The Global Phase Change Material Market is accounted for $686.73 million in 2015 and is expected to reach $2,365 million by 2022 growing at a CAGR of 19.3% during the forecast period. Decrease in operating cost, improved comfort and temperature control nature of phase change materials are the key factors driving the market growth. Lack of government subsidies and high cost of these materials is restraining the market growth.
New and superior products by suppliers, and enhanced macro and micro-encapsulation techniques which eventually reduce the advanced PCM costs will create new opportunities in PCM market. Major Challenge in Phase Change Materials is to increase the awareness for advanced PCM products.
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Some of the key players in the market include Pluss Polymers, DuPont, Phase Change Energy Solutions, BASF, Honeywell Electronic Materials Inc., Entropy Solutions Inc., AI Technology Inc., Rubitherm Technologies, Microtek Laboratories Inc., Cryopak Inc., Advansa B.V, Ciat Group, Emco Klimatechnik Gmbh & Co. KG, Phase Change Energy Solutions Inc and Outlast Technologies LLC.
Thermal Energy Storage
Building & Construction
Products Type Covered:
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