Phase Change Materials Markets 2023: CSafe Global, DuPont, Henkel, Micron, Phase Change Material Products Ltd., Shin-Etsu Chemical Co. Ltd. and TCP Reliable

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"Summary

Increasing awareness about energy efficiency, strict government regulations for decreasing greenhouse gas emissions, increasing fuel prices and the need for reduced dependence on conventional resources have all led to increasing use of phase change materials (PCMs). The use of a latent heat storage system using PCMs is an efficient way to store thermal energy and has the advantages of high-energy storage density and the isothermal nature of the storage process.

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PCMs, also called latent thermal storage materials, can store and release large amounts of heat and energy to maintain a constant temperature. They differ from insulation materials because, upon reaching their melting point, they change phase. This can be from solid to liquid, in which case they absorb a large amount of energy; alternatively, they can change phase from liquid to solid, releasing energy in the process.

The ability of PCMs to change phase at a given temperature is of tremendous benefit to the increasing demands for energy efficiency and energy savings. Various industries (such as building and construction, transportation and shipping, commercial refrigeration, textiles and packaging) require efficient heating and cooling: PCMs fulfill these requirements. Some PCMs are also bio-based and therefore environmentally friendly. Demand for PCMs in Europe is expected to grow significantly. There is an ongoing effort to integrate PCMs in increasingly more energy-hungry applications. However, there is still a need to increase the knowledge of the efficacy of PCM products and the cost savings they bring when used efficiently.

This report discusses the technical and economic aspects of PCM products. These products are seeing increasing demand in various applications because there is a conscious effort to save energy as fossil fuels are rapidly becoming depleted due to indiscriminate use. Nonrenewable fuels also harm the environment, so PCMs are expected to be in demand because they are environmentally friendly and energy efficient. The PCM products discussed in this report are paraffin, salt hydrates and others (including fatty acids and eutectic salts). PCM products have various applications, but the major revenue-generating application at the global level is building and construction. However, the shipping
and transportation sector and the textile sector are expected to show significant growth in future.

The main driver for the PCM product market is construction activity in Europe. PCM products can store large amounts of heat, so they are considered more effective than traditional materials such as water, plastic and wood. This has increased their use in textiles and packaging, where a controlled temperature environment is required. However, one major drawback of PCM products is their hazardous nature."

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"Report Scope:

This research report incorporates an in-depth analysis of the European PCM market, including market estimates and trends through 2023. The report analyzes the market dynamics of such applications across Europe. Major players, competitive intelligence, innovative technologies, market dynamics and market opportunities are discussed in detail. European phase change materials technologies are analyzed by phase change material type, application and country analysis.

The report also discusses recent corporate developments among major players, as well as their product portfolios. Companies selected for profiles are global and regional companies operating in the region. Furthermore, the report also includes an analysis of patents over the past two to three years in Europe.

Estimated values used are based on manufacturers total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.

Report Includes:

- 17 data tables and 38 additional tables
- Industry analysis of the phase change materials (PCMs) or latent heat storage materials within the European region
- Analyses of global market trends, with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
- A brief study of various PCMs such as salt hydrates, paraffin, fatty acids, eutectic salts on the basis of applications, materials and region
- An outline of track alliances, joint ventures, mergers and acquisitions, new products and other developments and research and development (R&D) in the PCM market
- Patent analysis of the PCMs and gain insight into trends over the past 23 years
- Examination of competitive landscape and corporate profiles of major market players, including CSafe Global, DuPont, Henkel, Micron, Phase Change Material Products Ltd., Shin-Etsu Chemical Co. Ltd. and TCP Reliable"

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