Phase Change Materials Market is anticipated to witness massive demand over the forecast timespan
Category: #business  By Partha Ray  Date: 2019-07-18
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Phase Change Materials Market is anticipated to witness massive demand over the forecast timespan

Phase Change Materials Market study put together by Global Market Insights delivers a concise outlook of the powerful trends driving market growth. This report also includes valuable information pertaining to market share, market size, revenue forecasts, regional landscape and SWOT analysis of the industry. The report further elucidates the competitive backdrop of key players in the market as well as their product portfolio and business strategies.

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The rising efforts of regulatory bodies toward curbing greenhouse gas emissions has resulted into significant phase change materials market growth in the recent years. The idea to make use of PCMs for storing thermal energy, according to experts, thrived successfully on account of the materials ability to utilize latent heat of phase change to control temperature within a set range.

PCMs have witnessed extensive demand from the HVAC, chemical, packaging, textiles, and the most prominent building & construction sectors where they are being used for stabilizing temperature and for storing heat. Reports reveal that use of PCMs in these aforementioned applications will lead to reduced use of coolers & heaters, in turn, reducing energy consumption.

Endorsed by such profitable end-use landscape, the phase change materials market is further likely to witness intensive R&D strategies to develop new product alternatives that can prove beneficial in energy conservation. An instance substantiating the same is of Vesl LLC which launched encapsulated PureTemp phase change materials in partnership with a biobased specialty chemical company Entropy Solutions. The product is 100% environment-friendly and operates in wide range of temperatures as well as application spectrum.

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According to the IEA (International Energy Agency) global energy consumption has raised by two folds within the timespan from 1973 to 2012, that recorded energy of approximately 8,500 million tons of oil equivalent. This significant rise in energy consumption parallelly resulted into increase in GHG emission by 7.7% as recorded from 1990 to 2014. Further analyzing, the data stands as a token to the growing necessity for deploying more environment-friendly technologies and gadgets that would possibly reduce harmful emissions and save energy.

Analysts deem this trend to have had a profound impact on the phase change materials market expansion in the recent years. Not only this, the use of PCMs in end-use segments such as the HVAC and building & construction have led the companies to earn over 10 to 20 times of carbon credits as compared to other greener insulating materials – a fact further adding fuel to phase change materials market growth in the years ahead.

Other innovative solutions that are likely to bag lucrative proceeds for the duo comprise BlockVesl, MicroVesl, and MacroVesl. Industry experts speculate that with such high-end solutions being brought forth rapidly in the phase change materials industry, it is rather overt for the business space to tread along profitable roadmap in the coming years.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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About Author

Partha Ray    

Partha Ray

Partha is into digital marketing since the last 3 years and has worked on multiple projects across various industries. An Computer Science engineer by education, he has prior experience in software development. His other interests include playing cricket & Hockey.

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