Transparency Market Research, in its latest research report states, the advanced phase change materials (APCM) market will grow significantly in the coming years. The global advanced phase change materials market was valued at USD 350.0 million in 2011 and is expected to be USD 1,176.4 million in 2018, growing at a CAGR of 19.5% from 2012 to 2018. The report "Advanced Phase Change Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018" is available for sale on the company's website.
Advanced phase change materials market has witnessed a positive growth in the past few years due to their remarkable contribution in the various sectors. The technological advancements and developments of APCMs have given a new array of methods to reduce energy consumption. Since, advanced phase change materials have huge range applications in segments such as construction and building, HVAC, and energy storage, the APCMs market has truly witnessed stupendous rise. As Brazil, India, and China are witnessing a great growth in the construction segment, it is expected to drive the advanced phase change materials market on the path of massive success. APCMs also provide heat storage capacity when compared to other types of materials such as plastic, water, or wood. This precise property of advanced phase change materials has opened a whole new area for growth in textile and temperature controlled packaging industry.
Advanced phase change materials market is segmented on the basis of products, applications, and geography. In terms of products and applications, the construction industry is the largest consumer of advanced phase change materials. With a pressing need for energy efficient buildings and rising construction activities in developing nations, the demand for APCMs is expected to rise further in the forecasted period. Another application segment making its mark on the advanced phase change materials market is shipping and transportation. In the forecasted period, this segment is expected to the second-fastest area of application of advanced phase change materials. By 2018, shipping and transportation is likely to tantamount to 10% of market share of advanced phase change materials.
Geographically speaking, Europe holds the biggest share in the advanced phase change materials market and this region is also expected to witness the fastest growth in the APCM market. The Asia Pacific region is expected to indicate the second-fastest growth in the forecasted period accounting to more than 25% of the market share in 2018. The report profiles some of the key players such as BASF, E. I. du Pont de Nemours, Advansa BV, and Dow Chemical Company in the APCM market to understanding the shape this industry is likely to take.
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