February 2023: SINOMAX USA Inc. announced the expansion of sustainable bedding and mattress solutions. These mattresses are made of bio-based phase change material, which provides cooling solutions. It has temperature-regulation technology that stabilizes the skin temperature.
January 2022: Honeywell International, Inc. launched the new low global warming-based refrigerant, Solstice N71 (R-471A) for the application in supermarket industry. It has non-flammable characteristics and is highly energy-efficient
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 4973
Published Date: Jun 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing construction of green buildings, rising use of HVAC systems, and growing global trade are the major factors driving the market growth.
The market size of phase change material is anticipated to attain a CAGR of ~19% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are BASF SE, Microtek Laboratories Inc., Thermo Fisher Scientific Inc., Medifab Global Group, Integreon Inc., Thal Technologies B.V., Sinomax USA Inc., Rubitherm Technologies GmbH, Croda International Plc., PureTemp LLC., and Honeywell International, Inc.
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, form, application, and by region.
The cold chain & packaging segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Lack of awareness regarding the befits of PCM and the high cost of implementation PCM in old systems are estimated to be the growth hindering factors for the market expansion.
The market in the European region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.