Advanced Phase Change Materials (PCM)

Advanced Phase Change Materials (PCM)

Global Advanced Phase Change Materials (PCM) Market to Reach US$6.3 Billion by 2030

The global market for Advanced Phase Change Materials (PCM) estimated at US$1.8 Billion in the year 2023, is expected to reach US$6.3 Billion by 2030, growing at a CAGR of 19.9% over the analysis period 2023-2030. Organic PCM, one of the segments analyzed in the report, is expected to record a 18.2% CAGR and reach US$2.0 Billion by the end of the analysis period. Growth in the Inorganic PCM segment is estimated at 20.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$610.6 Million While China is Forecast to Grow at 21.3% CAGR

The Advanced Phase Change Materials (PCM) market in the U.S. is estimated at US$610.6 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$812.0 Million by the year 2030 trailing a CAGR of 21.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 16.3% and 19.0% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 17.9% CAGR.

Global Advanced Phase Change Materials (PCM) Market - Key Trends & Drivers Summarized

Advanced Phase Change Materials (PCMs) are substances with a high capacity to store and release heat during phase transitions between solid and liquid states. These materials are designed to absorb, store, or release large amounts of energy while maintaining a relatively constant temperature. Commonly used PCMs include paraffin waxes, fatty acids, and salt hydrates, which are selected based on their melting point, thermal conductivity, density, and stability. The utility of PCMs spans across various industries such as building and construction, HVAC (heating, ventilation, and air conditioning), textiles, and energy storage, where they are used to enhance energy efficiency by regulating temperature variations in environments and systems.

The application of advanced PCMs is particularly transformative in the building and construction sector and energy storage systems. In buildings, PCMs are incorporated into walls, floors, and roofs to absorb excess heat during the day and release it at night, thus stabilizing indoor temperatures and reducing reliance on conventional heating and cooling systems. This not only improves comfort but also significantly cuts down energy costs and carbon emissions. In energy systems, PCMs are used to regulate the temperature and efficiency of thermal energy storage systems, including solar power plants where they help in managing the heat derived from solar energy. Additionally, the textile industry has seen innovations with PCMs being embedded in fabrics to create garments that maintain comfortable body temperatures, hence enhancing wearer comfort in varying climatic conditions.

The growth in the Advanced Phase Change Materials market is driven by several factors, including technological advancements, increased environmental awareness, and stringent regulatory policies aimed at reducing energy consumption and greenhouse gas emissions. Innovations in material science have led to the development of bio-based PCMs and enhanced composite materials that offer better thermal stability, higher heat storage capacity, and reduced cost. The growing demand for sustainable building solutions and renewable energy sources has also propelled the use of PCMs in green buildings and renewable energy projects. Additionally, consumer behavior trends towards energy-efficient and sustainable products are further influencing the adoption of PCMs in various end-use sectors.

Select Competitors (Total 55 Featured) -

• Honeywell International, Inc.
• Croda International PLC
• AI Technology, Inc.
• Boyd Corporation
• KERAFOL Keramische Folien GmbH & Co. KG
• Climator Sweden AB
• Cold Chain Technologies
• Cryopak
• Encapsys LLC
• Iolitec-Ionic Liquids Technologies GmbH
• Acuro Organics Limited
• Insolcorp, Inc.
• CIAT Group
• Inmark, LLC
• Axiotherm

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