Fior Markets launched a study titled “High-Temperature Phase Change Materials Market by Type (Organic, Inorganic, Bio-based), Application, Regions”,and Global Forecast 2018-2025.
The global high temperature phase change materials market is expected to grow from USD 276.52 Million in 2017 to USD 1,028.47 Million by 2025, at a CAGR of 17.84% during the forecast period from 2018-2025. Increasing focus on energy efficiency and reducing the dependence on conventional energy resources are the factors propelling the global high temperature phase change materials market.
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Inorganic high temperature phase change segment had a market value of USD 162.40 million in 2017
Type segment is divided into inorganic, organic and bio-based. Due to their good thermal conductivity, high latent heat of fusion, non-flammability, and low-cost properties the inorganic high-temperature phase change materials segment emerged as the largest type segment with USD 162.40 million revenue in 2017.
Solar energy application is anticipated to grow at a CAGR of 20.17% in 2018-2025
The application is segmented into building & construction, HVAC, cold chain & packaging, thermal energy storage, textile, electronics, solar energy, and others. The building and construction segment emerged as the leader in the global high-temperature phase change materials market with USD 90.06 million revenue in 2017. However, due to the preference for high-temperature phase change materials for transferring and storing the thermal energy produced by the solar energy modules, the solar energy application segment is expected to grow at an increased CAGR of 20.17% over the forecast period.
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Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Factors such as the growing emphasis on energy efficiency, increasing awareness about energy conservation as well as increased funding for research on the high-temperature phase change materials were responsible for Europe region to emerge as the dominant in the global for high-temperature phase change materials market with USD 105.58 million revenue in 2017. North America region also held a robust market share in 2017, due to well-established application industries in the region.
Even though the factors such as the rising emphasis on the energy efficiency as well as large heat storage capacity are driving the global high-temperature phase change materials, the high heat corrosion and flammability of high-temperature phase change materials are anticipated to hamper the market growth over the forecast period.
Major players in the global high temperature phase change materials market are Laird Plc, Croda International Plc., Rubitherm Technologies GmbH, Phase Change Materials Products Ltd., Henkel AG & Company, KGaA, Advansa BV, Climator Sweden AB, Datum Phase Change Limited, Global E-Systems Europe B.V., Iolitec Ionic Liquids Technologies GmbH, BASF SE, Honeywell, Advansa, Outlast Technologies, Dow Building Solutions, EmcoKlimatechnikGmbh& Co. KG, Rgees LLC, Ciat Group, EwaldDörken AG, and among others.
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