-Chemical Recycling (Pyrolysis) |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| South America | |
| Middle East and Africa |
Wind Turbine Blade Recycling Market Size Summary
The Wind Turbine Blade Recycling Market is poised for growth, driven by the increasing need to decommission aging offshore and onshore wind energy plants. Despite the initial setbacks caused by the COVID-19 pandemic, the market has rebounded to pre-pandemic levels. The recycling process faces challenges due to environmental and economic concerns, yet the projected generation of substantial wind turbine blade waste presents significant opportunities for market expansion. Europe is expected to experience notable growth, supported by favorable government policies and initiatives aimed at promoting recycling efforts across the region. The emphasis on recycling aligns with the broader goals of reducing landfill waste and enhancing sustainability in the wind energy sector.
The wind energy industry is rapidly expanding, offering a carbon-free energy source that contributes to addressing fossil fuel shortages and climate change. The market for wind turbine blade recycling is characterized by the adoption of advanced techniques such as thermochemical recycling, which has shown promise in recovering valuable materials from decommissioned blades. Notable developments include the commercialization of pyrolysis processes and innovative recycling techniques by institutions and companies, which are setting the stage for a more sustainable approach to wind turbine blade disposal. Europe's commitment to recycling and reusing decommissioned blades, along with significant investments in recycling infrastructure, positions the region as a leader in the wind turbine blade recycling market during the forecast period.
Wind Turbine Blade Recycling Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Wind Turbine Rotor Blades Price Analysis
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1.4 Recent Trends and Developments
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1.5 Government Policies and Regulations
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraints
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1.7 Supply Chain Analysis
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1.8 Porter's Five Forces Analysis
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1.8.1 Bargaining Power of Suppliers
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1.8.2 Bargaining Power of Consumers
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1.8.3 Threat of New Entrants
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1.8.4 Threat of Substitutes Products and Services
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1.8.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Blade Material
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2.1.1 Carbon Fiber
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2.1.2 Glass Fiber
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2.1.3 Other Blade Materials
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2.2 Recycling Type
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2.2.1 Physical Recycling
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2.2.2 Thermo-Chemical Recycling (Pyrolysis)
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2.3 Geography
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2.3.1 North America
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2.3.2 Europe
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2.3.3 Asia-Pacific
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2.3.4 South America
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2.3.5 Middle East and Africa
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Wind Turbine Blade Recycling Market Size FAQs
What is the current Wind Turbine Blade Recycling Market size?
The Wind Turbine Blade Recycling Market is projected to register a CAGR of 4.5% during the forecast period (2024-2029)
Who are the key players in Wind Turbine Blade Recycling Market?
LM Wind Power, Siemens Gamesa Renewable Energy SA, Vestas Wind Systems A/S, Veolia Environnement S.A. and Arkema S.A. are the major companies operating in the Wind Turbine Blade Recycling Market.
