Advanced Phase Change Materials (PCM) Market Overview:
The global advanced phase change materials (PCM) market generated revenue of $691 million in 2015, and is expected to reach $2,434 million by 2022, registering a CAGR of 19.8% from 2016 to 2022.
Phase change materials are used for thermal energy storage, enabling the temporary storage of low- or high-temperature energy for later use. Offering a range of thermal management solutions, PCMs facilitate the ability to manage demand between energy requirements and usage. These materials store and release thermal energy on transitioning from one phase to another, that is, when materials freeze, large amount of energy is released as latent heat fusion or energy of crystallization. Conversely, energy is absorbed from the environment as solids melt into liquid.
The global advanced phase change materials market is segmented based on type, application, and geography. Based on type, it is categorized into organic PCM, inorganic PCM, and bio-based PCM. On the basis of application, it is segregated into building & construction, energy storage, HVAC, shipping & transportation, electronics, textiles, and others.
Global Advanced Phase Change Materials Market Segmentation
Advanced phase change materials find extensive applications in construction & building sector, which is one of the key factor that drives the market growth. Furthermore, factors such as increase in emphasis on energy conservation, expansion in application of advanced phase change materials in the textile sector, rapid urbanization in developing countries and continued technological developments in the field of advanced PCM are expected to fuel the market growth in the near future. However, the high cost of advanced PCM and the lack of awareness among the consumers regarding usage of phase change materials are expected to hinder the market growth.
Top Investment Pocket
Building & construction segment is anticipated to be the top investment pocket in the global advanced phase change materials market, owing to the extensive application of these materials in building interiors and growth of the construction industry in China, India, and Brazil. Moreover, demand for “green” construction is expected to contribute to the growth of the market.
Top Investment Pocket
Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Europe accounted for the highest share, owing to increase in the utilization of advanced phase change materials and presence of major manufacturers. However, Asia-Pacific is expected to show highest growth rate during the forecast period.
Advanced Phase Change Materials Market Share, By Geography, 2015 & 2022 (%)
U.S. accounted for the highest market share in 2015, and is expected to maintain its dominance throughout the forecast period.
U.S. Advanced Phase Change Materials Market, 2014-2022 ($Million)
The key players of advanced phase change materials market profiled in this report are BASF SE, Entropy Solutions, Sonoco Products Company, Outlast Technologies LLC., Advansa B.V., E. I. Du Pont De Nemours And Company, Phase Change Energy Solutions, Cryopak Inc., Microtek Laboratories, Inc., and Pluss Advanced Technologies Pvt. Ltd.
Other players in the value chain (not profiled in the report) include Phase Change Materials Products Ltd., Rubitherm Technologies GmbH, Ciat Group, Datum Phase Change Ltd., Emco Klimatechnik Gmbh & Co. KG, Rgees LLC., Climator Sweden AB, Ewald Dörken AG, and Laird PLC.
- Comprehensive analysis of the drivers and restraints that affect the market growth is provided.
- The report provides quantitative analysis of the current trends and future estimations from 2014 to 2022 to assist the stakeholders to identify prevalent market opportunities.
- Top investment pockets highlight the opportunity in the most lucrative product segment.
- Key players of the market are profiled and their strategies are analyzed to identify the global competitive outlook.
- Market trends of major countries in each region are mapped according to the estimated revenue.
Advanced Phase Change Materials (PCM) Market Key Segmentation
- Organic PCM
- Inorganic PCM
- Bio-based PCM
- Building & Construction
- Energy Storage
- Shipping & Transportation
- Others (Healthcare and Telecommunication.)
- North America
- Rest of Europe
- Rest of Asia-Pacific
- South Africa
- Rest of LAMEA