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Phase Change Materials: Technologies and Global Markets

  • June 2017
  • 134 pages
  • BCC Research
Report ID: 2403045

Summary

Table of Contents

• The global phase change materials (PCM) market reached $681 million in 2015. This market is expected to increase from $810 million in 2016 to $2.0 billion in 2021 at a compound annual growth rate (CAGR) of 20.1% for 2016-2021.
• Building and construction market is expected to grow from $210 million in 2016 to $560 million in 2021 at a CAGR of 21.7% from 2016 through 2021.
• Commercial refrigeration market is expected to grow from $158 million in 2016 to $392 million in 2021 at a CAGR of 19.9% from 2016 through 2021.

Chapter 1: Introduction
This report analyzes the global market for phase change materials (PCMs) in terms of growth, market size and opportunities with regard to applications, products and region. The report includes forecast revenue through 2021. This report discusses market dynamics of PCMs across North America, Europe,
Asia-Pacific and the rest of the world. PCMs, or latent heat storage (LHS) materials, store and release large amounts of heat/energy to maintain constant temperature. These materials differ from other insulation materials because, upon reaching their melting point (the temperature at which they change their phase, solid to liquid, etc.), they absorb large amounts of heat and release stored latent heat. These materials are used for cooling and heating applications across industries such as construction, commercial refrigeration, textiles, heating, and ventilation and air conditioning (HVAC), among others. Increased use of such materials helps conserve energy.

Several research initiatives are in progress to integrate LHS materials in different applications. This will not only help in saving costs but will also increase revenues as more efficient use of applications comes into play. However, integration of materials in the end products and disseminating information about
the use of these materials to save energy are still major challenges. PCMs are expected to continue to see a high growth rate, as there is an increasing demand for “green buildings” and energy-saving materials for use in applications such as building and construction, commercial refrigeration and HVAC. In this report, the various PCMs (salt hydrates, paraffin, fatty acids, eutectic salts) are studied on the basis of applications, materials and region. Paraffin market share is the largest in terms of value, while building and construction and commercial refrigeration are boosting the growth of the application market. The reason for this is an increase in demand for energy for cooling of buildings. Also, the application of PCMs in textiles, and shipping and transportation, is expected to see significant growth in the next five years.


Study Goals and Objectives
• Define the global PCM market.
• Analyze market structure by materials and applications.
• Estimate market revenues of the global PCM market by region and applications.
• Identify market trends, issues and factors impacting the global PCM market.
• Study various applications of the global PCM market with respect to growth drivers and restraints.
• Discuss opportunities in the global PCM market with respect to region and applications.
• Profile major players in the global PCM market and discuss their products and recent developments.
• Track alliances, joint ventures, mergers and acquisitions, new products and other developments and research and development (R&D) in the global PCM market.


Scope of Report
This research report incorporates an in-depth analysis of the global PCM market, including market estimates and trends through 2021. This report analyzes market dynamics of such applications across North America, Europe, Asia-Pacific and the rest of the world. Major players, competitive intelligence, innovative technologies, market dynamics and geographic opportunities are discussed in detail. The global PCM market is analyzed for PCMs by type, application and region. The report also discusses recent corporate developments for the major players, as well as their product portfolios. Patent analysis provides trends over the past two to three years in the U.S., Europe and Japan.


Intended Audience
• PCM manufacturers and recent entrants to the PCM market.
• End users such as building and construction, commercial refrigeration, HVAC and textile manufacturers, and others.
• Suppliers of raw materials.
• Research institutes, associations and academia


Research Methodology
We have used primary and secondary research for our market estimates and forecasts. Secondary research forms the initial phase of our study, where we conduct extensive data mining, referring to verified data sources such as independent studies, government and regulatory published material, technical journals, trade magazines and paid data sources. This forms the basis of our estimates. For forecasting, the following parameters were considered:

• Market drivers and restraints, along with their current and expected impact.
• Technological scenario and expected developments.
• End-use industry trends and dynamics.
• Trends in consumer behavior.

We assigned weights to these parameters and have quantified their market impact, using weighted average analysis, to derive an expected market growth rate. All our estimates and forecasts were verified through primary research with stakeholders who typically include:

• Market leaders.
• Raw material manufacturers.
• Domain experts.

The key objectives of primary research are as follows:
• To validate our data in terms of accuracy and acceptability.
• To gain insight into the current market and future expectations.
The report provides market value for 2015 and a forecast for 2021 in terms of revenue ($ millions). The market for each application and product has been provided on a regional basis for this forecast period. Key industry dynamics, regulatory scenario, major technological trends and application markets are
evaluated to understand their impact on demand for the forecast period. Growth rates are estimated using correlation, regression and time-series analysis.
We have used a bottom-up approach for market sizing, analyzing key regional markets, market dynamics and trends for various end-uses. The global market is estimated by integrating regional markets. Estimated values used are based on manufacturers’ total revenues.


Geographic Breakdown
In this report, the geographic regions considered for market analysis include, and only include:
• North America
• Europe
• Asia-Pacific
• Rest of World

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