The global market for advanced
phase change material is expected to reach USD 1,765.8 million by 2020,
according to a new study by Grand View Research, Inc. Growing need to conserve
energy across various industries and sector is expected to be one of the major
driving factors for the market. In addition, stringent regulations imposed on
various industries to reduce greenhouse gases emission has also helped in
developing the market for advanced phase change material. Consumption of APCM
is expected to reduce the overall demand for energy by up to 50% by 2050.
However, their high price compared to other insulating materials owing to lack
of awareness among the consumers in under developed countries is expected to
hinder market growth over the forecast period.
Paraffin APCM material emerged as
the leading product and accounted for over half of total market revenue in
2012. Paraffin has high heat storing capacity and are also stable in nature
owing to which they are expected to witness significant growth over the
forecast period. However, bio-based APCM is expected to be the fastest growing
product at an estimated CAGR of 22.5% from 2014 to 2020. Increased preference
towards environmental friendly materials mainly in North America and Europe is
expected to drive the market for bio-based APCM over the next six years.
Browse full research report on Advanced Phase Change
Materials Market: http://www.grandviewresearch.com/industry-analysis/advanced-phase-change-material-apcm-industry
Further key findings from the
study suggest:
- Building and construction emerged as the leading
application market for APCM and accounted for 25% of total revenue in
2013. Growth of construction industry, mainly in China, India and Brazil
is expected to drive the overall market for APCM in this industry.
Building and construction along with being the largest market is also
expected to be the fastest growing application market for APCM, at an
estimated CAGR of 22.7% over the next six years.
- Application of APCM in energy storage is also
expected to gain significant market over the next six years, with global
revenue expected to exceed USD 250 million by 2020 at an estimated CAGR of
21.3% from 2014 to 2020.
- Europe was the largest regional market for APCM and
accounted for just over one third of global revenue in 2013. Growing need
to conserve energy coupled with stringent regulations to reduce/minimize
emission of harmful gases has contributed to the growth of this market.
Along with being the largest market, Europe is also expected to be the
fastest growing market for APCM, at an estimated CAGR of 21.4% from 2014
to 2020.
- Some of the major companies operating in the global
market for advanced phase change material include Advansa B.V., BASF, Cyropak,
Climator Sweden AB, Dow Building Solution, E.I. du Pont de Nemours &
Company, Honeywell International, Phase Change Products Pty Ltd.,
Rubitherm Technologies GmbH and Salca BV.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
For the purpose of this study, Grand View Research has
segmented the global advanced phase change material market on the basis of
product, application and region:
• Advanced Phase Change Material
Product Outlook, (Revenue, USD Million, 2012 - 2020)
• Paraffin PCM
• Salt Hydrate PCM
• Other PCM
• Advanced Phase Change Material Application Outlook, (Revenue, USD Million, 2012 - 2020)
• HVAC
• Energy Storage
• Building & Construction
• Refrigeration
• Shipping & Transportation
• Other
• Advanced Phase Change Material Regional Outlook, (Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• Rest of the World
• Paraffin PCM
• Salt Hydrate PCM
• Other PCM
• Advanced Phase Change Material Application Outlook, (Revenue, USD Million, 2012 - 2020)
• HVAC
• Energy Storage
• Building & Construction
• Refrigeration
• Shipping & Transportation
• Other
• Advanced Phase Change Material Regional Outlook, (Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• Rest of the World
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
No comments:
Post a Comment