DELRAY BEACH, Fla., Nov. 6, 2024 /PRNewswire/ -- The report "Wind Blade Recycling Market by Blade Material, Recycling Method, End-Use Industry, and Region - Global Forecast to 2029", size is expected to reach USD 3,70,935 thousand in 2029 from USD 68,235 thousand in 2024, at a CAGR of 40.3% from 2024 to 2029.
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198 - Tables
64 - Figures
217 - Pages
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The demand for wind blade recycling is driven by the growing innovation in recycling methods and the ban on wind blade landfilling. As environmental regulations grow, many countries in Europe, the US, and Australia are mandating recycling or repurposing the wind blades. In Europe, countries are focusing on reducing wind blade waste and trying to promote a circular economy in the wind industry. Germany is leading this initiative as it has one of the old wind industries and thus facing the challenge of disposing of wind blades. Spain is also framing policies to facilitate the reuse and recycling of wind blade materials. Many wind blade recycling plants like "Waste2Fiber", an initiative by Accionia and RenerCycle are being set up in Spain. Such a growing number of recycling facilities are further driving the wind blade recycling market.
Glass fiber segment is expected to grow with highest CAGR in Wind Blade Recycling Market during the forecasted period.
The wind blade recycling market is segmented based on the blade material i.e. glass fiber and carbon fiber. Glass fiber is expected to have the highest CAGR in the forecasted period, as the wind blade is majorly composed of glass fiber. Glass fiber is lightweight, durable, and cost-effective which makes it an ideal material for wind blades. Recycled glass fiber can be used in various end-use industries like construction and consumer goods. With the decommissioning of thousands of wind turbines each year, the requirement for recycling glass fiber composites is becoming increasingly crucial. The development of new recyclable technologies further strengthens the glass fiber segment in the market.
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In 2023, Construction segment had the largest market share in wind blade recycling market.
The wind blade recycling market's end-use segment consists of construction, automotive, electronic & consumer goods and other end-use industries. The co-processing is a type of mechanical recycling method, in which the blade material is shredded and chopped into small pieces and further used as a filler in cement as a replacement for clay and sand. This method has high TRL as of now and is probably one of the viable and efficient wind blade recycling solutions. Thus, the construction industry generates high demand for recycled blade materials globally.
Chemical recycling segment is expected to have second-highest CAGR during forecasting period in terms of value.
Chemical recycling is expected to gain momentum in the forecasted years. Compared to other recycling processes especially mechanical recycling technologies, chemical recycling is an effective method to extract high quality glass and carbon fiber. Additionally, as companies develop new recyclable resin, chemical recycling will be the most sought for option to recycle the wind blades that are made using this new rein.
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Asia Pacific region is expected to register highest CAGR both in terms of value and volume during forecasted period.
The wind blade recycling market has been studied in North America, Europe, Asia Pacific, Latin America, and Middle East, and Africa. The Asia Pacific is expected to be the fastest-growing market, majorly due to the large number of wind turbine installations in China and India. The massive installations in the past decade are expected to age in the coming years and thus this region will see a rise in demand for recycling the wind blades. Additionally, companies like Carbon River are aiming to setup recycling facilities in India which will significantly boost the market.
Key players
Prominent companies include Veolia (France), Acciona (Spain), Stena Metal AB (Sweden), Vestas (Denmark), Iberdrola, S.A. (Spain), Makeen Energy (Denmark), Kuusakoski OY (Finland), Renercycle (Spain), Continuum (Denmark), Holcim Group (Switzerland), Alliant Energy Corporation (US), Plaswire Ltd (Ireland), Goldwind (China), Chn Energy Investment Group (China), and Enel SpA (Italy), Gjenkraft AS (Norway), Kingo Wind (Denmark), Carbon River Inc (US), Global Fiberglass Solution (US), Wind Power Solutions, LLC (US), Refiber Aps (Denmark), Eurecum Gmbh & Co.Kg (Germany), Reviable Energy (US), EDF Group (France), Neowa Gmbh (Germany), and among others.
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