Publishing: May 2021 | Report Code: CM12159 | Available Format: PDF
The key trend observed in the global phase-change material market is the growing awareness on energy conservation and sustainable development. In addition, the increasing usage of these materials for transporting life-saving drugs and perishable food products is contributing to the market growth. These materials help in maintaining the required temperature within refrigerated trucks and containers.
The phase-change material market has been classified into inorganic, organic, eutectic, and hygroscopic, based on type. Of these, organic phase-change materials are expected to dominate the market, as they have the ability to absorb and release a large amount of latent heat during the phase-change process over a wide temperature range. The growing demand for these organic materials in building & construction is expected to help the market advance in this category in the coming years.
The phase-change material market has also been classified into macro, micro, and molecular, based on encapsulation technology. Of these, the micro and macro encapsulation technologies together dominate the market. Phase-change materials based on these technologies are incorporated in final products, such as bedding & mattresses, automotive interiors, and clothing, to control temperature.
The phase-change material market, on the basis of end user, has been categorized into building & construction, packaging, electronics, transportation, and textiles. Among these, the building & construction category is expected to hold a significant market share during the forecast period (2021–2030). This is due to the technological advancements to produce high-quality materials for building & construction applications.
Growing innovations and technological advancements in the phase-change material market is majorly responsible for driving the product demand around the world. The incorporation of nano-encapsulation technology improves the material’s suitability to be integrated in building components, which further improves the thermal properties of building materials. In addition, the encapsulation of solid–liquid phase-change materials allow the materials to remain solid when the core is melted. The incorporation of these materials in applications such as aerospace and medical textiles, sportwear, and combat wear, owing to their aforementioned properties is driving the market growth.
The high production cost of phase-change materials and the volatility in the prices of raw materials are some barriers hindering the market growth. Since crude oil is the basic raw material for the production of these materials and is subject to volatility in prices, a slight change in its price may affect the market growth.
Some of the major companies operating in the global phase-change material market are Microtek Laboratories Inc., Henkel AG & Co. KGaA, Parker-Hannifin Corporation, Croda International plc, and Cryopak A TCP Company.
The study provides the historical as well as the forecast size of the phase-change material market.
The phase-change material market report offers comprehensive market segmentation analysis along with market estimation for the period 2014–2030.
Based on Type
Based on Encapsulation Technology
Based on End User
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