(EMAILWIRE.COM, January 15, 2023 ) Maximize Market Research is a leading material and chemical research firm that has delivered a detailed analysis of the “Phase Change Material Market”. The report expects the market to grow from USD 1478 million in 2021 to USD 4779.06 million by 2029 at a CAGR of 15.8% during the forecast period from 2022 to 2029.

Phase Change Material Market Scope and Research Methodology

The study contains important suggestions and high quality insight for investors and market participants and is a complete research of the phase change material business. According to a bottom-up methodology, the study estimated market estimates. Phase Change Material market drivers, constraints, and growth potential are all carefully considered.

The study is a thorough research of the phase change material market and offers crucial recommendations for investors and market participants. To estimate market estimates, the study employed a bottom-up methodology. The market drivers, restraints, and growth potential for Phase Change Material are all carefully examined.

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Phase Change Material Market Dynamics

One of the main factors driving the phase change materials market is the increase in their use for temperature regulation. Room temperature control is made possible in buildings through the use of phase change materials. The phase of the material, which releases and absorbs energy during the process, is changed by variations in daytime and night-time temperatures.

The Codex Alimentarius for pharmaceutical cold chain distribution and the World Health Organization's (WHO) standards for overseas vaccine packaging and delivery. Additionally, the Food and Drug Administration (FDA) creates standards for the production, transport, and storage of food and pharmaceutical items in the United States. It is expected that a rule to be challenging aspect for different players in market.

Phase Change Material Market Regional Insights

Europe is expected to dominate the market at the end of the forecast period, thanks to the most significant market for phase change material in terms of both value and volume in 2021. The growth of the region's total phase change material market is being driven primarily by demand from the building and construction applications, as well as tight government regulations on carbon emissions. Government initiatives to develop green buildings supported market growth since phase change material helps save carbon credits granted to each project

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Phase Change Material Market Segmentation

By Type-

Inorganic and Organic

By Application-

HVAC, Cold Chain & Packaging, Thermal Energy Storage, Electronics, Textile, Building & Construction, Refrigeration & Equipment and Others

Phase Change Material Market Key Competitors include:

Cold Chain Technologies, Inc., Croda International Plc., Microtek Laboratories Inc, Sasol Limited, PureTemp LLC., Henkel AG & Company KGAA, Outlast Technologies LLC., Advansa B.V., AI Technology Inc., Climator Sweden AB, Ciat Group, Honeywell Electronic Materials, Inc., Phase Change Materials Products Ltd., Rubitherm Technologies GmbH, Teappcm, BASF SE, SGL Group, Salca BV, Rubitherm Technologies GmbH, Pluss Advanced Technologies Pvt. Ltd., RGEES, LLC., Outlast Technologies LLC.

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Maximize Market Research is leading Material and Chemical research firm, has also published the following reports:

Glass Fiber Prepreg Market - The market was valued at US$ 2.2 Bn. in 2021. Global Market size is expected to grow at a CAGR of 3.8 % through the forecast period.

Flooring Market - The market was worth US$ 411.92 Bn in 2021 and total revenue is expected to grow at a rate of 6.1% CAGR from 2022 to 2029, reaching almost US$ 661.51 Bn in 2029.

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Maximize Market Research provides B2B and B2C research on 6,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defence and other manufacturing sectors.