Phase Change Materials Market Size is projected to reach USD 8.92 billion by 2030, growing at a CAGR of 17.48%: Straits Research

New York, United States, July 28, 2022 (GLOBE NEWSWIRE) -- Phase change materials (PCMs) are substances that, absorb or release substantial amounts of heat that is referred to as "latent" heat. These materials are classified as "phase change materials. PCMs are widely used in the medical sector to convey temperature-sensitive pharmaceuticals, blood, immunizations, and operating tables, as well as to treat birth asphyxia, drug delivery, and hot-cold therapy.

Phase change materials are substances that have a high ability to store large amounts of energy and subsequently release that energy in the form of latent heat during the phase transition process. When the physical state of a material changes, even though the temperature remains constant, energy radiation is created. The goal is to take use of the latent heat. If there is an energy shortage, it is critical to make optimal use of the existing energy supply. The terms "latent heat storage" and "phase change material" refer to the same thing.

At specific temperatures, phase-changing materials may absorb and release heat by dissolving and solidifying, respectively. A phase change material's naturally existing latent heat is useful for managing the temperature of a structure and preventing unexpected changes in the environment. Changes in the surrounding environment's temperature can recharge phase change material, making it suitable for use in everyday applications. One factor driving development in the market for phase change materials is the tightening of legislation aimed at reducing greenhouse gas emissions. The market for phase change materials may be segmented by type (organic vs. inorganic) and application (HVAC, cold chain & packaging, textile, electronics, thermal energy storage, refrigeration & equipment, and others).

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Increasing PCM Use in Building Materials to Meet Growing Demand

In construction systems, examples of bulk usage include wallboards and integrating the material into a matrix of concrete or mortar.

The inclusion of building materials into passive building systems to modify the thermal properties of those components. Combining building components with PCMs is the most effective approach for increasing the thermal energy storage capacity of building components. Combining a variety of components, including wallboards, doors, roofs, concrete, and others, improves the thermal efficiency of the construction. In residential contexts, the inside of the building envelope is by far the most common place for the installation of PCMs. Consequently, the increasing usage of the product within the structure's interior enables the space to absorb and release heat at any moment, which is a big advantage.

Plasterboards and wallboards are two types of suitable materials that may be incorporated with phase change materials. Widespread and affordable, they are great for decreasing the amount of internal air temperature fluctuations that may occur in construction applications, particularly in lightweight structures.

In certain instances, polychlorinated biphenyls (PCMs) have been incorporated into the concrete layer under the floor. Their panels were also employed as an overlay for the newly built floor. By putting it into a floor, advantageous results can be achieved. This is because considerable amounts of energy are frequently lost via the floor due to heat transfer to the ground.

Report Scope

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PCMs Is In High Demand for Medicine Delivery, Immunisation, and Medical Transportation

PCMs are bio-based materials like fatty acids or oils that are used as a shell material for drug administration. These materials are referred to as "passive carrier materials." Because they do not require an engine or fuel, phase change materials are ideal for use in the delivery of vaccinations because they are renewable and reusable. Research in biotechnology has been concentrated on developing temperature-release methods for dispensing medications. One method that has shown to be effective in establishing temperature-released drug administration is to employ PCM in the role of a "cork."

The Creation of Novel Treatments and a Rise in the Quantity of Clinical Trials

The development of innovative treatments and medicines has led to an increase in the quantity of clinical studies being conducted. The logistics of a cold chain are necessary to preserve the integrity of clinical trial materials such pharmaceuticals, blood samples, tissue samples, urine samples, and sputum samples, among other types of samples. In addition, the COVID-19 vaccine candidates that show the most promise have been labelled as "cold chain" goods, which means that they require certain storage and transportation conditions once they have been removed from the manufacturer's facility. The market will present chances for participants already active in the industry due to the requirement storage logistics for the cold chain and distribution of vaccines and treatments of this kind.

Regional Overview of Advanced Phase Change Materials

European markets currently dominate the worldwide phase change materials (PCM) business, followed by North America, thanks to technological advancements. Several firms are focused on and investing in research and development for a range of innovative applications as the sector consolidates. A non-profit organisation based in Germany is working with a variety of businesses to develop the global phase transition materials industry.

Because of its well-developed large manufacturing sector, the European market for phase change materials is experiencing a surge in demand from key end-users such as healthcare, aerospace, automotive, and others. Germany, as the leading manufacturer and exporter of phase change materials, is contributing significantly to market growth, helping Europe to maintain its lead in the sector. As a consequence, the business intends to gain a large market share in phase transition materials in the next years. In the coming years, the European market for phase change materials will remain steady. North America, China, Japan, Australia, Southern Europe, and India all experience summer at its peak due to their weather conditions. As a result, air conditioners and other cooling machines are frequently used in these places. Consumption of phase transition material-based goods is likely to increase in several sectors.

Key highlights

• The global phase change materials market was estimated to be worth $1.78 billion in 2021, and it is expected to reach $8.92 billion by 2030, expanding at a CAGR of 17.48% from 2021 to 2030.
• The market for advanced phase change materials is divided into three segments type, form, application, and region.
• Organic PCM, inorganic PCM, and biobased PCM are the three segments based on type for the PCM market. Organic PCM now dominates the market.
• Based on form the market has been divided into two types: encapsulated and non-encapsulated. Encapsulated PCM now dominates the market.
• The market has been divided into applications such as building and construction, packaging, HVAC, textiles, electronics, and others. Building and construction currently dominate the market.
• The market is examined geographically throughout North America, Europe, Asia-Pacific, and Latin America. European markets now dominate the global phase change materials (PCM) industry, followed by North America. As the industry consolidates, several businesses are focusing on and investing in research and development for a variety of creative applications.

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Some of the Major Key Players Covered In Global Phase Change Materials Market Report Are Given Below

• Axiotherm GmbH
• Croda Europe Ltd.
• Global Energy Systems Europe BV
• Hangzhou Ruhr New Material Technology Co., Ltd. (‘RuhrTech’)
• Microtek Laboratories, Inc.
• PCM Technology
• Outlast Technologies
• PLUSS Advanced Technologies Pvt. Ltd.
• Phase change product Pvt. Ltd.
• PureTemp LLC
• Rubitherm technologies gmbh
• Sasol Germany GmbH

Phase Change Materials Market Segmentation

Breakup by Type:

• Organic PCM
• Inorganic PCM
• Bio-Based PCM

Breakup by Form:

• Encapsulated
• Non-Encapsulated

Breakup by Application:

• Building and Construction
• Packaging
• HVAC
• Textiles
• Electronics
• Others

Regional Insights:

• Europe
• North America
• Asia Pacific
• Middle East and Africa
• Latin America

TABLE OF CONTENT

1. Introduction
   1. Market Definition
   2. Market Scope
2. Research Methodology
   1. Primary Research
   2. Research Methodology
   3. Assumptions & Exclusions
   4. Secondary Data Sources
3. Market Overview
   1. Report Segmentation & Scope
   2. Value Chain Analysis: Phase Change Materials Market
   3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
   4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
   5. Market Share Analysis
4. Type Overview
   1. Introduction
      1. Market Size & Forecast
   2. Organic PCM
      1. Market Size & Forecast
   3. Inorganic PCM
      1. Market Size & Forecast
5. Form Overview
   1. Introduction
      1. Market Size & Forecast
   2. Encapsulated
      1. Market Size & Forecast
   3. Non-Encapsulated
      1. Market Size & Forecast
6. Regional Overview
   1. Introduction
      1. Market Size & Forecast
   2. America
      1. North America
      2. U.S.
         1. By Type
         2. By Form
      3. Canada
         1. By Type
         2. By Form
      4. Mexico
         1. By Type
         2. By Form
      5. Latin America
         1. By Type
         2. By Form
   3. Europe
      1. Market Size & Forecast
      2. Germany
         1. By Type
         2. By Form
      3. France
         1. By Type
         2. By Form
      4. U.K.
         1. By Type
         2. By Form
      5. Italy
         1. By Type
         2. By Form
      6. Spain
         1. By Type
         2. By Form
      7. Rest of Europe
         1. By Type
         2. By Form
   4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
         1. By Type
         2. By Form
      3. China
         1. By Type
         2. By Form
      4. Australia
         1. By Type
         2. By Form
      5. India
         1. By Type
         2. By Form
      6. South Korea
         1. By Type
         2. By Form
      7. Rest of Asia-Pacific
         1. By Type
         2. By Form
   5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
         1. By Type
         2. By Form
      3. South Africa
         1. By Type
         2. By Form
      4. Kuwait
         1. By Type
         2. By Form
      5. Rest of Middle East & Africa
         1. By Type
         2. By Form
7. Company Profile
   1. Axiotherm GmbH
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   2. Croda Europe Ltd
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
   3. Global Energy Systems Europe BV
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
8. Conclusion & Recommendation
9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/phase-change-materials-market/toc 

Recent Developments

To maintain the market, several of the key companies in the global phase change materials market have used organic growth strategies such as new launches. Rubitherm technologies gmbh, a prominent participant, has introduced PhaseCube, a phase change material-based device. During the day, the PhaseCube may bring outside air into the interior. Warm air entering the room is cooled utilising cold stored over night throughout this procedure.

Temperatures of more than 30 degrees have been claimed to be decreased to 23 degrees. PureTemp LLC has also introduced a temperature-control coating for textiles that may be used in workwear, footwear, safety equipment, beddings, and other industrial applications to reduce ambient temperature fluctuations.

News Media

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