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Advanced Phase Change Material Market – Global Industry Analysis, Size, Share, Trends and Forecast 2017 – 2023
Advanced Phase Change Material Market
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The report on global advanced phase change material (PCM) market covers segments such as applications, and type. Depending on their application in different fields, advanced PCMs can be categories as building and construction, energy storage, heating, ventilation and air conditioning (HVAC), shipping and transportation, and others.
Market Segmented by Applications
The growing use of advanced phase change materials in the building and construction applications are driving the growth of this market. In the building and construction applications, these materials provide high storage density in small temperature intervals that increase its demand in the building applications. The factors such as prominence on energy saving and technological developments in the construction industry promote the growth of advanced phase change materials in these applications. The demand for energy saving and environment eco-friendly technology from various end-use industries are projected to create several growth opportunities in this market over the forecast period.
Market Segmented by Type
On the basis of type, globally advanced phase change material is characterized into inorganic PCM, organic PCM, and bio-based PCM. These inorganic and organic/bio-based PCMs are differed by latent heat numbers per volume. The growing awareness about the benefits of organic and bio-based advanced phase changing materials are projected to create various growth opportunities for the players operating in this market over the forecast period.
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Regional Analysis
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. Among these regions, Europe holds the maximum market shares in these regions and expected to be the dominating region in this market over the forecast period. Various factors drive the growth of Europe advanced phase change materials market that includes rising demand for improved efficiency in building, stringent regulations and high demand of PCMs in the commercial and residential applications. Furthermore, rising anxiety about the cost of energy across Europe is anticipated to boost the growth of this market in the upcoming year.
Competitive Landscape
The report provides profiles of the companies in the global advanced phase change material (PCM) market such as, Microtek Laboratories, Inc., E. I. Du Pont De Nemours and Company, Entropy Solutions, Advansa B.V., BASF SE, Cryopak Inc., Outlast Technologies LLC, Pluss Advanced Technologies Pvt. Ltd., Sonoco Products Company, and Phase Change Energy Solutions.
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