Global Phase Change Material Market: size was valued at USD 478 Mn. in 2021 and the total Phase Change Material revenue is expected to grow at 15.8% from 2022 to 2029, reaching nearly USD 1545.6 Mn.
Global Phase Change Material Market Overview: The Global Phase Change Material Market research provides a full competition picture, including the market share and company profiles of the major players in the worldwide industry. The scope of the research covers a complete examination of the Global Phase Change Material Market, as well as the causes for variances in the industry’s growth in different areas.
Global Phase Change Material Market Dynamic:
The rising usage of phase change material for temperature regulation is one of the primary drivers for the phase change material market. The use of phase change material in buildings provides room temperature management. Variations in the day and nighttime temperatures are utilized to alter the phase of the material, which releases and absorbs energy during the process. The use of phase change material for temperature management minimizes the strain on the heating and cooling equipment needed to maintain room temperature.
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Market Scope: To locate and collect material appropriate for this study, this research study makes considerable use of secondary sources, directories, and databases such as annual reports, press releases, journals, corporate websites, and databases.
This Global Phase Change Material market report covers new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographies, and product approvals, product launches. To learn more about Maximize Market Research Global Phase Change Material market, please contact us for an Analyst Brief; our experts will assist you in making an informed market choice to achieve your goals.
Global Phase Change Material Market Segmentation:
By Type, the Inorganic segment dominated the Phase Change Material (PCM) market with the highest market share in 2021 and is expected to maintain its dominance at the end of the forecast period. Inorganic PCMs have a relatively high heat of fusion, strong thermal conductivity, are inexpensive, and are non-flammable. Most of them, however, is corrosive to most metals, suffer supercooling, and phase breakdown. Hydrated salts are the most frequent inorganic PCMs and hence drive segment growth.
Hydrated salts are attractive substances for thermal energy storage due to their high storage density of around 240 kJ/kg, the comparatively good thermal conductivity of approximately 0.5 W/ (mK), and low cost when compared to paraffin waxes. Glauber’s salt, or Na2SO4H2O, is well recognized as one of the cheapest materials for thermal energy storage, with a melting temperature between 32 and 35°C and high latent heat of 254 kJ/kg, although its uses are restricted due to supercooling and phase segregation.
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Global Phase Change Material Market Key Players:
• Cold Chain Technologies, Inc.
• Croda International Plc.
• Microtek Laboratories Inc.
• Sasol Limited
• PureTemp LLC.
• Henkel AG & Company KGAA
• Outlast Technologies LLC.
• Advansa B.V.
• AI Technology Inc.
• Climator Sweden AB
• Ciat Group
• Honeywell Electronic Materials, Inc.
• Phase Change Materials Products Ltd.
• Rubitherm Technologies GmbH
• Teappcm
• BASF SE
• SGL Group
• Salca BV
• Rubitherm Technologies GmbH
• Pluss Advanced Technologies Pvt. Ltd.
• RGEES, LLC.
• Outlast Technologies LLC.
The entire approach involves a review of the financial reports of the major market participants. Following the determination of the overall market size, the complete market was divided into many segments and sub-segments and checked with key industry professionals such as CEOs, VPs, directors, and marketing executives. The major players in the Global Phase Change Material market are
Regional Analysis: The region portion of the Global Phase Change Material market study also includes individual market affecting elements and changes in legislation in the market that affect present and future market trends. Current and future trends are discussed in order to estimate the entire market potential and to highlight profitable trends in order to obtain a firmer footing. The geographic market assessment is based on the existing scenario and predicted developments.
COVID-19 Impact Analysis on Global Phase Change Material Market:
Following the outbreak of the pandemic, end-user sectors where Global Phase Change Material are used had a fall in growth from January to May in a variety of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a suspension in operations. This resulted in a major decrease in the revenues of firms operating in these industries and, as a consequence, in demand for Global Phase Change Material manufacturers, influencing the growth of the Global Phase Change Material market in 2020. With lockdowns and a rising number of COVID-19 cases throughout the world, the demand for Global Phase Change Material from end-user businesses has decreased significantly.
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Key Questions Answered in the Global Phase Change Material Market Report are:
- Which are the major companies in the Global Phase Change Material market?
- Which is the potential market for Global Phase Change Material in terms of the region?
- What are the opportunities for new market entrants?
- What is expected to drive the growth of the market in the next seven years?
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