Advanced Materials and Devices for Renewable Energy: Global Markets
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%.
The report focuses on the global and major regional and national markets for advanced materials (e.g., polymers, elastomers, composites, high-temperature alloys, powder metals, thin films, and others) and devices (sensors and controllers, optics, etc.) used in the fabrication of the following types of renewable-energy systems:
- Solar photovoltaic
- Solar thermal
- Mini- and micro-hydro
The report does not cover biofuels or renewable-energy-storage technologies such as batteries and fuel cells in detail because they are covered in other recent BCC studies.
The report includes the following major elements:
- Executive summary
- Overall trends in renewable-energy systems
- Advanced materials and devices with current or potential applications in renewable-energy systems
- Main suppliers/buyers description
- Commercial/developmental status
- Specific renewable-energy applications
- Properties/advantages and disadvantages/competing materials or devices
- Market size, segmentation and growth trends
- 2010 global sales as well as sales in selected regional and national markets
- Market drivers
- Market projections, 2011-2016
- Industry analysis
- Number and size of firms
- Company profiles
Andrew McWilliams spent more than 25 years as a consultant with Ernst & Young, McKinsey & Company and A.T. Kearny focused on manufacturing before segueing into research analysis. He has been covering myriad technology categories for BCC Research for more than 15 years. McWilliams has a BA from Princeton University and an MA from Harvard University. He has worked in more than 40 countries and he resides in the greater Boston area.
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- The global market for advanced materials and devices for renewable-energy systems was worth an estimated $11,636.8 million in 2009. The market is projected to grow to more than $16,900 million in 2014 at a compound annual growth rate (CAGR) of 7.8% from 2009 to 2014.
- Small hydro and ocean energy sales will experience the highest compound annual growth rate (CAGR) over the forecast period of 193.6%. This sector is worth $1.1 million in 2009 and is expected to reach nearly $240.1 million in 2014.
- The total market for Geothermal energy is projected to grow from $5.8 million in 2009 to $14 million in 2014, a compound annual growth rate (CAGR) of 19.3%. The two fastest-growing segments of the advanced materials and devices market are Solar energy (PV and thermal) and Small hydro and ocean energy.
The total global market for advanced materials and devices for renewable energy systems was worth almost $2.4 billion by the end of 2006. Growing at a compound annual growth rate (CAGR) of 25.8%, the market will be worth almost $7.5 billion by 2011.
Solar photovoltaic devices hold the highest share of the market throughout the forecast period, worth $1.2 billion in 2006-55.1% of the total global market. By the end of 2011 they will be worth more than $4.9 billion, a CAGR of 28.1% and a 56.3% share of the market.
Ocean energy had the highest growth rate through the forecast period, reaching $360 million in 2011, a CAGR of 66.5%.
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