A $3.1 Billion Global Opportunity for Advanced Phase Change Materials (PCM) by 2026 - New Research from StrategyR

SAN FRANCISCO, March 3, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Advanced Phase Change Materials (PCM) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

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Edition: 20; Released: February 2022
Executive Pool: 3852
Companies: 55 - Players covered include Advansa; Cryopak Inc.; E. I. du Pont De Nemours and Company; Microtek Laboratories Inc.; Microtek Laboratories Inc.; Outlast Technologies LLC; Phase Change Energy Solutions; Pluss Polymers Pvt., Ltd.; Sonoco Packaging Company and Others.
Coverage: All major geographies and key segments
Segments: Type (Organic, Inorganic); Application (Building & Construction, HVAC, Cold Chain & Packaging, Thermal Energy Storage, Textiles, Other Applications)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

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ABSTRACT-

Global Advanced Phase Change Materials (PCM) Market to Reach US$3.1 Billion by the Year 2026
Advanced phase change materials (PCMs) are employed for the storage of thermal energy, allowing the storage of high and low temperature energy temporarily for usage later on. They are employed in various industries for maintaining required temperatures. Growth in the global is being spurred by the increasing building and construction activities, growing focus on conserving energy, rising trend of urbanization, and technological developments related to the use of APCMs in the textile industry. Rising focus on green construction is anticipated to bode well for the market, as PCMs are used in such buildings for achieving energy efficiency. The materials' better capacity to store heat and the widespread use of temperature controlled packaging in industries such as bio-medical, pharmaceuticals, and food and beverage are also fostering their adoption. Rising trade and the emergence of APCMs which are useful for the transportation of perishable products is also expected to drive market growth. The growing need for thermal insulation materials that have high efficiency in HVAC and commercial refrigeration applications is also likely to encourage the use of APCMs.

Amid the COVID-19 crisis, the global market for Advanced Phase Change Materials (PCM) estimated at US$1.4 Billion in the year 2022, is projected to reach a revised size of US$3.1 Billion by 2026, growing at a CAGR of 18.8% over the analysis period. Organic, one of the segments analyzed in the report, is projected to grow at a 17.3% CAGR to reach US$1.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Inorganic segment is readjusted to a revised 19.6% CAGR for the next 7-year period. This segment currently accounts for a 64.1% share of the global Advanced Phase Change Materials (PCM) market. Organic PCMs constitute bio-based compounds and paraffin, while inorganic PCMs include metallic, salt hydrates, and others. The adoption of organic PCMs, especially fatty acids is expected to register strong growth, due to the rising interest in eco-friendly materials. Inorganic PCMs segment is being driven by the extensive usage of salt hydrates in various industries due to their better characteristics such as affordability, significant heat of fusion, non-flammability, and considerable thermal conductivity.

The U.S. Market is Estimated at $501.8 Million in 2022, While China is Forecast to Reach $379.3 Million by 2026
The Advanced Phase Change Materials (PCM) market in the U.S. is estimated at US$501.8 Million in the year 2022. The country currently accounts for a 32.4% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$379.3 Million in the year 2026 trailing a CAGR of 20.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 15.4% and 18% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 17% CAGR while Rest of European market (as defined in the study) will reach US$456.9 Million by the end of the analysis period. Europe and North America represent major regional markets. Growth in these regions is being fueled by the increasing focus on energy conservation and the resultant emphasis on using energy efficient products such as advanced PCMs. The strict enforcement of building energy efficiency regulations is the main growth driver for advanced PCM in these regions. Also benefiting the market is the rising awareness levels regarding the advantages of using energy efficient materials such as advanced PCM. Asia-Pacific market for APCMs is supported by fast-paced industrialization, urbanization, and expanding construction sector.

Applications for Microencapsulated PCM to Expand Rapidly
Microencapsulated PCM (MPCM) are capable of regulating the temperature inside buildings without electricity or any other fuel. MPCM imparts thermal mass to buildings through material weight and mass but on a smaller level which makes it suitable for architectural structures and buildings that are lightweight. Globally increasing demand for energy saving green structures is also propelling the segment forward. Additional applications of MPCM in the building & construction industry include wallboards, insulation panels and gypsum boards to name a few. On the other hand, textile applications are incorporating MPCM on a large scale in fabrics used in mattresses, apparel and linen. MPCM enhances the comfort levels of the fabrics through effective temperature regulation. MPCM are available in powder and slurry form with varying melting points for diverse applications. MPCM commonly find usage in textile applications such as foams, gels, fabrics, yarns and fibers. Another innovation involving MPCM in the textile sector includes the encapsulation of PCM within polymeric shells for use in garments. A dearth of testing standards in both building and textile applications poses a threat to the widespread adoption of MPCM on a large scale. In addition, the initial high costs associated with MPCM poses a challenge for the PCM segment. More

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Global Industry Analysts, Inc.
Phone: 1-408-528-9966
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SOURCE Global Industry Analysts, Inc.