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The Phase Change Materials (PCM) Market is likely to witness a CAGR of 8.8% during the forecast period. The prime factors that are driving the Phase Change Materials (PCM) Market is its superior thermal conductivity property leading to its wide usage in a wide array of industries.

Key Players

The following are the key players in the Phase Change Materials (PCM) Market:

Honeywell Electronic Materials, Inc.

Laird PLC.

Sasol Limited

Croda International PLC.

Entropy Solutions LLC

Microtek Laboratories Inc.

Pluss Advanced Technologies Pvt. Ltd.

Phase Change Energy Solutions Inc.

Rubitherm Technologies GmbH

Phase Change Materials Products Ltd.

Outlast Technologies LLC

Henkel AG Company

KGaA

Cold Chain Technologies, Inc.

Growth drivers and Market Value:

This report, from Stratview Research, studies the Phase Change Materials (PCM) Market value and growth drivers over the trend period of 2022-27. According to the report -

Phase change materials market is likely to witness an impressive CAGR of 18.2% during the forecast period. Strong demand from end-use industries, such as building construction, HVAC, cold chain packaging, thermal energy storage, refrigeration equipment, electronics, textiles, and others is the major factor driving the demand for phase change materials in the global market. Phase change material holds unique feature that it can store and release large amount of energy/heat while maintaining a constant temperature and hence, is used to conserve energy, reduce operating cost, and provide temperature security.

Segment Analysis:

Based on Type:

Based on the type, the market is segmented as Inorganic PCM, Organic PCM, and Bio-based PCM. The inorganic PCM is expected to lead the market during the forecast period, owing to its good thermal conductivity, high latent heat of fusion, non-flammability, and low cost. Inorganic PCMs are extensively used in thermal energy storage, HVAC, cold chain packaging, and refrigeration equipment.

Based on Region:

In terms of regions, Europe is expected to remain the largest market for phase change materials during the forecast period. Stringent regulation regarding usage and handling of temperature-sensitive goods, implementation of strict building codes, and the European Union directives to improve efficiency in buildings are the major factors that have led to the dominance of Europe in the global PCM market.

Critical Questions Answered in the Report

• What are the key trends in the Phase Change Materials (PCM) Market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on Phase Change Materials (PCM) Market?
• What are the key strategies adopted by the major vendors to lead in the Phase Change Materials (PCM) Market?
• What is the market share of the top vendors?

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