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Europe Phase Change Material Market Size (2024 - 2029)

The Europe Phase Change Material Market is projected to experience significant growth over the forecast period, driven by an increasing emphasis on green construction and the development of energy-efficient buildings. Despite challenges posed by the COVID-19 pandemic, which disrupted supply chains and affected raw material availability, the market has seen a resurgence in demand, particularly in the construction sector. While high initial costs and the presence of alternative materials pose challenges, innovations in product development and a focus on green building certifications present opportunities for market expansion. Germany is anticipated to lead the market during this period.

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Market Size of Europe Phase Change Material Industry

Europe Phase Change Material Market Summary
Study Period 2019-2029
Base Year For Estimation 2023
Market Size (2024) USD 392.74 Million
Market Size (2029) USD 615.73 Million
CAGR (2024 - 2029) 9.00 %
Market Concentration Medium

Major Players

Europe Phase Change Material Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Phase Change Material Market Analysis

The Europe Phase Change Material Market size is estimated at USD 392.74 million in 2024, and is expected to reach USD 615.73 million by 2029, growing at a CAGR of 9% during the forecast period (2024-2029).

The COVID-19 disrupted the phase change materials market in Europe. Lockdowns, restrictions, and disruptions in transportation networks led to challenges in the supply chain. This affected the availability of raw materials and components for PCM manufacturing. However, as lockdowns eased and construction activities resumed, there was a renewed demand for PCM in the construction industry.

Increasing focus on green construction and increasing construction of energy-efficient buildings in Europe are expected to drive the phase change materials market in Europe.

On the flip side, high initial costs and the availability of alternatives restrain the phase change materials market in Europe.

Furthermore, innovations in product development and a growing emphasis on green building certification programs in Europe are expected to provide opportunities to market players for the market studied.

Germany is likely to dominate the market during the forecast period.

Europe Phase Change Material Industry Segmentation

Phase change materials are substances that can store and release thermal energy during the process of changing from one phase to another, typically from solid to liquid and vice versa. This phase transition occurs at a specific temperature known as the material's melting or freezing point. It has various applications, such as thermal regulation in buildings, energy storage, and temperature control in industries like electronics and transportation.

Europe's phase change material market is segmented on the basis of type, end-user industry, and geography (France, Germany, Italy, NORDIC, Russia, Spain, Turkey, United Kingdom, and Rest of Europe). Based on type, the market is segmented into inorganic, organic, and bio-based. Based on the end-user industry, the market is segmented into building and construction, HVAC systems, textiles, electronics, transportation, cold chain logistics, and other end-user industries (energy storage, medical industry). The report also covers the market size and forecasts for the Europe phase change materials market in 8 countries across the Europe region.

For each segment, the market sizing and forecasts have been done on the basis of value (USD).

Type
Inorganic
Organic
Bio-Based
End-User Industry
Building and Construction
HVAC Systems
Textiles
Electronics
Transportation
Cold Chain Logistics
Other End-User Industries (Energy Storage, Medical Industry)
Geography
France
Germany
Italy
NORDIC
Russia
Spain
Turkey
United Kingdom
Rest of Europe
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Europe Phase Change Material Market Size Summary

The Europe phase change material market is poised for significant growth, driven by the increasing emphasis on green construction and energy-efficient building practices. The market, which experienced disruptions due to the COVID-19 pandemic, is recovering as construction activities resume and demand for sustainable building solutions rises. Phase change materials are integral to optimizing energy use in buildings, particularly in enhancing the efficiency of heating, ventilation, and air conditioning systems. Despite challenges such as high initial costs and the availability of alternatives, innovations in product development and a focus on green building certification programs are expected to create opportunities for market players. Germany is anticipated to lead the market, supported by its robust construction sector and increasing investment in non-residential buildings.

The application of phase change materials in the construction industry is crucial for thermal energy storage and regulation, contributing to the development of energy-efficient and sustainable buildings. The market's growth is further supported by the rising demand for energy-efficient solutions to meet environmental standards across Europe. The construction industry's expansion, particularly in Germany and the United Kingdom, underscores the increasing demand for phase change materials. Key players in the market, such as Henkel AG & Co.KGaA, Croda International Plc, and Parker Hannifin Corp, are actively innovating and launching new products to meet the evolving needs of the construction sector. These developments are expected to significantly impact the market dynamics during the forecast period.

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Europe Phase Change Material Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Increasing Focus on Green Construction

      2. 1.1.2 Increasing Construction of Energy-Efficient Buildings

    2. 1.2 Restraints

      1. 1.2.1 High Initial Costs

      2. 1.2.2 Availability of Alternatives

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Value)

    1. 2.1 Type

      1. 2.1.1 Inorganic

      2. 2.1.2 Organic

      3. 2.1.3 Bio-Based

    2. 2.2 End-User Industry

      1. 2.2.1 Building and Construction

      2. 2.2.2 HVAC Systems

      3. 2.2.3 Textiles

      4. 2.2.4 Electronics

      5. 2.2.5 Transportation

      6. 2.2.6 Cold Chain Logistics

      7. 2.2.7 Other End-User Industries (Energy Storage, Medical Industry)

    3. 2.3 Geography

      1. 2.3.1 France

      2. 2.3.2 Germany

      3. 2.3.3 Italy

      4. 2.3.4 NORDIC

      5. 2.3.5 Russia

      6. 2.3.6 Spain

      7. 2.3.7 Turkey

      8. 2.3.8 United Kingdom

      9. 2.3.9 Rest of Europe

Europe Phase Change Material Market Size FAQs

The Europe Phase Change Material Market size is expected to reach USD 392.74 million in 2024 and grow at a CAGR of 9% to reach USD 615.73 million by 2029.

In 2024, the Europe Phase Change Material Market size is expected to reach USD 392.74 million.

Europe Phase Change Material Market Report Snapshots

Europe Phase Change Material Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)