Advanced Phase Change Materials Industry
Phase change materials (PCMs) are used for thermal energy storage, enabling the temporary storage of low- or high-temperature energy for later use. Offering a range of thermal management solutions, PCMs facilitate the ability to manage demand between energy requirements and usage. These materials store and release thermal energy on transitioning from one phase to another, that is, when materials freeze, large amount of energy is released as latent heat fusion or energy of crystallisation. Conversely, energy is absorbed from the environment as solids melt into liquid.
For more information see: Phase change materials.
Phase change materials are used for storing latent heat during the phase transition enabling the temporary storage of low or high-temperature energy for later use. This latent heat transition can be achieved with solid-solid, solid-liquid, solid-gas, and liquid-gas phase change. However, at the commercial level, only solid-liquid phase change is used in advanced PCMs since other methods require a large volume and high pressure.
One of the key drivers associated with the growth of advanced phase change materials market is the construction and building sector. Other factors such as increasing awareness of energy conservation, technological advancements in the applications of advanced phase change materials in the textile sector and urbanisation in developing countries are further boosting market growth. However, the high cost associated with advanced phase change materials may hold back the market growth globally.
The Global Advanced Phase Change Materials Market is expected to witness high growth to 2027.
The Global Advanced Phase Change Materials market is segmented by type, application and region:
- With respect to the type, the market is segmented as Organic PCM, Inorganic PCM, and Bio-based PCM.
- On the basis of application, the materials market is segmented into Building & Construction, Energy Storage, HVAC, Shipping & Transportation, Electronics, Textiles, and others.
- By region it is segmented into North America, Europe, APAC, MEA, and South America.
The main players in the market are.
- Advansa B.V.
- BASF SE
- Cryopak
- E. I. Du Pont De Nemours And Company
- Entropy Solutions
- Microtek Laboratories, Inc.
- Outlast Technologies LLC
- Phase Change Energy Solutions
- Pluss Advanced Technologies Pvt. Ltd.
- Sonoco Products Company
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