Advanced Phase Change Materials Market Size to Hit US$ 4.2 Billion by 2032 | Grow CAGR by 11.1%

The latest report by IMARC Group, titled "Advanced Phase Change Materials Market Report by Type (Organic PCM, Inorganic PCM, Bio-Based PCM), Form (Encapsulated, Non-Encapsulated), Application (Building and Construction, Packaging, HVAC, Textiles, Electronics, and Others), and Region 2024-2032", The global advanced phase change materials market size reached US$ 1.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2032, exhibiting a growth rate (CAGR) of 11.1% during 2024-2032

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/advanced-phase-change-materials-market/requestsample

Factors Affecting the Growth of the Global Advanced Phase Change Material Industry:
• Emerging Technological Advancements
The field of advanced phase change materials (PCMs) is undergoing significant transformation due to continuous research and development (R&D) efforts. These materials, known for their ability to store and release large amounts of thermal energy during phase transitions, are becoming sophisticated. Additionally, various innovations in chemistry and materials science have led to PCMs with enhanced thermal storage capacities, allowing them to absorb more heat before changing phase which is essential for applications requiring temperature control over extended periods. Furthermore, advancements in the stabilization of PCMs ensure that their thermal performance remains consistent over many cycles of melting and solidification which extends the useful life of PCM-based products, making them more cost-effective and reliable for long-term applications.

• Growing Demand in Construction and HVAC:
The rising demand for advanced phase change materials (PCMs) in the construction and heating, ventilation, and air conditioning (HVAC) sectors is driven by the push toward sustainability and energy efficiency. Moreover, the growing construction industry uses PCMs integrated into building materials such as wallboards, floors, and roofs to enhance thermal mass which helps buildings to naturally regulate indoor temperatures by absorbing excess heat during the day and releasing it at night, reducing the need for mechanical cooling and heating systems. Besides this, the rising product demand in HVAC offer innovative solutions for energy storage, enabling more efficient management of thermal loads and peak demand by storing thermal energy during off-peak times and releasing it during peak demand periods, enabling PCMs to significantly reduce energy consumption and costs.

• Increasing Application in Textiles:
The integration of advanced phase change materials (PCMs) into textiles marks a significant evolution in the fabric industry, escalating the demand across various applications. Additionally, the incorporation of PCMs into fibers and fabrics allows manufacturers to create smart textiles that actively regulate temperature, providing comfort and performance enhancements. These temperature-regulating textiles find applications in sportswear, where they help athletes maintain optimal body temperature, enhancing endurance and performance. Besides this, the increasing product use in protective clothing allows workers in extreme temperature environments, firefighters, and military personnel to wear garments to protect against temperature fluctuations, enhancing safety and comfort.

Competitive Landscape with Key Player:
• BASF SE
• Cryopak
• Entropy Solutions
• Honeywell International Inc.
• Outlast Technologies LLC
• Climator Sweden AB
• Croda International Plc
• Phase Change Material Products Limited
• Phase Change Energy Solutions
• Pluss Advanced Technologies Pvt. Ltd.
• RGEES, LLC.
• Rubitherm Technologies GmbH
• Salca BV
• SGL Group

Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
• Organic PCM
• Inorganic PCM
• Bio-Based PCM
Organic PCM accounts for the largest market due to its biodegradability and versatility in temperature regulation.

Breakup by Form:
• Encapsulated
• Non-Encapsulated
Encapsulated form is dominating market growth due to its enhanced thermal stability and efficiency in energy storage.

Breakup by Application:
• Building and Construction
• Packaging
• HVAC
• Textiles
• Electronics
• Others
The building and construction sector is emerging as the largest market due to the increasing demand for energy-efficient buildings.

Market Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa
Europe's market growth is attributed to the largest market share owing to stringent energy efficiency regulations and a strong focus on sustainability.

Explore Full Report with Table of Contents: https://www.imarcgroup.com/advanced-phase-change-materials-market

Global Advanced Phase Change Material Market Trends:
At present, the demand for PCM in the building and construction sector is rising due to the need for more energy-efficient buildings to reduce energy consumption for heating and cooling, thereby improving building comfort and reducing carbon emissions. Moreover, the changing shift toward organic and biobased PCMs offer lower toxicity, and biodegradability, and are derived from renewable resources, aligning with global sustainability goals. Along with this, continuous research and development (R&D) efforts are leading to the discovery of new PCM materials with improved properties, such as higher thermal storage capacity, wider temperature ranges, and faster thermal response which is expanding the potential applications of PCM.

Browse More Latest Reports:
• printed batteries market:https://www.imarcgroup.com/printed-batteries-market
• data center construction market:https://www.imarcgroup.com/top-data-center-construction-companies
• sports technology market:https://www.imarcgroup.com/8k-technology-market
• insect protein market:https://www.imarcgroup.com/insect-protein-market
• positron emission tomography market:https://www.imarcgroup.com/global-positron-emission-tomography-market

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

Contact Us

IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163

About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.