Global high temperature phase change materials market is expected to reach USD 1,028.47 Million by 2025, at a CAGR of 17.84% from 2018 to 2025. Growing demand from end-use applications, such as building & construction, Heating, Ventilation and Air-Conditioning (HVAC), Thermal Energy Storage (TES), cold chain & packaging are driving the global high temperature phase change materials market.
Phase change materials (PCM) are substances with a high heat of fusion which, melting and solidifying at a certain temperature, are capable of storing and releasing large amounts of thermal energy. This heat is absorbed or released when the material changes from solid to liquid and vice versa. The high-temperature phase change materials are widely used in the power generation sector as well as HVAC systems. These materials help in reducing the dependence on conventional energy resources. Thus due to increasing focus on energy efficiency, the phase change materials have an important role in future.
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- The base year for the study has been considered 2017, historic year 2015 and 2016 and, the forecast period considered is from 2018 to 2025. The global high temperature phase change materials market is analysed on the basis of value (USD Million), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons).
- The study delivers a comprehensive analysis of global high temperature phase change materials market by type, application and regions.
- The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2018 to 2025.
- Porter’s Five Forces model is used in order to recognize the competitive scenario in the global high temperature phase change materials market. This report incorporates the industry analysis which is focused on providing an extensive view of the high temperature phase change materials market.
- The study also includes attractiveness analysis of resin type, end user industry and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
- The report provides company profile of the key players operating in the high temperature phase change materials market and a comparative analysis based on their business overviews, product offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
- The market estimates have been evaluated by considering the effect of different political, economic, social, technological and legal factors which are based on our extensive secondary research, primary research, and in-house databases.
- Rising emphasis on the energy efficiency
- Large heat storage capacity
- High heat corrosion
- Application in the solar energy sector
- Increasing investment on the research and development activities
- Lack of awareness pertaining high-temperature phase change materials
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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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