Pune, March 27, 2023 (GLOBE NEWSWIRE) -- Maximize Market research, the global Material & Chemical business intelligence firm has published a market intelligence report on “Phase Change Material Market”. The total global market for “Phase Change Material” was USD 1478 Mn in 2021 and is expected to grow at a CAGR of 15.8 percent over the forecast period to reach USD 4779.06 Mn by 2029.
Phase Change Material Market Overview
During the phase change, the substances that have a high capacity to store and release a large amount of in the form of latent heat are known as phase change materials. They are also known as latent heat storage units. The increasing clinical trials and the development of new therapies is expected to create lucrative opportunities during the forecast period.
Phase Change Material Market Report Scope and Research Methodology
| Market Size in 2021 | USD 1478 Mn. |
| Market Size in 2029 | USD 4779.06 Mn. |
| CAGR | 15.8 percent (2022-2029) |
| Forecast Period | 2022-2029 |
| Base Year | 2021 |
| Number of Pages | 272 |
| No. of Tables | 116 |
| No. of Charts and Figures | 113 |
| Segment Covered | Type and Application |
| Regional Scope | North America, Europe, Asia Pacific, Middle East and Africa, South America |
| Report Coverage | Market Share, Size & Forecast by Revenue | 2022−2029, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis. |
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The aim of the report is to provide an in-depth analysis of the Phase Change Material market including the current scenario and future market outlook of the Phase Change Material Industry. The report covers all the main aspects of the industry with a detailed analysis of the key players including market-leading companies, product distributors, raw materials suppliers and buyers. The report provides region-wise and segment-wise a detailed analysis of the Phase Change Material Market with drivers, opportunities, restraints and challenges in each region and segment.
The bottom-up approach was employed for estimating the Phase Change Material market size. To validate the findings of the report, primary research was conducted. Primary interviews helped in data validation and also provided critical insights into the Phase Change Material Market. Secondary research included a review of annual and financial reports of leading manufacturers in the market with government sites, databases of various organizations, industry journals and white papers. To provide the strengths and weaknesses of the Phase Change Material Market, a SWOT analysis was used.
Phase Change Material Market Dynamics
Phase Change Materials are used in floors, walls, roofs or other building materials across the housing infrastructure. The product in the interiors of the construction allows for the absorption and release of heat in the room at any time. This feature and the application of the Phase Change Materials is increasing demand for the product in building materials. The Phase Change Materials market growth is expected to be restrained by the stringent government regulations in the cold supply chain. The inadequate knowledge about the advantages of utilizing phase change material and its products also restrains the market growth.
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Phase Change Material Market Regional Insights
During the forecast period, the Europe region is expected to dominate the global Phase Change Material Market. This growth of the regional market is majorly due to the strong influence of stringent government regulations, consumer spending and construction activities.
During the forecast period, the Phase Change Material Market in the Asia Pacific region is expected to grow at a CAGR of 15.2 percent. This growth of the regional market is majorly due to the countries like China and India having a large number of construction activities.
Phase Change Material Market Segmentation
By Type
- Inorganic
- Organic
By Application
- HVAC
- Cold Chain & Packaging
- Thermal Energy Storage
- Electronics
- Textile
- Building & Construction
- Refrigeration & Equipment
- Others
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Phase Change Material Market Key Competitors include:
- 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
- BASF SE
- SGL Group
- Salca BV
- Rubitherm Technologies GmbH
- Pluss Advanced Technologies Pvt. Ltd.
- RGEES, LLC.
- Outlast Technologies LLC.
Key questions answered in the Phase Change Material Market are:
- What is Phase Change Material?
- What is the expected Phase Change Material Market size by 2029?
- What are the drivers of the Phase Change Material Market?
- What are the major challenges that the Phase Change Material Market could face in the future?
- What are the upcoming industry applications and trends for the Phase Change Material Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Phase Change Material Market?
- What growth strategies are the players considering to increase their presence in Phase Change Material Market?
- Who are the leading companies and what are their portfolios in Phase Change Material Market?
- Which region held the largest market share in the Phase Change Material Market?
- Which region is expected to grow at a high CAGR in the global Phase Change Material Market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by Type, Application and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
