(EnergyIndustry.Net, April 14, 2020 ) Advancedphasechange Material Market Overview The Global Advanced Phase Change Material Market is expected to grow at a CAGR of 18.10% in the forecast period of 2019-2026. Advanced phase change material (APCM) is a substance with high heat fusion which, melt and solidify at a specific temperature, it is capable of storing and releasing a large amount of energy. Heat is absorbed and released when material changes from solid to liquid or vice versa. An ideal PCM have high heat fusion, high thermal conductivity, high specific heat and density, long term reliability during repeated cycling, and dependable freezing behavior. Advanced phase change material market is expected to grow at a CAGR of XX% to reach a market value of XXXX million by 2025. The temperature ranges offered by advance phase-change materials technology are medium and high-temperature energy storage applications for the building services and refrigeration engineers. The scope of this thermal energy application is wide-ranging of solar heating, hot water, heating rejection, i.e., cooling tower and dry cooler circuitry thermal energy storage applications. Advanced phase change materials perform best in small containers. Therefore they are usually divided into cells. The packaging material conducts heat well, and it is durable enough to withstand frequent changes in the storage materials volume as phase changes occur. The commonly used PCMs are salt hydrates, fatty acids and esters, and paraffin such as octadecane. Ionic liquids were investigated as original PCM in recent developments. Paraffin waxes are the most common PCM for electronics thermal management because they have a high heat of fusion per unit weight, large melting point selection, provide dependable cycling, non-corrosive and are chemically inert.
Market Drivers and Restraints The increase in total energy supply from thermal and solar resources and growth of advanced phase change material in the construction industry for developed and developing countries is the primary driver for the growth of global advanced phase change material market. The advanced phase-change materials have a superior heat storage capacity that is driving the growth of the market. The increasing use of these advance phase change material in the textile industry and temperature controlled packaging are also driving the growth of the global advance phase change material market. The high cost and hazardous nature of few advance phase changing materials are the significant restraints for the global advance phase change material market. Lack of awareness and corrosion & flammability issues would be a considerable restraint for global advance phase change material market.
Segmentation Analysis The advanced phase change material market is segmented by product types such as paraffin waxes, salt hydrates, inorganic eutectics, hygroscopic material, and others. Paraffin waxes account for the significant market within advance phase change material as it shows functional properties for temperature change and it is a Bio-Based APCM. Paraffin waxes freeze without much undercooling; it can melt congruently and also it is safe and non-reactive. The advanced phase change material market is segmented by application types such as thermal energy storage, solar power plant, building and construction, shipping and transport, heating ventilation and air conditioning, and others. Building and constructions segment has a significant market for advanced phase change materials due to increasing concerns for safety at the time of fire accidents or a potential explosion. Key market segments covered BY PRODUCT TYPE Paraffin waxes Salt hydrates Inorganic eutectics Hygroscopic material Others BY APPLICATION TYPE Thermal energy storage Solar power plant Building and construction Shipping and transport Heating, ventilation and air conditioning (HVAC) Others BY REGION Asia Pacific Europe North America South America Rest of the World
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