Dublin, June 20, 2023 (GLOBE NEWSWIRE) -- The "Advanced Phase Change Materials (PCM): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Advanced Phase Change Materials (PCM) Market to Reach $6.3 Billion by 2030
The global market for Advanced Phase Change Materials (PCM) estimated at US$1.5 Billion in the year 2022, is projected to reach a revised size of US$6.3 Billion by 2030, growing at a CAGR of 19.8% over the analysis period 2022-2030.
Organic, one of the segments analyzed in the report, is projected to record 18.1% CAGR and reach US$2 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Inorganic segment is readjusted to a revised 20.7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $501.8 Million, While China is Forecast to Grow at 21.2% CAGR
The Advanced Phase Change Materials (PCM) market in the U.S. is estimated at US$501.8 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$812 Million by the year 2030 trailing a CAGR of 21.2% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 16.2% and 18.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 17.9% CAGR.
Looking Ahead to 2023
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.
Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.
Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
- Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and Research Platform
- Complimentary updates for one year
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 385 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.5 Billion |
| Forecasted Market Value (USD) by 2030 | $6.3 Billion |
| Compound Annual Growth Rate | 19.6% |
| Regions Covered | Global |
MARKET OVERVIEW
- Advanced Phase Change Materials (PCM) - Global Key Competitors Percentage Market Share in 2022 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
- Pandemic Impacts Growth in Advanced Phase Change Materials (PCM) Market
- An Introduction to Advanced Phase Change Materials (PCM)
- Types of Advanced Phase Change Materials
- Comparison of Characteristics of Bio-based PCM, Paraffin PCM and Salt Hydrate PCM
- Key features of Various PCM Types
- Global Market Prospects & Outlook
- Inorganic Advanced PCMs Lead Global Market
- Building & Construction: The Leading Application Market
- Developed Regions Lead, Developing Economies Promise Growth
- Competition
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Growing Demand for Energy Efficient Technology & Rising Emphasis on Energy Conservation Drive Focus onto APCM
- Regulations to Reduce Greenhouse Gas Emissions: Opportunity for Advanced PCMs Market
- Global CO2 Emissions in Billion Metric Tons of CO2 Per Year
- Domestic Targets for Greenhouse Gas Emissions of Select Regions/ Countries
- Building & Construction: A Major Application Market for Advanced Phase Change Materials
- Composition, Melting temperature and Melting Heat of PCMs in Building Applications
- How Buildings Contribute Towards Climate Change
- Emphasis on Energy-Efficient, Green, LEED Buildings Builds Fertile Environment for Advanced PCM Market
- Growing Relevance of Zero Energy Building Constructions to Propel Demand for Advanced PCMs
- Building Energy Efficiency Codes & Standards, Efficiency Improvement Targets, Incentives & Supporting Polices Lay the Foundation for Growth
- Energy Efficiency Codes & Standards for Existing Buildings
- Government Measures to Support Migration to Net Zero Energy Buildings
- How the Construction Industry is Impacted by the Pandemic & What's the New Normal?
- Transportation Of Temperature-Sensitive Goods Drives Demand for Advanced PCMs in Shipping & Transportation
- Need for Cold Chain Logistics Propels Outlook for Advanced PCMs
- Vaccines Make Cold Chain Highly Relevant in Pharmaceutical Logistics
- Demand for Efficient Thermal Insulation Materials in HVAC and Refrigeration Applications Propels Growth
- Global Heating, Ventilation and Air conditioning (HVAC) Systems Market Size (in US$ Million) by Region/Country for 2019 and 2024
- Rising Significance of Advanced Phase Change Materials for Thermal Energy Storage Systems
- Despite Competition from Latent Heat Storage, Sensible Heat Technology Sustains Dominance
- Various Thermal Storage Technologies: Brief Details of Efficiency, Storage Time, Power and Capacity
- PCM Systems Poised for High Growth in Thermal Energy Storage Market
- Need for Improved Energy Management and Resultant Importance of TES Systems to Drive Market Gains
- Growing Investments in Renewable Energy Fuel Demand for TES Solutions
- Bio-Based PCMs Emerge for TES Applications
- Expanding Applications of Advanced Phase Change Materials (PCM) in Textile Industry
- Pandemic's Impact on Textile Industry Affects Market Prospects
- Robust Growth in Smart Textiles Industry to Drive Demand for Advanced PCM
- Advanced PCMs Find Growing Use of Electronics Equipment & Components
- Benefits of Advanced PCMs for Electronic Devices
- PCM Applications in Electronics Industry
- PCMs Help in Thermal Management of Electronic Devices
- Pandemic Causes Significant Disruption to Electrical & Electronics Equipment Market
- Global Electrical & Electronics Equipment Market Growth Outlook (In %) for Years 2019 through 2025
- Technological Developments in Advanced PCM Market to Boost Market Prospects
- Bio-Based PCM Poised for High Growth
- Microencapsulated PCM Regulate Temperature in Building & Construction, Textile Applications
- Expanding Population and Urbanization Trend Boost Market Outlook
- Major Challenges Facing Advanced PCMs Market
FOCUS ON SELECT PLAYERS (Total 55 Featured)
- Climator SWEDEN AB
- Cold Chain Technologies, Inc.
- Croda International Plc
- Cryopak Industries, Inc.
- Henkel AG & Co.KGaA
- Honeywell International Inc.
- Microtek Laboratories, Inc.
- PCM Products Ltd.
- Phase Change Solutions, Inc.
- Pluss Advanced Technologies Pvt. Ltd.
- PureTemp LLC
- Rubitherm Technologies GmbH
- Sasol Limited
For more information about this report visit https://www.researchandmarkets.com/r/nyashe
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