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.
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The principle mechanism beyond phase changing is, heat energy i s 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.
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.
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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.
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