Browse 229 market data Tables and 56 Figures spread through 219 Pages and in-depth TOC on "Phase Change Material Market"

The phase change material (PCM) market is projected to reach USD 889 million by 2025, at a CAGR of 16.0% from USD 423 million in 2020. PCMS are the materials that have the ability to store and release a large amount of heat/energy while maintaining a constant temperature. Unlike other insulation materials, on reaching a melting point (the temperature at which it changes phase from solid to liquid), PCM absorbs a large amount of heat and releases its stored latent heat while solidifying. It has tremendous potential to meet the increasing need for energy in cooling and heating applications across various industries, including construction, fixed refrigeration, textiles, packaging, electronics, etc.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1087

Global warming and changing climate patterns are major environmental concerns. The European Union (EU) plans to reduce greenhouse gas emissions by 20% by 2020 and by 40% by 2030, with new environment-friendly technologies being required to achieve this objective. The use of advanced PCM is expected to reduce the demand for coolers and heaters, and subsequently lower the demand for electricity. Through incorporating advanced phase change material in applications such as building and HVAC, companies now have the potential to earn 10–20 times more carbon credits than available through using other green insulating materials.

Strict regulations are implemented for controlling emissions that are increasingly affecting the atmosphere. The Kyoto Protocol to the United Nations Framework Convention on Climate Change (UNFCCC) was adopted by 191 countries (all UN members, except Andorra, Canada, South Sudan, and the US) in 1997, and was enforced in 2005. This protocol categorizes the countries and binds them with carbon emission targets. The US included its initiatives to reduce greenhouse gas emissions through its Fourth US Climate Action Report (USCAR) to the UNFCCC.

Regulations for carbon emission reductions such as the CRC Energy Efficiency Scheme in the UK have made it mandatory for non-energy-intensive organizations in the public and private sectors to reduce carbon emissions. There is an increasing demand for advanced PCM in buildings that reduces the required compressor load for heating and cooling buildings by maintaining required room temperatures, thus decreasing carbon emissions. Regulations are being imposed on the transport of pharmaceuticals and other biological goods based on temperature requirement during transport, with goods and transport needing to comply with the labeled storage requirements for each product.

The impact of this driver is medium at present, as only a few countries have imposed strict norms for the reduction of the carbon footprint. However, in future, the impact is expected to be high as most countries are expected to reduce carbon emissions due to increasing environmental concerns.

Europe to account for the largest share of the global PCM market during the forecast period

Europe is expected to account for the largest market share in PCM during the forecast period, in terms of value and volume. This is owing to the increasing demand for PCM in applications such as cold chain & packaging and building & construction in the region. Moreover, the presence of stringent regulations regarding the reduction of greenhouse gas emission (GHG) is another factor leading to its growth.

Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1087

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/advanced-phase-change-material-pcm-market-1087.html