The Global Market for Phase Change Materials

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Published March 2022 | 95 pages, 25 tables, 22 figures | Download table of contents

Phase Change Materials (PCMs) are wax-like thermal compounds that change phase at a specifically formulated temperature. A wide range of PCMs have been developed including organic (paraffins and fatty acids), inorganics (salt hydrates and metallic) and eutectic combination of organic and/or inorganic materials. Thermal energy storage using PCMs is an effective way to store thermal energy, and makes them attractive for sustainable, environmentally friendly solutions. PCMs store thermal energy in the form of latent heat and provide maximum energy performance with minimal impact on the environment. 

Latent heat energy storage (LHES) system PCMs are well known for its excellent thermal energy storage and release during melting and solidifications respectively, and are a key solution for the implementation of renewable energies. PCMs can be efficiently deployed in applications where significant temperature difference exists in the system for intermittent thermal energy storage. These systems take advantage of the latent heat of phase change of PCM during their melting/ solidification processes to store or release heat depending on the needs and availability.

PCM products are used to improve whole-building energy efficiency in retail, commercial, hospitality, and industrial applications; enable safe transport of sensitive food and pharmaceutical products; and provide enhanced thermal storage capabilities for industrial and commercial processes, among other applications.​ The use of PCM thermal energy storage optimizes the energy production of buildings and in office cooling systems (e.g. data centers, telecommunication sites, office buildings) their use ensures operation safety. 

Markets where PCMs are applied include:

  • buildings for thermal management.
  • cement and pavements.
  • heat pumps.
  • electronic devices.
  • solar power plants.
  • cooling vests and clothing in medical and textiles.
  • thermal management in electric vehicle batteries.
  • thermal batteries.
  • refrigerated packaging and transport.

 

Report contents include:

  • Types of phase change materials, properties, advantages, drawbacks. Types covered include paraffins, non-paraffins, salt and salt composites, metal and metal alloys, bio-based, nanomaterials based. 
  • Patent analysis.
  • Markets for phase change materials including aerospace, automotive, building and construction, energy, electronics, medical, food and drink, packaging, shipping, solar thermal systems, textiles and apparel. 
  • Global revenues for phase change materials by type, market and region. 
  • In depth profiles of 51 companies including types of phase change materials produced, products, target markets, production capabilities, contact details. Companies profiled include Advanced Cooling Technologies, Azelio, Axiotherm GmbH, Azelio, Boyd Corporation, HeatVentors, Croda,  Hangzhou Ruhr New Material Technology Co., Ltd. and many more. 

 

1              EXECUTIVE SUMMARY   9

  • 1.1          What are Phase change materials (PCMs)?           9
  • 1.2          Markets               9
  • 1.3          Market drivers  11
  • 1.4          Properties of Phase Change Materials (PCMs)     12
  • 1.5          Phase change materials (PCM) drawbacks             13
  • 1.6          Global revenues, 2019-2032        13
    • 1.6.1      By type 13
    • 1.6.2      By market           15

 

2              INTRODUCTION 20

  • 2.1          Thermal energy storage (TES)     20
    • 2.1.1      Sensible heat storage     20
    • 2.1.2      Latent heat storage         21
  • 2.2          Phase change materials 21
    • 2.2.1      Organic/biobased phase change materials            23
      • 2.2.1.1   Advantages and disadvantages  23
      • 2.2.1.2   Paraffin wax       23
      • 2.2.1.3   Non-Paraffins/Bio-based              24
    • 2.2.2      Inorganic phase change materials             25
      • 2.2.2.1   Salt hydrates      25
      • 2.2.2.2   Metal and metal alloy PCMs (High-temperature) 26
    • 2.2.3      Eutectic mixtures             27
    • 2.2.4      Encapsulation of PCMs  27
      • 2.2.4.1   Macroencapsulation       27
      • 2.2.4.2   Micro/nanoencapsulation            27
    • 2.2.5      Nanomaterial phase change materials     28

 

3              PATENT ANALYSIS            29

 

4              END USER MARKETS FOR PHASE CHANGE MATERIALS      31

  • 4.1          AEROSPACE        31
    • 4.1.1      Coatings               31
    • 4.1.2      Propulsion          31
  • 4.2          AUTOMOTIVE   32
  • 4.3          BUILDINGS AND CONSTRUCTION              33
    • 4.3.1      Improved energy efficiency         33
    • 4.3.2      Concrete             35
    • 4.3.3      HVAC    35
  • 4.4          ELECTRONICS     38
    • 4.4.1      Thermal management and cooling            38
  • 4.5          PACKAGING AND COLD CHAIN LOGISTICS              40
    • 4.5.1      Temperature-controlled shipping             40
  • 4.6          REFRIGERATION SYSTEMS            42
    • 4.6.1      Commercial refrigeration             42
  • 4.7          THERMAL STORAGE SYSTEMS     44
    • 4.7.1      Water heaters   44
    • 4.7.2      Thermal batteries for water heaters and EVs        44
  • 4.8          TEXTILES AND APPAREL 47
    • 4.8.1      Temperature controlled fabrics  47
    • 4.8.2      Cooling vests     47

 

5              COMPANY PROFILES       50 

 

6              RESEARCH METHODOLOGY         93

 

7              REFERENCES       94

 

List of Tables

  • Table 1. Market drivers for phase change materials.         11
  • Table 2. Properties of PCMs.       12
  • Table 3. Global revenues for phase change materials, 2019, by type.         14
  • Table 4. Global revenues for phase change materials, 2020, by type.         15
  • Table 5. Global revenues for phase change materials, 2019-2032, by market, conservative estimate (millions USD).                15
  • Table 6. Global revenues for phase change materials, 2019-2032, by market, high estimate (millions USD).             18
  • Table 7.  PCM Types and properties.        22
  • Table 8. Advantages and disadvantages of organic PCMs.               23
  • Table 9. Advantages and disadvantages of organic PCM Fatty Acids.          24
  • Table 10. Advantages and disadvantages of salt hydrates               26
  • Table 11. Advantages and disadvantages of low melting point metals.      26
  • Table 12. Advantages and disadvantages of eutectics.     27
  • Table 13. Recent PCM patents.  29
  • Table 14. Market assessment for PCMs in automotive-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges.    32
  • Table 15. Market assessment for PCMs in building and construction-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges.             36
  • Table 16. Market assessment for PCMs in electronics-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges.    38
  • Table 17. PCMs used in cold chain applications.  40
  • Table 18. Market assessment for phase change materials in packaging and cold chain logistics-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges. 41
  • Table 19. Market assessment for PCMs in refrigeration systems -market age, applications, key benefits and motivation for use, market drivers and trends, market challenges.    42
  • Table 20. Market assessment for PCMs in thermal storage systems-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges.             45
  • Table 21. Commercially available PCM cooling vest products.       48
  • Table 22. Market assessment for PCMs textiles and apparel-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges.           49
  • Table 23. Type of PCM produced, by company.   50
  • Table 24. Target markets for PCMS, by company.               51
  • Table 25. CrodaTherm Range.     60

 

List of Figures

  • Figure 1. PCM mode of operation.            9
  • Figure 2. Applications of PCM by temperature range.       11
  • Figure 3. Global revenues for phase change materials, 2019-2032, by market, conservative estimate (millions USD).                17
  • Figure 4. Global revenues for phase change materials, 2019-2032, by market, high estimate (millions USD).            19
  • Figure 5. Thermal energy storage materials.         20
  • Figure 6. Phase Change Material transient behaviour.      21
  • Figure 7. Classification of PCMs. 21
  • Figure 8. Phase-change materials in their original states. 22
  • Figure 9. Phase change materials patents 2001-2021.        29
  • Figure 10. Schematic representation of the PCM de-icing.              31
  • Figure 11. Global energy consumption growth of buildings.           33
  • Figure 12.  Energy consumption of residential building sector.      33
  • Figure 13. Schematic of PCM use in buildings.      34
  • Figure 14. Comparison of the maximum energy storage capacity of 10 mm thickness of different building materials operating between 18 °C and 26 °C for 24 h.        35
  • Figure 15. Schematic of PCM in storage tank linked to solar collector.       44
  • Figure 16. UniQ line of thermal batteries.              45
  • Figure 17. PCMs-containing microcapsules incorporated into textiles.      47
  • Figure 18. PCM cooling vest.       48
  • Figure 19. Solid State Reflective Display (SRD®) schematic.            57
  • Figure 20. Transtherm® PCMs.   58
  • Figure 21. HI-FLOW Phase Change Materials.       70
  • Figure 22. Crēdo™ ProMed transport bags.           76

 

 

The Global Market for Phase Change Materials
The Global Market for Phase Change Materials
PDF download and by email. Enterprise-wide licence.

 
The Global Market for Phase Change Materials
The Global Market for Phase Change Materials
Print edition (including tracked delivery).
 
The Global Market for Phase Change Materials
The Global Market for Phase Change Materials
PDF and print edition (including tracked delivery). Enterprise-wide licence.
 

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