Fast Market Research recommends "Advanced Phase Change Material (PCM) Market By Type (Inorganic, Organic & Bio-Based) & Application (Building & Construction, Cold Storage, HVAC, Textile, Thermal Energy Storage, Electronics) - Global Trends & Forecast To 2018" from Markets and Markets, now available
Boston, MA -- (SBWIRE) -- 06/10/2013 -- Energy saving, environment friendliness, and wide range of applications are the main growth driver for PCM market. It offers applications across building & construction, HVAC, textile, fixed refrigeration, cold chain, thermal energy storage, electronics, and more. Building & construction has the largest PCM market followed by HVAC.
The global PCM market is estimated to grow from $460 million in 2013 to $1,150 million by 2018, at a compound annual growth rate (CAGR) of 20.1% for the same period. Reducing price of PCM and R&D for novel materials will create new opportunities and will drive the market in future.
The organic type of PCM has the maximum market in terms of value due to its high cost while inorganic has the concentrated consumption in terms of volume. Traditionally, inorganic PCM had been used resulting in high volume consumption. Later, usage of organic based PCM with higher melting points, efficiency and microencapsulation led to its widespread usage in various applications. The development of bio-based PCM derived from plant or animal base contributes added advantage of lower flammability and high biodegradability over the organic.
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Highest growth is observed in Europe where most of the companies have been already established. North America is another market where number of major players exists. Growing PCM applications, high cost of energy, and regulations imposed by the government are attracting the companies. Europe will remain largest market in terms of both volume and value by 2018.
This report studies and forecasts the PCM market till 2018. It identifies the factors which are currently driving its demand and also focuses on market restraints. For this report, developments by 26 players were studied to identify current market trends and strategies followed by top manufacturers. The market is segmented and forecasted for major all major regions. Market estimations have been provided in terms of market revenue ($) and consumption volume (metric ton). In terms of revenue, global as well as regional markets have been segmented by applications such as building and construction, fixed refrigeration, HVAC etc. This report also analyzes various types of PCM and their split in the above regions in terms of revenue and volume consumption.
Various secondary sources such as Fraunhofer-Institut fur Solare Energiesysteme ISE, RAL, U.S. Department of Energy, Oak ridge national laboratory, Factiva, company annual reports and presentations, company press releases have been referred to identify and collect information useful for this extensive commercial study. The primary sources - experts from related industries and suppliers - have been interviewed to obtain and verify critical information as well as to assess the future prospects and market estimations.
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