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Phase Change Material Market Trends Analysis, a Marketing Plan of New Strategies Based on CAGR of 18%, Dynamics, Growth Drivers, Opportunities and Forecast 2029
Phase Change Material Market Overview:The global phase change materials (PCMs) market will be primarily driven by the escalating growth in both the construction and packaging industries. In the construction industry, PCMs are used for solar water heating, space heating/cooling, and waste heat recovery systems, among others. The growing investments in the construction industry across the globe coupled with the adoption of phase change materials in Heating, Ventilation and Air-Conditioning (HVAC) applications are projected to amplify its demand throughout the forecast period. Furthermore, the packaging business is also anticipated to generate substantial revenue gains during the forecast period.
The global Phase Change Material market was valued at USD 1.6 billion in 2020, and is projected to reach USD 7.1 billion by 2029, growing at a CAGR of 18% 2022-2029.
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Phase Change Material Market Key Players
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are Cold Chain Technologies, Inc., Croda International Plc., Microtek Laboratories Inc., Sasol Limited, PureTemp LLC., Henkel AG & Company KGAA, Outlast Technologies LLC, Climator Sweden AB, Ciat Group, Honeywell Electronic Materials, Inc and Others
Recent Development
In January 2019, PureTemp LLC launched a temperature-control fabric coating to control ambient temperature swings in apparel, footwear, bedding, safety, medical, workwear, and industrial applications
In March 2019, Croda International introduced two new biobased PCMs, CrodaTherm 32 and CrodaTherm 37. These two new products provide high latent heat, narrow melting and crystallization points, and high cycle stability.
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Phase Change Material Market Segmentation:
Phase Change Material Market by Type, 2020-2029, (USD Million), (Thousand Units)
Inorganic Pcm
Organic Pcm
Bio-Based Pcm
Phase Change Material Market by Application, 2020-2029, (USD Million), (Thousand Units)
Building & Construction
Hvac
Cold Chain & Packaging
Thermal Energy Storage
Refrigeration & Equipment
Electronics
Textiles
Others
Phase Change Material Market by Encapsulation Technology Type, 2020-2029, (USD Million), (Thousand Units)
Macro
Micro
Growth Factors:
Increasing demand from the Phase Change Material industries
The growing use of Phase Change Material in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Phase Change Material Market
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Phase Change Material Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2029, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Key Phase Change Material Market Trends
- The report identifies, determines, and forecasts the Global Phase Change Material Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Phase Change Material Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Phase Change Material Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Phase Change Material Market.
Key Questions
Which regions are expected to come out as the prominent markets over the forecast period?
Which factors will be vital driving factors for boosting the demand for advanced phase change materials over the foreseen years?
How current trends will be impacting the Advanced PCM (Phase Change Materials) Market?
How can market players capture low-hanging opportunities in the Advanced PCM (Phase Change Materials) Market in developed regions?
Which are the prominent players in the Advanced PCM (Phase Change Materials) Market?
What are the crucial strategies of the prominent players in the Advanced PCM (Phase Change Materials) Market to upscale their position in this landscape?
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