According to a new market report published by Credence Research Global Advanced Phase Change Material (APCM)Market- Growth, Future Prospects & Competitive Analysis, 2017 - 2025, the Global Advanced Phase Change Material (APCM)Market is expected to reach US$ 832.6 Mn by 2025, expanding at a CAGR of 14.8% during the forecast period 2017- 2025.
Browse the fullGlobal Advanced Phase Change Material (APCM)Market byProduct Type, Applicationand Geography- Growth, Future Prospects & Competitive Analysis, 2017 – 2025report at http://www.credenceresearch.com/report/advanced-phase-change-material-apcm-market
Market Insights
Growing environmental concerns and increasing awareness towards energy conservation is expected to propel the demand for advanced phase change materials. Increasing government initiative to reduce greenhouse gases emission and increasing awareness towards energy conservation is projected to fuel the demand for advanced phase change materials. Further, rising demand for insulting materials in various end use industries such as refrigeration & equipment, packaging, textiles and others are also projected to augment the growth of advanced phase change materials.Growing international trade of perishable products among various nations across the globe driving the use advanced phase materials. Besides this, the advanced phase material are also used in textiles. Thus, growing array of application of advanced phase change materials is anticipated to drive the market growth of advanced phase change material (APCM) over the forecast period. Stringent regulations over greenhouse gases emission andincreasing awareness towards energy conservation in Europe and North America is projected to augment the demand for advanced phase change materials (APCM). Moreover, increasing urbanization and rapid infrastructuraldevelopment along with increasing industrialization in the Asia Pacific is expected to upsurge the demand for advanced phase change materials over the forecast period (2017-2025). However, lack of awareness and corrosive properties of advanced phase change material are the factors anticipated to discourage the use of advance phase change material which is turn is projected to hamper the growth of global advanced phase change materials over the forecast period (2017-2025).
Competitive Insights:
Global advanced phase change material (APCM)marketis segmented on the basis of product type,applicationand geography.By product type, inorganicsegment was the most dominant segment in global advanced phase change material (APCM)market in 2016 and anticipated to continue its dominance over the forecast period. Inorganic advanced phase change material (APCM) is widely used in various end use industries such as thermal energy storage (TES), refrigeration & equipment, cold chain & packaging and HVAC.Based on application, in 2016, building & construction segmentwas observed to be the largest application segmentin global advanced phase change material (APCM) market. Rising concerns over building energy efficiency due to increasing awareness over the emission of greenhouse gases promoting adoption of advanced phase change material (APCM).On the basis of geography,Europe is estimated to hold largest share in global advanced phase change material (APCM) market and projected to maintain its dominance over the forecast period. Rising cost of energy and inclination towards the energy efficiency in the region is projected to fuel the demand for the advanced phase change material (APCM) in the region.Major players in global advanced phase change material (APCM)market are investing in research and development, merger and acquisitionwith focus onimprove their product portfolio and market penetration. Largely, global advanced phase change material (APCM)market is anticipated to register robust growth over the forecast period (2017-2025).
Key Trends:
- Merger & Acquisition
- Investment in R&D
- New Product Development
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