Phase Change Material Market size was valued at USD 1711.52 Mn. in 2022 and the total Phase Change Material revenue is expected to grow at 15.8% from 2023 to 2029, reaching nearly USD 4779.06 Mn.
Phase Change Material Market Overview:
This study categorises the Phase Change Material market in order to anticipate revenues and analyse trends in each of the sub-markets listed below.
The Competition Strategic Window investigates the competition landscape in terms of markets, applications, and geographies to help the vendor define an alignment or fit between their strengths and future growth possibilities.
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Phase Change Material Market Scope:
The Phase Change Material Industry research provides readers with a more in-depth insight of the market and competitive landscape, helping them to make better decisions on market growth and expansion. The study includes a participant summary, revenue figures, capital investment, and worldwide Phase Change Material market growth rates.
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.
1. Phase Change Material Market Size and Forecast, by Type (2022-2029)
1.1. Inorganic
1.2. Organic
2. Phase Change Material Market Size and Forecast, by Application (2022-2029)
2.1. HVAC
2.2. Cold Chain & Packaging
2. Thermal Energy Storage
2.4. Electronics
2.5. Textile
2.6. Building & Construction
2.7. Refrigeration & Equipment
2.8. Others
Phase Change Material Market Size and Forecast, by Form (2022-2029)
1. Encapsulated
2. Non-Encapsulated
4. Phase Change Material Market Size and Forecast, by Encapsulation Technology (2022-2029)
4.1. Macro
4.2. Micro
4. Molecular
5. Phase Change Material Market Size and Forecast, by Region (2022-2029)
5.1. North America
5.2. Europe
5. Asia Pacific
5.4. Middle East and Africa
5.5. South America
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Phase Change Material Market Key Players: The key players are
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.
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Phase Change Material Market Regional Analysis:
The Phase Change Material market prediction research is created after a thorough examination of many geographical areas, including Asia-Pacific, Europe, North America, and the rest of the globe. North America has the greatest power over the Phase Change Material market share and will continue to be a major shareholder in the global Phase Change Material market.
COVID-19 Impact Analysis on Phase Change Material Market: The COVID-19 impact on the Phase Change Material market is also included in the report
Key Questions Answered in the Phase Change Material Market Report are:
- What will be the CAGR of the Phase Change Material market during the forecast period?
- Which segment emerged as the leading segment in the Phase Change Material market?
- Which are the prominent players in the Phase Change Material market?
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