Global Phase Change Materials Market: Overview
Phase change materials are capable materials for storing and releasing large amounts of energies. These are designed to change their phases from +2°C to +8°C range and are recommended for vaccine storage and transport. Phase change materials are purposely filled in a leak-proof pack with a high amount of latent heat of fusion.
The principle mechanism beyond phase changing is, heat energy is absorbed and released when the material changes from solid to liquid or vice versa. Apart, from that phase change materials have huge variety applications. They are used for storing heat for air-conditioning, peak heat reduction of load, as buffer storage for solar based applications etc.
These phase change materials are not water-based substances, generally filled with various types of paraffin wax or vegetable-sourced substances. PCM material selection is based on various capacities such as melting temperature, latent and sensible heat, cyclic property, cost, fire hazard and others.
With the increasing population, rapid urbanization and changing life style the demand for RAC (Refrigeration and air-conditioning) products have been significantly increasing. Posing demand for renewable RAC based products such as phase change materials incorporated products.
Industrial emission are the major cause of increasing greenhouse gases in the atmosphere which has become a significant factor for global warming resulting in greenhouse effect which is driving climatic changes such as increasing temperatures in the regions creating demand for phase change material based projecting growth in global phase change materials market.
There are also a few restrains to the global phase change materials market such as unacceptance of such an advance technology by the end consumer may be a key restrain for global phase change materials market.
COVID-19 Impact on Global Phase Change Materials Market
COVID-19 declared a pandemic by the World Health Organization (WHO) in the early march 2020 has enforced countries to impose lockdown and abide strict social distancing measures leading to market shut down and flattening economic curve across the globe. On the other hand, the supply and demand chain has been massively disrupted leading to a global economic loss. Plants shut down in North America, APAC and Europe in the second quarter of 2020 has reduced the production of Phase change materials which in turn affected the Global phase change materials Market.
With reducing Covid-19 cases in some regions operations have been were resumed during the fourth quarter of 2020. The new Covid-19 strain which was first discovered in United Kingdom is spreading faster which may further force the regulatory bodies to impose lockdowns.
To cycle the supply chain regulatory bodies have allowed manufacturing sectors to proceed with production. However, by following COVID-19 guidelines and alternative rotation of workers can help the global phase change materials market to bounce back strongly by the first quarter of 2021.
Segmentation Analysis of Global phase change materials Market
The Global phase change materials market is bifurcated into three major segments: material type, application and region.
Based on the material type, Global phase change materials market is segmented as follows:
- Organic phase change materials
- Inorganic phase change materials
- Salt hydrates
- Metallic alloys
- Eutectic phase change materials
- Organic-Organic (a mixture of both)
Based on application, Global phase change materials market is segmented as follows:
- Positive Temperature
- Chilled Food Transport
- Drink Cooling
- Drink Vending
- Medicine & Vaccine Transport
- Air Conditioning
- Building Passive Cooling
- Water Heating
- Solar Heating
- Waste Heat Storage
- Heat Rejection Systems
- Telecommunication Shelter Cooling
- Electronic / Battery Cooling
- Heat Pumps
- Negative Temperature
- Temperature Controlled Packaging
- Frozen Food Transportation
- Ice Cream Vending
- Medicine & Vaccine Transport
- Food Stall Cooling
- Automotive Cooling Applications
- Marine Refrigeration
- Cold Store Back-up
- Transport Refrigeration
- Body Cooling
- Medical Passive Cooling
- Temperature Controlled Transport
Based on the global split, Global phase change materials market is segmented as follows:
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Presently, European markets are dominating the global phase change materials (PCM) market followed by North America due to their technological advancements. The market being consolidated many companies are working and investing in the R&D for many innovative applications. Many Industries are working under German-based non-profit organization for global advancement of phase change materials market.
Being a well-developed large manufacturing sector in phase change materials, Europe market is experiencing a surge in demand from the key end-users such as healthcare, aerospace, automotive, and others. Germany being leading producer and exporter of phase change materials is significantly contributing to the market growth to keep the Europe phase change materials market in the leading position. Thus, aiming to gain a major market share in phase change materials market in upcoming years. According to Fact.MR, European Phase change materials market will sustain in its position in the coming years.
Regions such as North America, China, Japan, Australia, Southern Europe, and India experience summer at peak levels because of their climatic conditions. That’s why consumption of cooling machines such as air conditioners are always high in these region. There are chance of increase in consumption of phase change material based products in these regions. Creating a significant demand for global phase change materials market.
Global Phase Change Materials Market: Key players
Key players are the dominating members in the global phase change materials market due to their innovation and applications. Phase change materials market is consolidated by few players. Key players in the phase change materials market are ruling by investing their cash flows in R&D. Many non-profit government organizations are backing the industrial market for the global and regional developments.
Some of the major key players covered in global phase change materials market report are given below
- 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
- Rubitherm technologies gmbh
- Sasol Germany GmbH
- BASF SE
Some of the Key players in global phase change materials market have been following organic growth strategy such as product launch to sustain the market. Recently one of the key players Rubitherm technologies gmbh have come up with phase change material based PhaseCube. PhaseCube is capable of drawing outside air inside the room during day time. During this process the warm air entering the room is cooled using cold stored during night.
It has been claimed that temp more than 30 degree can be reduced to 23 degree. Also, PureTemp LLC have launched temperature-control coating for fabrics to control ambient temperature swings in workwear, footwear, safety ware, beddings and other industrial applications. There are chances for new comers to enter in the market with new advanced phase change material which the need of hour and can create impact in phase change materials market.
The research report presents a comprehensive assessment of the global phase change materials market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The global phase change materials market report provides analysis and information, according to market segments such as geographies, product type, material type and end-use.
The Global Phase Change Materials Market Report Covers Exhaustive Analysis On:
- Global Phase Change Materials Market Segments
- Global Phase Change Materials Market Dynamics
- Global Phase Change Materials Market Size & Demand
- Global Phase Change Materials Current Trends/Issues/Challenges
- Global Phase Change Materials Market Competition & Companies involved Technology
- Global Phase Change Materials Value Chain
The Global Phase change materials Market Regional Analysis Includes:
- North America (U.S., Canada)
- East Asia (China, Japan, South Korea)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
The Global phase change materials market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Global phase change materials report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. The Global phase change materials market report also maps the qualitative impact of various market factors on market segments and geographies.
The Global Phase Change Materials Market Report Highlights:
- A detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint.
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