The Global Advanced Phase Change Material (PCM) Market report 2018 covers deep dive segmentation in every aspect by type, application, application, end-user and region. Smart home is a smart system that anticipates and responds with intuitive and at times automated control of some or all of the amenities in a home that include TV, lighting, music, safety & security, climate, energy & water, and more. The smart home technology has grown tremendously since 2010 and transitioned from wired technology to wireless technology with emergence of wireless technologies, such as Bluetooth, Wi-Fi, and mobile Internet. The Internet of Things (IoT) has enabled the rapid growth of Advanced Phase Change Material (PCM), connecting physical devices with internet connectivity and sensors providing new services to households. The trend of smart home is shifting towards the centralized control. For example, Amazon Echo and Google Home are heading in the direction of centralized smart home control.
The Global Advanced Phase Change Material (PCM) Market Covers Pin-point Analysis on Growth, Industry Size, statistics, Future Development Strategies and Business Opportunities The Global Advanced Phase Change Material (PCM) Market report covers an exhaustive understanding of the Advanced Phase Change Material (PCM) Industry that encompasses various important factors like the product type, sales, revenue, competition market size, regions, and applications. The report further provides a thorough understanding of the Advanced Phase Change Material (PCM) Market through value chain analysis and SWOT, which helps the consumer/user/ reader to understand expected trends in the Advanced Phase Change Material (PCM) Industry, demand-supply situation in the market, its weaknesses, strengths and various opportunities the market can offer. Statistics and data have been included in the Advanced Phase Change Material (PCM) Market to support the information in the report through charts and tables for enhanced readability and to present more engaging content.
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The total advanced PCMs market is valued at USD 900 million as on 2017 and is likely to reach USD 2,192 million by the end of 2023, growing at a CAGR of 16%. Growing concerns towards energy saving processes, sustainable development, increasing demand of biodegradable materials, and advancement in packaging science is driving the market for advanced PCMs globally. However, presence of harmful chemicals in PCMs and lack of government inventiveness and encouragement for the use of PCM products is to remain a major challenge for the advanced PCMs industry in near future.
In 2018, Europe accounts for the largest market share in advanced PCMs market followed by North America and Asia-Pacific. Growing construction activities in developing nations such as China, India, and Brazil is the main driver for the demand of PCM products. The governments in these nations is in a process of adopting environment-friendly legislation, which will further drive the demand of these products in these regions Also, continuous efforts of developed nations such as the US, EU-27, and Japan to save energy by optimizing the use of fossil fuels is further driving the use of PCM products in various applications.
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PCMs are broadly segmented into inorganic PCMs, organic PCMs, and bio-based PCMs. Organic PCMs are further classified as paraffin and non-paraffin materials, whereas inorganic phase changed materials segmented into salt hydrate and metallic. Bio-based advanced PCMs are mostly derived from plant oil or animal fat and poses higher biodegradability. Organic PCMs holds the largest market share in terms of value due to their high price. However, inorganic PCMs have the high consumption in terms of volume. Growing environment concerns and stiff regulation towards biodegradability, is expected to drive the demand of bio-based PCMs in coming years.
In 2017, building and construction is the largest application of PCMs due to their high use in building and construction activities especially in cooling buildings which in turn has arisen due to the shift from heavy thermal mass design to lightweight architecture. However, textile application is expected to have the highest CAGR of 25% from 2017 to 2023.
Market Players in PCM market adopt commonly adopting marketing strategies to position their products, which includes advertising PCM products as being cost and energy efficient and environmentally friendly products. Some of the key strategies and expansion plans adopted by top market players include joint ventures, investments, acquisitions, and collaboration with universities and research institutes to develop new products. Some of the major market players active in the industry include Outlast Technologies, CSafe Global, Dow Chemicals, DuPont BASF, Henkel, and Entropy Solutions.
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Table of Contents
Introduction
Executive Summary
Advanced Phase Change Material (PCM)s, By Type
Factors influencing the demand of Advanced Phase Change Material (PCM)s
North America market analysis
Western Europe market analysis
Asia Pacific market analysis and more………
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