Insights on the Advanced Phase Change Materials Global Market to 2027 – Increasing Awareness Towards Reducing Greenhouse Gas Emissions Drives Growth – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Advanced Phase Change Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global advanced phase change materials market size reached US$ 1.3 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 2.6 Billion by 2027, exhibiting a CAGR of 12.25% during 2021-2027.
Companies Mentioned
- BASF SE
- Cryopak
- Entropy Solutions
- Honeywell International Inc.
- Outlast Technologies LLC
- Climator Sweden AB
- Croda International Plc
- Phase Change Material Products Limited
- Phase Change Energy Solutions
- Pluss Advanced Technologies Pvt. Ltd.
- RGEES LLC.
- Rubitherm Technologies GmbH
- Salca BV
- SGL Group
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
The advanced phase change materials market is currently being catalyzed by a rising demand for energy efficient and environment friendly technology. Based upon their unique structure, these materials have the ability to absorb, store and release energy during a phase transition.
During the energy conversion process, these materials can be converted from liquid to solid or solid to liquid based upon their application. This makes them ideal for a diverse range of end uses which require temperature control. The material, during the transition process, absorbs energy as it changes from a solid to a liquid and releases energy as it changes back to a solid.
Advanced PCMs are mainly segmented into organic PCMs, inorganic PCMs, bio-based PCMs and other PCMs, based on the technology of the material used in the application. Organic PCMs are additionally segmented as paraffin and non-paraffin materials, and inorganic PCMs are further categorized in metallic and salt hydrate. Bio-based APCMs are generally extracted from animal fat or plant oil and postures higher biodegradability over others.
The factors driving the demand for advanced phase change materials include an increasing awareness towards reducing greenhouse gas emissions, strict building codes and a rising demand for renewable sources of energy.
Additionally, the augmented demand for these materials from the building and construction industry is further fueling the growth of the market.
Moreover, due to the adoption of these materials across a diverse range of applications, such as packaging, HVAC, refrigeration, electronics, textiles, etc., the advanced phase change materials market is expected to register continuous growth in the near future.
Furthermore, factors such as a growing awareness for energy conservation, continued technological developments and rising levels of urbanization in developing countries are expected to be additional drivers for this market.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global advanced phase change materials market report, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on type, form and application.
Breakup by Type:
- Organic PCM
- Inorganic PCM
- Bio-Based PCM
Based on type, the market has been segmented as organic PCM, inorganic PCM and bio-based PCM. Currently, organic PCM dominate the market, holding the largest share.
Breakup by Form:
- Encapsulated
- Non-Encapsulated
Based on form, the market has been segmented as encapsulated and non-encapsulated. Currently, encapsulated PCM dominates the market, holding the largest share.
Breakup by Application:
- Building and Construction
- Packaging
- HVAC
- Textiles
- Electronics
- Others
On the basis of application, the market has been segmented as building and construction, packaging, HVAC, textiles, electronics and others. Currently, building and construction dominate the market, holding the largest share.
Regional Insights:
- Europe
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Region-wise, the market has been segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, Europe is the leading market, accounting for the majority of the market share.
Key Questions Answered in This Report:
- How has the global advanced phase change materials market performed so far and how will it perform in the coming years?
- What are the key regions in the global advanced phase change materials market?
- What has been the impact of COVID-19 on the global advanced phase change materials market?
- What are the major application segments in the global advanced phase change materials market?
- What are the major forms in the global advanced phase change materials market?
- What are the key product types in the global advanced phase change materials market?
- What are the price trends of advanced phase change materials?
- What are the various stages in the value chain of the global advanced phase change materials industry?
- What are the key driving factors and challenges in the global advanced phase change materials industry?
- What is the structure of the global advanced phase change materials industry and who are the key players?
- What is the degree of competition in the global advanced phase change materials market?
- How are advanced phase change materials manufactured?
For more information about this report visit https://www.researchandmarkets.com/r/5nwu0n
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