Advanced Phase Change Materials Market to Record Impressive Growth at 19.5% CAGR by 2018: Transparency Market Research
By Business Wire News
The market for advanced phase change materials has witnessed significant demand from the construction and textile industries, which has driven the growth of the global market in recent years, states Transparency Market Research in its latest report.
The report, titled “Advanced Phase Change Materials Market (Paraffin, Salt Hydrates, Others) for Commercial Refrigeration, HVAC, Energy, Shipping, Building, Construction and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018”, states that global advanced phase change materials market stands to grow from US$350 million in 2011 to US$1,176.4 million by 2018, registering a 19.5% CAGR from 2012 to 2018.
On the basis of product, the advanced phase change materials market is broken down into salt hydrates, paraffin, and others such as bio-advanced phase change materials. Paraffin-based advanced phase change materials dominated the overall demand in 2011, accounting for share of more than 50%.
Advanced phase change materials find application in commercial refrigeration, building and construction, HVAC, shipping and transportation, energy storage, and others including textiles and protective clothing. The use of advanced phase change materials in the building and construction industry held the majority of the market, accounting for a 24% share in 2011. The rise in construction activities in countries such as India, China, and the U.S. has driven the demand for advanced phase change materials. The ongoing growth of the industry in RoW countries will aid the market significantly.
The key vendors profiled and analyzed in the advanced phase change materials market research report are BASF, Rubitherm Technologies GmbH, Honeywell International, E.I. du Pont de Nemours & Company, Salca BV, Advansa B.V., Phase Change Products Pty Ltd (PCP), Climator Sweden AB, Dow Building Solutions, and Cryopak.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.
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