Global Advanced Phase Change Materials Market
Global Advanced Phase Change Materials Market was valued US$ Mn in 2018 and is expected to reach US$ Mn by 2026, at a CAGR of 19.5 % during a forecast period.
The advanced phase change materials have the capability to store concealed heat emitted during characteristic phase transitions. They are widely used to enhance the heat storage capacity of buildings and in power distribution and generation systems. They are also integrated for cooling electrical engines, foods and drinks, and maintaining high temperatures in greenhouses.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
An increase in awareness towards reducing greenhouse gas emissions, stringent building codes across the developed regions and demand for renewable sources of energy are some of the prominent drivers behind the growth of the global advanced phase change materials market. Additionally, The rise in the adoption of advanced phase change materials in an array of applications like packaging, HVAC, refrigeration, electronics, textiles is expected to boost the growth in the global advanced phase change materials market.
On the other hand, the high cost of advanced PCM and the lack of awareness regarding the usage of phase change materials among the consumers are expected to limit the growth of the global advanced phase change materials market. The Building & construction held the US$ Mn share in the global advanced phase change materials market. The demand for advanced phase change materials is increasing because of its usage in residential and commercial infrastructure. The advanced phase change materials have a key role in the construction industry, which is more preferred for saving energy and enable the clean and green future of the construction industry. An introduction to the strict regulations for energy-efficient construction in developed countries across the globe is expected to increase the demand for phase change materials.
Region-wise, the Europe region is estimated to hold the dominant position in the global advanced phase change materials market. The dominant position in the market is attributed to the presence of stringent building energy codes, which are mandated by the European Union Directives. The strict regulations are accompanied by Union to enhance the efficiency in buildings and regulate the usage and handling of temperature-sensitive goods drives, which is expected to increase the demand for advanced phase change materials in the region. Additionally, an increase in the implementation of energy-efficient technologies and practices are expected to boost the growth in the advanced phase change materials market.
Many emerging and leading key players are introducing extensive and innovative solutions with a move to merge their shares in numerous regions. The market players are primarily focused on developing new technologies to meet the requirements of users. Various companies are also involved in numerous mergers & acquisitions as their essential strategy is to maintain sufficient market share. These factors are expected to have a positive impact on industry growth over the next few years.
The Scope of the Report for Global Advanced Phase Change Materials Market
Global Advanced Phase Change Materials Market, By Product
• Salt Hydrates
• Others (Bio- APCM)
Global Advanced Phase Change Materials Market, By Application
• Building and construction
• Commercial refrigeration
• Energy storage
• Shipping and transportation
• Others (Textiles, Protective clothing)
Global Advanced Phase Change Materials Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Advanced Phase Change Materials Market
• Pluss Advanced Technologies Pvt. Ltd.
• BASF SE
• Entropy Solutions LLC
• Sonoco Products Company
• Outlast Technologies LLC
• Microtek Laboratories, Inc.
• Advansa B.V.
• Cold Chain Technologies, Inc.
• Coolcomposites, Inc.
• Ciat Group
• Ai Technology, Inc.
• Insolcorp, Inc
• E. I. Du Pont De Nemours And Company
• Phase Change Energy Solutions
• Climator Sweden AB
• Pluss Advanced Technologies Pvt. Ltd.
• Cryopak Inc.
• Honeywell Electronic Materials, Inc.
• Laird PLC.
• Sasol Limited
• Rubitherm Technologies GmbH
• Croda International PLC.
• Henkel AG & Company, KGaA