The phase change materials market was worth US$ 2.1 billion in 2019 and is expected to reach US$ 10.3 billion by 2030, growing at a CAGR of 19.5% through 2030.
PCM is also known as phase change material. These are materials whose phase shift is mostly used for storing and releasing heat, from solid to liquid and liquid to solid. In PCMs, energy is saved at a later time for use. A phase change material (PCM) is a product that at phase transition, releases/absorbs enough energy to provide usable heat/cooling. The transformation from one of the first two basic states of matter - solid and liquid - to the other would usually take place. There can also be a phase transition between non-classical states of matter, such as crystal conformity, where the substance goes from conforming to one crystalline structure to conforming to another, which may have a higher or lower state of energy. In several specific commercial applications where energy storage and/or stable temperatures are needed, phase change materials are used, including, among others, heating pads, cooling for telephone switching boxes, and others.
There are many types of materials for phase transition. A collective term for a range of materials such as paraffins, salt hydrates and fatty acids is phase change materials. Many of these PCM products have their own benefits and drawbacks. For instance, so-called eutectic liquids are used for the cooling of deep-frozen applications. One of the major market development factors is driven by the elimination of greenhouse gas pollution legislation and the use of PCMs for climate control and greater comfort. Furthermore, another aspect driving its production is the use of PCM for peak-load shifting. Due to the scope of application in the textile industry due to temperature-balancing properties, the industry is expected to expand. Furthermore, it is also expected that continuous investments by companies in the technical development of micro and macro encapsulation for advanced phase shift content will accelerate the growth of the industry.
Europe dominates the market for Phase Change Materials
In terms of value and volume, Europe is projected to account for the largest market share of phase change materials during the forecast period. This is due to the increased demand for phase change materials in the area in applications such as cold chain & packaging and building & construction. In addition, the existence of strict greenhouse gas emission reduction (GHG) regulations is another factor contributing to its development.
Phase Change Materials Market Value Share Analysis, by Geography (2021)
The report titled “Phase Change Materials Market- Global Market Share, Trends, Analysis and Forecasts, 2022-2032” wherein 2020 is historic period, 2021 is the base year, and 2022 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global phase change materials market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the global phase change materials market.
Global phase change materials market is segmented into product type, encapsulation technology and end-user industry. On the basis of product type, the market is segmented into organic, inorganic and bio-based. Based on encapsulation technology, the market is segmented into macro, micro and molecular. On the basis of end-user industry, the market is segmented into building and construction, packaging, textiles, electronics, transportation and others.
Based on geography, the global phase change materials market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, South Korea, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global Phase Change Materials market with a focus on all operating business segment and would identify and analyze the segment of the company focusing on phase change materials. Further, market share of prominent companies in the global Phase Change Materials market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, SWOT analysis, and research and development focusing on the Phase Change Materials manufacturing companies. The global Phase Change Materials market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products and innovations regarding phase change materials segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new innovations and patent filing information and geographic expansion in the global phase change materials market.
Major players active in the global phase change materials market include Advansa B.V., BASF, CryopakInc, Dupont, Outlast Technologies LLC, Royal Dutch Shell, Rubitherm Technologies GmbH. BASF and DuPont. Some of the other players in the value chain are Other players in the value chain (not profiled in the report) include Phase Change Materials Products Ltd., Rubitherm Technologies GmbH, C Climator Sweden AB, Ewald Dorken AG, Laird PLC, iat Group, Datum Phase Change Ltd., Emco Klimatechnik Gmbh & Co. KG, Rgees LLC., among others.
Segmentation:
By Product Type
By Encapsulation Technology
By End-user Industry
By Geography
The global xxx market is estimated to surpass US$ 10.3 Billion by 2030.
The global market for phase change materials will most likely expand at over 19.5% CAGR through 2030.
One of the major market development factors is driven by the elimination of greenhouse gas pollution legislation and the use of PCMs for climate control and greater comfort.
The Europe is projected to account for the largest market share of phase change materials during the forecast period. This is due to the increased demand for phase change materials in the area in applications such as cold chain & packaging and building & construction.
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