Phase Change Material (PCM) Market to Reach $638.7 Million by 2022 - Analysis By Type, Application & Region

The phase change material (PCM) market is projected to reach USD 638.7 Million by 2022, at a CAGR of 17.66% from 2017 to 2022.The global PCM market is driven by the increased demand from end-use applications, such as building & construction; Heating, Ventilation and Air-Conditioning (HVAC); Thermal Energy Storage (TES); cold chain & packaging; refrigeration & equipment; textiles; and electronics. PCM are material that can store and release large amounts of heat/energy while maintaining a constant temperature. PCM are used to save energy, reduce operating cost, and provide temperature security.

The phase change material (PCM) market is projected to reach USD 638.7 Million by 2022, at a CAGR of 17.66% from 2017 to 2022.The global PCM market is driven by the increased demand from end-use applications, such as building & construction; Heating, Ventilation and Air-Conditioning (HVAC); Thermal Energy Storage (TES); cold chain & packaging; refrigeration & equipment; textiles; and electronics. PCM are material that can store and release large amounts of heat/energy while maintaining a constant temperature. PCM are used to save energy, reduce operating cost, and provide temperature security.

The inorganic PCM segment accounts for the largest share among all type segments. The market for inorganic PCM is estimated to grow owing to the increasing usage in various applications due to its good thermal conductivity, high latent heat of fusion, non-flammability, and low cost. Inorganic PCM finds usage in various applications such as TES, cold chain & packaging, HVAC, and refrigeration & equipment.

The building & construction application segment is expected to be the largest application segment of this market, owing to the stringent regulations regarding greenhouse gas emissions and increasing investments in net-zero energy or low carbon buildings in region such as Europe and North America. In addition, the growing demand for green buildings and presence of stringent building codes in region such as North America and Europe boost the PCM market in building & construction application.

The European region is the largest market for PCM, in terms of both value and volume. The presence of strict building energy codes, accompanied by the European Union Directives to improve efficiency in buildings and regulations regarding the usage and handling of temperature sensitive goods drives the demand for PCM in the region. Strong demand for PCM from housing sector in countries such as Germany is another reason for the growth of the PCM market in this region. In addition, the presence of some of the major market players, such as Laird Plc (UK), Croda International Plc. (UK), Rubitherm Technologies GmbH (Germany), Phase Change Materials Products Ltd. (UK), Henkel AG & Company, KGaA (Germany), Advansa BV (Netherlands), Climator Sweden AB (Sweden), Datum Phase Change Limited (UK), Global E-Systems Europe B.V. (Netherlands), Iolitec Ionic Liquids Technologies GmbH (Germany), and Salca BV (Netherlands), drives the market for PCM in the region.

Companies Mentioned

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Advanced PCM Market, By Type

7 Advanced PCM Market, By Application

8 Advanced PCM Market, By Region

9 Competitive Landscape

10 Company Profiles

11 Appendix

For more information about this report visit https://www.researchandmarkets.com/research/lx4d8l/phase_change

Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716