Phase Change Materials Market Research Report 2019 | Top Players are Honeywell, Dow, BASF, Sasol, Henkel, Cryopak

Polymer News
Aug 2 · 4 min read

According to a new research report on Phase Change Materials Market expanding at15.8% CAGR to surpass USD 4 billion by 2024. Phase change materials (PCM) market is poised to witness substantial growth rate during the forecast period. This exponential growth can be attributed to increasing global emphasis on reduction of greenhouse gases. According to International Energy Agency, global energy consumption increased twice from 1973 to 2012, reaching to approximately 8,500 Mtoe (million tons of oil equivalent). This has led to increase in greenhouse gas emissions by 7.7% from 1990 to 2014.

Salt hydrates will be fastest growing product segment of phase change materials market in the coming years. Hydrated salts comprise of an alloy of inorganic salts and water. These are cost-effective and are easily available in market. Desirable properties of salt hydrates to be used as a phase change material include higher thermal conductivity than paraffins and non-paraffins and small volume change. Bio-based phase change materials is increasingly grabbing attention of textile and packaging manufacturers across the globe. These are mostly vegetable based and provide several social, environmental and safety benefits.

Phase Change Materials Market Growth drivers are

Global drivers

· Regulations regarding minimizing greenhouse gas emission

· Advancements in macro and micro encapsulation technologies

· Growing popularity of bio-based phase change materials

· Increasing product acceptance in textile industry

Regional drivers

· Growing building & construction industry in Asia Pacific

· Advanced construction practices in North America

· Rising demand for heating, ventilation and air conditioning systems in Europe and North America

Textiles segment will be growing at substantial CAGR in PCM market over the next few years. The product was initially incorporated in spacesuits by NASA for their astronauts. Phase change materials used in this industry are combination of various types of paraffins each having different crystallization and melting points. The product is enclosed in microcapsules for leakage prevention in its liquid state. HVAC is an important end-user segment of phase change materials market and shall expand at a significant growth rate in North America and Europe during the forecast timeframe.

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North America and Europe will be growing at prominent rates during the forecast period. Most of the countries in these regions have adopted advanced construction practices which utilize products such as phase change materials to improve the overall energy efficiency of structures. This contributes well in energy saving and ultimately aids in carbon footprint reduction. Phase change materials will experience surged demand in these regions over the forecast duration.

The phase change materials market is diverse which includes small to medium scale and multinational players as well. This market space has some major names including Henkel, BASF SE, Phase Change Products Pty Ltd., Sasol, Laird PLC, Entropy Solutions, Croda and The Dow Chemical Company. This industry has companies with forward as well as backward integration of resources. For instance, RGEES LLC produces phase change materials and uses it for thermal shipping and as a cold chain refrigerant for healthcare, pharmaceutical and biosciences industries.

Partial Chapters From The Report Table of Contents (TOC)

Chapter 2. Executive Summary

2.1. Phase change materials industry 360° synopsis, 2013–2024

2.1.1. Business trends

2.1.2. Product by end-user trends

2.1.3. End-user trends

2.1.4. Regional trends

Chapter 3. Phase Change Materials Industry Insights

3.1. Industry segmentation

3.2. Industry size and forecast, 2013–2024

3.3. Industry ecosystem analysis

3.3.1. Raw material analysis

3.3.2. Manufacturing trends

3.3.3. Profit margin

3.3.4. Value addition

3.3.5. Distribution channel analysis

3.3.6. Vendor matrix

3.3.6.1. List of key raw material suppliers

3.3.6.2. List of key manufacturers/distributors

3.3.6.3. List of key/potential customers

3.4. Innovation & sustainability

3.4.1. Patent analysis

3.4.2. Technology landscape

3.4.3. Production process

3.4.4. Comparison of manufacturing techniques

3.4.5. Future trends

3.5. Industry impact forces

3.5.1. Growth drivers

3.5.1.1. Global drivers

3.5.1.1.1. Regulations regarding minimizing greenhouse gas emission

3.5.1.1.2. Advancements in macro and micro encapsulation technologies

3.5.1.1.3. Growing popularity of bio-based phase change materials

3.5.1.1.4. Increasing product acceptance in textile industry

3.5.1.2. Regional drivers

3.5.1.2.1. Growing building & construction industry in Asia Pacific

3.5.1.2.2. Advanced construction practices in North America

3.5.1.2.3. Rising demand for heating, ventilation and air conditioning systems in Europe and North America

3.5.2. Industry pitfalls & challenges

3.5.2.1. High product cost

3.5.2.2. Procurement risk and high prices of raw materials

3.6. Regulatory landscape

3.6.1. U.S.

3.6.2. Europe

3.6.3. China

3.7. Growth potential analysis

3.8. Price trend analysis

3.8.1. Cost structure analysis

3.8.1.1. R&D cost

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