Advanced Phase Change Materials (PCM) Market Share, Size, Trends, Industry Analysis Report, By Product (Paraffin Wax, Salt Hydrates, Others); By Application (Organic, Inorganic, Eutectic); By Type; By Region; Segment Forecast, 2022 - 2030
The global Advanced Phase Change Materials (PCM) market size is expected to reach USD 3.87 billion by 2030, according to a new study by Polaris Market Research. The report “Advanced Phase Change Materials (PCM) Market Share, Size, Trends, Industry Analysis Report, By Product (Paraffin Wax, Salt Hydrates, Others); By Application (Organic, Inorganic, Eutectic); By Type; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Reduced demand for traditional resources and an increasing focus on reducing greenhouse gas emissions are expected to boost product market demand. Over the forecast period, rising demand for energy-efficient green buildings, combined with a growing emphasis on enhancing the indoor environment and increasing building inertia, will likely boost product demand. The market is expected to grow due to a growing focus on strict execution of environmental rules and increased investment in developing environmentally friendly bio-based advanced phase transition resources.
Global energy demand is quickly rising, and increased consumption of fossil fuels results in increased emissions of greenhouse gases, mainly carbon dioxide (CO2). These gases lead to severe environmental consequences such as ozone layer depletion, global warming, and climate variability. The building industry accounts for more than 30% of worldwide energy demand. According to the International Energy Agency, the sector is responsible for nearly 30% of overall CO2 emissions.
The changing preferences drive the energy consumption for living and comfort needs across locations with varying temperatures. As a result, at the regional, national, and international levels, green technology in buildings is the primary emphasis of energy policy. The development of innovative building materials capable of improving energy usage in buildings is gaining pace in the manufacturing industries. As a result, PCMs are seen as essential tools for increasing energy efficiency and maximizing energy savings.
Advanced Phase Change Materials (PCM) Market Report Highlights
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