Phase Change Material Market Is to Potentially Grow at A CAGR Of 16.5% Over the Forecast Period 2023-2030

Phase Change Material Market Scope 2023:

Phase Change Materials Market are substances that have the ability to absorb, store, and release large amounts of heat energy during the process of melting and solidifying. These materials find extensive applications in various industries, such as construction, refrigeration, and energy storage. The global phase change material market is expected to witness significant growth in the coming years due to the increasing demand for sustainable and energy-efficient solutions. The growing need for reducing carbon footprint and improving the energy efficiency of buildings is driving the demand for PCMs in the construction industry. Additionally, the rising demand for cooling and refrigeration systems in developing countries is also contributing to the growth of the market.

The paraffin-based phase change materials are expected to dominate the market due to their high thermal energy storage capacity and low cost. However, the demand for bio-based and organic phase change materials is expected to grow at a higher rate due to their biodegradability and non-toxicity. The market for PCMs is expected to witness a significant boost from the increasing use of these materials in thermal energy storage systems for renewable energy sources, such as solar and wind energy. The availability of a wide range of PCMs with different melting points and thermal energy storage capacities is expected to fuel the growth of the market in the forecast period.

“According to SNS insider, The Phase Change Material Market Size is estimated at US$ 560.36 million in 2022, and is expected to reach US$ 1901.42 million by 2030, with a growing healthy CAGR of 16.5% over the forecast period 2023-2030.”

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Research on the Phase Change Material Market covers a detailed analysis of the industry with an emphasis on global market trends. The objective of the study is to give readers a thorough market overview and segmentation. According to the global market research study, the market will continue to rise steadily over the projection period as a result of rising per capita expenditure around the world and increased use modern technologies. The inquiry includes in-depth analyses of meticulous customers, production capacity, and consumption volume, all of which are helpful to business owners.

The most recent research presents an in-depth examination of the Phase Change Material Market by looking at the complexity of revenue numbers, stock nuances, and information on major firms. The paper offers crucial details on supply chain management and distribution networks across numerous geographies. The report also discusses the problems with the global market and enumerates its main advantages and disadvantages. The impact of the market on environmental concerns and governmental restrictions is also examined in the research.

Major Key Players Analysis are covered in Phase Change Material Market Report are listed below:

Croda International Plc
Sasol Limited
Cold Chain Technologies Inc
Phase Change Materials Products Ltd
Honeywell Electronic Materials
Sumitomo Chemical Co. Ltd
Henkel AG & Company KGAA
PureTemp LLC
Microtek Laboratories Inc
Rubitherm Technologies GmbH

Phase Change Material Market Segmentation Analysis 2023

The size of the global market by geographic region, the share of sales in each market, and the main market dynamics impacting market developments in the Phase Change Material Market sector are all shown in the study. Concerns from experts also surround the company’s growth into a new area. The most recent global market report divides the market into several segments for the assessment period based on product type, end use, and application. However, these categories as well as regional and national market research are thoroughly assessed within the market research report.

Major Segments and Sub-Segment of Phase Change Material Market are Listed Below:

By Type

Organic
Inorganic
Eutectic

By Temperature Range

-20 to -35 deg C
2 to 8 deg C
12 to 15 deg C
Others

By End-user

Biopharmaceutical Companies
Hospitals
Medical Laboratories
Others

By Application

HVAC
Cold Chain & Packaging
Thermal Energy Storage
Electronics
Textile
Building & Construction
Refrigeration & Equipment
Others

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In this study, the years considered to estimate the market size of Phase Change Material are as follows:

History Year: 2019-2021
Base Year: 2022
Estimated Year: 2023
Forecast Year 2023 to 2030

Regional Analysis Covered in this report:

North America [United States, Canada]
Europe [Germany, France, U.K., Italy, Russia]
Asia-Pacific [China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia]
Latin America [Mexico, Brazil, Argentina]
Middle East & Africa [Turkey, Saudi Arabia, UAE]

COVID-19 Pandemic Impact Analysis

The latest research report designed for the Phase Change Material Market covers in-depth analysis on the major effects of COVID-19 pandemic on the market in different regions. Additionally, the dedicated section also discusses case studies of different companies which have successfully sustained during this difficult phase.

Regional Outlook

For major regional markets, including those in Europe, Latin America, North America, Asia Pacific, and the Middle East and Africa, the Phase Change Material Market research meticulously examines market contributions, unifications, collaborations, and new product releases.

Competitive Scenario

The reader can comprehend the predicted period’s global income, price, and output for the major firms. The article looks at the significant events that have shaped the Phase Change Material Market’s expansion. This research identifies crucial market elements, such as motivators, barriers, and chances for both well-established market participants and up-and-coming companies and suppliers.

Key Questions Answered in the Phase Change Material Market Report

What factors are driving the market’s global expansion and what are the main dangers to it?
Which companies dominate the market? How do they compete in the target market?
At the end of the forecast period, what size, share, and CAGR do you expect the market to have?

Conclusion

Demographic information is included in the Phase Change Material Market research report so that market participants may create their products and marketing plans. It assists companies in creating effective long-term plans by pointing out the most lucrative sectors.

Table of Contents – Major Key Points

Introduction
Research Methodology
Market Dynamics
Impact Analysis
Value Chain Analysis
Porter’s 5 Forces Model
PEST Analysis
Phase Change Material Market Segment, By Type
Phase Change Material Market Segment, By Temperature Range
Phase Change Material Market Segment, By End-User
Phase Change Material Market Segment, By Application
Regional Analysis
Company Profiles
Competitive Landscape
Conclusion

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