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Energy And Resources

Advanced Materials and Devices for Renewable Energy: Global Markets--Focus on the U.S.

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REPORT HIGHLIGHTS

  • The global market for advanced materials and devices used in renewable energy systems was $18.2 billion in 2010; it is projected to approach $22.3 billion in 2011 and it will further grow to $31.8 billion in 2016 increasing at a compound annual growth rate (CAGR) of 7.4%
  • In 2010, the U.S. consumed more than $1.1 billion worth of advanced materials and devices used in the production of renewable energy systems.  The market is projected to grow to nearly $1.3 billion in 2011 and more than $4.1 billion in 2016, a CAGR of 26.9% over the next 5 years.
  • Photovoltaic materials and devices account for the largest share of the U.S. market, i.e., nearly 53% in 2010.  PVs’ share of the market is projected to decline to 39% by 2016, but is still expected to lead wind energy, the second-largest segment with 30% of the market in 2016.

SUMMARY FIGURE
RENEWABLE ENERGY CONSUMPTION OF ADVANCED MATERIALS AND DEVICES BY TYPE, 2010-2016
(%)
Source: BCC Research