Global Phase Change Material Market Drivers, Restraints, Potential Growth Opportunities, Product Size, Application Estimation, Vendor Competitive Landscape, Trends and Forecast 2018-2025
Previously in 2018, the global phase change material (PCM) market size was valued at USD xx million and estimated to project a value of USD xx million in 2025 with a CAGR of x.x% during the forecast period.
Phase Change material (PCM) is a substance material with a high heat of fusion which, melting and solidifying at a certain temperature, is capable of storing and releasing energy in large amount. The PCM’s are classified as latent heat storage (LHS) units as the heat is absorbed or released when the material changes from solid to liquid or vice-versa. The PCM’s are increasingly used in the logistics and cold chain, electronic applications, buildings textiles and others. Temperature controlled packaging based on PCMs is used for transporting life-saving drugs and pharmaceuticals and perishable foods. This is uplifting the market of the PCM’s.
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Asia-Pacific holds the largest market share in the construction sector in the world. Infrastructure construction activities is one of the major driver in Asia-Pacific construction industry. The emergence of major construction players from China has fueled the industrial growth in the market. Indonesia, China, Singapore, Malaysia, and South Korea have owned the tag of becoming the efficient market players and hosts to numerous international events. However, due to the high demand of construction and luxury infrastructure, the move has accelerated the demand for shopping malls, arenas, stadiums, hotels and buildings. Moreover, on the other side of the market, the phase change material industry is gradually developing in the countries textile industry. However, this result to expect the confident growth of the phase change material market during the forecast period.
Leading players of the global phase change material market include BASF, Honeywell, Laird PLC., Croda International PLC., Entropy Solutions LLC, Henkel AG & Company, KGaA, Cryopak, Microtek Laboratories Inc., Phase Change Energy Solutions Inc., Rubitherm Technologies GmbH, Outlast Technologies LLC, DOW Corning Corporation, and Chemours Company. There are a few existing players in the advanced phase change material (pcm) market named Phase Change Materials Products Ltd., Ciat Group, Emco Klimatechnik Gmbh & Co., Rgees LLC., Ewald Dorken AG, Laird PLC, Datum Phase Change Ltd., Rubitherm Technologies GmbH, Climator Sweden AB, and more others.
Key Segmentation of the global phase change material 2018-2025 The Market is segmented as:
By Type • Organic • Inorganic • Bio Based
By Application • Building and Construction • Refrigeration • Electronics • Textiles
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