International Advanced PCM Market to see 20% CAGR in Coming Years Says a New Phase Change Material Research Report
DALLAS, January 7, 2015 /PRNewswire/ --
ReportsnReports.com adds "Advanced Phase Change Material (PCM) Market by Type and Application - Global Trends & Forecasts to 2019" research report to the advanced material industry intelligence collection of its online business research and data library.
The market for advanced PCM (phase change materials) is estimated to grow on account of the increasing energy efficiency regulations, the need for reducing greenhouse emissions, for efficient harnessing of alternative energy, and for reducing operating costs in buildings. High production and encapsulation costs associated with advanced PCM manufacture, lack of awareness, and high investment and R&D costs are the restraining factors for the market. Complete report titled Advanced Phase Change Material (PCM) Market by Type (Organic, Inorganic & Bio-based) and Application (Building & Construction, HVAC, Shipping & Packaging, Cold Chain, Thermal Energy Storage (TES), Textile, and Electronics) - Global Trends & Forecasts to 2019 is available at http://www.reportsnreports.com/reports/237733-advanced-phase-change-material-pcm-market-by-type-inorganic-organic-bio-based-application-building-construction-cold-storage-hvac-textile-thermal-energy-storage-electronics-global-trends-forecast-to-2018.html .
Region-wise, Europe is leading the advanced PCM market. Growth in Europe is led by the enforcement of energy efficiency regulations for buildings in the region and the need to reduce operating costs. Europe is also estimated to have the highest growth in the market on account of the increasing awareness about the benefits of advanced PCM and the level of commercialization of advanced PCM in the region. The Americas is the second-largest market for advanced PCM and is projected to have a steady growth between 2014 and 2019. Asia-Pacific is estimated to have high growth in the market due to the region's favorable prospects; several companies are expanding in Asian countries to benefit from the low-cost structures and growing local demand for advanced PCMs for various applications, such as HVAC, cold chain, thermal energy storage, textiles, shipping, packaging & transportation, among others.
Organic PCM (phase change material) market segment had the largest market size, by value in 2013 while inorganic PCM dominated the market, in terms of volume. Organic PCM are projected to have the higher growth rate than inorganic PCM due to the higher prices and ease of microencapsulation for organic PCM. Bio-based PCM have been estimated to have the highest CAGR of 21.6% between 2014 and 2019.
The report analyzes the advanced PCM market trends and forecasts till 2019. The market size has been provided in terms of market volume (tons) and value ($million). The report also identifies prominent players and provides analysis for each player in terms of company overview, financials, products & services offered recent developments, and company strategy.
The advanced PCM market is projected to register a CAGR of 20.8% between 2014 and 2019 to reach $1,472 million. The HVAC application, that uses advanced PCM, is witnessing a CAGR of 20.7% and constitutes a significant part of the overall advanced PCM market. However, the thermal energy storage application is projected to register a high CAGR of 22.0% by 2019.
The advanced PCM industry is moving towards investments in the implementation of technologies to produce new and high-quality products. The present encapsulation technology has proved to be highly expensive and advancements in the area will benefit the overall advanced PCM market in a major way. The companies involved in this market are extensively engrossed in research and developments of new products for specific applications and conditions. All these factors, along with the growing packaging, construction and alternative energy industry, are projected to continue to drive the demand for advanced PCM.
Companies profiled in this advanced phase change material market (PCM) report include BASF AG, Entropy Solutions Inc., Microtek Laboratories Inc., Pluss Polymers Pvt Ltd., Phase Change Energy Solutions Inc., Rubitherm Technologies, Cryopak Inc., Chevron, Shell, Phase Change Material Products Ltd., Datum Phase Change Ltd., Outlast Technologies, Sonoco Products, Advansa B.V., A.I Technology Inc., Ciat Group, Honeywell Electronic Materials Inc., Laird Plc, Rgees Llc and The Bergquiest Company. Order a copy of this report http://www.reportsnreports.com/Purchase.aspx?name=237733 .
The increasing demand for energy-saving and environment-friendly technology is driving the growth of the global phase change material (PCM) market. The development of new products and market shift towards bio-based phase change material will surge the demand in future. With new and improved products, companies can provide more application specific solutions and hence, increase the demand. Industry participants with the most significant product developments include BASF (Germany), Honeywell (China), Outlast Technologies (U.S.), and Sonoco (U.S.).
Currently, building & construction is the major application of PCM followed by HVAC (heating, ventilation and air-conditioning). Thermal energy storage, and shipping, packaging & transportations also have significant market sizes. These applications are more matured in commercialization cycle as compared to textile and electronics. PCM usage in a particular application and its commercialization depends upon the availability of right grade. This market has vast potential which can be utilized with reduction in cost of PCM as well as macro and micro-encapsulation technique.
Commonly, a company targets to a certain or few applications with limited PCM portfolio. The different types of PCM are organic, inorganic, and bio-based which are made from paraffin, salt hydrates, and plant oil or animal fat respectively. Each type of PCM can have variety of products with different temperature ranges targeting to different applications. Organic PCM offers maximum revenue while bio-based PCM is expected to have highest growth rate during next five years. Reduction in prices will drive the bio-based PCM market.
Most of the key players are located in Europe and North America where the market is consolidated with respect to individual applications. Asia-Pacific stands just next to these two regions where this market has been developing with an increasing awareness.
This report forecasts revenue and volume of the global PCM market and its various submarkets with respect to main regions such as Europe, Americas, Asia-Pacific, and Middle East & Africa. It segments the global PCM market by types, applications, and geography. It also focuses on market dynamics such as drivers, restraints, opportunities, burning issues, and winning imperatives. Major players in the global PCM market have been identified and profiled in the report.
Explore more reports on the advanced materials industry at http://www.reportsnreports.com/market-research/advanced-material/ .
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