Global Advance Phase Change Materials Market Forecast 2018-2026
The Global Advance phase change materials market is forecasted to evolve with a CAGR of 20.44% over the forecast period of 2018-2026. The market growth is mainly propelled by several advantages possessed by these materials, which includes their wide range of melting temperatures and influence on peak load. Also, the need to reduce greenhouse gas emissions is driving the market demand.
Segmentation of the Global Advanced Phase Change Materials Market is done on the basis of applications and types. The applications of the global phase change materials can be found in commercial refrigeration, building and construction, HVAC, shipping and transportation, energy storage, and textiles. Market segment by type includes salt hydrates, paraffins and others. Development and commercialization of bio-based PCMs and reduction in their prices are presenting the market with prospective growth opportunities. However, lack of information about the varied applications of these PCMS is challenging the market expansion.
Europe, Asia-Pacific, North America and rest of the world market are the regions over which the Global Advance Phase Change Materials market is geographically segmented. Of these, Europe occupies a significant market share. PCMs are ideal materials for these regions as they witness extreme climatic conditions, especially in the Northern parts of Europe. The region is also focusing on bringing down its greenhouse gas emissions, which, in turn, is augmenting the demand for advanced phase change materials.
Several advanced phase change materials manufacturing companies that are active globally include Advansa B.V, Ai Technology Inc., Aster Pvt Ltd, BASF, Chomerics, Climator Sweden Ab, Dörken, Croda International Plc, Csafe Global, Datum Phase Change Ltd, Dow Chemical Company, Dupont, Entropy Solutions Inc, Henkel, Kaplan Energy, Aavid Kunze Gmbh (Merged With Boyd Corporation), Laird Technologies, Laminar Medica Limited ( Acquired By Sonoco Thermosafe), Micron, Microtek Laboratories Inc., National Gypsum, Outlast Technologies, Phase Change Material Products Ltd, Phase Change Energy Solutions, Phase Change Products Pty Ltd, Pluss Polymers, Rubitherm Technologies, Shenzhen Aochuan Technology Co. Ltd, Shin-Etsu Chemical Co. Ltd, TCP Reliable, and Vesture Corp.