Global Phase Change Material Industry Anticipates Positive Growth between 2022-2028
Posted On April 18, 2022
Value Market Research's report on the global Phase Change Material market anticipates the market growth to show a positive trend during 2022-2028.The key factor driving the demand for phase change material is the increasing use of phase change material for temperature control. Rising demand for efficient thermal insulation materials in commercial refrigeration and HVAC applications are contributing to the growth of this market. Increased energy conservation and sustainable development trends are boosting the demand for phase change material in the market. Continuous advancement in technology as well as stringent regulations for energy efficient construction are expected to create growth opportunities in the upcoming years. However, the high cost of materials and lack of awareness to the limit of use of phase change material can restrain the growth of this market.
Phase change materials or PCM refers to the material that releases, stores and absorbs sufficient energy at phase transition to provide useful heat/cooling. Phase change materials can be used for various applications including waste heat recovery, solar energy, building energy conservation and air water conditioning systems etc. They have high storage capacities and extremely low losses compared to other technologies. They melt and solidify at specified temperatures and are suitable to control the temperature in a range of diverse applications. Incorporation of PCMs into products help in energy savings, cooling and heating relief in remote locations without access to electricity, and better performing electronics.
The report "Global Phase Change Materials Market Report By Product (Paraffin, Non-Paraffin, Salt Hydrates, Eutectics), By End-User (Building & Construction, HVAC, Electrical & Electronics, Packaging, Textile, Chemical Industries, Healthcare, Aerospace & Automotive, Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation And Forecast, 2021-2028" provides an overview of the market and a concise summary of the report before delving into a complete revenue analysis segmented by segments and countries in the following chapters. The report analysis the industry and identifies the leading market drivers, market restraints, opportunities and prominent threats in the near future.
The global market is classified into the following segments:
By Product, the Phase Change Material market is divided into: Paraffin, Non-paraffin, Salt Hydrates, Eutectics.
By End-User, the Phase Change Material market is divided into: Building & Construction, HVAC, Electrical & Electronics, Packaging, Textile, Chemical Industries, Healthcare, Aerospace & Automotive, Others.
The report finds the leading region likely to dominate the market over the next six years among all the regions analysed. The report includes extensive research on North America, Europe, Latin America, the Middle East and Africa.
Players Profiled In the Report:
Phase Change Products Pty Ltd., Henkel, Cryopak, BASF SE, Entropy Solutions LLC, Laird Plc, Sasol, The Dow Chemical Company, and Croda International Plc.
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