Phase Change Materials Market size to exceed $4.2bn by 2024

Phase Change Materials Market size is forecast to reach USD 4.2 billion by 2024; according to a new research report by Global Market Insights, Inc.
 

Rising environmental concerns and focus towards reducing energy consumption in buildings has given rise to adoption and implementation green buildings initiatives across the globe. This will contribute towards the phase change materials market growth rate. According to European Commission, the total space heating load in whole EU is 2823 TWh in 2016. Around 60% of this comes from residential sector and 25% comes from commercial rest is from industries. The energy consumption is rising globally and as a result of this the greenhouse gas emission are also rising. It has increased by 7.7% from 1990 to 2014, making it mandatory to find ways to reduce the energy consumption and greenhouse gas emissions.


 

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Developing countries such as South Africa, Mexico, India, Brazil, have green building activity more than the global average of 24% indicating that the phase change materials market demand is increasing gradually there. The use of PCM for such applications is evident as they control temperature by utilizing latent heat generated from phase change. These materials also help in earning more carbon credits with respect to other green insulation materials if applied in HVAC, buildings and construction applications.
 

U.S. Phase Change Materials Market Share, by Crop, 2013 - 2024 (USD Million)
Phase Change Materials Market

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Browse key industry insights spread across 350 pages with 400 market data tables & 26 figures & charts from the report, “Phase Change Materials Market Size By Product (Paraffin, Non-Paraffin, Salt Hydrates, Eutectics), By End-user (Building & Construction, HVAC, Electrical & Electronics, Packaging, Textiles, Chemical, Healthcare, Aerospace & Automotive) Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, Australia, Malaysia, Indonesia, South Korea, Brazil, Mexico, South Africa, Saudi Arabia, UAE, Kuwait), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/phase-change-material-market
 

Salt hydrates phase change materials market product segment is projected to generate revenue of about USD 270 million by the end of forecast time period. The segment also shows significant CAGR of around 16% from 2017 to 2024. The product comprises of water and inorganic salts making them less expensive and easily available in market. Salt hydrates have certain properties such as very small volume change and good thermal conductivity. This makes them preferred choice over other PCM materials such as non-paraffins and paraffins. The bio-based materials are also gaining popularity in packaging and textile industry all-round the globe. These products are based on vegetables, providing various environmental and social benefits.
 

Textile industry holds around 14% of the global phase change materials market share. The product is used in the spacesuits for astronauts and in the clothes of scientists living in the harsh terrains of Antarctica. These products are combination of various paraffins which have different melting and crystallization point. These are microencapsulated in order to prevent leakage in the liquid state. HVAC segment worth around USD 700 million by the end of forecast time spell, it is also expected that they will show significant CAGR in Europe and North America.
 

Europe and North America are the major region where the demand of these materials is more. This is due to advanced techniques/systems along with presence of regulations with emphasis on reducing hazardous emissions. The product helps in improving energy efficiency of the structures. All these trends together will drive market towards positive direction in near future.
 

The major companies present in the phase change materials market share are The Dow Chemical Company, BASF SE, Croda International Plc, Henkel, Laird Plc, Entropy Solutions LLC, Cryopak, Sasol, Phase Change Products Pty Ltd., etc.
 

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Phase change materials research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:
 

Phase Change Materials Market, Product by End-use

  • Paraffin
    • Building & construction
    • HVAC
    • Electrical & electronics
    • Packaging
    • Textiles
    • Chemical industries
    • Healthcare
    • Aerospace & automotive
    • Others
  • Non-Paraffin
    • Building & construction
    • HVAC
    • Electrical & electronics
    • Packaging
    • Textiles
    • Chemical industries
    • Healthcare
    • Aerospace & automotive
    • Others
  • Salt hydrates
    • Building & construction
    • HVAC
    • Electrical & electronics
    • Packaging
    • Textiles
    • Chemical industries
    • Healthcare
    • Aerospace & automotive
    • Others
  • Eutectics
    • Building & construction
    • HVAC
    • Electrical & electronics
    • Packaging
    • Textiles
    • Chemical industries
    • Healthcare
    • Aerospace & automotive
    • Others
  • Others
    • Building & construction
    • HVAC
    • Electrical & electronics
    • Packaging
    • Textiles
    • Chemical industries
    • Healthcare
    • Aerospace & automotive
    • Others

Phase Change Materials Market Size, By End-user

  • Building & construction
  • HVAC
  • Electrical & electronics
  • Packaging
  • Textiles
  • Chemical industries
  • Healthcare
  • Aerospace & automotive
  • Others

The above information is provided on a regional and country basis for the following:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • Indonesia
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • South Africa
    • Saudi Arabia
    • UAE
    • Kuwait

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