CHEMICALS & MATERIALS
Global Phase Change Materials Market - Industry Trends and Forecast to 2032
REPORT OVERVIEW
Global Phase Change Materials Market, By Form (Encapsulated and Non-Encapsulated), Type (Organic PCM, Inorganic PCM, Bio-Based PCM), Application (Building and Construction, HVAC, Textiles, Electronics, Cold Chain & Packaging, Thermal Energy Storage, Others), Region (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2032.
Market Insights
The global phase change materials market size is valued to be USD xx million in 2023 and is expected to reach USD xx million by 2032, and it is expected to register a CAGR of xx% over the forecast period 2024-2032.
Phase Change Materials (PCMs) are substances that absorb or release latent heat when changing phases, usually from solid to liquid or vice versa. This thermal energy storage property enables PCMs to maintain or regulate temperature by absorbing excess heat during melting and releasing it while solidifying. They can be used as building materials, electronics, and textiles, among other things, because of this feature. Phase Change Materials Market includes these materials' development, manufacturing, and application in a range of sectors. It includes a wide variety of PCMs, including eutectic, inorganic, and organic materials, which are utilized to make temperature-regulating textiles, better electronic device temperature control, and increase building energy efficiency. Growing energy efficiency requirements, technology breakthroughs, and rising use of smart building solutions are major market drivers.
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Market Dynamics
DRIVERS
- Growing awareness of sustainable and green building practices.
- Rising energy costs driving the need for efficient energy storage.
RESTRAINTS
- High initial costs of phase change materials.
- Limited awareness and understanding among end-users.
OPPORTUNITIES
- Expansion in emerging markets with rising energy efficiency standards.
- Development of bio-based and non-toxic phase change materials.
CHALLENGES
- Scaling production to meet increasing demand.
- Ensuring consistent performance and reliability.
SEGMENTATION
- Form
- Encapsulated
- Non-Encapsulated
- Type
- Organic PCM
- Inorganic PCM
- Bio-Based PCM
- Application
- Building and Construction
- HVAC
- Textiles
- Electronics
- Cold Chain & Packaging
- Thermal Energy Storage
- Others
The respective global report is completely customizable specific to regions (North America, Europe, Asia-Pacific, South America, Middle East and Africa), countries, segments, key players as per the client requirements.
REGIONAL SEGMENTATION
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- The Netherlands
- Belgium
- Turkey
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Malaysia
- Australia
- Thailand
- Philippines
- Rest of Asia-Pacific
- South America
- Brazil
- Argentina
- Chile
- Colombia
- Rest of South America
- Middle East and Africa
- Kingdom of Saudi Arabia
- South Africa
- U.A.E.
- Egypt
- Rest of Middle East and Africa
KEY MARKET PLAYERS
- Axiotherm GmbH
- Croda Europe Ltd.
- Global Energy Systems Europe BV
- Hangzhou Ruhr New Material Technology Co., Ltd. (‘RuhrTech’)
- Microtek Laboratories, Inc.
- PCM Technology
- Outlast Technologies
- PLUSS Advanced Technologies Pvt. Ltd.
- Phase change product Pvt. Ltd.
- PureTemp LLC
Table OF CONTENTS
- SECTION 1 - INTRODUCTION
- 1.1 Taxonomy
- 1.2 Market Overview
- 1.3 Currency and Limitations
- 1.3.1 Currency
- 1.3.2 Limitations
- 1.4 Key Competitors
- SECTION 2 - RESEARCH METHODOLOGY
- 2.1 Research Approach
- 2.2 Data Collection and Validation
- 2.2.1 Secondary Research
- 2.2.2 Primary Research
- 2.3 Market Assessment
- 2.3.1 Market Size Estimation
- 2.3.2 Bottom-up Approach
- 2.3.3 Top-down Approach
- 2.3.4 Growth Forecast
- 2.4 Market Study Assumptions
- 2.5 Data Sources
- SECTION 3 - EXECUTIVE SUMMARY
- 3.1 Global Phase Change Materials Market, by Form
- 3.2 Global Phase Change Materials Market, by Type
- 3.3 Global Phase Change Materials Market, by Application
- 3.4 Global Phase Change Materials Market, by Geography
- 3.5 Market Position Grid
- SECTION 4 - PREMIUM INSIGHTS
- 4.1 Regulatory Framework
- 4.1.1 Standards
- 4.1.2 Regulatory Landscape
- 4.2 Value Chain Analysis
- 4.3 Supply Chain Analysis
- 4.4 COVID-19 Impact
- 4.5 Russia-Ukraine War Impact
- 4.6 PORTER's Five Force Analysis
- 4.7 PESTLE Analysis
- 4.8 SWOT Analysis
- 4.9 Go to Market Strategy
- 4.10 Opportunity Orbit
- 4.11 Multivariate Modelling
- 4.12 Pricing Analysis
- SECTION 5 - MARKET DYNAMICS
- 5.1 Trends
- 5.1.1 Rising use in cold chain logistics and packaging.
- 5.1.2 Advancements in material technology and innovation.
- 5.1.3 Trend 3
- 5.2 Drivers
- 5.2.1 Growing awareness of sustainable and green building practices.
- 5.2.2 Rising energy costs driving the need for efficient energy storage.
- 5.2.3 Driver 3
- 5.2.4 Driver 4
- 5.3 Restraints
- 5.3.1 High initial costs of phase change materials.
- 5.3.2 Limited awareness and understanding among end-users.
- 5.3.3 Restraint 3
- 5.4 Opportunities
- 5.4.1 Expansion in emerging markets with rising energy efficiency standards.
- 5.4.2 Development of bio-based and non-toxic phase change materials.
- 5.4.3 Opportunity 3
- 5.4.4 Opportunity 4
- 5.5 Challenges
- 5.5.1 Scaling production to meet increasing demand.
- 5.5.2 Ensuring consistent performance and reliability.
- 5.5.3 Challenge 3
- SECTION 6 - GLOBAL PHASE CHANGE MATERIALS MARKET, BY FORM
- 6.1 Form Summary
- 6.2 Market Attractive Index
- 6.3 Global Phase Change Materials Market, by Form (2019-2032)
- SECTION 7 - GLOBAL PHASE CHANGE MATERIALS MARKET, BY TYPE
- 7.1 Type Summary
- 7.2 Market Attractive Index
- 7.3 Global Phase Change Materials Market, by Type (2019-2032)
- SECTION 8 - GLOBAL PHASE CHANGE MATERIALS MARKET, BY APPLICATION
- 8.1 Application Summary
- 8.2 Market Attractive Index
- 8.3 Global Phase Change Materials Market, by Application (2019-2032)
- SECTION 9 - GLOBAL PHASE CHANGE MATERIALS MARKET, BY GEOGRAPHY
- 9.1 Regional Summary
- 9.2 Market Attractive Index
- 9.3 Global Phase Change Materials Market, by Geography (2019-2032)
- SECTION 10 - NORTH AMERICA PHASE CHANGE MATERIALS MARKET
- 10.1 North America Summary
- 10.2 Market Attractive Index
- 10.3 North America Phase Change Materials Market, by Form (2019-2032)
- 10.4 North America Phase Change Materials Market, by Type (2019-2032)
- 10.5 North America Phase Change Materials Market, by Application (2019-2032)
- 10.6 North America Phase Change Materials Market, by Country (2019-2032)
- 10.6.1 U.S.
- 10.6.2 Canada
- 10.6.3 Mexico
- 10.6.4 Rest of North America
- SECTION 11 - EUROPE PHASE CHANGE MATERIALS MARKET
- 11.1 Europe Summary
- 11.2 Market Attractive Index
- 11.3 Europe Phase Change Materials Market, by Form (2019-2032)
- 11.4 Europe Phase Change Materials Market, by Type (2019-2032)
- 11.5 Europe Phase Change Materials Market, by Application (2019-2032)
- 11.6 Europe Phase Change Materials Market, by Country (2019-2032)
- 11.6.1 Germany
- 11.6.2 U.K.
- 11.6.3 France
- 11.6.4 Italy
- 11.6.5 Spain
- 11.6.6 Russia
- 11.6.7 The Netherlands
- 11.6.8 Belgium
- 11.6.9 Turkey
- 11.6.10 Rest of Europe
- SECTION 12 - ASIA-PACIFIC PHASE CHANGE MATERIALS MARKET
- 12.1 Asia-Pacific Summary
- 12.2 Market Attractive Index
- 12.3 Asia-Pacific Phase Change Materials Market, by Form (2019-2032)
- 12.4 Asia-Pacific Phase Change Materials Market, by Type (2019-2032)
- 12.5 Asia-Pacific Phase Change Materials Market, by Application (2019-2032)
- 12.6 Asia-Pacific Phase Change Materials Market, by Country (2019-2032)
- 12.6.1 China
- 12.6.2 India
- 12.6.3 Japan
- 12.6.4 South Korea
- 12.6.5 Singapore
- 12.6.6 Malaysia
- 12.6.7 Australia
- 12.6.8 Thailand
- 12.6.9 Philippines
- 12.6.10 Rest of Asia-Pacific
- SECTION 13 - SOUTH AMERICA PHASE CHANGE MATERIALS MARKET
- 13.1 South America Summary
- 13.2 Market Attractive Index
- 13.3 South America Phase Change Materials Market, by Form (2019-2032)
- 13.4 South America Phase Change Materials Market, by Type (2019-2032)
- 13.5 South America Phase Change Materials Market, by Application (2019-2032)
- 13.6 South America Phase Change Materials Market, by Country (2019-2032)
- 13.6.1 Brazil
- 13.6.2 Argentina
- 13.6.3 Chile
- 13.6.4 Colombia
- 13.6.5 Rest of South America
- SECTION 14 - MIDDLE EAST AND AFRICA PHASE CHANGE MATERIALS MARKET
- 14.1 Middle East and Africa Summary
- 14.2 Market Attractive Index
- 14.3 Middle East and Africa Phase Change Materials Market, by Form (2019-2032)
- 14.4 Middle East and Africa Phase Change Materials Market, by Type (2019-2032)
- 14.5 Middle East and Africa Phase Change Materials Market, by Application (2019-2032)
- 14.6 Middle East and Africa Phase Change Materials Market, by Country (2019-2032)
- 14.6.1 Kingdom of Saudi Arabia
- 14.6.2 South Africa
- 14.6.3 U.A.E.
- 14.6.4 Egypt
- 14.6.5 Rest of Middle East and Africa
- SECTION 15 - COMPANY SHARE ANALYSIS
- 15.1 Global Phase Change Materials Market, Company Share Analysis
- 15.2 North America Phase Change Materials Market, Company Share Analysis
- 15.3 Europe Phase Change Materials Market, Company Share Analysis
- 15.4 Asia-Pacific Phase Change Materials Market, Company Share Analysis
- SECTION 16 - COMPANY PROFILES
- 16.1 Axiotherm GmbH
- 16.1.1 Company Snapshot
- 16.1.2 Financial Overview
- 16.1.3 Product Portfolio
- 16.1.4 Recent Developments
- 16.2 Croda Europe Ltd.
- 16.2.1 Company Snapshot
- 16.2.2 Financial Overview
- 16.2.3 Product Portfolio
- 16.2.4 Recent Developments
- 16.3 Global Energy Systems Europe BV
- 16.3.1 Company Snapshot
- 16.3.2 Financial Overview
- 16.3.3 Product Portfolio
- 16.3.4 Recent Developments
- 16.4 Hangzhou Ruhr New Material Technology Co., Ltd. (‘RuhrTech’)
- 16.4.1 Company Snapshot
- 16.4.2 Financial Overview
- 16.4.3 Product Portfolio
- 16.4.4 Recent Developments
- 16.5 Microtek Laboratories, Inc.
- 16.5.1 Company Snapshot
- 16.5.2 Financial Overview
- 16.5.3 Product Portfolio
- 16.5.4 Recent Developments
- 16.6 PCM Technology
- 16.6.1 Company Snapshot
- 16.6.2 Financial Overview
- 16.6.3 Product Portfolio
- 16.6.4 Recent Developments
- 16.7 Outlast Technologies
- 16.7.1 Company Snapshot
- 16.7.2 Financial Overview
- 16.7.3 Product Portfolio
- 16.7.4 Recent Developments
- 16.8 PLUSS Advanced Technologies Pvt. Ltd.
- 16.8.1 Company Snapshot
- 16.8.2 Financial Overview
- 16.8.3 Product Portfolio
- 16.8.4 Recent Developments
- 16.9 Phase change product Pvt. Ltd.
- 16.9.1 Company Snapshot
- 16.9.2 Financial Overview
- 16.9.3 Product Portfolio
- 16.9.4 Recent Developments
- 16.10 PureTemp LLC
- 16.10.1 Company Snapshot
- 16.10.2 Financial Overview
- 16.10.3 Product Portfolio
- 16.10.4 Recent Developments
- SECTION 17 - RELATED REPORTS
- SECTION 18 - DISCLAIMER
RESEARCH METHODOLOGY
The research methodology employed in Uniprism Market Research involves four basic steps namely research and data collection, data pre-processing, modeling and forecasting, quality assurance and output.
RESEARCH AND DATA COLLECTION
A tripod model research technique is followed for research and data collection in which various approaches such as primary research, secondary research, and product mapping are considered.
Primary research basically involves the process of conducting personalized interviews with market related professionals of major market players, investors, distributors, vendors and many more.
The secondary research include data published by government, annual reports, press releases, investor presentations of companies, white papers, certified publications, annual manufacturing limit of the respective industries related to the market, production consumption analysis of certain products respective to the market and many more.
Below mention are few of the sources which we have considered while estimating the market size:
For instance,
- Research articles published on Technium
- Science and MDPI
- Research publications by government approved associations and societies
Product mapping means the process of mapping the list of products that a key player contributes to the market as well as estimating the revenue of those products in order to define the Global Company share analysis of the respective Global Company in global, regional, and country level markets.
DATA PRE-PROCESSING
The term "data pre-processing" refers to the collection of procedures and methods used to clean, modify, and make ready for analysis the raw data gathered during research and data collection. The completion of this phase is necessary to guarantee that the data are reliable, consistent, and appropriate for statistical analysis and other data-driven tasks. The data pre-processing ensures that the information gathered from research and data collection is comparable and expressed in standard units, by the integration of missing data pointers and algorithmic approaches.
MODELING AND FORECASTING
The process of developing mathematical, statistical, or computational representations of real-world occurrences or relationships is known as modelling. These models are intended to replicate and explain market interactions, interdependence, and dynamics. These models are used by Uniprism Market Research to acquire a better knowledge of numerous market characteristics such as customer preferences, pricing elasticity, competition dynamics, and more. Depending on the individual study aims, many types of models are utilized, such as regression models, econometric models, decision tree models, and machine learning models.
Forecasting is the process of predicting future market conditions, trends, and occurrences using past data and models. Forecasting is used by Uniprism Market Research to estimate future sales, demand for products or services, market growth, and other important performance metrics. Forecasting accurately can assist organizations in making educated decisions about resource allocation, pricing, inventory management, and marketing tactics.
We create standardized bottom-up or top-down models that scale by leveraging data science and machine learning technology. All our market models consider the unique market characteristics of each country. Forecasting is based on major market indicators and a combination of traditional methodologies, such as exponential smoothing, time series analysis, regression analysis, and more modern techniques such as machine learning algorithms are all forecasting methodologies. The method chosen is determined on the nature of the data and the specific forecasting aims.
QUALITY ASSURANCE AND OUTPUT
Quality assurance and output involves the process of validation, adjustments, further publications of key market indicators. Extensive plausibility and consistency tests are performed on derived time series to ensure the high degree of quality of our market analysis. This quality assurance procedure also includes rigorous inspection, validation, and editing by an experienced management team to assure the dependability of the published data.