North America Advanced Phase Change Materials Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

North America Advanced Phase Change Materials Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview 2023-2028:

The North America advanced phase change materials market size reached US$ 636 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,598 Million by 2028, exhibiting a growth rate (CAGR) of 16.7% during 2023-2028.

The advanced phase change materials (PCMs) refer to the elements with a capability to store latent heat emitted during distinctive phase transitions. At a commercial level, they store latent heat released during the solid-liquid phase transition. Advanced phase change materials enhance the heat storage capacity of buildings and are highly efficient in power distribution and generation systems. They are employed for cooling electrical engines, foods and drinks, maintaining high temperatures in greenhouses and conditioning of buildings.

North America represents one of the largest advanced phase change materials market owing to the highly developed manufacturing industries for electric and electronic devices. These devices use advanced PCMs pertaining to their high latent heat of fusion, specific heat, thermal stability and thermal conductivity in both solid and liquid phases. Several initiatives by government institutions, such as Department of Energy, are taken for the assessment of costs, risks and technology performance of advanced PCMs for their wide application in the region. Availability of these materials at affordable prices and their potential to provide zero net energy buildings will continue to spur the demand in the upcoming years.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the North America advanced phase change materials market report, along with forecasts at the regional and country levels from 2023-2028. Our report has categorized the market based on type, form and application.

Key Regions Analysed
United States
Canada
Mexico

Analysis for Each Country

Market by Type
Organic PCM
Inorganic PCM
Bio-Based PCM

Market by Form
Encapsulated
Non-Encapsulated

Market by Application
Building and Construction
Packaging
HVAC
Textiles
Electronics
Others

Value Chain Analysis
Key Drivers and Challenges
Porters Five Forces Analysis
PESTEL Analysis
Government Regulations
Competitive Landscape
Competitive Structure
Key Player Profiles

Key Questions Answered in This Report:
How has the North America advanced phase change materials market performed so far and how will it perform in the coming years?
What are the key regions in the North America advanced phase change materials market?
What has been the impact of COVID-19 on the North America advanced phase change materials market?
What is the breakup of the North America advanced phase change materials market on the basis of type?
What is the breakup of the North America advanced phase change materials market on the basis of form?
What is the breakup of the North America advanced phase change materials market on the basis of application?
What are the various stages in the value chain of the North America advanced phase change materials industry?
What are the key driving factors and challenges in the North America advanced phase change materials industry?
What is the structure of the North America advanced phase change materials industry and who are the key players?
What is the degree of competition in the North America advanced phase change materials industry?
What are the profit margins in the North America advanced phase change materials industry?