Global Phase Change Materials Market Report 2021 – Opportunities And Strategies, Market Forecast And Trends
The Global Phase Change Materials Market Report by The Business Research Company covers phase change materials market drivers and restraints, phase change materials market size, major players, and the impact of COVID-19 on the phase change materials market.
The phase change materials market consists of sales of phase change materials by entities (organizations, sole traders, and partnerships) which are ideal products for thermal management solutions. Phase change materials are the substances that absorb or release heat when the substance undergoes a physical state such as solid to liquid or gaseous. Phase change materials are also known as latent heat storage units, commonly used in solar power plants, waste heat recovery systems, preservation of food, pharmaceutical products, and construction.
The global phase change materials market is expected to grow from $0.94 billion in 2020 to $1.04 billion in 2021 at a compound annual growth rate (CAGR) of 11.4%. The growth in the phase change market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The phase change market is expected to reach $2.16 billion in 2025 at a CAGR of 19.9%.
The growing construction industry across the globe is contributing to the growth of the phase change materials market in the forecast period. Phase change materials are used in a variety of places during the construction of a building, such as roofs, floors, and electrical appliances, and they are also used to reduce temperature fluctuations in the internal environment by storing latent heat while material transitions from solid to liquid. The rapid growth in the urban population is expected to increase the demand for new residential and commercial buildings during the forecast period.
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Some phase change materials market trends include the introduction of bio-based phase change material fabric coatings. Bio-based phase change materials are manufactured using bio-based products such as beef tallow or oils from coconut, palm, and soybeans.
Global phase change materials market segments include:
1) By Type: Organic, Inorganic, Bio-Based
2) By Encapsulation Technology: Macro, Micro, Molecular
3) By Product: Paraffin, Non-Paraffin, Salt Hydrates, Eutectics
4) By End-User: Building And Construction, Packaging, Textiles, Electronics, Transportation, Others
5) By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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The Phase Change Materials Global Market Report 2021: COVID-19 Growth and Change is one of a series of new reports from The Business Research Company that provides phase change materials market overviews, analyzes and forecasts market size, share, phase change materials market players, phase change materials market segments and geographies, market’s leading competitors’ revenues, profiles and market shares.
The phase change materials identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Phase Change Materials Global Market Report 2021: COVID-19 Growth and Change from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Market Players Covered: Honeywell Electronic Materials Inc, Microtek Laboratories, Croda International, Sasol, Henkel, Climator, PCM Products, Phase Change Energy Solutions, Rubitherm Technologies, Cryopak, Outlast Technologies, Dupont, Dow Chemical Company, BASF, Puretemp, Pluss Advanced Technologies, and Cold Chain Technologies.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
Other Information And Analyses: SWOT analysis, customer information, market product/service analysis – product examples, trends and opportunities, drivers and restraints, key mergers and acquisitions, suggested trend based strategies, impact of COVID-19 on the market, future outlook and potential analysis, key metrics covered: number of enterprises, number of employees, global market in 2021 – countries offering most new opportunities, conclusions and recommendations by expert analysts.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Phase Change Materials Industry: The report explains a number of strategies for companies in the market, based on industry trends and company analysis.
Opportunities For Companies In The Phase Change Materials Sector: The report reveals where the global industry will put on most $ sales up to 2023.
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