Advanced Phase Change Materials Market Expected to Reach $2,434 M, By Top Key Players: BASF SE, Entropy Solutions, Sonoco Products Company, Outlast Technologies, Du Pont De Nemours And Company, Phase Change Energy Solutions

The Global Advanced Phase Change Materials (PCM) Market generated revenue of $691 million in 2015, and is expected to reach $2,434 million by 2022, registering a CAGR of 19.8% from 2016 to 2022.

Phase change materials are used for thermal energy storage, enabling the temporary storage of low- or high-temperature energy for later use. Offering a range of thermal management solutions, PCMs facilitate the ability to manage demand between energy requirements and usage. These materials store and release thermal energy on transitioning from one phase to another, that is, when materials freeze, large amount of energy is released as latent heat fusion or energy of crystallization. Conversely, energy is absorbed from the environment as solids melt into liquid.

Download PDF Report Sample @ https://www.alliedmarketresearch.com/request-sample/1975

Phase change materials have an ability to store and release large amounts of energy, in the form of latent heat. Although phase changes can occur among any combination of the three phases of a substance - gas, liquid, or solid the most commercially viable transition is between the liquid and solid phases. When a PCM is in its' solid phase it can absorb heat, providing a cooling effect and when a PCM is in its' liquid phase it can release heat, providing a warming effect.

Rise in application in building & construction industry drives the growth of the global advanced phase change materials market. Furthermore, increase in emphasis on energy conservation, numerous applications of advanced phase change materials in the textile sector, rapid urbanization in developing countries, and continued technological developments in the field of advanced PCM are expected to fuel the market growth in the near future. The global advanced phase change materials market is gaining traction, owing to the increased use of microencapsulation and microencapsulation technologies, particularly in the construction and textile sectors. Another major trend observed is the gradual shift of manufacturers toward biodegradable, bio-based PCM as an alternative to the traditional petroleum-based PCM. Improved products by suppliers, and improved macro and micro-encapsulation techniques, which eventually decrease the prices of advanced PCM, is anticipated to create lucrative opportunities for market growth. However, the high cost of advanced PCM and the lack of awareness among the consumers about usage of phase change materials are expected to hinder market growth.

The organic PCM segment accounted for the highest value share in 2015, owing to the higher costs, while inorganic PCMs, such as, salt hydrates accounted for the highest volume share. However, bio-based PCM segment is expected to witness highest growth during the forecast period, owing to the increased preference towards environmental-friendly materials, mainly in North America and Europe.

Key findings of the Advanced Phase Change Materials Market:

• Europe dominated the global advanced phase change materials market in 2015, accounting for over one-third of the share, in terms of revenue.
• In 2015, advanced phase change materials used in building & construction application accounted for more than two-fifths share of the global market.
• The organic PCM segment accounted for about half of the value share in 2015, and is anticipated to maintain its lead during the forecast period.
• Germany generated more than two-fifths of the total revenue in the European market in 2015, and is expected to show highest growth rate.
• Asia-Pacific advanced phase change materials market is expected to grow at the highest rate.
• Solvent-based coating is the leading segment, accounting for more than half of the share in 2015.
• In 2015, BASF SE accounted for the highest market share of the global market.

Get Customized Report @ https://www.alliedmarketresearch.com/request-for-customization/1975

In 2015, Europe dominated the global advanced phase change materials market with maximum share, in terms of both revenue and volume. This was attributed to the high percentage of manufacturers and consumers of phase change materials. In addition, Asia-Pacific is expected to grow with the highest rate, registering a CAGR of 20.3% throughout the forecast period, owing to rapid industrialization in China and India, growth in infrastructure, increase in awareness about application of advanced phase change materials, and favorable government rules & regulations.

The key players of advanced phase change materials market profiled in this report are

• BASF SE,
• Entropy Solutions,
• Sonoco Products Company,
• Outlast Technologies LLC.,
• Advansa B.V.,
• E. I. Du Pont De Nemours And Company,
• Phase Change Energy Solutions,
• Cryopak Inc.,
• Microtek Laboratories, Inc., and
• Pluss Advanced Technologies Pvt. Ltd.

Access Full Summery @ https://www.alliedmarketresearch.com/advanced-phase-change-materials-market

About Us

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

Contact

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: +1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1⟨855⟩550-5975
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com

This release was published on openPR.