Phase Change Material Market is anticipated to expand at a compound annual growth rate (CAGR) from 2022 to 2031 | Advansa B.V., BASF SE, Cryopak Inc., E. I. Du Pont De Nemours And Company

According to a new market research report published by Global Insight Services "Phase Change Material Market is expected to reach US$ XX bn by 2031". Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Phase change materials are substances that can change from one physical state to another, such as from a solid to a liquid or from a liquid to a gas. The change in state can be caused by a change in temperature, pressure, or both. When a phase change material changes from one state to another, it absorbs or releases energy, which can be used to heat or cool a space.

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Key Trends

The key trends in Phase Change Material technology are the development of new materials with improved performance, the miniaturization of phase change materials, and the integration of phase change materials into new applications.

The development of new phase change materials is driven by the need for improved performance, such as higher thermal conductivity, lower melting point, and longer lifetime. In addition, new materials are being developed to address the challenges of miniaturization and integration into new applications.

The other key trend is the integration of phase change materials into new applications. This is enabled by the development of new materials with improved performance and by the miniaturization of devices. Phase change materials are being used in a variety of new applications, such as thermal management of batteries, data storage, and solar thermal energy storage.

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Key Drivers

The key drivers of Phase Change Material market are its superior thermal management properties, recyclability, and low cost.

Phase Change Materials (PCMs) are a type of material that can change phase (solid, liquid, or gas) in response to a change in temperature. PCMs have a high latent heat of fusion, meaning that they can absorb and release large amounts of heat energy when they change phase. This makes them ideal for thermal management applications, where they can be used to store and release heat energy as needed.

Key Market Segments

By Type
• Organic
• Inorganic
• Bio-based

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By Application
• Building and Construction
• Energy Storage
• HVAC
• Shipping and Transportation
• Others

Key Market Players

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

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This release was published on openPR.