• 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.
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STUDY GOALS AND OBJECTIVES
The overall goal of this study is to identify and quantify the market for advanced material and device technologies used in renewable-energy systems. Specific objectives include the following:
• Identifying advanced materials and devices that are used in renewable-energy systems
• Analyzing and predicting trends in the most likely application(s) for each of these materials and devices, as the basis for developing baseline estimates of the renewable-energy-related market for advanced materials and devices
• Pinpointing new materials and devices that are likely to be introduced into renewable-energy systems in the next 5 years and their expected market impacts
• Drawing attention to manufacturers of renewable-energy systems and associated advanced materials and devices that are most likely to benefit from the trends identified above
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