Worldwide Phase Change Materials Industry to 2031 - Increasing Focus Toward Sustainable Development Presents Opportunities

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May 06, 2022, 10:15 ET

DUBLIN, May 6, 2022 /PRNewswire/ -- The "Phase Change Materials Market - A Global and Regional Analysis: Focus on Application, Type, and Region - Analysis and Forecast, 2020-2031" report has been added to ResearchAndMarkets.com's offering.

The phase change materials market was valued at $1,520.3 million in 2020 and is expected to reach $8,956.8 million by 2031, growing at a CAGR of 17.54% between 2021 and 2031.

Phase change materials have been developing significantly since the 1970s, and much can be attributed to the technological advancements in this field. The ecosystem of the phase change materials market comprises PCM manufacturers, PCM-based product manufacturers, end users, and others. The market is still developing, with Europe at the forefront, followed by North America and other regions.

The phase change materials market is driven by several factors, including the growing popularity of bio-based phase change materials. Phase change materials are a preferred choice these days because of their high heat energy storage capacities, which is expected to positively impact the growth of the overall market.

Market Segmentation

Phase Change Materials Market by Application

Among different applications, the building and construction segment led the market in 2020 and is expected to be the largest application during the forecast period (2021-2031). Buildings require to reduce their energy consumption and enhance their energy conservation to promote energy efficiency and long-term sustainability. Furthermore, the usage of efficient energy materials such as PCMs is essential to minimize the energy reliance on buildings. As a result, incorporating PCMs in building systems such as walls, windows, ceilings, or floors is an effective approach to decreasing the energy consumption of buildings for heating and cooling.

Phase Change Materials Market by Type

Among different types, paraffins led the market in 2020 and are estimated to lead the market during the forecast period (2021-2031). It is a widely utilized material, owing to the benefits of paraffin-based PCMs. The accessibility of paraffin at a wide range of temperatures is the major reason for its suitability as an energy storage medium. Paraffins are reliable, safe, and non-corrosive in general. Also, properties such as chemical stability, non-toxic properties, high latent heat of fusion, and others are contributing to the growth of paraffins.

Phase Change Materials Market by Region

The demand for phase change materials varies according to various regions. The phase change materials market holds a prominent share in various countries of North America, South America, Europe, the U.K., China, Asia-Pacific, and the Middle East and Africa, among which Europe is expected to account for the highest share of the global phase change materials market, owing to the presence of a significant number of phase change materials manufacturers such as Henkel AG & Co. KGaA, Climator Sweden AB, Rubitherm Technologies GmbH, and others.

Key Market Players and Competition Synopsis

Some key players operating in the market are Henkel AG & Co. KGaA, Honeywell International.Inc., Croda International Plc, PureTemp LLC, Laird Technologies, Inc., Rubitherm Technologies GmbH, PCM Products Ltd, Climator Sweden AB, Cryopak, Shin-Etsu Chemicals Co.,Ltd., PLUSS, Phase Change Products Pty.Ltd, Microtek Laboratories Inc., Shanghai Tempered Entropy New Energy Co., Ltd, Phase Change Solutions, Sasol, Axiotherm GmbH, Hangzhou New Material Technology Co., Ltd. ('RuhrTech'), and Rovilus

Key Questions Answered in the Report

What are the major factors and trends that are impacting the adoption/consumption of phase change materials?
What are some of the key initiatives taken by the existing players to improve their market positioning and strategy adopted by new players entering in phase change materials marketspace?
With respect to various types of commercially available phase change materials, which are the leading categories, promising applications, and preferred types in the market, and how are these going to evolve in the coming years?
What are the latest developments in various countries for the development of phase change materials, and what are the consumption patterns?
How has COVID-19 impacted the phase change materials market across the globe?
What are the bottlenecks around the adoption of phase change materials across different regions and countries, and what are the government regulations across the globe impacting the phase change materials market?

Key Topics Covered:

1 Markets
1.1 Industry Outlook
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Growing Popularity of Bio-Based Phase Change Materials
1.2.1.2 Rising Emphasis on Energy Conservation
1.2.2 Business Challenges
1.2.2.1 High Cost of Advanced Phase Change Materials
1.2.2.2 Material Properties and Compatibility
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.3.2 Market Developments
1.2.4 Business Opportunities
1.2.4.1 Increasing Energy Consumption
1.2.4.2 Increasing Focus Toward Sustainable Development
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem

2 Application
2.1 Global Phase Change Materials Market (Applications and Specifications)
2.1.1 Building and Construction
2.1.2 Heating, Ventilation, and Air Conditioning (HVAC) Systems
2.1.3 Energy Storage Management
2.1.4 Commercial Refrigeration
2.1.5 Cold Chain and Packaging
2.1.6 Textiles
2.1.7 Others
2.2 Demand Analysis of Phase Change Materials Market (by Applications), Value Data

3 Products
3.1 Global Phase Change Materials Market (Products and Specifications)
3.1.1 Paraffin
3.1.2 Salt Hydrates
3.1.3 Eutectics
3.1.4 Non-Paraffin
3.1.5 Others
3.2 Demand Analysis of Phase Change Materials Market (by Type), Value Data
3.3 Product Benchmarking: Growth Rate - Market Share Matrix, 2020
3.4 Patent Analysis
3.4.1 Patent Analysis (by Status)
3.4.2 Patent Analysis (by Organization)

4 Regions

5 Markets - Competitive Benchmarking & Company Profiles
5.1 Competitive Benchmarking
5.1.1 Competitive Position Matrix
5.1.2 Product Matrix for Key Companies
5.1.3 Market Share Analysis of Key Companies
5.2 Company Profiles
5.2.1 Henkel AG & Co. KGaA
5.2.1.1 Company Overview
5.2.1.1.1 Product Portfolio
5.2.1.1.2 Production Sites
5.2.1.2 Business Strategies
5.2.1.2.1 Market Development
5.2.1.3 R&D Expenditure Analysis
5.2.1.4 Competitive Position
5.2.1.4.1 Strengths of the Company
5.2.1.4.2 Weakness of the Company
5.2.2 Honeywell International.Inc.
5.2.2.1 Company Overview
5.2.2.1.1 Product Portfolio
5.2.2.1.2 Production Sites
5.2.2.2 R&D Expenditure Analysis
5.2.2.3 Competitive Position
5.2.2.3.1 Strengths of the Company
5.2.2.3.2 Weakness of the Company
5.2.3 Croda International Plc
5.2.3.1 Company Overview
5.2.3.1.1 Product Portfolio
5.2.3.1.2 Production Sites and R&D Analysis
5.2.3.2 Business Strategies
5.2.3.2.1 Market Development
5.2.3.3 Competitive Position
5.2.3.3.1 Strengths of the Company
5.2.3.3.2 Weakness of Company
5.2.4 PureTemp LLC
5.2.4.1 Company Overview
5.2.4.1.1 Product Portfolio
5.2.4.2 Business Strategies
5.2.4.2.1 Product Developments
5.2.4.3 Production Sites
5.2.4.4 Corporate Strategies
5.2.4.4.1 Partnership
5.2.4.5 Competitive Position
5.2.4.5.1 Strengths of the Company
5.2.4.5.2 Weakness of the Company
5.2.5 Laird Technologies, Inc.
5.2.5.1 Company Overview
5.2.5.1.1 Product Portfolio
5.2.5.2 Production Sites and R&D Analysis
5.2.5.3 Competitive Position
5.2.5.3.1 Strength of the Company
5.2.5.3.2 Weakness of Company
5.2.6 Rubitherm Technologies GmbH
5.2.6.1 Company Overview
5.2.6.1.1 Product Portfolio
5.2.6.2 Business Strategies
5.2.6.2.1 Product Developments
5.2.6.2.2 Market Development
5.2.6.3 Production Sites
5.2.6.4 Competitive Position
5.2.6.4.1 Strength of the Company
5.2.6.4.2 Weakness of Company
5.2.7 PCM Products Ltd
5.2.7.1 Company Overview
5.2.7.1.1 Product Portfolio
5.2.7.2 Production Sites
5.2.7.3 Competitive Position
5.2.7.3.1 Strengths of the Company
5.2.7.3.2 Weakness of Company
5.2.8 Climator Sweden AB
5.2.8.1 Company Overview
5.2.8.1.1 Product Portfolio
5.2.8.2 Competitive Position
5.2.8.2.1 Strengths of the Company
5.2.8.2.2 Weakness of Company
5.2.9 Cryopak
5.2.9.1 Company Overview
5.2.9.1.1 Product Portfolio
5.2.9.2 Competitive Position
5.2.9.2.1 Strengths of the Company
5.2.9.2.2 Weakness of Company
5.2.10 Shin-Etsu Chemicals Co.,Ltd.
5.2.10.1 Company Overview
5.2.10.1.1 Product Portfolio
5.2.10.1.2 Production Sites and R&D Analysis
5.2.10.2 Business Strategies
5.2.10.2.1 Market Development
5.2.10.3 Competitive Position
5.2.10.3.1 Strengths of the Company
5.2.10.3.2 Weakness of the Company
5.2.11 PLUSS
5.2.11.1 Company Overview
5.2.11.1.1 Product Portfolio
5.2.11.1.2 Production Sites
5.2.11.2 Business Strategies
5.2.11.2.1 Product Development
5.2.11.2.2 Market Development
5.2.11.3 Competitive Position
5.2.11.3.1 Strengths of the Company
5.2.11.3.2 Weakness of the Company
5.2.12 Phase Change Products Pty.Ltd
5.2.12.1 Company Overview
5.2.12.2 Product Portfolio
5.2.12.2.1 Production Sites
5.2.12.3 Competitive Position
5.2.12.3.1 Strength of the Company
5.2.12.3.2 Weakness of the Company
5.2.13 Microtek Laboratories Inc.
5.2.13.1 Company Overview
5.2.13.1.1 Product Portfolio
5.2.13.2 Business Strategies
5.2.13.2.1 Product Developments
5.2.13.3 Production Sites
5.2.13.4 Corporate Strategies
5.2.13.5 Competitive Position
5.2.13.5.1 Strengths of the Company
5.2.13.5.2 Weakness of the Company
5.2.14 Shanghai Tempered Entropy New Energy Co., Ltd
5.2.14.1 Company Overview
5.2.14.1.1 Product Portfolio
5.2.14.2 Production Sites
5.2.14.3 Competitive Position
5.2.14.3.1 Strengths of the Company
5.2.14.3.2 Weakness of the Company
5.2.15 Phase Change Solutions
5.2.15.1 Company Overview
5.2.15.1.1 Product Portfolio
5.2.15.2 Business Strategies
5.2.15.2.1 Product Developments
5.2.15.3 Production Sites
5.2.15.4 Competitive Position
5.2.15.4.1 Strengths of the Company
5.2.15.4.2 Weakness of the Company
5.2.16 Sasol
5.2.16.1 Company Overview
5.2.16.1.1 Product Portfolio
5.2.16.1.2 Production Sites
5.2.16.2 Competitive Position
5.2.16.2.1 Strength of the Company
5.2.16.2.2 Weakness of the Company
5.2.17 Axiotherm GmbH
5.2.17.1 Company Overview
5.2.17.1.1 Product Portfolio
5.2.17.2 Business Strategies
5.2.17.2.1 Product Developments
5.2.17.3 Production Sites
5.2.17.4 Competitive Position
5.2.17.4.1 Strength of the Company
5.2.17.4.2 Weakness of the Company
5.2.18 Hangzhou New Material Technology Co., Ltd. ('RuhrTech')
5.2.18.1 Company Overview
5.2.18.1.1 Product Portfolio
5.2.18.2 Production Sites
5.2.18.3 Business Strategies
5.2.18.3.1 Product Development
5.2.18.4 Corporate Strategies
5.2.18.5 Competitive Position
5.2.18.5.1 Strengths of the Company
5.2.18.5.2 Weaknesses of the Company
5.2.19 Rovilus
5.2.19.1 Company Overview
5.2.19.1.1 Product Portfolio
5.2.19.2 Production Sites
5.2.19.3 Competitive Position
5.2.19.3.1 Strength of the Company
5.2.19.3.2 Weakness of the Company