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The Worldwide Advanced Phase Change Materials Industry is Projected to Reach $4.5 Billion by 2030
Global Advanced Phase Change Materials Market
Dublin, Sept. 16, 2022 (GLOBE NEWSWIRE) -- The "Advanced Phase Change Materials Market By Application, By Type: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global advanced phase change materials market was valued at $1.4 billion in 2020, and is projected to reach $4.5 billion by 2030, growing at a CAGR of 12.61% from 2021 to 2030.
Phase change materials are compounds that absorb, store, and release an oversized amount of heat at a comparatively constant temperature by changing their physical state. When a phase change material freezes, it releases an oversized amount of energy in the form of heat whereas, when such material melts, it absorbs an oversized amount of heat from the environment.
Phase change material absorbs and release heat by liquefying and solidifying at set temperatures. The natural heat property of phase change material helps in maintaining a structure's temperature and prevents sudden external changes. Fluctuations in ambient temperature recharge phase change material, making them suitable for everyday applications.
The major driver for the advanced phase change material market is increase in use of activity materials for temperature control. The appliance of phase change material in buildings ensures temperature regulation in rooms. Variations in environmental temperatures during the day and night lead to the utilization of phase change materials to smart textiles or fabrics, which releases and absorbs energy accordingly. Temperature regulation using activity material reduces the load on the heating and cooling equipment used for maintaining temperature.
The benefits of using phase change material such as energy-saving and low greenhouse emission emissions compel governments to encourage and enforce its use, leading to a rise in demand for phase change material. Indirect regulations and policies in exceedingly few countries, such as China and Australia create awareness about activity material as another for reducing energy consumption, greenhouse gases, and overhead.
The major problem faced by the advanced phase change material market is the lack of awareness regarding the advantages of using activity material and its products. Companies are marketing organic materials to extend awareness regarding their products and advantages, which is expected to be derived by using them, hence driving the demand for the market. The government also plays a crucial role in increasing awareness about natural action material through regulations and subsidies.
The advanced phase change material market got affected negatively by the COVID-19 pandemic. Owning to the pandemic situation, several countries globally went into lockdown, to curb the spread of the virus, due to which, the availability and demand chain got disrupted, thus affecting the market. Industries, manufacturing units, infrastructural projects, and mining operations were closed down for the past two years, owing to the pandemic situation. The fluctuating price of raw materials leads to decrease in the production of organic phase change materials and therefore, the COVID-19 pandemic hinders the expansion of the advanced phase change materials market.
The key players operating in the global advanced phase change materials market 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 Dorken AG, and Laird PLC.
Key players in the market are competing for the share of the market through product launch, joint venture, partnership, and expanding the production capabilities to meet the future demand for the advanced phase change materials market in the forecast period.
COVID-19 Impact Analysis:
COVID-19 has severely impacted the global economy with devastating effects on global trade, which has simultaneously affected households, business, financial institution, industrial establishments, and infrastructure companies. Restrictions on international trade and lockdown regulations on the operations of the chemicals industry are projected to limit short-term demand for advanced phase change materials in the infrastructure market. Industries, manufacturing units, infrastructural projects, and mining operations were closed for the past two years due to the pandemic situation.
The fluctuation in price of raw materials used to make phase change material and the COVID-19 pandemic hinder the growth of the phase change material market. Countries such as China, the U.S., and others are back on their feet, due to the availability of COVID-19 vaccines, and are continuing regular work due to the presence of huge investment in the infrastructure developments such as smart city, airports, and others.
Key Benefits For Stakeholders
This report provides a detailed quantitative analysis of the current advanced phase change materials market trends and estimations from 2020 to 2030, which assists to identify the prevailing opportunities.
An in-depth analysis of advanced phase change materials market across the globe is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate specific plans.
A comprehensive analysis of the factors that drive and restrain the growth of the market is provided.
Region-wise and country-wise market conditions are comprehensively analyzed in this report.
The projections in this report are made by analyzing the current trends and future market potential from 2020 to 2030 in terms of value.
An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
Key market players within the market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook of the global advanced phase change materials market.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter's five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market
3.7. Pricing Analysis
3.8. Value Chain Analysis
3.9. Key Regulation Analysis
3.10. Patent Landscape
CHAPTER 4: ADVANCED PHASE CHANGE MATERIALS MARKET, BY APPLICATION
4.1 Overview
4.1.1 Market size and forecast
4.2 Building and Construction
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Energy Storage
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 HVAC
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country
4.5 Shipping and Transportation
4.5.1 Key market trends, growth factors and opportunities
4.5.2 Market size and forecast, by region
4.5.3 Market analysis by country
4.6 Electronics
4.6.1 Key market trends, growth factors and opportunities
4.6.2 Market size and forecast, by region
4.6.3 Market analysis by country
4.7 Textiles
4.7.1 Key market trends, growth factors and opportunities
4.7.2 Market size and forecast, by region
4.7.3 Market analysis by country
4.8 Others
4.8.1 Key market trends, growth factors and opportunities
4.8.2 Market size and forecast, by region
4.8.3 Market analysis by country
CHAPTER 5: ADVANCED PHASE CHANGE MATERIALS MARKET, BY TYPE
5.1 Overview
5.1.1 Market size and forecast
5.2 Organic PCM
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Inorganic PCM
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 Bio-based PCM
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country
CHAPTER 6: ADVANCED PHASE CHANGE MATERIALS MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Player
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Key developments
CHAPTER 8: COMPANY PROFILES
8.1 BASF SE
8.1.1 Company overview
8.1.2 Company snapshot
8.1.3 Operating business segments
8.1.4 Product portfolio
8.1.5 Business performance
8.1.6 Key strategic moves and developments
8.2 Entropy Solutions
8.2.1 Company overview
8.2.2 Company snapshot
8.2.3 Operating business segments
8.2.4 Product portfolio
8.2.5 Business performance
8.2.6 Key strategic moves and developments
8.3 Sonoco Products Company
8.3.1 Company overview
8.3.2 Company snapshot
8.3.3 Operating business segments
8.3.4 Product portfolio
8.3.5 Business performance
8.3.6 Key strategic moves and developments
8.4 Outlast Technologies LLC
8.4.1 Company overview
8.4.2 Company snapshot
8.4.3 Operating business segments
8.4.4 Product portfolio
8.4.5 Business performance
8.4.6 Key strategic moves and developments
8.5 E. I. Du Pont De Nemours And Company
8.5.1 Company overview
8.5.2 Company snapshot
8.5.3 Operating business segments
8.5.4 Product portfolio
8.5.5 Business performance
8.5.6 Key strategic moves and developments
8.6 Phase Change Energy Solutions
8.6.1 Company overview
8.6.2 Company snapshot
8.6.3 Operating business segments
8.6.4 Product portfolio
8.6.5 Business performance
8.6.6 Key strategic moves and developments
8.7 Cryopak Inc.
8.7.1 Company overview
8.7.2 Company snapshot
8.7.3 Operating business segments
8.7.4 Product portfolio
8.7.5 Business performance
8.7.6 Key strategic moves and developments
8.8 Microtek Laboratories, Inc.
8.8.1 Company overview
8.8.2 Company snapshot
8.8.3 Operating business segments
8.8.4 Product portfolio
8.8.5 Business performance
8.8.6 Key strategic moves and developments
8.9 Advansa B.V.
8.9.1 Company overview
8.9.2 Company snapshot
8.9.3 Operating business segments
8.9.4 Product portfolio
8.9.5 Business performance
8.9.6 Key strategic moves and developments
8.10 Pluss Advanced Technologies Pvt. Ltd.
8.10.1 Company overview
8.10.2 Company snapshot
8.10.3 Operating business segments
8.10.4 Product portfolio
8.10.5 Business performance
8.10.6 Key strategic moves and developments
For more information about this report visit https://www.researchandmarkets.com/r/t7xc41
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