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March 21st, 2007
Materials for Renewable Energy in 2006 at $2.4 B
The total global market for advanced materials and devices for renewable energy systems was worth almost $2.4 billion by the end of 2006, according to a report from BCC Research. At a compound annual growth rate (CAGR) of 25.8%, the market could be worth almost $7.5 billion by 2011.
Crystalline silicon, which is used in solar PV arrays, has the largest consumption of any type of advanced material, followed at a distance by thin films. Composites had the third largest consumption in 2005-2006, but nanomaterials are expected to surpass composites by 2011, says the report from BCC Research.
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