Phase Change Material Market size was valued at USD 1478 Mn. in 2021 and the total Phase Change Material revenue is expected to grow at 15.8% from 2022 to 2029, reaching nearly USD 4779.06 Mn.
Phase Change Material Market Overview:
The Phase Change Material market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Phase Change Material Market, as well as the reasons for variations in the industry’s growth between regions.
Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.
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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.
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
Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers’ annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.
The biggest players in the Phase Change Material market are as follows:
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Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Phase Change Material market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Phase Change Material Market:
Due to a break in operations, end-user sectors where Phase Change Material are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Phase Change Material manufacturers, impacting the growth of the Phase Change Material market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Phase Change Material.
Key Questions Answered in the Phase Change Material Market Report are:
- In 2021, which segment held the highest proportion of the Phase Change Material market?
- What is the Phase Change Material market’s competitive landscape?
- What are the primary drivers assisting Phase Change Material market growth?
- Which region has the most market share in the Phase Change Material market?
- What will be the Phase Change Material market’s CAGR throughout the projected period (2022-2027)?
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