The Global Market for Advanced Phase Change Materials (PCM) is Projected to Reach US$1.5 Billion by 2020

Growing Emphasis on Energy Conservation Drives the Advanced Phase Change Materials (PCM) Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Advanced Phase Change Materials (PCM) market. The global market for Advanced Phase Change Materials (PCM) is projected to reach US$1.5 billion by 2020, backed by the strong emphasis on energy conservation, stringent standards for greenhouse gas emissions, rising preference for biodegradable materials, recovering construction industry and rapid urbanization in developing countries.

The acute need for energy conservation across all sectors, especially those dependent on non-renewable fossil-based resources, is driving the demand for advanced Phase Change Materials (PCM) worldwide. Advanced phase change materials maximize energy efficiency by storing latent heat for later use. The legislation of stringent greenhouse gas emissions worldwide is a key factor spurring demand for advanced PCM. Rising focus on biodegradable materials, sustainable development, and the recovering global construction industry represent other major factors fuelling growth in the market.  Continuous technology development and advancements in micro and macro encapsulation technologies are also expected to benefit demand for advanced PCM. Heating, Ventilation, Air Conditioning, and Refrigeration (HVAC&R), and Building & Construction Industry represent the largest end-use markets for advanced PCM. In buildings, advanced PCM are embedded inside the building envelope in the form of panels or boards and provide energy savings by trapping heat within the substrate and lowering the rate of temperature rise inside a building, thereby causing a delay in the peak load conditions. In HVAC&R applications, the energy savings offered is over 30% which is largely achieved through regulation of temperature fluctuation.

Bio-based advanced PCM ranks as the fastest growing market segment, driven by material properties such as fire resistance and higher biodegradability when compared to organic PCM. The strict implementation of environmental regulations by regulatory bodies across the globe is expected to drive the market for bio-based advanced PCM. In addition, bio-based advanced PCM are capable of undergoing thousand rounds of recycling without material degradation. Meanwhile, organic advanced PCM is preferred for its eco-friendly properties, high energy efficiency, melting point and encapsulation. Paraffin-based phase change material represents the largest segment, accounting for about 50% share of the global APCM market in 2015. Paraffin-based phase change material is preferred largely due to properties such as sharper melting points and higher melting enthalpy.

As stated by the new market research report on Advanced Phase Change Material (PCM), Europe represents the largest market worldwide. Strict enforcement of building energy efficiency regulations across the region and higher industrial & commercial awareness over the benefits of using energy efficient technologies rank as primary growth drivers. Asia-Pacific is forecast to emerge as the fastest growing market with a projected CAGR of 16.7% over the analysis period. Key factors driving growth in the region include healthy residential, commercial and infrastructure construction activity, growing population, and rapid urbanization in economies such as China, India.

Key players covered in the report include Advansa B.V., BASF SE, Cryopak Inc., Datum Phase Change Ltd., DuPont, Entropy Solutions Inc., Micron Technology Inc., Microtek Laboratories Inc., Outlast Technologies LLC, Phase Change Energy Solutions, Phase Change Material Products Ltd., Pluss Polymers, Royal Dutch Shell, Rubitherm Technologies GmbH, Sonoco Products Company, among others.

The research report titled “Advanced Phase Change Materials (PCM): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, growth drivers, mergers and acquisitions, and other strategic industry activities of global and regional companies. The report provides market estimates and projections in dollars for major geographic markets, including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, and Rest of Asia-Pacific), The Middle East & Africa, and Latin America. Key material types analyzed include Paraffin-based PCM, Inorganic PCM, and Other PCMs (comprising Bio-based PCMs and Eutectic PCMs). Key end-use markets analyzed include Construction, Energy, HVAC&R, Textiles, and Others (comprising Electronics, Healthcare, Packaging, Telecommunications, and Transportation).

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