Phase change materials are substances through which heat is absorbed or released when the material changes from solid to liquid and vice-versa. These materials store latent heat during the phase transition and are hence called phase change materials or latent heat storage units. The heat transitions are usually arrived through solid-solid, solid-liquid, solid-gas, and liquid-gas phase changes.
The phase change materials market can be classified based on its types such as, inorganic, organic and eutectics. Organic phase change materials basically comprise of paraffin, fatty acids and bio-based which have the ability of undergoing repetitive cycles of phase isolation while inorganic materials do not withdraw heat significantly and they also do not with each cycle of phase shifts. Based on their applications, phase change materials can be segmented as building & construction, energy storage, HVAC, shipping & transportation and commercial refrigeration.
Paraffin based phase change materials are currently the major market share holders in terms of consumption while increasing environmental concerns will see bio-based phase change materials gain the fastest growth in the coming years. Major construction projects in developing economies such as China, India, Brazil and South Africa are stated to boost the demand for phase change materials in the coming years. European regulations for buildings to be energy efficient will aid in maintaining its dominance in this market followed by North America.
Competitive landscape for each type of phase change materials is highlighted and key market players are profiled with attributes of business overview, financials, business strategies, product portfolio and recent developments pertaining to these fluids. Market shares of the key players for 2014 are also provided. The report encompasses the most detailed and in-depth segmentation and analysis of the phase change material market for the period 2015 – 2020.
Most players in the global phase change materials market are based in the U.S. and Germany.
The key market players include:
- BASF SE,
- E. I. Du Pont De Nemours and Company,
- Honeywell International Inc.
- The Dow Chemical Company