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

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.

INTRODUCTION

STUDY BACKGROUND

Two years have passed since BCC published its last report on the global market for advanced materials and devices used in renewable-energy systems.  Since then, the global market for renewable energy has continued to grow and evolve.  BCC therefore considers it important to update the earlier report’s findings and conclusions about the size and structure of this important market.

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

INTENDED AUDIENCE

This report is a business opportunity report intended especially for developers and vendors of advanced materials and devices that target the renewable-energy systems market.  It should also be useful to vendors of renewable-energy systems interested in understanding where the market is headed with respect to advanced enabling technologies.

Other readers who will find the report’s findings and conclusions informative include:

• Investors
• Members of renewable-energy trade, professional, and advocacy organizations
• Officials of government agencies and multinational organizations responsible for optimizing energy consumption and promoting the use of renewable energies

While the report is oriented to the interests and concerns of a nontechnical audience, it contains a great deal of technical information that should also be of interest to scientists and engineers working in the renewable-energy field.

SCOPE AND FORMAT

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
• Wind
• Geothermal
• Ocean

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
• Definitions
• 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

INFORMATION SOURCES AND METHODOLOGY

The findings and conclusions of this report are based on information gathered from renewable-energy products manufacturers, advanced materials and devices vendors and renewable energy-related organizations.  Interview data were combined with information gathered through an extensive review of secondary sources such as trade publications, trade associations, company literature, and online databases to produce the baseline market estimates contained in this report. 

The methodologies and assumptions used to develop the market projections in this report are discussed at length in the section on Detailed Market Estimates and Projections.  The report carefully documents data sources and assumptions.  This way, readers can see how the market estimates were developed and, if they so desire, test the impact on the final numbers of changing assumptions such as price.

ANALYST CREDENTIALS

Andrew McWilliams, the author of this report, is a partner in the Boston-based international technology and marketing consulting firm, 43^rd Parallel, LLC.  He is the author of numerous other Business Communications Co. business opportunity analyses, including the predecessor to this report (EGY053B Advanced Materials and Devices for Renewable Energy) and several other reports in the areas of energy and advanced materials, including EGY051A Petroleum Fuel Optimization Technologies, EGY055B Building the Global Hydrogen Economy: Technologies and Opportunities, EGY065B Enabling Technologies for the Smart Grid, ENV007B The U.S. Market for Green Building Materials, CHM020D Catalysts for Environmental and Energy Applications, NAN044A Nanotechnology in Energy Applications, andAVM038D Advanced Structural Carbon Products: Fibers, Foams and Composites.

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DISCLAIMER

This publication provides informative material of a professional nature.  It does not constitute managerial, legal, or accounting advice, nor should it serve as a corporate policy guide or an endorsement of any given product or company.  This information is intended to be as accurate as possible at the time it was written and was undertaken on a best-effort basis.  The views expressed are those of the author and do not make any warranty, express or implied, for the accuracy, completeness, or usefulness of the information, or for the interpretation of data or its use by others.  Projections involve risks and uncertainties that include but are not limited to technical risks associated with technology development, government regulatory approvals, and access to capital.  The author assumes no responsibility for any losses or damages that may result from one’s reliance on this material.

Analyst Credentials

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.