PUBLISHER: 360iResearch | PRODUCT CODE: 1497752
PUBLISHER: 360iResearch | PRODUCT CODE: 1497752
[181 Pages Report] The Advanced Phase Change Materials Market size was estimated at USD 1.76 billion in 2023 and expected to reach USD 1.97 billion in 2024, at a CAGR 13.34% to reach USD 4.23 billion by 2030.
Advanced phase change materials have a high heat of fusion, melting, and solidifying at specific temperatures and are able to store and release large amounts of energy. Their advanced nature typically refers to enhancements enabling higher thermal performance, reliability, and sustainability in managing heat in various systems. The global push towards sustainability and reduction of carbon footprint significantly drives the demand for advanced phase change materials. Moreover, increased demand for energy conservation and efficient thermal management in a variety of industries such as building and construction, HVAC systems, thermal energy storage, electronics, and textiles boosts the adoption of advanced phase change materials. However, some advanced phase change materials have limitations related to thermal conductivity and cycle stability, affecting their performance and applicability. Furthermore, innovations in advanced phase change materials, enhancing their efficiency and integration capabilities, propel the market forward. In addition, pairing advanced phase change materials with renewable energy systems, including solar panels, can enhance efficiency, providing a significant opportunity for market expansion.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 1.76 billion |
Estimated Year [2024] | USD 1.97 billion |
Forecast Year [2030] | USD 4.23 billion |
CAGR (%) | 13.34% |
Regional Insights
The Americas, with the United States and Canada as notable contributors, display a strong demand for APCMs in a diverse range of applications, from HVAC systems in buildings to temperature-controlled packaging solutions. The United States leads in the research, investment, and adoption of APCMs, primarily in construction, textile, and energy storage systems, reflecting a growing consumer preference for sustainable and energy-efficient products. The market is propelled further by governmental initiatives and policies emphasizing energy conservation. Canada shows a similar trend with a focus on sustainable building technologies and renewable energy projects. European countries are leading with stringent regulations on energy efficiency and carbon emissions, prompting widespread adoption of APCMs in construction, automotive, and industrial sectors. Consumer behavior in the EU is highly influenced by environmental awareness and sustainability initiatives. The Middle East shows growing interest in APCMs, particularly in the construction and cooling systems sectors, to address the challenges of extreme temperatures and reduce energy consumption in cooling infrastructures. Africa is in the nascent stage of APCM market development, with a focus on harnessing renewable energy sources and tackling the cold chain logistics problems for medical and food supply chains. The Asia Pacific region has emerged as a rapidly growing market for Advanced Phase Change Materials (APCM), driven primarily by industrial growth and urbanization in countries including China, Japan, and India. Consumer needs in this region are predominantly aligned with energy efficiency and sustainability due to rising environmental concerns and escalating energy costs. China & Japan focus on technological innovations, particularly in the electronics and automotive sectors, utilizing APCMs for thermal management solutions.
Market Insights
The market dynamics represent an ever-changing landscape of the Advanced Phase Change Materials Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Advanced Phase Change Materials Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Advanced Phase Change Materials Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Innovative Temperature-Controlled Packaging Solutions Unveiled for Pharma Logistics
Pluss Advanced Technologies has unveiled two new temperature-controlled packaging solutions, specifically designed to address the critical challenges of maintaining precise temperature regimens during the transportation of temperature-sensitive pharmaceutical products. These innovative solutions, named Celsure and Promolt, are engineered using advanced phase change materials (PCMs), which are known for their ability to regulate temperature effectively. [Published On: 2023-09-18]
A Strategic Leap Towards Carbon Neutrality: DIC Corporation Partners with Phase Change Solutions for Sustainable Infrastructure
DIC Corporation has established a strategic alliance with Phase Change Solutions Inc. (PCS) aiming to introduce advanced thermal management products based on PCS's BioPCM(R)phase change materials in Japan. These products are engineered to address the cooling needs of buildings and other structures efficiently, enabling a significant reduction in CO2 emissions by minimizing the reliance on electric-powered air conditioning systems. The collaboration emphasizes the deployment of these solutions across various infrastructure sectors, including office buildings, industrial complexes, and logistics facilities. [Published On: 2023-05-25]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Advanced Phase Change Materials Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Advanced Phase Change Materials Market, highlighting leading vendors and their innovative profiles. These include 3M Company, Ai Technology, Inc., Beyond Industries (China) Limited, Carborundum Universal Limited, Croda International, Cryopak by Integreon Global, DuPont de Nemours, Inc., Henkel AG & Co. KGaA, Honeywell Electronic Materials, Inc., Insolcorp, LLC, KANEKA CORPORATION, Microtek Laboratories Inc., Outlast Technologies, Outlast Technologies LLC, Parker Hannifin Corporation, Phase Change Energy Solutions, PureTemp LLC, Ru Entropy, Rubitherm Technologies GmbH, Sasol Limited, Shell PLC, Sonoco Products Company, and Teappcm.
Market Segmentation & Coverage