Global Advanced Phase Change Materials Market to 2030 - Featuring Sasol, Cryopak, Microtek Laboratories and Cold Chain Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Advanced Phase Change Materials Market by Type and Application - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

The Global Advanced Phase Change Materials Market size was valued to USD 1.63 billion in 2021, and is predicted to garner USD 4.93 billion by 2030, witnessing a CAGR of 13.0% from 2022-2030.

Phase Change Materials offer a range of thermal management solutions, by facilitating temporary storage of energy, either by releasing or absorbing sufficient amount of energy during phase transition, i.e., changing their states from solid to liquid and vice-versa; hence providing desired heat or cooling. The advanced phase change materials (Advanced PCMs) can store as well as provide massive volume of thermal energy after transition from one state to the other.

The global advanced phase change materials market observed a volumetric sale of 319721.5 tons in 2021 that is expected to rise up-to 1006514.2 tons by 2030, with a growing CAGR of 13.5% from 2022-2030.

Building and construction segment currently contribute the highest market share, owing to extensive application of advanced PCMs in green constructions, building interiors, cooling buildings and light weight architectures. Besides, increasing use of advanced PCMs for temperature control & comfort, reduction in operating cost, temperature security, long operating life and energy saving features are likely to boost the growth of global advanced phase change materials market in future.

However, factors such as high costs of advanced PCMs, its susceptibility to corrosion, flammability issues, and lack of awareness regarding its usage, are expected to limit the growth of advanced phase change materials market during the forecast period.

Moreover, market dynamics such as increasing awareness towards energy-saving and environment-friendly technologies, stringent regulations for minimizing greenhouse gas emissions, as well surge in R&D activities to increase the efficiency of advanced phase change materials, are expected to create lucrative opportunities in the global advanced phase change materials market in future.

Market Dynamics

Drivers

• Increased Use of Advanced Phase Change Materials for Temperature Control
• Regulations for Reduction of Greenhouse Gas Emissions

Restraints

• Negative Impact of Covid-19 Pandemic
• Corrosive Nature and Technical Issues

Opportunities

• Increasing Demand of Advanced PCMs from Pharmaceutical Industry

Key Market Segments

Global Advanced phase change materials market - By Type

• Organic
• Inorganic
• Bio-based

Global Advanced phase change materials market - By Application

• Building & Construction
• Energy Storage
• HVAC
• Shipping & Transportation
• Electronics
• Textiles
• Others

Global Advanced phase change materials market - By Geography

• North America
• U.S.
• Canada
• Mexico
• Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Korea
• Rest of Asia-Pacific
• RoW
• Latin America
• Middle East
• Africa

Companies Mentioned

• Sasol LTD
• Cryopak
• Microtek Laboratories
• Honeywell International (news)
• Outlast Technologies (news)
• Henkel AG & Company
• Croda International (news)
• Cold Chain
• Phase Change Energy Solutions
• Sonoco Products Company

For more information about this report visit https://www.researchandmarkets.com/r/v5ozk2

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