The Phase Change Materials Global Market Report 2023, provides comprehensive information on the phase change materials market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Phase Change Materials Global Market Report 2023, the global phase change materials market size grew from $1.29 billion in 2022 to $1.57 billion in 2023 at a compound annual growth rate (CAGR) of 21.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the phase change materials market is expected to grow to $2.92 billion in 2027 at a CAGR of 16.8%.
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The introduction of bio-based phase change material fabric coatings is shaping the phase change materials market. Bio-based phase change materials are manufactured using bio-based products such as beef tallow or oils from coconut, palm, and soybeans. For instance, In February 2021, Royal DSM, a Dutch multinational corporation, launched bio-based Arnitel, a thermoplastic elastomer, with Sympatex Technologies. DSM Engineering Materials is facilitating membrane manufacturers by providing a new variety of mass-balanced bio-based Arnitel. Arnitel, a bio-based product from DSM, is produced utilising a mass-balance method with bio-based feedstock. More than 25% of the final product’s weight is made up of bio-based materials.
The phase change materials market is segmented:
1) By Type: Organic, Inorganic, Bio-based
2) By Encapsulation Technology: Macro, Micro, Molecular
3) By Product: Paraffin, Non-Paraffin, Salt Hydrates, Eutectics
4) By End-User: Building and Construction, Packaging, Textiles, Electronics, Transportation, Other End-Users
Europe was the largest region in the phase change materials market in 2022.
The table of contents in TBRC’s phase change materials market report includes:
- Executive Summary
- Phase Change Materials Market Characteristics
- Phase Change Materials Market Trends And Strategies
- Phase Change Materials Market – Macro Economic Scenario
- Phase Change Materials Market Size And Growth
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- Africa Phase Change Materials Market
- Phase Change Materials Market Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions In The Phase Change Materials Market
- Phase Change Materials Market Future Outlook and Potential Analysis
- Appendix
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