Phase Change Material Segmentation
Type (Organic, Inorganic, Eutectic)
In phase change material market, Organic segment is poised to account for substantial share by the end of 2037, which is the highest when compared to the revenue gathered in the year 2024 of USD 0.5 billion. This segment's revenue growth is poised to be dominated by the rise in construction projects.
There were expected to be about 794,431 built-up areas (BUAs) worldwide in 2016. Further, these estimations were predicted to expand to over 849,406 residents by 2022. Also, about 2 million buildings are set to be developed by 2050. As a result, the demand for organic phase change material is estimated to rise. This could also be influenced by growing net-zero initiatives in the construction sector. Consequently, the growth of the market is poised to expand.
Application (HVAC, Waste Heat Recovery, Clothing, Others)
By the end of 2037, HVAC segment is expected to hold remarkable phase change material market share. The main element to encourage the growth of the segment is increasing urbanization across the globe. According to UNCTAD, the urban population globally was predicted to experience growth by 56.9 percent in 2022.
Owing to this factor, the deployment of HVAC systems is also estimated to rise since it has achieved an indispensable place in their life to provide the expected comfortable environment regardless of the temperature outdoors.
End-Use Industry (Building & Construction, Packaging, Textile, Electronics, Others)
Building & construction segment is poised to hold substantial phase change material market share by the end of 2037, up from the revenue of USD 0.4 billion generated in the year 2024. This could be notably influenced by growing investment in building structures.
Further people across the globe are becoming aware of the population caused by the construction sector. Hence, their conscious attitude of preferring green development is encouraging this sector to adopt a market.
Our in-depth analysis of the market includes the following segments:
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