Materials market for green energy to grow 7.8%

The report, Advanced Materials and Devices for Renewable Energy, is published by BCC Research.

BCC expects the largest segment of materials and devices market, that serving solar energy (photovoltaics and thermal), to increase to $13.1bn (€9bn) in 2014, after rising at a CAGR of 9.5% from the 2009 value of $8.3bn (€5.8bn).

The second largest segment, wind energy, is estimated at $3.3bn (€2.3bn) in 2009, and is projected to increase at a CAGR of 1.7% to reach $3.6bn (€2.5bn) in 2014.

The geothermal energy segment is expected to reach $14m (€9.7m) in 2014, after rising at a CAGR of 19.3% from the 2009 value of $5.8m (€4m).

BCC forecasts the highest rate of growth – at a CAGR of 193.6% – in the next five years is expected to occur in materials and devices for the small hydro and ocean energy sector. A value of $1.1m (€0.8m) in 2009 is projected to grow to $240.1m in 2014.

The report focuses on the global market for advanced materials (polymers, elastomers, composites, high-temperature alloys, powder metals, thin films and others) and devices (sensors and controllers, optics, etc.) used in the fabrication of solar-photovoltaic, solar-thermal, mini- and micro-hydro, wind, geothermal, and marine renewable energy devices and systems.

BCC intends the report especially for developers and vendors of advanced materials and devices that target the renewable energy systems market. It should also be useful, says the publisher, to vendors of renewable energy systems interested in understanding where the market is heading with respect to advanced enabling technologies.