IMARC Group, a leading market research company, has recently released a report titled “Advanced Phase Change Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global advanced phase change materials market research, size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the Advanced Phase Change Materials Market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 1.4 Billion |
| Market Forecast in 2028 | US$ 2.9 Billion |
| Growth rate (2023 to 2028) | CAGR of 12.74% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What are Advanced Phase Change Materials?
Advanced phase change materials (PCM) represent a crucial innovation within the field of materials science and energy management. PCM are substances that have the unique ability to store and release thermal energy as they transition between different phases, such as from solid to liquid or vice versa, at a specific temperature. These materials have garnered significant attention for their role in improving energy efficiency and thermal management across various industries. One of the key advantages of advanced PCM is their capability to efficiently regulate temperature. They find extensive applications in building construction, where they help maintain indoor temperatures by absorbing excess heat during the day and releasing it at night, reducing the need for conventional heating and cooling systems. Furthermore, advanced PCMs are increasingly being integrated into electronics and transportation sectors to enhance thermal stability, thus prolonging the lifespan of devices and reducing energy consumption.
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What are the Growth Prospects and Trends in the Advanced Phase Change Materials Industry?
Growing awareness of the need for energy conservation and reducing carbon emissions is a significant driver. Advanced PCMs play a crucial role in enhancing the energy efficiency of buildings, electronics, and transportation by efficiently managing temperature variations, reducing the reliance on energy-intensive heating and cooling systems. Additionally, with the increasing focus on sustainable construction practices, advanced PCMs are in high demand for their ability to contribute to green building certifications. They help in maintaining stable indoor temperatures, reducing energy consumption, and ultimately lowering operational costs for building owners. Other than this, the expansion of the electronics industry, coupled with the rising adoption of electric vehicles (EVs), has led to a surge in demand for advanced PCMs. These materials help in dissipating heat generated by electronics and EV batteries, ensuring their optimal performance and longevity.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Organic PCM
- Inorganic PCM
- Bio-Based PCM
Breakup by Form:
- Encapsulated
- Non-Encapsulated
Breakup by Application:
- Building and Construction
- Packaging
- HVAC
- Textiles
- Electronics
- Others
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
Who are the key players operating in the industry?
The report covers the major market players including:
- 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
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