Advanced phase change materials market was valued at USD 350.0 million in 2011 and is expected to be USD 1,176.4 million in 2018, growing at a CAGR of 19.5% from 2012 to 2018.
Technological advancements and developments of APCMs have provided an alternative to reduce energy consumption. APCMs have a wide range of applications in industries such as building and construction, energy storage, HVAC and others. The growth of construction segment in China, India and Brazil, coupled with increase need for energy conservation is expected to drive APCM demand over the next five years. In addition, APCMs provide the highest heat storage capacity as compared to any other conventional materials such as wood, water or plastic resulting in increased use in segments such as textile and temperature controlled packaging. However, the hazardous nature of chemicals used as phase change materials is expected to restrain the growth of the market. Lack of government initiative and support towards the development and implementation of PCM is a major challenge faced by the APCMs manufacturers.
Paraffin-based phase change materials were the largest product segment in 2011, accounting for over 50% of the global APCM revenue. The other APCM product segment includes bio based materials expected to show fastest growth as compared to other sectors owing to favorable regulatory scenario and increased R&D initiatives.
Construction industry was the largest application segment for phase change materials market and was valued over USD 95 million in 2011. The increasing need for energy efficient buildings and rapid construction activities in emerging economies is expected to drive the growth APCMs market over the forecast period.
Europe was the largest market for phase change materials followed by North America with each region accounting for over 30% of the revenue in 2011. The increased awareness bout energy conservation and government regulations favoring business which lead to energy saving is expected to drive the market in these regions over the next six years.
The study provides a detailed view of the advanced phase change material market in terms of revenue for a period ranging from 2012 to 2018. The market has been segmented based on product segments, applications and regions. The applications have been further split based on their revenue in various regions. The report segments the APCMs market as:
Advanced Phase Change Materials Market: Product Segment Analysis
Others (Bio- APCM)
Advanced Phase Change Materials Market: Application Analysis
Building and construction
Shipping and transportation
Others (Textiles, Protective clothing)
The report comprises of advanced phase change materials revenue for every application segment in the following regions:
Rest of World
Browse the full report at http://www.transparencymarketresearch.com/phase-change-material-market.html
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