Global Advanced Phase Change Materials (PCM) Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts to 2030

Advanced PCM can store or release energy during the state change. The phase change materials heat can be released and stored, the elements change state from solid to gas or liquid and vice versa. It is used for thermal energy storage, by enabling the temporary storage of high or low-temperature energy for later use. It offers a wide range of thermal management solutions, by facilitating the ability to manage demand between energy requirements and usage. The materials store releases thermal energy on transitioning from one phase to another, which happens when the materials freeze and the amount of energy is released in the form of latent heat fusion or energy of crystallization. Furthermore, the PCM is widely used in the process of green construction. According to the US department of housing and urban development, there is a significant number of residential projects under progression and in recent years, green construction is one of the key trends observed in North America. However, the Commission for Environmental Cooperation (CEC) is exploring the possibilities to include the more widespread adoption of green building practice in North America. The global advanced PCM market accounted 1116.6 USD million in 2020 and is anticipated to reach 5502 USD million by 2030 with a CAGR of 17.29% during the forecast period.
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Market Dynamics and Factors:
The factors responsible for driving the demand for advanced phase change materials include a rising demand for renewable sources of energy, increasing awareness towards reducing greenhouse gas emissions, and strict building codes. Moreover, in recent years temperature-controlled packaging plays a very crucial role in various pharmaceuticals, bio-medical, and food beverage industries. According to the research, the market of temperature controlled packaging in 2016 was USD 8648 million approximate and expected to grow USD 16,925 million approximate in the upcoming 2026. Hence rising demand for temperature-controlled material will help to increase the demand for PCM. However, the higher cost associated with the material and lesser awareness across the developing market is expected to restrain market growth. Factors such as technological developments and growing awareness for energy conservation, rising levels of urbanization in developing countries are expected to create ample opportunity for the market to grow.
Market Segmentation:
Global Advanced Phase Change Material Market – By Product
Organic PCM
Inorganic PCM
Bio-Based PCM
Global Advanced Phase Change Material Market – By Application
Building & Construction
Energy Storage
Shipping & Transportation
Others.
Global Advanced Phase Change Material Market – By Type
Encapsulated
Non-Capsulated
Global Advanced Phase Change Material Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Europe is dominating the market and accounted for the largest market share of 22.70% approximate in 2018. It is valued at approx. USD 245.7 Million in 2018 and is estimated to reach approx. USD 855.8 Million by 2026 at a CAGR of 15.12% during the forecast period. The growth in this region attributed to the growing global focus on energy conservation and extensively using applications such as refrigeration, HVAC, building and construction and energy storage. Followed by Europe, Asia-Pacific is the second dominating region across the world. Due to the government are taking initiative towards developing nation to increase the number of green building, which have better cooling and heating systems and utilization primarily of PCM. North America is expected to show sustainable growth, in which the US will contribute further.
Competitive Scenario:
The leading key players of the global advanced phase change material market are Sonoco Products Company, BASF SE, Outlast Technologies LLC., Entropy Solutions, Advansa B.V., E. I., Cryopak Inc., Phase Change Energy Solutions, Microtek Laboratories, Inc., Du Pont De Nemours And Company and Pluss Advanced Technologies Pvt. Ltd.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Advanced Phase Change Materials (PCM) industry, although key threats, opportunities and disruptive technologies that could shape the Global Advanced Phase Change Materials (PCM) Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Advanced Phase Change Materials (PCM) Market most.
The data analysis present in the Global Advanced Phase Change Materials (PCM) Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Advanced Phase Change Materials (PCM) Market business.
The 2021 Annual Global Advanced Phase Change Materials (PCM) Market offers:
100+ charts exploring and analysing the Global Advanced Phase Change Materials (PCM) Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Advanced Phase Change Materials (PCM) Market type
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