Advanced Phase Change Materials Market Size, Share & Trend Report

Advanced Phase Change Materials Market Size, Share & Trend Analysis Report By Product (Paraffin, Salt Hydrates), By Application (Building & Construction), By Region, And Segment Forecasts, 2014 - 2020

  • Published Date: May, 2014
  • Base Year for Estimate: 2013
  • Report ID: 978-1-68038-021-7
  • Format: Electronic (PDF)
  • Historical Data: 2012
  • Number of Pages: 80

Industry Insights

Global advanced phase change materials market size was estimated at USD 480.0 million in 2013 and is expected to grow at a CAGR of 20.2% over the forecast period. Growing use of phase change materials in lightweight construction on account of its ability to replicate the thermal mass effect is expected to drive the industry growth over the forecast period.

The industry is expected to grow owing to rising application scope in the textile industry on account of temperature balancing properties. In addition, continuous investments by the companies in the technological advancement of micro and macro encapsulation for advanced phase change material are also is expected to drive the industry growth.

U.S. advanced phase change materials market

The U.S. is expected to account for the major share of the advanced phase change materials market, owing to stringent government regulations to reduce greenhouse gas emissions. Rising use of phase change material in the automotive industry is likely to contribute significantly towards the development. In addition, rising product use in the HVAC industry to increase and improve energy savings is expected to drive growth.

Reduced dependence on conventional resources coupled with growing emphasis to reduce greenhouse gas emissions is likely to improve the product demand. Rising demand for energy-efficient green buildings coupled with the growing emphasis on improving the indoor climate and raising the building inertia is expected to augment product demand over the forecast period.

Rising emphasis on stringent implementation of environmental regulations coupled with growing investment to develop environment-friendly bio-based advanced phase change material is expected to augment the industry growth over the forecast period.

Product Insights

Paraffin wax emerged as the leading product segment valued over USD 218.4 million in 2013. Paraffin waxes are widely used in building & construction and HVAC industries on account of their low cost and ease of operation. However, the high flammability property of the product is expected to pose a challenge to market growth.

Salt hydrates segment is expected to grow at an estimated CAGR of over 18.7% from 2016 to 2024. Conventionally, these materials are preferred in applications that require high melting points and enthalpy as they possess a wider operating range varying from 30°C to 600°C. In addition, the non-flammable nature of salt hydrates coupled with superior thermal conductivity makes them widely accepted product segments.

The growing popularity of bio-based phase change materials on account of superior recycling properties without material degradation coupled with higher melting points & better encapsulation is expected to augment product demand over the projected period. Bio-based advanced phase change materials are expected to grow at the fastest rate on account of properties including biodegradability and fire resistance.

Application Insights

Building & construction was the leading application segment accounting for 25.1% of the revenue share in 2013. Increasing usage of advanced phase change material in residential, industrial and commercial infrastructure in combination with heating, ventilation, and air conditioning (HVAC) system is expected to drive the demand for the product over the forecast period.

Stringent regulations in mature economies of Europe and North America to construct energy-efficient green buildings is likely to augment industry growth over the next eight years. Furthermore, the rising construction industry in emerging economies including China, India, and Brazil is expected to propel the industry growth.

Global advanced phase change market

The shipping & transportation segment accounted for over 10.9% of the overall market size in 2013 and is expected to grow at an estimated CAGR of 21.5% from 2014 to 2020. Rising application of advanced phase change materials in the transportation of temperature-sensitive pharmaceuticals, perishable foods, and electronics is expected to fuel the product demand over the forecast period.

Rising use of advanced phase change materials in high-end expensive vehicles to improve the operating efficiency and reduce the carbon emissions, coupled with high growth in automotive production is expected to drive the industry growth over the forecast period.

Regional Insights

Europe was the largest regional market in 2013 owing to rising demand from industries including HVAC, automotive, and construction. Stringent regulations to attain green building certification and improve the energy efficiency of the building is expected to drive the product demand in the region.

Asia Pacific is expected to account for a significant share of the market on account of rapid industrialization. In addition, rising investment in improving the transportation facilities is likely to fuel the product demand in the region particularly in emerging economies including China and India on account of rapid urbanization is likely to fuel the industry growth in the region.

Growing awareness and implementation of energy-efficient technologies and practices is expected to propel the growth in North America over the forecast period. In addition, substantial growth in the building & construction industry in the region, owing to rising demand from the residential sector due to the burgeoning immigration rate is expected to drive the demand.

Global Advanced Phase Change Material Market Share Insights

The industry exhibits high competition owing to the presence of small players in the market. Emerging players in China, followed by the rest of Asia, offering comparatively low-cost material solutions are expected to lead disruptive competition to the established players in North America and Europe.

Key industry participants include Advansa B.V., BASF, CryopakInc, Dupont, Outlast Technologies LLC, Royal Dutch Shell, Rubitherm Technologies GmbH. BASF and DuPont provide paraffin-based PCM for use in building applications. The other key participants in the market include Honeywell and Dow Building Solutions.

Report Scope

Attribute

Details

Base year for estimation

2013

Actual estimates/Historical data

2012

Forecast period

2014 - 2020

Market representation

Revenue in USD Million and CAGR from 2012 to 2020

Region Scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Country scope

U.S., Germany, China, Brazil

Report coverage

Revenue forecast, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at regional and country levels and provides an analysis of the industry trends in each of the sub-segments from 2012 to 2020. For the purpose of this study, Grand View Research has segmented the global advanced phase materials market on the basis of product, application, and region:

  • Product Outlook (Revenue, USD Million; 2012 - 2020)

    • Paraffin Wax

    • Salt Hydrates

    • Others

  • Application Outlook (Revenue, USD Million; 2012 - 2020)

    • Building & Construction

    • Commercial Refrigeration

    • HVAC

    • Energy Storage

    • Shipping & Transportation

    • Others

  • Regional Outlook (Revenue, USD Million; 2012 - 2020)

    • North America

      • The U.S.

    • Europe

      • Germany

    • Asia Pacific

      • China

    • Latin America

      • Brazil

    • Middle East & Africa

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