Phase Change Materials Market: Asia Pacific is expected to witness the highest growth during 2015-2020

Phase Change Materials Market

Phase change material or PCMs are substances that change their state with heat absorbance and loss of heat. These materials store latent heat during phase change, thus called as phase changing materials. The Phase Change Materials Market deals with demand and supply, production and scope of PCMs in various applications across the globe during 2015-2020.

Europe dominates the Phase Change Materials Market with high utilization of the phase change materials in construction and other industrial applications. North America has stable market for the PCMs in the region and expected to witness good growth in upcoming years.

The rise in construction and building in the countries like China, India, Brazil and South Africa are stated to boost the demand for phase change materials in the coming years. With high scale use of the Phase Change Materials Market products in the APAC region, this region is expected to witness the high growth during 2015-2020.

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Bio based phase change materials are expected to gain more prominence in the Phase Change Materials Market due to environmental concerns. Thus, bio based materials are the fastest growing rate type in this market during 2015-2020.

The Phase Change Materials Market is segmented into various categories in the IndustryARC market research report by type, by application and by geography.

By type: inorganic, organic (paraffin wax, fatty acids, bio-based), eutectics and hygroscopics

By application: building and construction, energy storage, HVAC, shipping and transportation, commercial refrigeration, solar energy storage and others

By geography: North America, South America, Europe, Asia Pacific and ROW

According to the IndustryARC market research report, some of the noteworthy key players in the Phase Change Materials Market are as follows:

  • Honeywell International Inc.
  • The Dow Chemical Company
  • I. Du Pont De Nemours and Company
  • Phase Change Energy Solutions Inc.

The Phase Change Materials Market is a growing market with wide scope of applications in various end user industries across the globe during 2015-2020. This market is forecasted to witness high growth due to rise in urbanization and industrialization in many regions, thus it is a profitable market for investment in upcoming years.

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