Phase Change Material Market Trends, Size, Growth, Opportunity and Forecast till 2029
Phase Change Material Market Overview:
The Phase Change Material Market research provides a comprehensive insight into the competition, including the market share and company profiles of the world’s biggest rivals. The research scope covers a comprehensive examination of the Phase Change Material Market, as well as the causes for variances in the industry’s growth across a variety of sectors.
Phase Change Material Market size was valued at USD 1478 Mn. in 2021 and the total Phase Change Material revenue is expected to grow at 15.8% from 2022 to 2029, reaching nearly USD 4779.06 Mn.
Market Scope:
Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.
Segmentation:
By Type, the Inorganic segment dominated the Phase Change Material (PCM) market with the highest market share in 2021 and is expected to maintain its dominance at the end of the forecast period. Inorganic PCMs have a relatively high heat of fusion, strong thermal conductivity, are inexpensive, and are non-flammable. Most of them, however, is corrosive to most metals, suffer supercooling, and phase breakdown. Hydrated salts are the most frequent inorganic PCMs and hence drive segment growth.
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Key Players:
• Cold Chain Technologies, Inc.
• Croda International Plc.
• Microtek Laboratories Inc.
• Sasol Limited
• PureTemp LLC.
• Henkel AG & Company KGAA
• Outlast Technologies LLC.
• Advansa B.V.
• AI Technology Inc.
• Climator Sweden AB
• Ciat Group
• Honeywell Electronic Materials, Inc.
• Phase Change Materials Products Ltd.
• Rubitherm Technologies GmbH
• Teappcm
• BASF SE
• SGL Group
• Salca BV
• Rubitherm Technologies GmbH
• Pluss Advanced Technologies Pvt. Ltd.
• RGEES, LLC.
• Outlast Technologies LLC.
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Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and markePhase Change Materialg executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and markePhase Change Materialg executives, while secondary research included a review of the main manufacturers’ annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.
The biggest players in the Phase Change Material market are as follows:
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Regional Analysis:
Individual market influencing components and changes in market laws impacPhase Change Materialg current and future market trends are also covered in the Phase Change Material market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer fooPhase Change Materialg. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Phase Change Material Market:
End-user industries where Phase Change Material are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Phase Change Material manufacturers, harming the Phase Change Material market’s growth in 2020. End-user business demand for Phase Change Material has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.
Key Questions Answered in the Phase Change Material Market Report are:
- In 2021, which segment accounted for the most share of the Phase Change Material market?
- What is the competitive landscape of the Phase Change Material market?
- What are the key factors influencing Phase Change Material market growth?
- In the Phase Change Material market, which region has the most market share?
- What will be the CAGR of the Phase Change Material market during the forecast period (2022-2027)?
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