Global Advanced Phase Change Materials (PCM) Market Growth 2023-2029

Global Advanced Phase Change Materials (PCM) Market Growth 2023-2029

Phase change materials (PCMs) are substances with a high enthalpy of fusion, also known as latent heat, meaning they can store large quantities of heat energy as they change phase. When melting, they absorb heat and maintain the temperature of the environment at a certain value until completely molten. When the temperature of the environment falls below the crystallisation temperature, the PCM will start to solidify, releasing large quantities of heat and maintaining the temperature until completely solid.

Latent heat storage can be achieved through liquid–>solid, solid–>liquid, solid–>gas and liquid–>gas phase changes. However, only solid–>liquid and liquid–>solid phase changes are practical for PCMs. Although liquid–gas transitions have a higher heat of transformation than solid–liquid transitions, liquid->gas phase changes are impractical for thermal storage because large volumes or high pressures are required to store the materials in their gas phase. Solid–solid phase changes are typically very slow and have a relatively low heat of transformation.

Phase change materials are products that release or absorb heat when they change from one phase to another (usually from solid to liquid or vice versa). These materials store thermal energy in the form of latent heat, which is released when they freeze or crystallize and absorbed when they melt at their respective melting/freezing temperature points. Hence, they are used in a broad range of applications that require thermal control and management.

Based on the technology of the material used, advanced PCM are broadly categorized as inorganic PCM, organic PCM and Bio-based PCM.

LPI (LP Information)' newest research report, the “Advanced Phase Change Materials (PCM) Industry Forecast” looks at past sales and reviews total world Advanced Phase Change Materials (PCM) sales in 2022, providing a comprehensive analysis by region and market sector of projected Advanced Phase Change Materials (PCM) sales for 2023 through 2029. With Advanced Phase Change Materials (PCM) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Advanced Phase Change Materials (PCM) industry.

This Insight Report provides a comprehensive analysis of the global Advanced Phase Change Materials (PCM) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Advanced Phase Change Materials (PCM) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Advanced Phase Change Materials (PCM) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Advanced Phase Change Materials (PCM) and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Advanced Phase Change Materials (PCM).

The global Advanced Phase Change Materials (PCM) market size is projected to grow from US$ 1439.1 million in 2022 to US$ 3250.6 million in 2029; it is expected to grow at a CAGR of 3250.6 from 2023 to 2029.

Currently, The industry concentration is not high, the technical barriers and financial barriers of Advanced Phase Change Materials (PCM) are also not high. The companies in the world that produce Advanced Phase Change Materials (PCM) mainly concentrate in China, India, Southeast Asia, Europe, Japan and USA. Raw materials are also concentrated in these regions. In particular, as the market leader in Advanced Phase Change Materials (PCM), BASF take the global market share of about 9%, other key manufacturers include Honeywell, Cryopak Entropy Solutions Inc., Climator Sweden AB, Phase Change Energy Solutions, Outlast Technologies, Dow Building Solutions, Chemours Company, PCM Energy Ltd and Rubitherm.

This report presents a comprehensive overview, market shares, and growth opportunities of Advanced Phase Change Materials (PCM) market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Organic

Inorganic

Bio-Based

Segmentation by application

Building & Construction

Refrigeration

Consumer Goods

Others

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

BASF

Honeywell

Cryopak

Entropy Solutions Inc.

Climator Sweden AB

Phase Change Energy Solutions

Outlast Technologies

Dow Building Solutions

Chemours Company

PCM Energy Ltd

Rubitherm Technologies GmbH

Key Questions Addressed in this Report

What is the 10-year outlook for the global Advanced Phase Change Materials (PCM) market?

What factors are driving Advanced Phase Change Materials (PCM) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Advanced Phase Change Materials (PCM) market opportunities vary by end market size?

How does Advanced Phase Change Materials (PCM) break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.