Phase Change Materials Market is Projected to Reach US$ 1548.32 Million in 2028

The Phase Change Materials Market is expected to reach US$ 1548.32 Million in 2028, growing at a CAGR of 17.24% during 2022- 2028, reports Stratview Research.

Raipur, Nov. 18, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the Phase Change Materials Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

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How is the Report Helpful?

The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.

Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.

What are the Top Market Drivers?

According to the report, the Phase Change Materials market is driven by a host of factors, some of which are noted below:

  • Strong demand from end-use industries, such as building & construction, HVAC, cold chain & packaging, thermal energy storage, refrigeration & equipment, electronics, textiles, and others.
  • Phase change material holds the unique feature that it can store and release a large amount of energy/heat while maintaining a constant temperature and hence, is used to conserve energy, reduce operating costs, and provide temperature security.

The report also includes growth rate estimates based on the intensity of drivers and constraints and provides the users with several graphical illustrations of the key insights.

Phase Change Materials Market Segmentation:

Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.

  • By Type (Inorganic PCM, Organic PCM, and Bio-Based PCM)
  • By Application Type (Building & Construction, HVAC, Cold Chain & Packaging, Thermal Energy Storage, Refrigeration & Equipment, Electronics, Textiles, and Others)
  • By Encapsulation Technology Type (Macro, Micro, and Molecular)
  • By Region (North America, Europe, Asia-Pacific, and the Rest of the World)

Phase Change Materials Market Insights

Market Trends by Type

The Inorganic PCM is expected to lead the market during the forecast period.

The market is segmented as Inorganic PCM, Organic PCM, and Bio-based PCM. The Inorganic PCM segment is driven due to its good thermal conductivity, high latent heat of fusion, non-flammability, and low cost. Inorganic PCMs are extensively used in thermal energy storage, HVAC, cold chain & packaging, and refrigeration & equipment.

Market Trends by Application Type

The Building & Construction Segment is expected to remain the largest segment during the forecast period.

The PCM market is segmented as building & construction, HVAC, cold chain & packaging, thermal energy storage, refrigeration & equipment, electronics, textiles, and others. The Building & Construction segment is driven due to stringent regulations towards greenhouse gas emissions and increased investment in low-carbon buildings, especially in North America and Europe.

Which region offers the best opportunity and growth?

Europe is expected to remain the largest market for phase change materials during the forecast period.

Stringent regulation regarding the usage and handling of temperature-sensitive goods, implementation of strict building codes, and the European Union directives to improve efficiency in buildings are the major factors that have led to the dominance of Europe in the global PCM market.

COVID-19 Impact on the Phase Change Materials Market

COVID-19 has put an instant halt to many industries across the globe. Lockdown norms in several countries have swiftly affected the global economy by affecting the supply chain, production, and demand in the market. Both direct, as well as indirect impacts of the pandemic, have been incorporated in this report.

To know more about the covid-19 impact, get a free sample report, here:

Who are the Top Market Players?

After a thorough analysis of the market, the experts have listed a few key players and discussed the company profiles of the below-given players -

  • Honeywell Electronic Materials, Inc.
  • Laird PLC.
  • Sasol Limited
  • Croda International PLC.
  • Entropy Solutions LLC
  • Microtek Laboratories Inc.
  • Pluss Advanced Technologies Pvt. Ltd.
  • Phase Change Energy Solutions Inc.
  • Rubitherm Technologies GmbH
  • Phase Change Materials Products Ltd.
  • Outlast Technologies LLC.
  • Henkel AG & Company
  • KGaA
  • Cold Chain Technologies, Inc.

What deliverables will you get in this report?

  • In-depth analysis of the phase change materials market
  • Detailed market segmentation.
  • Competitive landscape analysis.
  • Historical, present, and future market size analysis.
  • Industry trends, technologies, and advancements.
  • Growth and operation strategies adopted by key players.
  • Potential segments/regions offering promising growth.
  • Geographical presence of the key players.

Related reports which might be useful:

  1. Microcrystalline Cellulose (MCC) Market

  1. Cast Acrylic Sheet Market

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