The growing incidence of the implementation of advanced phase change materials in the construction of lightweight buildings is key factors driving global growth in the industry.

Market Size – USD 1.26 Billion in 2019, Market Growth - CAGR of 21.9%, Market Trends – Growing awareness of environment-friendly and energy-saving technologies.

The Advanced Phase Change Materials market is projected to reach USD 6.18 billion by 2027. Paraffin has a high heat storage capacity and is also stable due to which, over the forecast timeframe, they are expected to experience significant production. However, at a projected CAGR of 21.3% by 2027, bio-based APCM is scheduled to be the fastest-growing product. Increased preference for environmentally friendly materials is expected to drive the bio-based APCM market over the coming years, mainly in North America and Europe.

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Top Leaders Operating in the Market are

Laird Plc,
Honeywell Electronic Materials, Inc.,
Croda International Plc.,
Microtek Laboratories Inc.,
Phase Change Energy Solutions Inc.,
Phase Change Materials Products Ltd.,
Rubitherm Technologies GmbH,
Henkel AG & Company,
KGaA, Cryopak Industries Inc.,
and Cold Chain Technologies, Inc.
among others.
Advanced Phase Change Materials Market Segmentation:

Product Type Outlook (Revenue, USD Billion; 2017-2027)

Salt Hydrates
Paraffin Wax
Others
Application Outlook (Revenue, USD Billion; 2017-2027)

HVAC
Construction
Energy Storage
Commercial Storage
Shipping & Transportation
Textile
Others
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Regional Analysis Covers:

North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Further key findings from the report suggest:

All major players in the industry have invested heavily in Research & development initiatives in recent years, which have led to the development of many innovative products.
Key players plan to expand their product range by strategic mergers and small and medium-sized business acquisitions. Consequently, an intense player rivalry is expected in the following years.
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