The Report Titled on “Global Phase Change Materials Market – Segmented by Product Type, End-User, Encapsulation Technology and Geography – Growth, Trends and Forecasts (2019 – 2023)”, Delivers Information studies of the current situation (with the base year being 2019) and the growth prospects of global Phase Change Materials Forecast market 2019-2023.
“Phase Change Materials Market Report 2019-2023” helps the consumer to take business decisions and to understand strategies of major players in the industry. The report also calls for market-determined results deriving feasibility survey for consumer needs. Global Phase Change Materials Market Report ensures qualified and verifiable aspects of market data operating in the real-time scenario. The analytical studies are conducted ensuring consumer needs with a complete understanding of market capacities in the real-time scenario.
The Key Players covered in this study:-
DOW CORNING, MICROTEK LABORATORIES, HENKEL, CRODA, TCP,PARKER ,AI TECHNOLOGY INC., CLIMATOR SWEDEN ABM COSELLA-DÃRKEN PRODUCTS INC., DATUM PHASE CHANGE LTD., E. I. DU PONT DE NEMOURS AND COMPANY (DUPONT), VESTURE CORPORATION, SCHOELLER TEXTILES AG, PCM PRODUCTS LTD., PHASE CHANGE ENERGY SOLUTIONS INC. (PCES), PHASE CHANGE PRODUCTS PTY LTD (PCP), PLUSS POLYMERS PVT. LTD., RUBITHERM TECHNOLOGIES LTD., 7 SHENZHEN AOCHUAN TECHNOLOGY CO., LTD, SHIN-ETSU CHEMICAL CO., LTD., APPVION, INC., ENTROPY SOLUTIONS LLC, KAPLAN ENERGY, AAVID KUNZE GMBH, LAIRD TECHNOLOGIES, LAMINAR MEDICA LIMITED, NATIONAL GYPSUM COMPANY, OUTLAST TECHNOLOGIES LLC, and THERMAX GLOBAL.
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Overview of Phase Change Materials Market Report:
The global phase change materials chemicals market has been estimated at USD 917.08 million in 2017. The market is expected to register a CAGR of 19.90% during the forecast period, 2019 to 2023. The building and construction sector dominated the global construction chemicals market with nearly 37% share globally and is estimated to register the fastest CAGR through the forecast period.
Growing Demand in Asia-Pacific
Construction sector in Asia-Pacific is the largest in the world. The increasing infrastructure construction activities are the major drivers for the Asia-Pacific construction industry. In addition, the entry of major construction players from the EU into the lucrative market in countries like China, has further fueled the industryâs growth. Owing to their business potential, countries, such as Indonesia, China, Malaysia, Singapore, and South Korea have become hosts to numerous national and international events. The move has accelerated the demand for hotels, shopping malls, high-rise buildings, arenas, and stadiums (both outdoor and indoor), thereby, boosting the construction industry in the respective regions. Moreover, PCM consumption is increasing slowly in the countryâs textile industry as well. The total number of patents in the country are also increasing. Hence, the PCM market has growth potential during the forecast period.
Phase change materials can be incorporated easily and economically into construction materials, such as concrete. By coating a microscopic-sized phase change material with a protective coating, the particles can be suspended within a continuous phase, such as water. The benefit of PCMs over other thermally massive materials are that, they are far lighter, storing relatively large amounts of heat per unit of volume. Further, they can easily be installed as part of a refurbishment program, to increase the thermal mass of lightweight structures and therefore, improve their thermal performance and the efficiency of ventilation systems, and further lower cooling or heating energy consumption. Europe is witnessing a significant growth in the demand for PCM, owing to increasing investment and reviving construction industry in the region. In recent times, the European construction market has witnessed a path of steady growth. The future of the European construction market looks positive, which is indirectly catalyzing the growth of the PCM market in Europe.
Europe Dominates the Market
Europe has the highest share in the market, accounting for nearly 30% of the global market share in 2017. The market for Europe is driven majorly by the increasing demand from end-user industries including building & construction, packaging, textile, electronics and transportation. Packaging is also one of the major industries, which uses PCMs for food packaging, medical packaging and biological & chemical packaging in Europe.
Germany is the Largest Consumer
The building and construction industry in the country has started recovering with expected sales to rise by 5% in 2017 following growth of 5.8% in 2016. However, lower investment and poor payment behavior remains a challenge. The use of PCMs is prominent in the construction industry, as the country is focused on energy-efficient buildings. The recovery is expected to increase during the forecast period and is expected to lead a rise in demand for PCMs. Food & beverages is the largest consumer goods segment in Germany that demands PCM, significantly. Moreover, other industries, such as transportation and healthcare also use PCMs for various purposes. Increasing usage in all these industries is the factor that is expected to add up to the PCM market during the forecast period.
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Market Segment by Regions, regional analysis covers
- North America (the United States, Canada, and Mexico)
- Europe (Germany, France, UK, Russia, and Italy)
- Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
- South America (Brazil, Argentina, Colombia, etc.)
- The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
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