Phase Change Material Market Will Expected to Boom at a CAGR of 14% by 2030
Increasing applications of phase change materials in the construction and building sector are major factors driving market revenue growth
Increasing applications of phase change materials in the construction and building sector are major factors driving market revenue growth
NEW YORK CITY, NEW YORK, UNITED STATES, December 16, 2022 /EINPresswire.com/ -- The Phase Change Material (PCM) Market size was USD 526 million in 2021 and is expected to register a revenue CAGR of 14% over the forecast period. Increasing adoption of phase change materials in temperature control logistic and cold chain packaging, growing use of phase change materials for thermal energy storage, and increasing applications of phase change materials in the construction and building sector are major factors driving market revenue growth. PCM is a heat absorbing substance, which absorbs enough energy to generate useful heat or cooling. These factors are significantly driving revenue growth of the market. Access Free sample PDF Copy of the Report URL URL Major companies BASF SE, Microtek Laboratories, Inc., Thermo Fisher Scientific Inc., Medifab Global Group, Integreon, Inc., Pluss Advanced Technologies B.V., Thal Technologies, Sinomax USA Inc., Rubitherm Technologies GmbH, Croda International Plc., and PureTemp LLC. Phase change material is an ideal material for heating, ventilation, and air conditioning application owing to excellent capabilities of temperature transfer. PCM technology is designed to handle entire heat load and it has proper heat absorb mechanism. Many builders and real estate developers are increasingly utilizing PCM for making building and houses more energy efficient and cost-effective. Globally, a large number of real estate developers are investing in phase change material for green residential building construction. According to International Finance Corporation (IFC) U.S., construction of green buildings will generate an estimated USD 24.7 trillion investment opportunities by 2030. These scopes are expected to create a significant revenue growth of the market over the forecast period. Moreover, phase change materials have significant growth opportunities in manufacturing crossbar switch for computer architecture. Many leading semiconductor manufacturing companies, such as TSMC, SK Hynix, Samsung and others, are highly incorporating phase change material photonic processes in semiconductor technology. This technology will be introduced to balance weights on chip utilizing phase change material, which can be monolithically incorporated in silicon photonic technologies. These technological advancements are driving growth of the market. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.Nikhil Morankar
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