Advanced Phase Change Materials Market valuation will reach USD 5,814.3 million by the end of 2027
The Global Advanced Phase Change
Materials market held USD 1,407.5 million in 2018 and is predicted to reach USD
5,814.3 million by 2027 with a CAGR of 19.51% from 2019-2027
Read Report Overview @
The global advanced phase change
materials market size was valued at significant revenue in the year 2018 and is
likely to project an esteemed share in coming years. Phase change materials
(PCM) are capable to change their state from solid to liquid and vice-versa.
These materials are for thermal energy storage to provide the temporary storage
of energy for the future use. The advanced phase change materials (APCMs) can
store as well as provide huge volume of thermal energy after the transition
from one state to another.
The growing energy consumption
needs has encouraged the adoption of substitute methods to provide thermal
energy. These APCMs can be used in active or passive form. These materials can
absorb the heat & transform to liquid state and can also discharge the
stored heat to get back in the solid state.
The technological advancements in
the APCMs has also increased their use in various sectors and majorly in
construction & building sector. Furthermore, the demand for the APCMs has
increased as they can provide high heat storage capacity as compared to other
conventional materials.
The stringent regulations for
minimizing greenhouse gas emissions, increasing use of advanced phase change
materials for temperature control & comfort, long operating life and energy
saving features are the key factors to drive the advanced phase change
materials market. The reduction in operating cost and temperature security has
further supplemented the market growth. However, the flammability issue,
corrosion, and lack of awareness may limit the growth the advanced phase change
materials market. The ongoing R&D to increase efficiency of advanced phase
change materials will create new opportunities for the market growth in future.
The advanced phase change
materials market is segmented on the basis of type, application, and geography.
On the basis of type, the advanced phase change materials market is segmented
into organic, inorganic, and bio-based. On the basis of application, the
advanced phase change materials market covers building & construction,
thermal energy storage, cold chain & packaging, HVAC, shipping &
transportation, electronics, textiles, and others. Geographic breakdown and
analysis of each of the aforesaid segments is included for the regions
including North America, Europe, Asia-Pacific, and ROW.
Europe is the fastest growing
region in the advanced phase change materials market. The strict building
energy codes to reduce and minimize emission of harmful gases, increasing
demand for green buildings, and demand for low-carbon & net-zero energy
buildings are factors to led the growth of European region.
Asia-Pacific region is
anticipated to grow with highest growth rate during the forecast period owing
to growing construction industry, rapid industrialization, and strong emphasis
on energy security.
Request to view Sample Report:
The advanced phase change
materials market share includes a comprehensive competitive analysis and
profiles of the major market players. Companies such as Croda International
Plc., Entropy Solutions LLC, Microtek Laboratories Inc., Honeywell Electronic
Materials, Inc., Laird Plc, Sasol Ltd., Pluss Technologies Pvt. Ltd., Phase
Change Materials Products Ltd., Outlast Technologies LLC, Phase Change Energy
Solutions Inc., Rubitherm Technologies GmbH, Henkel AG & Company, KGaA,
Advansa BV, AI Technology Inc., Climator Sweden AB, Cold Chain Technologies,
Inc., and among others are provided in the advanced phase change materials
market report.
Comments
Post a Comment