Press release
Phase Change Material market are expected to increase by approximately 15.8% from 2024 to 2030
Phase Change Material market
Phase Change Material Market size was valued at USD 1981.94 Mn. in 2023 and the total Phase Change Material revenue is expected to grow at 15.8% from 2024 to 2030, reaching nearly USD 5534.14 Mn.
Phase Change Material Market Overview:
The Phase Change Material (PCM) market was valued at USD 1981.94 million in 2023 and is projected to grow at a CAGR of 15.8% from 2024 to 2030, reaching approximately USD 5534.14 million. PCMs are substances that absorb and release significant amounts of energy during phase transitions, effectively regulating temperatures. These materials are utilized in various applications such as building and construction, HVAC, refrigeration, and electronics due to their superior energy storage capacity compared to conventional materials like water or concrete.
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Drivers in the Phase Change Material Market:
The primary drivers for the PCM market include the increasing emphasis on reducing greenhouse gas emissions, stringent building regulations, and the rising demand for renewable energy sources. Additionally, the growing application of PCMs in various sectors such as building and construction, HVAC, packaging, and textiles further propels market growth.
Phase Change Material Market Trends:
A notable trend in the PCM market is the heightened use of these materials for temperature regulation in buildings, which helps manage room temperatures by leveraging day-night temperature variations. This trend is supported by the increasing focus on energy conservation, technological advancements, and urbanization in emerging markets, which collectively drive the adoption of PCMs across diverse applications.
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Phase Change Material Market Opportunities:
The PCM market presents lucrative opportunities driven by the expanding clinical trials and the development of new therapies requiring cold chain logistics. This includes the transportation and storage of temperature-sensitive materials such as pharmaceuticals and vaccines, where PCMs play a critical role in maintaining the integrity of these products, thereby creating significant growth prospects for industry players.
What is Phase Change Material Market Regional Insight?
Europe is anticipated to dominate the PCM market by 2030 due to stringent carbon emission regulations and strong demand from the building and construction sector. The region's emphasis on energy efficiency and green buildings further supports this growth. Meanwhile, Asia-Pacific is expected to witness significant growth, driven by the expanding pharmaceutical sector in China, India, and Japan, and increasing applications of PCMs in packaging, construction, and electronics. North America's market growth is bolstered by high-value pharmaceutical logistics, vaccination transportation, and robust healthcare spending.
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Segmentation Analysis of the Phase Change Material Market
by Type
Inorganic
Organic
by Application
HVAC
Cold Chain & Packaging
Thermal Energy Storage
Electronics
Textile
Building & Construction
Refrigeration & Equipment
Others
by Form
Encapsulated
Non-Encapsulated
by Encapsulation Technology
Macro
Micro
Molecular
Who is the largest manufacturers of Phase Change Material Market worldwide?
1. Cold Chain Technologies, Inc.
2. Croda International Plc.
3. Microtek Laboratories Inc.
4. Sasol Limited
5. PureTemp LLC.
6. Henkel AG & Company KGAA
7. Outlast Technologies LLC.
8. Advansa B.V.
9. AI Technology Inc.
10.Climator Sweden AB
11.Ciat Group
12.Honeywell Electronic Materials, Inc.
13.Phase Change Materials Products Ltd.
14.Rubitherm Technologies GmbH
15.Teappcm
16.BASF SE
17.SGL Group
18.Salca BV
19.Rubitherm Technologies GmbH
20.Pluss Advanced Technologies Pvt. Ltd.
21.RGEES, LLC.
22.Outlast Technologies LLC.
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Key Offerings:
โข Past Market Size and Competitive Landscape
โข Phase Change Material Market Size, Share, Size & Forecast by different segment
โข Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
โข Phase Change Material Market Segmentation - A detailed analysis by Product
โข Competitive Landscape - Profiles of selected key players by region from a strategic perspective
โข Competitive landscape - Market Leaders, Market Followers, Regional player
โข Competitive benchmarking of key players by region
โข PESTLE Analysis
โข PORTER's analysis
โข Value chain and supply chain analysis
โข Legal Aspects of business by region
โข Lucrative business opportunities with SWOT analysis
โข Recommendations
โข
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