Press release
Advanced Phase Change Materials Market is Estimated to Reach USD 4.54 Billion by 2030: Cognitive Market Research
Advanced Phase Change Materials Market is Estimated to Reach USD 4.54 Billion by 2030: Cognitive Market Research
What is Advanced Phase Change Materials?
A phase change material (PCM) is a material that emits or captivates enough energy to provide useful heat or cooling during a phase transition. In most circumstances, a shift from one of the first two fundamental states of matter, solid or liquid, to the other is possible. A phase transition can also occur between non-classical states of matter, such as crystal conformance, in which the material shifts from conforming to one crystalline structure, which can have more or less energy.
To know more about The Advanced Phase Change Materials Market statistics click here : https://www.cognitivemarketresearch.com/advanced-phase-change-materials-market-report
Summary:
The Advanced Phase Change Materials Market is expected to grow from USD 1.76 Billion in 2022 to USD 4.54 Billion by 2030, at a CAGR of 12.6% during the forecast period of 2023-2030.
Market Dynamics:
• Use of phase change materials in the safe transportation of pharmaceutical goods propels the market growth
Every year, more than 25% of pharmaceutical items are discarded during shipment. A disrupted temperature-controlled chain has emerged as one of the main reasons for this loss since seven out of ten pharmaceutical items require a temperature-controlled shipment. As a result, the items require rapid and temperature-controlled delivery. PCMs have been developed to fulfill these ever-increasing energy demands in the cooling and heating of pharmaceutical product shipments. Specific PCMs ranging from -35°C to +89°C are now available to maintain exact temperatures. This aids in the preservation of temperature-sensitive pharma items. This raises the demand for advanced phase change materials.
• Challenges for the Advanced Phase Change Materials Market
The high cost of advanced phase change materials can hamper the growth of the market. For instance, nowadays, paraffin is the most often used PCM. The usual material prices for paraffin PCMs are $20-40/kWh, making them prohibitively costly for many building applications whether for envelopes or equipment.
• Usage of advanced phase change materials in food packaging will drive the market growth
With the growth of online shopping, it is necessary to regulate the temperature of food shipments while they are being transported. Food requires cool temperatures during shipment to stay fresh. Unwanted warming of food occurs when packages are exposed to warm temperatures at airports and during short unrefrigerated storage during air transportation. To address this issue, phase change materials (PCMs) can absorb or release latent heat by changing their phase from liquid to solid or vice versa. This factor will boost the market growth.
Market Segmentation:
Type
• Organic
Based on types, the organic segment dominates the advanced phase change materials market as they are found naturally. They are also chemically and thermally stable, with little to no subcooling required.
• Inorganic
• Bio-based
Application
• Building & Construction
Based on application, building & construction dominate the advanced phase change materials market owing to the wide usage of products in the building & construction industry.
• Shipping & Transportation
• HVAC
• Commercial Refrigeration
• Energy Storage
• Others
Product
• Paraffin Wax
Based on the product, the paraffin wax segment dominates the advanced phase change materials market due to its ease of use.
• Salt Hydrates
• Others
Competitive Analysis of the Advanced Phase Change Materials Market : BASF, Honeywell, Cryopak, Entropy Solutions Inc., Climator Sweden AB, Phase Change Energy Solutions, Outlast Technologies, Dow Building Solutions, Chemours Company, PCM Energy Ltd, Rubitherm Technologies GmbH, Others
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Regional Analysis:
Europe dominates the Advanced Phase Change Materials Market
The Global Advanced Phase Change Materials Market is geographically divided into regions like North America, Europe, Asia Pacific, Latin America, and Middle-east Countries. Europe dominates the advanced phase change materials market owing to the rising government support, growing urbanization, increased need for expansion in construction activities, and rise in disposable income. Similarly, the increasing packaging and transportation industry further drives Europe advanced phase change materials market.
Advanced Phase Change Materials Market Industry News:
In August 2021, Carborundum Universal Limited (CUMI) acquired a majority share in PLUSS Advanced Technologies Private Limited. PLUSS is interested in two areas: phase change materials (PCM) for thermal energy storage and specialty polymeric additives for polymer recycling and better mechanical qualities. The acquisition of this firm allows CUMI to seek prospects that utilize material science in a sustainable manner.
Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Advanced Phase Change Materials Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Advanced Phase Change Materials Market Segmentation
1.5.1 Advanced Phase Change Materials Market Regional Fragmentation
1.5.1 Advanced Phase Change Materials Market Players
• 1.6 Report Duration
• 1.7 List of Stakeholders
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Advanced Phase Change Materials Market
Chapter 4 Global Advanced Phase Change Materials Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Environmental, Social, and Governance (ESG) Analysis
Chapter 7 Qualitative Analysis
Chapter 8 Company Profiling (Subject to Availability)
Chapter 9 Global Advanced Phase Change Materials Market by Type Segmentation Analysis (2018-2030)
Chapter 10 Global Advanced Phase Change Materials Market by Application Segmentation Analysis (2018-2030)
Chapter 11 Global Advanced Phase Change Materials Market by Product Segmentation Analysis (2018-2030)
• 11.1 Detailed Qualitative Analysis
• 11.2 Global Advanced Phase Change Materials Revenue and Share (%) by Product (2018-2030)
11.2.1 Paraffin Wax Market Size
11.2.1.1 Global Paraffin Wax Market Share and Revenue (USD Million) for 2018-2030
11.2.1.2 Advanced Phase Change Materials Market for Paraffin Wax, by Country (2021 Vs 2024)
11.2.2 Salt Hydrates Market Size
11.2.2.1 Global Salt Hydrates Market Share and Revenue (USD Million) for 2018-2030
11.2.2.2 Advanced Phase Change Materials Market for Salt Hydrates, by Country (2021 Vs 2024)
11.2.3 Others Market Size
11.2.3.1 Global Others Market Share and Revenue (USD Million) for 2018-2030
11.2.3.2 Advanced Phase Change Materials Market for Others, by Country (2021 Vs 2024)
Chapter 12 Global Advanced Phase Change Materials Market Regional Analysis
Chapter 13 North America Advanced Phase Change Materials Market Outlook (2018 - 2030)
Chapter 14 Europe Advanced Phase Change Materials Market Outlook (2018 - 2030)
Chapter 15 Asia Pacific Advanced Phase Change Materials Market Outlook (2018 - 2030)
Chapter 16 Latin America Advanced Phase Change Materials Market Outlook (2018 - 2030)
Chapter 17 Middle East and Africa Advanced Phase Change Materials Market Outlook (2018 - 2030)
Chapter 18 Research Findings
Customize the Report Edition (Is applicable, On Request, Subject to Data Available, At an Additional Cost)
To know more about The Advanced Phase Change Materials Market TOC click here : https://www.cognitivemarketresearch.com/advanced-phase-change-materials-market-report#table_of_contents
Related Report:
• Bio based Polyamide Market : https://www.cognitivemarketresearch.com/bio-based-polyamide-market-report
• Inorganic Advanced Phase Change Materials Market : https://www.cognitivemarketresearch.com/inorganic-advanced-phase-change-materials-market-report
• High-Temperature Phase Change Materials Market : https://www.cognitivemarketresearch.com/high-temperature-phase-change-materials-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
20 N State Street,Chicago,
Illinois, 60602
United States
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Asia Pacific: (+852) 81930785
Email: sales@cognitivemarketresearch.com
Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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