Phase Change Material Market size was valued at USD 1981.94 Mn. in 2023 and the total Phase Change Material revenue is expected to grow at 15.8% from 2024 to 2030, reaching nearly USD 5534.14 Mn.
Phase Change Material Market Overview:
The purpose of this research is to offer an overview of the Phase Change Material industry as well as thorough market segmentation by segments and geographies. The study includes vital information on the market positions of the top Phase Change Material organizations, as well as major industry trends and possibilities.
The study also focuses on the major industry players in the Global Phase Change Material market, including information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information. This research looks into global, regional, and company market trends, volume, and value. This study examines the whole Phase Change Material Market Size from a worldwide viewpoint, evaluating historical data and making projections.
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Phase Change Material Market Scope:
Following the completion of market engineering, which included calculations for market statistics, market size estimations, market projections, market breakdown, and data triangulation, extensive primary research was conducted to gather information and verify and validate key figures. Both top-down and bottom-up approaches, as well as numerous data triangulation methods, were widely used throughout the market engineering process to achieve market estimation and forecasts for the overall market segments and sub-segments offered in the Phase Change Material market study. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all statistics gathered during the whole market engineering process.
Top-down and bottom-up approaches are used to validate the market size and estimate the market size by different segments. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are computed using weights assigned to each segment based on usage rate and average sale price. To determine the country-wise splits of the overall market and its sub-segments, the percentage adoption or usage of the given market Size in the relevant area or nation is employed.
Phase Change Material Market Segmentation:
Phase Change Material (PCM) market share by type was led by the Inorganic segment in 2021 and is predicted to remain dominant by the end of the forecast period. Inorganic PCMs are non-flammable, inexpensive, and possess a strong thermal conductivity and relatively high heat of fusion. Nonetheless, the majority of them experience phase breakdown, supercooling, and corrosion to most metals. Since hydrated salts are the most prevalent inorganic PCMs, the segment is growing as a result.
Because of their low cost compared to paraffin waxes, high storage density of about 240 kJ/kg, and relatively good thermal conductivity of about 0.5 W/(mK), hydrated salts are appealing materials for thermal energy storage. With a melting temperature of between 32 and 35°C and a high latent heat of 254 kJ/kg, Glauber’s salt, or Na2SO4H2O, is widely known as one of the least expensive materials for thermal energy storage. However, because of supercooling and phase segregation, its applications are limited.
Over the course of the forecast period, the organic segment is anticipated to grow at a significant rate. In general, organic phase change materials have a high latent heat of fusion, are non-toxic, non-corrosive, and do not supercool. It is divided into two categories: paraffin and non-paraffin. The market is growing because commercial paraffin waxes are affordable and have a decent thermal storage density of between 120 and 210 kJ/kg.
Paraffins exhibit a high volume change during the phase transition and a low heat conductivity, which restricts their application. Before paraffin PCMs can be used in buildings, these issues must be resolved. Metallic fillers and matrix structures are used to increase heat conductivity, while plastic containers and various container geometries are used to counteract volume change during melting and freezing.
Alcohols, glycols, fatty acids, and esters are among the many organic compounds that make up non-paraffin organics. They are about three times more expensive than paraffin, but generally have good melting and freezing properties. Because of their high latent heat of fusion, minimal volume changes during phase transition, low melting temperatures, and lack of supercooling after freezing, the fatty acids, also known as palmitoleic acids, are particularly significant in this category.
𝗚𝗲𝘁 𝘁𝗵𝗲 𝗣𝗗𝗙 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗿𝗲𝗽𝗼𝗿𝘁
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Phase Change Material Market Key Players:
Acquisitions, partnerships, and collaborations were among the inorganic growth strategies mentioned in the industry. Industry participants in the Phase Change Material market are expected to profit from strong future growth possibilities due to rising demand. The following are a few firms involved in the global Phase Change Material industry.
1. Cold Chain Technologies, Inc.
2. Croda International Plc.
3. Microtek Laboratories Inc.
4. Sasol Limited
5. PureTemp LLC.
6. Henkel AG & Company KGAA
7. Outlast Technologies LLC.
8. Advansa B.V.
9. AI Technology Inc.
10.Climator Sweden AB
11.Ciat Group
12.Honeywell Electronic Materials, Inc.
13.Phase Change Materials Products Ltd.
14.Rubitherm Technologies GmbH
15.Teappcm
16.BASF SE
17.SGL Group
18.Salca BV
19.Rubitherm Technologies GmbH
20.Pluss Advanced Technologies Pvt. Ltd.
21.RGEES, LLC.
22.Outlast Technologies LLC.
𝗚𝗲𝘁 𝘁𝗵𝗲 𝗣𝗗𝗙 𝗦𝗮𝗺𝗽𝗹𝗲 𝗖𝗼𝗽𝘆 𝗼𝗳 𝘁𝗵𝗶𝘀 𝗿𝗲𝗽𝗼𝗿𝘁
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Phase Change Material Market Regional Analysis:
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, Africa, and South America, after examining the political, economic, social, and technological variables influencing the Phase Change Material market in these regions.
COVID-19 Impact Analysis on Phase Change Material Market:
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19’s impact on the Phase Change Material market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Phase Change Material Market Report are:
- What will be the Phase Change Material market’s CAGR throughout the projected period?
- Which market category emerged as the market leader in the Phase Change Material industry?
- Who are the key players in the Phase Change Material market?
- How big will the Phase Change Material market be in 2027?
- Which firm had the biggest market share in the Phase Change Material industry?
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