Advanced Phase Change Materials Market Share, Size, Trends, Growth, Regional Analysis & Outlook 2024

Global Advanced Phase Change Materials Market Research Report, Share and Forecast Till 2024

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Report Description and Highlights

Report Description

Advanced Phase Change Materials Market Report By Type (Organic PCM, Inorganic PCM and BioBased PCM), Application (Building & Construction, Packaging, HVAC, Textiles, Electronics and Others), Form, Region The global advanced phase change materials market has witnessed a positive growth in recent years.

This can be attributed to a number of factors which include the capability of PCMs to conserve energy, rising construction activities across the globe and a shift towards the utilization of biodegradable PCMs. Market Overview: According to the latest report by IMARC Group, titled “Advanced Phase Change Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global advanced phase change materials market reached a value of US$ 1,055 Million in 2018. Phase change materials (PCMs) refer to substances used for storing and releasing large amounts of energy generated in a thermodynamic system. When a PCM freezes, it releases energy in the form of latent heat at a relatively constant temperature, whereas, it absorbs a large amount of heat from the environment when it melts. These changes can take place in any combination of three phases of a substance including liquid, solid or gas. Amongst these, the transition between solid and liquid phases in advanced PCMs is considered to be the most viable commercially. At present, there are three main types of advanced PCMs available in the market, namely salt hydrates, paraffin wax, and other fatty-acid-based phase change materials.

Report Description and Highlights

Report Description Market Trends:

Advanced PCMs help in conserving energy, especially in applications like building and construction and HVAC, owing to which they are increasingly being used in commercial buildings for saving energy. The increasing utilization of microencapsulation technologies in the construction and textile sectors is also influencing the growth of the advanced PCM market. Apart from this, the manufacturers are rapidly shifting from traditional petroleum-based PCMs towards biodegradable, bio-based PCMs which is further providing a thrust to the escalating demand for advanced PCMs. However, the expensive nature of PCMs, as well as the lack of awareness among the consumers regarding the benefits offered by them, is currently hindering the growth of the market. Looking forward, the market value is projected to reach US$ 2,736 Million by 2024, expanding at a CAGR of 17% during 2019-2024.

Advanced Phase Change Materials Market Segmentation: Market Segmentation by Product Type o Organic PCM Request for a sample report: https://www.imarcgroup.com/advanced-phase-change-materials-market/requestsample

Market Forecast

Sample Figure: Global: Advanced Phase Change Materials Market Forecast: Sales Value (in Million US$), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description o Inorganic PCM o Bio-Based PCM

The advanced PCM market has been analyzed on the basis of types which include organic PCM, inorganic PCM and bio-based PCM. Amongst these, organic PCM is the most common type of advanced PCMs. Market Segmentation by Application • • • • • •

Building and Construction Packaging HVAC Textiles Electronics Others

Based on the various applications of advanced PCMs, the market has been segregated into building and construction, packaging, HVAC, textiles, electronics and others.

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Market Segmentation

Report Description Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

On a regional basis, Europe represents the largest market for advanced PCMs, holding the majority of the market share. This is the result of increasing emphasis on energy security along with a growth in the construction industry across the region. Europe is followed by North America, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • •

BASF Cryopak Entropy Solutions

Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

Report Description • • • • • • • • • • •

Honeywell International Outlast Technologies Climator Croda International PCM Products Phase Change Energy Solutions PLUSS Advanced Technologies RGEES Rubitherm Technologies Salca SGL Group

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Report Description and Highlights

Report Description

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