They are available in amorphous and crystalline forms. The major products of APCM include salt hydrates, paraffin wax and fatty acids. Decreased availability of conventional resources which are related with the requirement of energy efficiency is expected to drive the advanced phase change materials market over the forecast period. APCM has unique structure which is used to release the stored energy and stores energy. During the process of conversion the structure can be converted from
liquid to solid or solid to liquid depending upon the specification and the material is used. Increasing demand of energy conservation is expected to fuel advanced phase change materials market demand over the forecast period.
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Phase change materials are widely used in applications such as refrigeration, construction and building, HVAC, energy storage and others. Growing construction sector in developing countries such as Brazil, India, Russia, South Africa and China is further anticipated to provide avenues to the market growth over the next five years. Advanced phase change materials is expected to gradually replace the traditional conventional materials which does not have high storage capacity. Stringent government regulations regarding energy savings in buildings of Europe is expected to provide new opportunities to market growth over the forecast period.
Product Insight
The major products of APCM include salt hydrates, paraffin wax and fatty acids. Paraffin wax is used in building & construction and HVAC systems due to their ease of operation and low cost. Salt hydrates are used in high melting points which have a tendency to split it into hydrates and salt. They are used to store energy in the form of latent and sensible heat. Bio based fatty acids used to absorb and release energy which solidifies and melt at room temperature. When this material is
installed in wall panels and ceiling panels, the products works night and day to stabilize room temperature.
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Application Insights
Applications include refrigeration, construction and building, HVAC, energy storage and others. Advanced phase change materials are used in building and construction because of its ability to release and absorb energy at different temperatures. They are used in maintaining and controlling the temperature in the building. Increasing energy savings in buildings and environmental saving are expected to drive the market. APAC is used in HVAC for saving energy in commercial building which is expected to provide positive avenues to market demand over the forecast period. The other major applications include transportation, energy storage, commercial refrigeration, cold storage and others.
Regional Insights
Europe is expected to be the dominant market over the forecast period owing to decrease in green house gases and growth in energy efficiency. North America was the second major market because of more commercial buildings uses HVAC application for energy saving. Asia Pacific is expected to be the fastest growing market owing to increasing awareness regarding applications of advanced phase change materials.
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Increasing awareness of phase change materials, growth in infrastructure, and favorable government rules and regulations are the key factors expected to drive the advanced phase change materials market in India over the forecast period.
Competitive Insights
Key industry participants include Advansa, APCM Competitive Landscape, Cryopak, Outlast Technolgies, BASF, Honeywell, DuPont, PCM Energy Ltd, Climator Sweden AB and others. Market participants enter into mergers & acquisitions to sustain in the market. DuPont and BASF provide paraffin based PCM which is used in buildings for energy saving.
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