According to a new market report published by Credence Research Global Advanced Phase Change Material (APCM) Market– Growth, Future Prospects & Competitive Analysis, 2017 – 2025, the Global Advanced Phase Change Material (APCM) Market is expected to reach US$ 832.6 Mn by 2025, expanding at a CAGR of 14.8% during the forecast period 2017- 2025.
[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]
Growing environmental concerns and increasing awareness of energy conservation are expected to fuel demand for advanced phase-change materials. Increased government initiative to reduce greenhouse gas emissions and increase awareness of energy conservation is projected to fuel demand for advanced phase-change materials. In addition, increasing demand for insulting materials in various end-use industries, such as refrigeration & equipment, packaging, textiles and others, is also projected to increase the growth of advanced phase change materials.
Growing international trade in perishable items across the globe, pushing the use of advanced phase materials. For addition, advanced phase materials are also used in textiles. As a result, the increasing range of application of advanced phase change materials is expected to drive the market growth of advanced phase change material (APCM) over the forecast period. Strong greenhouse gas emission regulations and increased awareness of energy conservation in Europe and North America are projected to increase demand for advanced phase-change materials (APCMs).
In addition, increasing urbanization and rapid infrastructural development, along with increasing industrialization in Asia-Pacific, are expected to increase demand for advanced phase change materials over the forecast period (2017-2025). However, lack of awareness and corrosive properties of advanced phase change material are expected to discourage the use of advanced phase change material, which is expected to hinder the growth of global advanced phase change materials over the forecast period (2017-2025).
The global market for advanced phase change material (APCM) is segmented by product type, application and geography. By product type, the inorganic segment was the most dominant segment of the global advanced phase change material (APCM) market in 2016 and is expected to remain dominant over the forecast period. Inorganic advanced phase change material (APCM) is widely used in various end-use industries such as thermal energy storage (TES), refrigeration & equipment, cold chain & packaging and HVAC. Based on the application, the Building & Construction segment was identified as the largest application segment in the Global Advanced Phase Change Material (APCM) market in 2016.
Rising concerns about energy efficiency building due to increased awareness of greenhouse gas emissions to support the adoption of advanced phase-change material (APCM). Based on geography, Europe is estimated to hold the largest market share in the Global Advanced Phase Change Materials (APCM) market and is projected to retain its dominance over the forecast period. Rising energy costs and an inclination towards energy efficiency in the region are projected to fuel demand for advanced phase change material (APCM) in the region.
Major players in global advanced phase change material (APCM) market are investing in research and development, merger and acquisitionwith focus onimprove their product portfolio and market penetration. Largely, global advanced phase change material (APCM) market is anticipated to register robust growth over the forecast period (2017-2025).
- Merger & Acquisition
- Investment in R&D
- New Product Development