Global Phase Change Material Market Overview:
Increasing use in logistics & cold chains, buildings, textiles, and electronic applications will help to boost phase change memory market. A phase change material (PCM) is a material with a high heat of fusion which, melting as well as solidifying at a certain temperature, is capable of storing and releasing large amounts of energy. Temperature controlled packaging based on PCM is used for moving pharmaceuticals and life-saving drugs and perishable foods. PCM is enabled in maintaining the essential temperatures within containers and refrigerated trucks. Some of the key players profiled in the study are Honeywell Electronic Materials, Inc. (United States), Laird Plc (United Kingdom), Sasol Ltd. (South Africa), Croda International Plc. (United Kingdom), Entropy Solutions LLC (United States), Rubitherm Technologies GmbH (Germany), Phase Change Materials Products Ltd. (United Kingdom), Microtek Laboratories Inc. (United States), Pluss Technologies Pvt. Ltd. (India) and Phase Change Energy Solutions Inc. (United States). According to Market Analyst at AMA, the Global Phase Change Material market may see a growth rate of 19.58%
On the basis of geography, the market of Phase Change Material has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2018. North America on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Phase Change Material market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- High Demand due to Use of Advanced PCM for Peak-Load Shifting
- Rising Demand Energy Saving
Market Trend
- Regulations for Reducing Greenhouse Gas Emissions
- Use of Advanced PCM for Temperature Control and Increased Comfort
- Availability of Advanced PCM in Various Grades
Restraints
- No Government Subsidy
- Lack of Awareness about PCM
Opportunities
- R&D Initiatives for Higher Advanced PCM Efficiency
Challenges
There are opportunities for the vendors in the phase change material market for strengthening their distribution partner relationships, developing new technologies as well as focusing on marketing & branding their products in order to gain market share in phase change material market.
Target Audience:
PCM Manufacturers, Dealers, and Suppliers, Government Bodies, End-use Industries, Feedstock Suppliers, Industry Associations, Large Infrastructure Companies, Investment Banks and Consulting Companies/Consultants in Chemical and Material Sectors
Major Objectives Focused through this Study
To define, describe, and forecast the Global Phase Change Material market on the basis of product [Organic, Inorganic and Bio-based] , application [Building & Construction, HVAC, Cold Chain & Packaging, TES, Refrigeration & Equipment, Electronics, Textiles and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Phase Change Material market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Phase Change Material industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization:
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Outlast Technologies LLC (United States), Advansa BV (Netherlands), AI Technology Inc. (United States), Cryopak Industries Inc. (Canada), Datum Phase Change Limited (United Kingdom) and Dow Corning Corporation (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Phase Change Material market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.