Phase Change Materials Market Trends Show Bio-Based Segment
LONDON, Sep 21, 2021 (GLOBE NEWSWIRE) – According to The Business Research Company’s Phase Change Materials Market research report, the introduction of bio-based phase change textile coatings is shaping the shift materials market phase. Bio-based phase change materials are made from bio-based products such as beef tallow or coconut, palm and soybean oils.
For example, in January 2019, a US-based specialty chemicals company PureTemp LLC developed a bio-based fabric coating that serves as an effective temperature buffer. A bio-based fabric coating is a coating of engineered phase change material that is applied to the surface of the fabric to control temperature changes in consumer products such as clothing, footwear, and work wear.
The main types of phase change materials are organic, inorganic and bio-based. Organic phase change materials are a type of phase change materials that can absorb and release latent heat during the phase change process at certain temperatures. The different types of products include paraffin, non-paraffin, salt hydrates, eutectics and use various encapsulation technologies such as macro, micro and molecular. These are implemented in several end use industries such as building and construction, packaging, textiles, electronics, transportation and others.
The global phase change materials market size is expected to increase from $ 0.94 billion in 2020 To $ 1.04 billion in 2021 at a compound annual growth rate (CAGR) of 11.4%. The growth in the phase change market is primarily driven by companies resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, remote working, and shutting down business activities which resulted in operational challenges. The Phase Change market size is expected to reach $ 2.16 billion in 2025 To 19.9% CAGR.
The Business Research Company report titled Phase Change Materials Global Market Report 2021 – By Type (Organic, Inorganic, Bio-based), By Encapsulation Technology (Macro, Micro, Molecular), By Product (Paraffin, Non-Paraffin, Hydrates salt, eutectics), by end-user (building and construction, packaging, textiles, electronics, transportation), COVID-19 Growth And Change covers major phase change materials companies, phase change materials market share by company, phase change materials manufacturers, phase change materials market forecast of phase and size change materials market. The report also covers the global phase change materials market and its segments.
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Europe was the larger region in the Phase Change Materials Market in 2020. The regions covered by the Phase Change Materials Market report are Asia Pacific, Western Europe, Eastern Europe, North America , South America, the Middle East and Africa.
In July 2021, Dupont, a US-based chemical company, acquired Laird performance materials from Advent International for an undisclosed amount. The addition of Laird Performance Materials significantly strengthens DuPont’s Electronics & Industrial (E&I) segment and represents another important step in its strategy to grow as a global leader in innovation and a leading multi-industry company. Laird Performance Materials is a China-based company that offers phase change materials.
The main players in the phase change materials industry are Honeywell Electronic Materials Inc, Microtek Laboratories, Croda International, Sasol, Henkel, Climator, PCM Products, Phase Change Energy Solutions, Rubitherm Technologies, Cryopak, Outlast Technologies, Dupont, Dow Chemical Company, BASF, Puretemp, Pluss Advanced Technologies and Cold Chain Technologies.
Phase Change Materials Global Market Report 2021 – COVID-19 Growth And Change is part of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the entire market, segments and geographies, trends, drivers, restraints, revenues, profiles and market shares of major competitors in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are backed by 150,000 datasets, in-depth secondary research, and proprietary information from interviews with industry leaders. A team of highly experienced and expert analysts and modelers provide market analysis and forecast. The reports identify major countries and segments for opportunities and strategies based on market trends and approaches of major competitors.
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