Today's News Releases
| Submit Press Release
| Submit Website
(IndustryNews247.Com, November 30, 2022 ) The report "Phase Change Material Market by type (Inorganic, Organic), Application (Building &Construction, HVAC, Cold Chain &Packaging, Electronics, Textile) and Region (North America, Europe, APAC, Rest of World) - Global Forecasts to 2026" The market is projected to reach USD 1,004 million by 2026, at a CAGR of 16.0% from USD 477 million in 2021.
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1087
This growth is primarily triggered by the increasing demand for energy savings and regulations for reduction of greenhouse gas emission. Europe is the largest phase change material market due to the demand from the building & construction application and stringent government regulations regarding carbon emissions. The initiatives of governments for the construction of green buildings boosted market growth as phase change material helps in saving carbon credits allotted to each building. The cost of energy is also high in Europe, which drives demand for phase change material in the region
Organic was the largest phase change material type of phase change material market.
The organic PCM market is majorly segregated into paraffin and non-paraffin based PCMs. Paraffin based PCMs are commonly used across various applications. Organic PCMs majorly constitute paraffin- and fatty acid-based PCMs derived from non-renewable sources, such as crude oil and slack wax. The advantages of organic-based PCMs include chemical stability, non-corrosive and non-toxic properties, high latent heat of fusion, and almost negligible super cooling. Another key advantage of organic PCMs is that they can be microencapsulated, which makes them viable in various applications, such as textiles and thermal energy storage (TES) applications, among others
Building & Construction is estimated to be the second-largest application of the phase change material market during the forecast period.
Building & construction refers to new building development and construction activities in the study. This segment forms a major application of phase change materials, due to the increasing need for temperature control in buildings, and the construction industry’s trend of using modern & lightweight architecture. The use of phase change materials in building applications has been commercialized only recently. In the building & construction application, phase change materials are used to make insulating panels, paints, wall coverings, roofing panels, playing fields, and raised floor panels. The use of phase change materials in buildings offers a number of advantages, such as lightweight architecture and low cooling & heating needs, resulting in energy saving and comfort.
Don't miss out on business opportunities in Phase Change Material Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=1087
Browse And In-Depth TOC On "Phase Change Material Market”
241 - Market Data Tables
66 - Figures
252 - Pages
North America is projected to be the fastest growing market for phase change material during the forecast period.
The Growth of the North American phase change material market is driven majorly by initiatives taken by bodies such as the Emerging Technologies Coordinating Council and the National Renewable Energy Laboratory (NREL) of the US Department of Energy (DoE). These institutes help market players in incorporating phase change materials in their products by performing tasks, such as site selection, coordination, and evaluation of tests on technology performance, risks, and costs. Phase change material-based products have a strong demand in the region. The retrofit market, growth in the construction industry, development of green buildings, and increase in energy efficiency codes and building specifications are expected to drive the phase change material market in the region.
The key market players profiled in the report include PureTemp LLC (US), Climator Sweden AB (Sweden), and Croda International Plc. (UK), Henkel AG & Company KGAA (Germany), Outlast Technologies LLC (US), Advansa B.V. (The Netherlands), AI Technology Inc. (US), CoolComposites Inc. (US), Cryopak Inc. (Canada), Datum Phase Change Ltd. (UK), IoLiTec-Ionic Liquids Technologies GmbH (Germany) among others.
Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1087
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Mr. Aashish Mehra
Industrial News TV