Phase Change Materials Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product Type (Organic, Inorganic, and Bio-based), Encapsulation Technology (Macro, Micro, and Molecular), End-user Industry (Building and Construction, Packaging, Textiles, Electronics, Transportation, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, and Rest of the World).

Market Snapshot

Phase Change Materials Market Summary
Study Period:

2016 - 2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

Europe

CAGR:

<20 %

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Market Overview

The phase change materials market is expected to register a CAGR of around 20% during the forecast period. Major factors driving the market studied are the growing demand from the building and construction industry and the growing global trend toward energy-saving and sustainable development. However, the high cost of material and manufacturing process is expected to hinder the growth of the market studied.

  • The organic product segment dominated the market, and it is expected to grow during the forecast period, owing to the growth of construction industries in North America and Asia-Pacific.
  • Development of phase change thermal interface material is likely to act as an opportunity in the future.

Scope of the Report

The scope of the phase change materials market report includes:

By Product Type
Organic
Inorganic
Bio-based
By Encapsulation Technology
Macro
Micro
Molecular
By End-user Industry
Building and Construction
Packaging
Textiles
Electronics
Transportation
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
Rest of the World
Brazil
Saudi Arabia
South Africa
Other Countries

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Key Market Trends

Growing Demand from the Building and Construction Industry

  • The building and construction industry has witnessed significant growth worldwide. There is continuous technological advancement to produce high-quality materials for building and construction activities. Phase change material is one such development, which is slowly penetrating the global construction industry.
  • Developed economies in Europe and North American regions are witnessing a strong demand for high-end infrastructure projects, which in turn, generates demand for high-quality building and construction materials and services.
  • Leading construction companies are looking to leverage this demand and are incorporating high-quality materials, such as phase change material in its design. In residential buildings, phase change material finds a wide range of applications, since it plays a major role in helping to smooth out temperature fluctuations. In fact, phase change material is the only technology that can curb temperature increase in indoor application, without causing energy expenses.
  • The demand for phase change material in the construction industry is growing rapidly in North America. Green buildings that include smart features to ensure energy-efficiency, which attracts the highest interest, uses phase change material in its construction. This has made these buildings gain higher LEED (Leadership in Energy and Environmental Design) ratings by the United States Green Building Council.
  • The demand for phase change materials in Asia-Pacific is also witnessing moderate growth, owing to rapid urbanization and the growing demand for sustainable buildings, despite the soaring property prices.
Phase Change Materials Market Revenue Share

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China to Dominate the Asia-Pacific Region

  • China has the highest share in the market in the Asia-Pacific region. The market is primarily driven by the increase in demand from the end-user industries, including building and construction, packaging, textile, electronics, and transportation.
  • In China, the packaging is also one of the major industries, where phase change materials are used for food packaging, medical packaging, and biological and chemical packaging.
  • Furthermore, the uses of phase change materials are prominent in the construction industry, as the country is focusing on energy-efficient buildings.
  • Phase change materials are widely used in electronics. The electronics industry in China holds a major share in the Asia-Pacific region and also across the world, aiding to its significant turnover over the years.
  • Phase change materials are widely used in the heating ventilation and air conditioning (HVAC) systems. With the increasing domestic and global demand for electronics and the country’s transition toward renewable energies, the demand for phase change materials in the electronics industry is also expected to grow during the forecast period.
  • All the aforementioned factors are likely to increase the demand for phase change materials over the forecast period. 
Phase Change Materials Market Regional Trends

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Competitive Landscape

The phase change materials market is fragmented. The major companies include Cryopak A TCP Company, Microtek Laboratories, Inc., Henkel AG & Co. KGaA, Parker Hannifin Corp., and Croda International PLC.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from the Building and Construction Industry

      2. 4.1.2 Environmental Concerns over Reducing Greenhouse Emissions

      3. 4.1.3 Growing Global Trend toward Energy Saving and Sustainable Development

    2. 4.2 Restraints

      1. 4.2.1 High Cost of Material and Manufacturing Process

      2. 4.2.2 Hazardous Nature of Phase Change Materials

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Raw Material Analysis

    6. 4.6 Patent Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Organic

      2. 5.1.2 Inorganic

      3. 5.1.3 Bio-based

    2. 5.2 By Encapsulation Technology

      1. 5.2.1 Macro

      2. 5.2.2 Micro

      3. 5.2.3 Molecular

    3. 5.3 By End-user Industry

      1. 5.3.1 Building and Construction

      2. 5.3.2 Packaging

      3. 5.3.3 Textiles

      4. 5.3.4 Electronics

      5. 5.3.5 Transportation

      6. 5.3.6 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Saudi Arabia

        3. 5.4.4.3 South Africa

        4. 5.4.4.4 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Aavid Kunze GmbH (Boyd Corporation)

      2. 6.4.2 AI Technology Inc.

      3. 6.4.3 Appvion Inc.

      4. 6.4.4 Climator Sweden AB

      5. 6.4.5 Cosella-Dorken Products Inc.

      6. 6.4.6 Croda International PLC

      7. 6.4.7 Cryopak A TCP Company

      8. 6.4.8 Datum Phase Change Ltd

      9. 6.4.9 Entropy Solutions LLC

      10. 6.4.10 Henkel AG & Co. KGAA

      11. 6.4.11 Kaplan Energy

      12. 6.4.12 Laird Technologies

      13. 6.4.13 Microtek Laboratories Inc.

      14. 6.4.14 National Gypsum Company

      15. 6.4.15 Outlast Technologies LLC

      16. 6.4.16 Parker Hannifin Corporation

      17. 6.4.17 PCM Products Ltd

      18. 6.4.18 Phase Change Energy Solutions Inc. (PCES)

      19. 6.4.19 Phase Change Products Pty Ltd (PCP)

      20. 6.4.20 Pluss Polymers Pvt Ltd

      21. 6.4.21 Rubitherm Technologies Ltd

      22. 6.4.22 Schoeller Textiles AG

      23. 6.4.23 Shenzhen Aochuan Technology Co. Ltd

      24. 6.4.24 Shin-Etsu Chemical Co. Ltd

      25. 6.4.25 Sonoco Thermosafe (SON)

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Growing Applications in the Textile Industry

    2. 7.2 Development of Phase Change Thermal Interface Material

    3. 7.3 Rising Awareness of Bio-based Phase Change Materials

    4. 7.4 Niche Applications

      1. 7.4.1 Phase Change Memory

      2. 7.4.2 Nano-scale Switching

      3. 7.4.3 Glazing

      4. 7.4.4 Other Applications

**Subject to Availability

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Frequently Asked Questions

The Phase Change Materials Market market is studied from 2016 - 2026.

The Phase Change Materials Market is growing at a CAGR of <20% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

  • Microtek Laboratories Inc.
  • Henkel AG & Co. KGaA
  • Parker Hannifin Corp.
  • Croda International PLC
  • Cryopak A TCP Company

Are the major companies operating in Phase Change Materials Market.

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