Global Phase Change Material Market

Phase Change Material Market Size, Share, Growth Analysis, By Type(Organic phase change materials, inorganic phase change materials, bio-based phase change materials, bio-based organic-inorganic hybrid phase change materials), By Application(Building and construction, HVAC (heating, ventilation, and air conditioning)), By Region - Industry Forecast 2024-2031

Report ID: SQMIG20B2049 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 69 | Figures: 70

Phase Change Material Market Dynamics

Phase Change Material Market Drivers

Technological Advancements

  • Ongoing advancements in materials science and engineering have led to the development of more efficient and cost-effective phase change materials. These innovations have expanded their applications across various industries, spurring demand.
  • Businesses within the PCM industry are focusing on consolidation and investing in extensive research and development to explore new and creative applications. This collaborative effort has facilitated the emergence of Europe as a dominant player in the market.

Phase Change Material Market Restraints

Temperature Range Limitations

  • Some phase change materials have specific temperature ranges within which they can effectively function. This limitation restricts their application to certain industries or climates and may not be suitable for extreme temperature conditions.
  • The thermal conductivity of some phase change materials may not be as high as desired, impacting their efficiency in certain applications where rapid heat transfer is essential.
$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Phase Change Material Market size was valued at USD 477 million in 2021 and is poised to grow from USD 612 million in 2023 to USD 3,004 million by 2030, at a CAGR of 25.5% during the forecast period (2023-2030).

Key players in the phase change material market are investing in research and development activities to stay ahead in the competition. They are adopting various strategies such as mergers & acquisitions, collaborations, and expanding product portfolios. 'Cold Chain Technologies, Inc. (US),', 'Croda International Plc. (UK),', 'Microtek Laboratories Inc. (US),', 'Sasol Limited (South Africa),', 'PureTemp LLC. (US),', 'Henkel AG & Company KGAA (Germany),', 'Outlast Technologies LLC (US),', 'Advansa B.V. (The Netherlands),', 'AI Technology Inc. (US),', 'Climator Sweden AB (Sweden),', 'Ciat Group (France),', 'Honeywell Electronic Materials, Inc. (US),', 'Phase Change Materials Products Ltd. (UK),', 'Rubitherm Technologies GmbH (Germany),', 'Teappcm (India)'

Ongoing advancements in materials science and engineering have led to the development of more efficient and cost-effective phase change materials. These innovations have expanded their applications across various industries, spurring demand.

The building and construction industry is set to become a dominant force in the market, fueled by the increasing focus on environmentally friendly construction and energy conservation. This emphasis has led to a rising demand for innovative and highly effective construction materials. Phase change materials (PCM) have emerged as a valuable solution, finding applications in various areas, including under-floor electric heating systems, PCM-filled glass windows, and thermally efficient concrete.

In recent times, significant technological advancements have propelled the European market to the forefront of the phase change materials (PCM) industry, with North America following closely behind. This industry is witnessing consolidation as various businesses prioritize research and development to explore innovative applications. A pivotal role in driving progress is played by a non-profit organization established in Germany, which fosters cooperation between industries to enhance the phase change materials business worldwide. Key end-users in the European market, including healthcare, aerospace, and automotive sectors, are experiencing a surge in demand for phase change materials. The well-developed manufacturing sector in Europe, with Germany as its leading manufacturer and exporter of PCM, has been instrumental in sustaining Europe's dominance in this industry. As a result, these businesses aspire to achieve significant market share in the phase transition materials sector in the coming years. This stability is projected to persist in the European market for phase change materials.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Smart Materials Market
Buy Now GET FREE SAMPLE
Aerospace Materials Market
Buy Now GET FREE SAMPLE
Core Materials Market
Buy Now GET FREE SAMPLE
LED Materials Market
Buy Now GET FREE SAMPLE
Piezoelectric Materials Market
Buy Now GET FREE SAMPLE
Reflective Material Market
Buy Now GET FREE SAMPLE
Thermal Interface Materials Market
Buy Now GET FREE SAMPLE
Advanced Functional Materials Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Phase Change Material Market

Report ID: SQMIG20B2049

$5,300
BUY NOW GET FREE SAMPLE