BIS Research Study Highlights the Phase Change Materials Market to reach $8.95 billion by 2031
FREMONT, Calif., May 20, 2022 /PRNewswire/ -- The global phase change materials market is projected to reach $8.95 billion in terms of revenue by 2031, at a CAGR of 17.54%, suggests the premium market intelligence study by BIS Research.
Phase change materials (PCM) have been developing significantly since the 1970s, and much can be attributed to the technological advancements in this field.
The ecosystem of the phase change materials market comprises PCM manufacturers, PCM-based product manufacturers, end users, and others. The market is still developing, with Europe at the forefront, followed by North America and other regions.
The phase change materials market is driven by several factors, including the growing popularity of bio-based phase change materials. Phase change materials are a preferred choice these days because of their high heat energy storage capacities, which is expected to positively impact the growth of the overall market.
The detailed study is a compilation of 46 Market Data Tables and 17 Figures spread through 156 Pages and in-depth TOC on "Phase Change Materials Market – Analysis and Forecast, 2020-2031"
USP of the Report
This exclusive report on phase change materials market will help you with:
- A dedicated section focusing on the futuristic trends adopted by the key players operating in the global phase change materials market.
- Extensive competitive benchmarking of top 19 players offering a holistic view of the global phase change materials landscape.
- Qualitative and quantitative analysis of phase change materials industry at country level granularity based on region, application, and type segments.
Analyst's Take on the Market:
According to Shivam Priyadarshi, Principal Analyst, BIS Research, "The phase change materials is expected to be an essential material in the energy conservation. Phase change materials provide an effective solution to manage energy consumption, which favors the utilization of this material in end-use industries. Green transition is increasingly adopted by developed and developing countries, which is expected to create an ample opportunity globally for phase change materials market growth."
View the report on Phase Change Materials Market
Key Companies Operating in the Market and Competitive Landscape
Some key players operating in the market are Henkel AG & Co. KGaA, Honeywell International.Inc., Croda International Plc, PureTemp LLC, Laird Technologies, Inc., Rubitherm Technologies GmbH, PCM Products Ltd, Climator Sweden AB, Cryopak, Shin-Etsu Chemicals Co.,Ltd., PLUSS, Phase Change Products Pty.Ltd, Microtek Laboratories Inc., Shanghai Tempered Entropy New Energy Co., Ltd, Phase Change Solutions, Sasol, Axiotherm GmbH, Hangzhou New Material Technology Co., Ltd. ('RuhrTech'), and Rovilus
The companies that are profiled in the report have been selected based on a selective pool of players, such as tier-1 players, mid-segment players, and small and emerging companies, based on various factors such as product portfolios, annual revenues, market penetrations, research, and development initiatives, along with a domestic and international presence in the phase change materials market.
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Key Questions Answered in the Report:
- What are the major factors and trends that are impacting the adoption/consumption of phase change materials?
- What are some of the key initiatives taken by the existing players to improve their market positioning and strategy adopted by new players entering in phase change materials marketspace?
- With respect to various types of commercially available phase change materials, which are the leading categories, promising applications, and preferred types in the market, and how are these going to evolve in the coming years?
- What are the latest developments in various countries for the development of phase change materials, and what are the consumption patterns?
- How has COVID-19 impacted the phase change materials market across the globe?
- What are the bottlenecks around the adoption of phase change materials across different regions and countries, and what are the government regulations across the globe impacting the phase change materials market?
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About BIS Research:
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Our strategic market analysis emphasizes on market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data, and other important market parameters useful in the strategic decision-making for senior management.
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