Pune, India, Aug. 02, 2022 (GLOBE NEWSWIRE) -- The global phase change materials market size is expected to experience significant growth by reaching USD 4,174.8 million by 2027. This is attributable to the increasing adoption of phase change materials in manufacturing building materials and the stringent imposition of environmental laws to reduce greenhouse gases emissions globally. Fortune Business Insights, in its latest report, titled, “Phase Change Materials Market Size, Share & COVID-19 Impact Analysis, and Regional Forecast, 2020-2027.”, mentions that the market stood at USD 1,157.6 million in 2019 and is likely to exhibit an impressive CAGR of 21.0% between 2020 and 2027.
Get a Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/phase-change-materials-market-104848
Major Players Profiled in the Phase Change Materials Market Report:
- Global E Systems (Netherlands)
- PCM Products Ltd (United Kingdom)
- PURETEMP LLC (United States)
- Climator Sweden AB (Sweden)
- Croda International Plc (United Kingdom)
- Sasol (South Africa)
- Laird Technologies, Inc. (United States)
- Honeywell International Inc. (United States)
- Phase Change Solutions (United States)
- Cold Chain Technologies (United States)
- Other Key Players
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021-2027 |
| Forecast CAGR | 21.0% |
| 2027 Value Projection | USD 4,174.8 million |
| Base Year | 2021 |
| Phase Change Materials Market Size in 2019 | USD 1,157.6 million |
| Historical Data | 2016-2018 |
| No. of Pages | 170 |
| Segments Covered | Type, End-user and Regional |
| Phase Change Materials Market Growth Drivers | PCMs are used in walls, floors, roofs, or other building materials (such as shutters and windows) across housing infrastructure. |
| Wallboards or plasterboards are suitable components for the incorporation of phase change materials. |
What does the Report Include?
The market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
Inquire Before Buying Report: https://www.fortunebusinessinsights.com/enquiry/queries/phase-change-materials-market-104848
DRIVING FACTORS
Increasing Adoption of Phase Change Materials in Building Materials to Spur Demand
Phase changes materials are extensively adopted due to them providing superior thermal regulation properties that aid in improving the heating and cooling qualities of residential and commercial spaces. Therefore, they are widely adopted in manufacturing building materials across the globe. According to the Technology Strategy Board, in the U.K. about 45% of the total carbon emission is due to the operation, construction, and maintenance of buildings and other infrastructure. Owing to the rising carbon emissions, stringent emission norms have been implemented by the global government agencies to reduce greenhouse gas effects that are likely to propel the demand, thereby driving the phase change materials market growth during the forecast period.
SEGMENTATION
Organic PCM Segment to Hold Largest Market Share
Based on type, the organic PCM segment is expected to hold the largest market share in terms of revenue owing to their several benefits such as lower density, specific temperature, lower cost, high latent heat, and thermal stability.
REGIONAL INSIGHTS
Europe to Remain Dominant, Increasing Focus on Green Construction to Propel Growth
Among all the regions, Europe is expected to remain dominant and hold the highest position in the global market in the forthcoming years. This dominance is attributable to the increasing focus on green construction with an aim to lower the carbon emissions from the building and construction sector in the region between 2020 and 2027. Europe stood at USD 443.4 million in 2019.
The market in Asia-Pacific is expected to rise at a considerable phase change materials market share and gain momentum due to the presence of several cold chain packaging industries that is likely to boost the adoption of advanced phase change materials in the region.
COMPETITIVE LANDSCAPE
Contract Signing by Prominent Companies to Augur Market Growth
The global market for phase change materials is experiencing high competition from the players present in it that are focusing on signing lucrative contracts to expand their product portfolio. Moreover, other key players are striving to maintain their presence by focusing on leveraging the market opportunities by following organic and inorganic strategies in the forthcoming years.
Get Your Customization Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/phase-change-materials-market-104848
Industry Development:
- April 2020 - Rubitherm Technologies introduced a new air-guided ventilation PCM, PhaseCube. According to the company, the phase change material is available in different sizes with varied temperature levels and efficiently adapts to the specific requirement of the client’s system.
Read Related Insights:
Dental Materials Market Size, Share & COVID-19 Impact Analysis, By Type (Metallic Biomaterials, Ceramic Biomaterials, Polymers, Natural Biomaterials, and Others), By Application (Implant, Prosthetics, and Orthodontics), By End User (Dental Product Manufacturers, Dental Laboratories, and Others), and Regional Forecast, 2020-2027
Material Handling Equipment Market Size, Share & COVID-19 Impact Analysis, By Equipment Type (Transport Equipment, Positioning Equipment, Storage Equipment, Others (Unit Load Formation Equipment, Identification, and Control Equipment), By Industry (Consumer Goods & Electronics, Automotive, Food & Beverages, Pharmaceutical, Construction, Mining, Semiconductors, Others (Aviation, Chemicals), and Regional Forecast, 2022-2029
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
U.S.:+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
