NewswireToday - /newswire/ -
Montréal, Québec, Canada, 2008/09/08 - According to the new market research report available at Electronics.ca Publications, The Global Market for Thin Films in Energy Applications, the global market for thin films in energy applications was worth $1.1 billion in 2007.
Electronics.ca Publications, the electronics industry market research and knowledge network, announces the availability of a new report entitled "The Global Market for Thin Films in Energy Applications".
Global demand for traditional fossil fuels has risen at an unprecedented rate over the last several years. The economics of supply and demand have driven prices of oil, gas, and coal to record levels. In addition, fossil fuels are considered a source of pollution that aids climate change. Nations have responded by instituting reductions in activities that require the use of fossil fuels and by searching for alternative energy methods.
The new market research report available at Electronics.ca Publications, The Global Market for Thin Films in Energy Applications, examines traditional and alternative energy technologies to determine the use, if any, of thin films in their fabrication and operation. Thin films are often applied to reduce the cost of product fabrication, improve performance, and provide more flexibility in product design. In addition, they are environmentally benign.
According to the report, the global market for thin films in energy applications was worth $1.1 billion in 2007. This is expected to increase to $1.4 billion in 2008 and $3.9 billion in 2013, for a compound annual growth rate (CAGR) of 23.5%.
The market is divided into application segments for photovoltaics, concentrating solar power, geothermal energy, nuclear energy, batteries and fuel cells. Of these, the photovoltaics segment has the largest share of the market, with $916.4 million in revenues in 2007. This is slated to increase to $1.2 billion in 2008 and over $3.3 billion in 2013, a CAGR of 23.6%.
Thin films for fuel cell applications are the second largest segment, with sales exceeding $82.0 million in 2007. This should increase to $98.7 million in 2008 and $301.0 million in 2013, for a CAGR of 25.0%.
Thin films for batteries have the third largest share of the market, worth $36.0 million in 2007 and an estimated $39.2 million in 2008. This segment should reach over $98.0 million in 2013, for a CAGR of 20.1%.
Applications in nuclear energy are expected to see the slowest growth of any segment. Revenues in 2007 exceeded $25.0 million and are expected to increase only slightly in 2008. This segment should reach $33.1 million in 2013 for a CAGR of 5.0%.
Concentrating solar power applications are expected to see the most robust growth of any segment. Sales for thin films in this segment generated $14.7 million in 2007 and an estimated $23.4 million in 2008. This is expected to reach $93.0 million in 2013 for a CAGR of 31.8%.
Thin films for geothermal applications have the smallest share of the market, worth $2.7 million in 2007. This is expected to increase to $3.0 million in 2008 and $5.3 million in 2013, a CAGR of over 12.0%.
This report offers analysis on thin films for energy on a global basis, including manufacturing capacity and consumption by various regional markets, and examines government funding and support, industry involvement and environmental impact. This report also discusses the potential for applications, and identify where thin films are being used by specific applications.