Advanced Phase Change Materials Market By Type (Organic, In-Organic and Bio-Based), By Application (Building & Construction, HVAC, Energy Storage, Shipping & Transportation, Textiles, Electronics and Other Applications), By Geography (North America, Asia-Pacific, Europe, South America and RoW), Industry Trends, Estimation & Forecast, 2017 – 2025
Advanced Phase Change Materials Market is expected to grow with a CAGR of XX% during the forecast period of 2018 to 2025.
Phase change materials (PCMs) are used to store thermal energy that enables the temporary storage of low or high-temperature energy for later use. PCMs are also used to store latent heat (energy released or absorbed by a material at constant-temperature process) during the phase transition process. This latent heat transition can be achieved with solid-liquid, solid-solid, solid-gas and liquid-gas phase change. Although, an only solid-liquid phase change is used in advanced PCMs at the commercial level since other procedures need high pressure and large volume to carry out. During the energy conversion procedure, these materials can be converted from solid to liquid or liquid to solid based upon their application. This makes them ideal for a diverse range of end-uses which involve temperature control.
The rising level of construction and urbanization in the developing countries and surge in the demand for biodegradable materials are the primary factors driving the growth of the global advanced PCM market. According to the United States Environmental Protection Agency study, around 20% of the global greenhouse emissions are released by transportation and buildings sector. This, in turn, escalates awareness towards reducing greenhouse gas emissions which also contributes to the growth of the global market. However, lack of government inventiveness and the high cost of advanced PCM is expected to hinder the market growth. Moreover, expansion in the application of advanced PCMs in the textile sector, packaging, HVAC, electronics, and refrigeration is likely to gain significant impetus over the forthcoming years. During air transportation, a major concern is the unwanted warming of food when packages are exposed to warm temperatures on airport tarmacs and momentary unrefrigerated storage. To solve this issue, phase change materials (PCMs) can preserve package temperature by changing their phase from solid to liquid or vice versa, to absorb or release latent heat. Hence the PCMs will attain a significant growth in the coming future, owing to its growing demand in the transportation industry.
Type, application, and geography are the segments considered in the global advanced phase change materials market. The type segment is further sub-segmented into organic PCM, inorganic PCM, and bio-based PCM. Among these, bio-based PCMs are expected to exhibit the highest growth in the forecast period 2017 – 2025. On the basis of the application segment, the categorization is given as building & construction, HVAC, energy storage, shipping & transportation, textiles, electronics, and other applications. Building & construction application held the major share of the market and is likely to continue its trend over the forecast period, owing to the rising awareness for energy conservation. Furthermore, geographical coverage has been provided for each of the major regions including North America, Europe, Asia-Pacific, South America and Rest of the World.
Market Players and Competitive Analysis
The report presents a detailed analysis of major players operating in the global advanced phase change materials market. Few of them include Advansa B.V, BASF SE, Ciat Group, Cryopak Inc., Datum Phase Change Ltd., E. I. Du Pont De Nemours And Company, Emco Klimatechnik Gmbh & Co. KG, Ewald Dörken AG, Honeywell Electronic Materials Inc., Laird PLC, Micron Technology Inc., Outlast Technologies LLC, PCM Energy P. Ltd, Phase Change Energy Solutions Inc., and Phase Change Material Products Limited.
Biobased PCM is one of the key trends in the market which would propel the market growth in the coming years. Companies are investing funds to develop new bio-based PCM to increase their competitiveness in the market. For instance, in the year 2018, Phase Change Energy Solutions Inc. deployed bio-based PCM to test at a new school in Arizona.
Advanced Phase Change Materials Market Segmentation
- Building & Construction
- Energy Storage
- Shipping & Transportation
- Other Applications
- North America
- Rest of Europe
- Rest of APAC
- South America
- Rest of South America
- Rest of the World
- Middle East
Table of Content
Advanced Phase Change Materials Market Key Players
- Advansa B.V
- BASF SE
- Ciat Group
- Cryopak Inc.
- Datum Phase Change Ltd.
- I. Du Pont De Nemours And Company
- Emco Klimatechnik Gmbh & Co. KG
- Ewald Dörken AG
- Honeywell Electronic Materials Inc.
- Laird PLC
- Micron Technology Inc.
- Outlast Technologies LLC
- PCM Energy P. Ltd
- Phase Change Energy Solutions Inc.
- Phase Change Material Products Limited
What Information does this report contain?
• What was the market size of the Advanced Phase Change Materials Market in 2017 and the expected market size by 2025, along with the growth rate?
• An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
• Which are the largest revenue generating products, services or regions and their comparative growth rate?
• Which technology is in trend and how would it evolve during the forecast period (2017 – 2025)?
• Which are the leading companies in the Advanced Phase Change Materials Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?