Phase Change Materials Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Phase change materials Market
The phase change materials market size was valued at USD 1.157 billion in 2019, and the market is now projected to grow to USD 4.174 million by 2027, exhibiting a CAGR of 21.0% during the forecast period of 2020-2027.
The growing demand for building & construction equipment has changed its trend show the below factor the onset of coronavirus in the region. Shortage of human capital and other essentials required for the construction of projects is hindering the building & construction business. In addition, many construction projects have also been halted by the government of many countries in order to control on cost. For the present, the current locked down situation in several countries will continue affect the residential and the commercial sectors because of distribution chains. Some of the key concerns affecting the growth of overall market are increasing prices of raw materials, closure of manufacturing industries and lower work force. These factors will hamper the phase change materials market growth.
PCMs are included in the walls, floors, roofs, or other constructions in housing infrastructure or as shutters and windows. The two bulk applications are used in the building systems, where the wallboards are coated or the substance is incorporated into a concrete or mortar form. The use of setting integrated (passive building systems) for altering the thermal characteristics of the building materials has been established as the most essential use. A best fit approach to enhance the thermal energy storage capacity of construction materials is through integration with PCMs. Lamp and gypsum boards, doors and roofs, concrete and other materials are used together and enhanced with thermal insulation of the building structure. The most used application of PCMs in the construction of houses is on the inner surface of the building envelope system. These factors drive the phase change materials market share.
Energy demand is increasing rapidly throughout the whole world, and due to frequent utilize of hydrocarbon fuels it puts more pressure on emitting of greenhouse gases especially CO2. These gases are terrible since they have a very large impact on the environment such as; depleting the ozone layer, global warming, and climate change. Comparatively, more evidence unveiled that construction industry uses well over a third of the global energy. Additionally, the industry contributes to more than 30% of total CO2 emissions according to the IEA.
Comprehensive Analysis of Phase change materials Market
The phase change materials market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided into 2 Segments, By Type Analysis and By Application Analysis. Organic PCMs are originally the bi-products of petroleum and possess a certain temperature of phase change. They include fatty acids and paraffin and record the highest growth rate of all classes of waves. Further, it is not attacked by chemicals and heat and has very low or almost negligible subcooling level. It is expected that this shall lead to segmental growth in the years to come. It is also important to point out that PCMs have potential uses in almost all sectors including construction industry, automotive industry, aerospace industries among others. As applied to building industries; the uses of the product are immeasurable. These can be installed from roof to floors as well as to other electrical equipment in the house at every stage. Also, they can store some heat in the shift of a phase from solid to liquid within substances so as to avoid fluctuations of internal climates.
The market in Europe stood at USD 443.4 million in 2019. It will probably continue to control and possess a big reputation in the international market in the future years. This is due to the increased impact of severe government regulations in construction, construction work, and consumer expenditure. The market should grow with the increasing construction industry to lead the market.
Global E Systems (Netherlands), PCM Products Ltd (U.K.), PURETEMP LLC (U.S.), Climator Sweden AB (Sweden), Croda International Plc (U.K.), Sasol (South Africa), Laird Technologies, Inc. (U.S.), Honeywell International Inc. (U.S.), Phase Change Solutions (U.S.) and Cold Chain Technologies (U.S.) are significant players in the Advanced Materials market. They are the key player that ensures the industry's success while still having to keep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.
In July 2019, Bio-based phase change material in microencapsulated form was launched by Croda International. This product can regulate temperatures in bedding, automobiles interiors, mattresses, garments, and other uses.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2016-2027
Base Year 2019
Forecast Period 2020-2027
Historical Period 2016-2018
Unit Value (USD Million)
Segmentation By Type, By Application, & By Region
By Type
Organic
Inorganic
Eutectic
By Application
Building & Construction
HVAC
Cold Chain & Packaging
Thermal Energy Storage
Textile
Electronics
Others
By Region
North America (By Application and Country)
The U.S. (By Application)
Canada (By Application)
Europe (By Application and Country)
Germany (By Application)
UK (By Application)
France (By Application)
Italy (By Application)
Spain (By Application)
Russia (By Application)
Rest of Europe (By Application)
Asia Pacific (By Application and Country)
China (By Application)
Japan (By Application)
India (By Application)
ASEAN (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Application and Country)
Brazil (By Application)
Mexico (By Application)
Rest of Latin America (By Application)
The Middle East & Africa (By Application and Country)
GCC (By Application)
South Africa (By Application)
Rest of the Middle East & Africa (By Application)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Emerging Trends
- 4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Industry SWOT Analysis
- 4.3. Regulatory Analysis
- 4.4. Recent Industry Developments - Policies, Partnerships, New Types Launches, and Mergers & Acquisitions
- 5. Qualitative Insights – Impact of COVID-19 on Global Phase Change Materials Market
- 5.1. Supply Chain Challenges
- 5.2. Steps taken by Government/Companies to overcome this impact
- 5.3. Potential opportunities due to COVID-19 outbreak
- 6. Global Phase Change Materials Market Analysis, Insights and Forecast, 2016-2027
- 6.1. Key Findings / Summary
- 6.2. Market Size Estimates and Forecast
- 6.2.1. By Type (Value)
- 6.2.1.1. Organic
- 6.2.1.2. Inorganic
- 6.2.1.3. Eutectic
- 6.2.2. By Application (Value)
- 6.2.2.1. Building & Construction
- 6.2.2.2. HVAC
- 6.2.2.3. Cold Chain & Packaging
- 6.2.2.4. Thermal Energy Storage
- 6.2.2.5. Textile
- 6.2.2.6. Electronics
- 6.2.2.7. Others
- 6.2.3. By Region (Value)
- 6.2.3.1. North America
- 6.2.3.2. Europe
- 6.2.3.3. Asia Pacific
- 6.2.3.4. Latin America
- 6.2.3.5. Middle East & Africa
- 7. North America Phase Change Materials Market Analysis, Insights and Forecast, 2016-2027
- 7.1. Key Findings / Summary
- 7.2. Market Size Estimates and Forecast
- 7.2.1. By Type
- 7.2.1.1. Organic
- 7.2.1.2. Inorganic
- 7.2.1.3. Eutectic
- 7.2.2. By Application (Value)
- 7.2.2.1. Building & Construction
- 7.2.2.2. HVAC
- 7.2.2.3. Cold Chain & Packaging
- 7.2.2.4. Thermal Energy Storage
- 7.2.2.5. Textiles
- 7.2.2.6. Electronics
- 7.2.2.7. Others
- 7.2.3. By Country (Value)
- 7.2.3.1. U.S.
- 7.2.3.1.1. By Application (Value)
- 7.2.3.1.1.1. Building & Construction
- 7.2.3.1.1.2. HVAC
- 7.2.3.1.1.3. Cold Chain & Packaging
- 7.2.3.1.1.4. Thermal Energy Storage
- 7.2.3.1.1.5. Textiles
- 7.2.3.1.1.6. Electronics
- 7.2.3.1.1.7. Others
- 7.2.3.2. Canada
- 7.2.3.2.1. By Application (Value)
- 7.2.3.2.1.1. Building & Construction
- 7.2.3.2.1.2. HVAC
- 7.2.3.2.1.3. Cold Chain & Packaging
- 7.2.3.2.1.4. Thermal Energy Storage
- 7.2.3.2.1.5. Textiles
- 7.2.3.2.1.6. Electronics
- 7.2.3.2.1.7. Others
- 8. Europe Phase Change Materials Market Analysis, Insights and Forecast, 2016-2027
- 8.1. Key Findings / Summary
- 8.2. Market Size Estimates and Forecast
- 8.2.1. By Type
- 8.2.1.1. Organic
- 8.2.1.2. Inorganic
- 8.2.1.3. Eutectic
- 8.2.2. By Application (Value)
- 8.2.2.1. Building & Construction
- 8.2.2.2. HVAC
- 8.2.2.3. Cold Chain & Packaging
- 8.2.2.4. Thermal Energy Storage
- 8.2.2.5. Textiles
- 8.2.2.6. Electronics
- 8.2.2.7. Others
- 8.2.3. By Country (Value)
- 8.2.3.1. Germany
- 8.2.3.1.1. By Application (Value)
- 8.2.3.1.1.1. Building & Construction
- 8.2.3.1.1.2. HVAC
- 8.2.3.1.1.3. Cold Chain & Packaging
- 8.2.3.1.1.4. Thermal Energy Storage
- 8.2.3.1.1.5. Textiles
- 8.2.3.1.1.6. Electronics
- 8.2.3.1.1.7. Others
- 8.2.3.2. UK
- 8.2.3.2.1. By Application (Value)
- 8.2.3.2.1.1. Building & Construction
- 8.2.3.2.1.2. HVAC
- 8.2.3.2.1.3. Cold Chain & Packaging
- 8.2.3.2.1.4. Thermal Energy Storage
- 8.2.3.2.1.5. Textiles
- 8.2.3.2.1.6. Electronics
- 8.2.3.2.1.7. Others
- 8.2.3.3. France
- 8.2.3.3.1. By Application (Value)
- 8.2.3.3.1.1. Building & Construction
- 8.2.3.3.1.2. HVAC
- 8.2.3.3.1.3. Cold Chain & Packaging
- 8.2.3.3.1.4. Thermal Energy Storage
- 8.2.3.3.1.5. Textiles
- 8.2.3.3.1.6. Electronics
- 8.2.3.3.1.7. Others
- 8.2.3.4. Italy
- 8.2.3.4.1. By Application (Value)
- 8.2.3.4.1.1. Building & Construction
- 8.2.3.4.1.2. HVAC
- 8.2.3.4.1.3. Cold Chain & Packaging
- 8.2.3.4.1.4. Thermal Energy Storage
- 8.2.3.4.1.5. Textiles
- 8.2.3.4.1.6. Electronics
- 8.2.3.4.1.7. Others
- 8.2.3.5. Rest of Europe
- 8.2.3.5.1. By Application (Value)
- 8.2.3.5.1.1. Building & Construction
- 8.2.3.5.1.2. HVAC
- 8.2.3.5.1.3. Cold Chain & Packaging
- 8.2.3.5.1.4. Thermal Energy Storage
- 8.2.3.5.1.5. Textiles
- 8.2.3.5.1.6. Electronics
- 8.2.3.5.1.7. Others
- 9. Asia-Pacific Phase Change Materials Market Analysis, Insights and Forecast, 2016-2027
- 9.1. Key Findings / Summary
- 9.2. Market Size Estimates and Forecast
- 9.2.1. By Type
- 9.2.1.1. Organic
- 9.2.1.2. Inorganic
- 9.2.1.3. Eutectic
- 9.2.2. By Application (Value)
- 9.2.2.1. Building & Construction
- 9.2.2.2. HVAC
- 9.2.2.3. Cold Chain & Packaging
- 9.2.2.4. Thermal Energy Storage
- 9.2.2.5. Textiles
- 9.2.2.6. Electronics
- 9.2.2.7. Others
- 9.2.3. By Country (Value)
- 9.2.3.1. China
- 9.2.3.1.1. By Application (Value)
- 9.2.3.1.1.1. Building & Construction
- 9.2.3.1.1.2. HVAC
- 9.2.3.1.1.3. Cold Chain & Packaging
- 9.2.3.1.1.4. Thermal Energy Storage
- 9.2.3.1.1.5. Textiles
- 9.2.3.1.1.6. Electronics
- 9.2.3.1.1.7. Others
- 9.2.3.2. Japan
- 9.2.3.2.1. By Application (Value)
- 9.2.3.2.1.1. Building & Construction
- 9.2.3.2.1.2. HVAC
- 9.2.3.2.1.3. Cold Chain & Packaging
- 9.2.3.2.1.4. Thermal Energy Storage
- 9.2.3.2.1.5. Textiles
- 9.2.3.2.1.6. Electronics
- 9.2.3.2.1.7. Others
- 9.2.3.3. India
- 9.2.3.3.1. By Application (Value)
- 9.2.3.3.1.1. Building & Construction
- 9.2.3.3.1.2. HVAC
- 9.2.3.3.1.3. Cold Chain & Packaging
- 9.2.3.3.1.4. Thermal Energy Storage
- 9.2.3.3.1.5. Textiles
- 9.2.3.3.1.6. Electronics
- 9.2.3.3.1.7. Others
- 9.2.3.4. ASEAN
- 9.2.3.4.1. By Application (Value)
- 9.2.3.4.1.1. Building & Construction
- 9.2.3.4.1.2. HVAC
- 9.2.3.4.1.3. Cold Chain & Packaging
- 9.2.3.4.1.4. Thermal Energy Storage
- 9.2.3.4.1.5. Textiles
- 9.2.3.4.1.6. Electronics
- 9.2.3.4.1.7. Others
- 9.2.3.5. Rest of Asia Pacific
- 9.2.3.5.1. By Application (Value)
- 9.2.3.5.1.1. Building & Construction
- 9.2.3.5.1.2. HVAC
- 9.2.3.5.1.3. Cold Chain & Packaging
- 9.2.3.5.1.4. Thermal Energy Storage
- 9.2.3.5.1.5. Textiles
- 9.2.3.5.1.6. Electronics
- 9.2.3.5.1.7. Others
- 10. Latin America Phase Change Materials Market Analysis, Insights and Forecast, 2016-2027
- 10.1. Key Findings / Summary
- 10.2. Market Size Estimates and Forecast
- 10.2.1. By Type
- 10.2.1.1. Organic
- 10.2.1.2. Inorganic
- 10.2.1.3. Eutectic
- 10.2.2. By Application (Value)
- 10.2.2.1. Building & Construction
- 10.2.2.2. HVAC
- 10.2.2.3. Cold Chain & Packaging
- 10.2.2.4. Thermal Energy Storage
- 10.2.2.5. Textiles
- 10.2.2.6. Electronics
- 10.2.2.7. Others
- 10.2.3. By Country (Value)
- 10.2.3.1. Brazil
- 10.2.3.1.1. By Application (Value)
- 10.2.3.1.1.1. Building & Construction
- 10.2.3.1.1.2. HVAC
- 10.2.3.1.1.3. Cold Chain & Packaging
- 10.2.3.1.1.4. Thermal Energy Storage
- 10.2.3.1.1.5. Textiles
- 10.2.3.1.1.6. Electronics
- 10.2.3.1.1.7. Others
- 10.2.3.2. Mexico
- 10.2.3.2.1. By Application (Value)
- 10.2.3.2.1.1. Building & Construction
- 10.2.3.2.1.2. HVAC
- 10.2.3.2.1.3. Cold Chain & Packaging
- 10.2.3.2.1.4. Thermal Energy Storage
- 10.2.3.2.1.5. Textiles
- 10.2.3.2.1.6. Electronics
- 10.2.3.2.1.7. Others
- 10.2.3.3. Rest of Latin America
- 10.2.3.3.1. By Application (Value)
- 10.2.3.3.1.1. Building & Construction
- 10.2.3.3.1.2. HVAC
- 10.2.3.3.1.3. Cold Chain & Packaging
- 10.2.3.3.1.4. Thermal Energy Storage
- 10.2.3.3.1.5. Textiles
- 10.2.3.3.1.6. Electronics
- 10.2.3.3.1.7. Others
- 11. Middle East & Africa Phase Change Materials Market Analysis, Insights and Forecast, 2016-2027
- 11.1. Key Findings / Summary
- 11.2. Market Size Estimates and Forecast
- 11.2.1. By Type
- 11.2.1.1. Organic
- 11.2.1.2. Inorganic
- 11.2.1.3. Eutectic
- 11.2.2. By Application (Value)
- 11.2.2.1. Building & Construction
- 11.2.2.2. HVAC
- 11.2.2.3. Cold Chain & Packaging
- 11.2.2.4. Thermal Energy Storage
- 11.2.2.5. Textiles
- 11.2.2.6. Electronics
- 11.2.2.7. Others
- 11.2.3. By Country (Value)
- 11.2.3.1. GCC
- 11.2.3.1.1. By Application (Value)
- 11.2.3.1.1.1. Building & Construction
- 11.2.3.1.1.2. HVAC
- 11.2.3.1.1.3. Cold Chain & Packaging
- 11.2.3.1.1.4. Thermal Energy Storage
- 11.2.3.1.1.5. Textiles
- 11.2.3.1.1.6. Electronics
- 11.2.3.1.1.7. Others
- 11.2.3.2. South Africa
- 11.2.3.2.1. By Application (Value)
- 11.2.3.2.1.1. Building & Construction
- 11.2.3.2.1.2. HVAC
- 11.2.3.2.1.3. Cold Chain & Packaging
- 11.2.3.2.1.4. Thermal Energy Storage
- 11.2.3.2.1.5. Textiles
- 11.2.3.2.1.6. Electronics
- 11.2.3.2.1.7. Others
- 11.2.3.3. Rest of Middle East & Africa
- 11.2.3.3.1. By Application (Value)
- 11.2.3.3.1.1. Building & Construction
- 11.2.3.3.1.2. HVAC
- 11.2.3.3.1.3. Cold Chain & Packaging
- 11.2.3.3.1.4. Thermal Energy Storage
- 11.2.3.3.1.5. Textiles
- 11.2.3.3.1.6. Electronics
- 11.2.3.3.1.7. Others
- 12. Competitive Analysis
- 12.1. Business Strategies Adopted by Leading Players
- 12.2. Global Phase Change Materials Market Revenue Share/Ranking Analysis, By Key Manufacturer
- 13. Company Profiles
- 13.1. Global E Systems (Netherlands)
- 13.1.1. Overview
- 13.1.2. Description
- 13.1.3. Types Portfolio
- 13.1.4. Financials (As per Availaibity)
- 13.1.5. Recent Developments
- 13.2. PCM Products Ltd (United Kingdom)
- 13.2.1. Overview
- 13.2.2. Description
- 13.2.3. Types Portfolio
- 13.2.4. Financials (As per Availaibity)
- 13.2.5. Recent Developments
- 13.3. PURETEMP LLC (United States)
- 13.3.1. Overview
- 13.3.2. Description
- 13.3.3. Types Portfolio
- 13.3.4. Financials (As per Availaibity)
- 13.3.5. Recent Developments
- 13.4. Climator Sweden AB (Sweden)
- 13.4.1. Overview
- 13.4.2. Description
- 13.4.3. Types Portfolio
- 13.4.4. Financials (As per Availaibity)
- 13.4.5. Recent Developments
- 13.5. Croda International Plc (United Kingdom)
- 13.5.1. Overview
- 13.5.2. Description
- 13.5.3. Types Portfolio
- 13.5.4. Financials (As per Availaibity)
- 13.5.5. Recent Developments
- 13.6. Sasol (South Africa)
- 13.6.1. Overview
- 13.6.2. Description
- 13.6.3. Types Portfolio
- 13.6.4. Financials (As per Availaibity)
- 13.6.5. Recent Developments
- 13.7. Laird Technologies, Inc. (United States)
- 13.7.1. Overview
- 13.7.2. Description
- 13.7.3. Types Portfolio
- 13.7.4. Financials (As per Availaibity)
- 13.7.5. Recent Developments
- 13.8. Honeywell International Inc. (United States)
- 13.8.1. Overview
- 13.8.2. Description
- 13.8.3. Types Portfolio
- 13.8.4. Financials (As per Availaibity)
- 13.8.5. Recent Developments
- 13.9. Phase Change Solutions (United States)
- 13.9.1. Overview
- 13.9.2. Description
- 13.9.3. Types Portfolio
- 13.9.4. Financials (As per Availaibity)
- 13.9.5. Recent Developments
- 13.10. Cold Chain Technologies (United States)
- 13.10.1. Overview
- 13.10.2. Description
- 13.10.3. Types Portfolio
- 13.10.4. Financials (As per Availaibity)
- 13.10.5. Recent Developments
- 13.11. Other Key Players
- 13.11.1. Overview
- 13.11.2. Description
- 13.11.3. Types Portfolio
- 13.11.4. Financials (As per Availaibity)
- 13.11.5. Recent Developments
- 14. Appendix
Research Assistance
Download our eBook: How to Succeed Using Market Research
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook