July 29, 2019 - 6:53 AM EDT
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Global High-Temperature Phase Change Materials (PCM) Market is Expected to Reach USD 1,028.47 Million by 2025 : Fior Markets

High-Temperature Phase Change Materials Market by Type (Organic, Inorganic, Bio-based), Application, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025

New Jersey, NJ, July 29, 2019 (GLOBE NEWSWIRE) -- Fior Markets launched a study titled"High-Temperature Phase Change Materials Market by Type (Organic, Inorganic, Bio-based), Application, Regions, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2018 to 2025".  As per the report, the global high-temperature phase change materials (PCM) 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 (PCM) market.

Market Outlook of the High-Temperature Phase Change Materials (PCM)

  • 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.
  • Although 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 (PCM), the high heat corrosion and flammability of high-temperature phase change materials are anticipated to hamper the market growth. Nevertheless, high-temperature phase change materials (PCM) application in the solar energy sector and increasing investment on the research and development activities for the phase change materials (PCM) is predicted to increase the global high-temperature phase change materials (PCM) market size over the forecast period.  

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Type Segment Analysis of the High-Temperature Phase Change Materials (PCM) Market

  • Inorganic
  • Organic
  • Bio-Based

Due to good thermal conductivity, high latent heat of fusion, non-flammability, and low-cost properties of the inorganic type of high-temperature phase change materials, the inorganic segment has emerged as the largest segment with USD 162.40 million revenue in 2017. In addition, the growing of construction industries in North America and Asia-Pacific region is anticipated to enhance the market share of organic segment in the global high-temperature phase change materials (PCM) market in the forthcoming years. 

Application Segment Analysis of the High-Temperature Phase Change Materials (PCM) Market

  • Building & Construction
  • HVAC
  • Cold Chain & Packaging
  • Thermal Energy Storage
  • Textile
  • Electronics
  • Solar Energy
  • Others

The building and construction segment emerged as the leader in the global high-temperature phase change materials (PCM) 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. Normal heat transfer fluids have a limited temperature range, high-temperature phase change materials are being increasingly preferred for transferring and storing the thermal energy produced by the solar energy modules.

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Region Segment Analysis of the High-Temperature Phase Change Materials (PCM) Market

  • North America (U.S. , Canada, Mexico)
  • Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
  • Asia-Pacific (China, Japan India, Rest of APAC)
  • South America (Brazil and Rest of South America)
  • Middle East and Africa (UAE, South Africa, Rest of MEA)

Europe region emerged as the largest market for the high-temperature phase change materials (PCM) with a 38.18% share of market revenue in 2017. Increasing emphasis on energy efficiency, rising awareness about energy conservation as well as increased funding for research on the high-temperature phase change materials led Europe region to dominate the global demand for high-temperature phase change materials in 2017. North America region also accounted for a significant market share in the global high-temperature phase change materials (PCM) market, owing to well-developed application industries in the region.

Competitive landscape and key vendors

  • 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, Emco Klimatechnik Gmbh & Co. KG, Rgees LLC, Ciat Group, Ewald Dörken AG, among others. The companies are adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership to maintain their presence in the global high temperature phase change materials (PCM) market.
  • To alleviate the lack of awareness regarding the applications and potential of high-temperature phase change materials, Croda International in 2018, announced the launch of CrodaTherm website www.crodatherm.com. The new site offers improved navigation and searchability, a wider range of potential PCM applications and profiles of the CrodaTherm technical team. Visitors can register to log in and download datasheets and order samples.
  • For instance, in 2018, The Scottish producer of phase change materials (PCM) heat batteries and Trina Solar, a PV panel manufacturer signed a Memorandum of Understanding (MoU) at the opening of Trina Solar´s new heat pump factory in Changzou, China. The integrated solution will combine Sunamp´s UniQ heat batteries with solar panels and heat pumps to reduce energy costs and carbon emission and to improve air quality.

About the report:

The global high-temperature phase change materials (PCM) market is analysed on the basis of value (USD Million), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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The report can be customized as per client requirements. For further queries, you can contact us on [email protected] or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.

About Fior Markets

Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.

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Source: GlobeNewswire PR (July 29, 2019 - 6:53 AM EDT)

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