European Phase Change Materials to See 20.9% Annual Growth Through 2023

December 06, 2018

WELLESLEY, Mass., Dec 6, 2018 –The popularity of green buildings and the push for energy saving materials will help boost expansion of the phase change materials (PCM) market in Europe, according to a report by BCC Research.

The industry expects to see a compound annual growth rate (CAGR) of 20.9% through 2023, when it is expected to reach nearly $1.1 billion, according to the report “Phase Change Materials: Technologies and European Markets.”

Major players in the market include Outlast Technologies, Croda International (COIHF), Henkel (HENOY), CSafe Global, Micron (MU), Laird Technologies, and Aavid Kunze, among others.

Research Highlights

Inorganic PCMs include salt hydrates and metallics. Salt hydrates have the second largest market share of all PCMs.
PCMs have high thermal inertia, and this quality is used for protection against extreme hot and cold temperatures in several applications, including air conditioning, buildings, cold storage, pharmaceuticals and textiles. In 2017, building and construction held the largest share in the market.
Germany is the biggest market for PCMs in Europe. PCMs are being increasingly used in Germany’s construction industry, as the country is focusing on energy-efficient buildings. During the forecast period, recovery of the building and construction industry is likely to increase, leading to increased demand for PCMs.

“Europe is the largest market for PCM products worldwide,” the report notes. “Increased awareness regarding the benefits of PCM products, strict government regulations associated with energy efficiency and the reduction of greenhouse gases are several factors contributing to market growth in the European region. In addition, the extreme climatic conditions in North Europe make PCM an ideal option for use in building and HVAC application.”

Market Restraints Include High Costs, Problematic Characteristics

Although generally positive, the report notes several factors limiting market growth. Of these, the chief factor is the cost of phase change materials, which is as high as $5 per kg; this is resulting in higher final costs for applications. Certain PCMs, however, are flammable and can corrode, overheat and expand –all of which are factors making them less appealing to buyers.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Phase Change Materials: Technologies and European Markets( AVM190A )
Publish Date: Nov 2018

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