According to a new report, published by KBV research, The Global Advanced Phase Change Materials Market size is expected to reach $2.8 billion by 2028, rising at a market growth of 10.9% CAGR during the forecast period.
The Building & Construction market dominated the Global Advanced Phase Change Materials Market by Application in 2021; thereby, achieving a market value of $853.2 million by 2028. In the building sector, advanced phase change materials play a critical role in reducing energy consumption and assuring a clean and green future. Furthermore, the increased emphasis on green construction and the increased focus on energy conservation has increased demands for higher efficient and innovative construction materials.
The Bio-based PCM segment is showcasing CAGR of 12.5% during (2022 - 2028). Bio-based advanced phase change material, such as fatty acid esters and fatty acids, provide a green solution. Bio-based advanced PCMs are materials obtained from renewable and environmentally friendly resources, such as palm oil, palm kernel oil, soya bean oil, and coconut oil, along with the by-products from the agro-food sector.
The Asia Pacific segment dominated the Global Advanced Phase Change Materials Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.04 billion by 2028. The Europe market is poised to grow at a CAGR of 10.4% during (2022 - 2028). Additionally, The North America market would showcase a CAGR of 10.2% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/advanced-phase-change-materials-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of PLUSS Advanced Technologies, BASF SE, Entropy Solutions, Outlast Technologies GmbH, DuPont de Nemours, Inc., Sonoco Products Company, Phase Change Solutions, Cryopak, Microtek Laboratories, Inc., and ADVANSA Marketing GmbH.
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