Bio-Based Phase Change Material Fabric Coatings: Key Phase Change Materials Market Trend 2024-2033

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The phase change materials market has experienced robust growth in recent years, expanding from $1.55 billion in 2023 to $1.85 billion in 2024 at a compound annual growth rate (CAGR) of 19.2%. The growth in the historic period can be attributed to energy-efficient building construction, temperature regulation in electronics, thermal management in food preservation, growth in green building standards, energy storage and hvac applications.

What Is the Expected Size of the Global Phase Change Materials Market, and How Fast Will It Grow?
The phase change materials market is projected to continue its strong growth, reaching $3.57 billion in 2028 at a compound annual growth rate (CAGR) of 17.9%. The growth in the forecast period can be attributed to integration into wearable technology, advanced phase change materials for evs, smart textiles and clothing, growth in data centers and cloud computing, expansion of renewable energy storage. Major trends in the forecast period include customized phase change materials for specific applications, biodegradable and sustainable pcms, advanced encapsulation technologies, nanomaterial-enhanced phase change materials, integration with iot and sensor networks.

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What Is Accelerating Growth in the Phase Change Materials Market?
The expansion of the global construction industry is driving the growth of the phase change materials market during the forecast period. Phase change materials are used in various areas of building construction, including roofs, floors, and electrical appliances, to help stabilize internal temperatures by storing latent heat as the material transitions from solid to liquid. The rapid growth of the urban population is expected to boost the demand for new residential and commercial buildings during the forecast period.

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Who Are the Major Players Influencing the Phase Change Materials Market's Growth?
Key players in the market include Honeywell Electronic Materials Inc., Microtek Laboratories Inc., Croda International plc, Sasol Ltd., Henkel AG & Co. KGaA, Climator Mep Pvt Ltd., PCM Products Ltd., Phase Change Energy Solutions, Rubitherm Technologies, Cryopak Industries Inc., Outlast Technologies, DuPont de Nemours Inc., Dow Inc., Badische Anilin und Soda Fabrik, Puret.

What Are the Latest Trends Influencing Phase Change Materials Market Size?
The phase change materials industry is being influenced by the introduction of bio-based phase change material fabric coatings. These bio-based materials are produced using renewable resources like beef tallow or oils from coconut, palm, and soybeans.

How Is The Global Phase Change Materials Market Segmented?
1) By Type: Organic, Inorganic, Bio-based
2) By Encapsulation Technology: Macro, Micro, Molecular
3) By Product: Paraffin, Non-Paraffin, Salt Hydrates, Eutectics
4) By End-User: Building and Construction, Packaging, Textiles, Electronics, Transportation, Other End-Users

Geographical Insights: Europe Leading The Phase Change Materials Market
Europe was the largest region in the phase change materials market in 2023. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What Is The Definition Of The Phase Change Materials Market?
Phase-change materials refer to a class of substances that, while changing from one physical state to another, such as from a solid to a liquid, absorb or release significant amounts of latent heat. Phase change materials are also known as latent heat storage units, commonly used in solar power plants, waste heat recovery systems, preservation of food, pharmaceutical products, and construction.

The Phase Change Materials Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Phase Change Materials Market Report: Trends, Opportunities, Strategies, and More
The Phase Change Materials Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into phase change materials market size, phase change materials market drivers and trends, phase change materials market major players, phase change materials competitors' revenues, phase change materials industry positioning, and phase change materials market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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