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(Medical-NewsWire.com, October 29, 2019 ) Market Overview
• Phase change material (PCM) are substances which absorb or release a large amount of latent heat when they go through a change in their physical state (from solid to liquid or vice versa).
• PCM in the form of microcapsules can be incorporated within the fibers or foams or, may be coated onto fabrics. These materials are nowadays used in lightweight buildings, wallboards, shutters, external cladding, and interior plasters.
Market Dynamics
Drivers:
• Rise in PCM-integrated green buildings to reduce greenhouse gas emissions is driving the Europe phase change material market during the forecast period.
• The rise in global warming has compelled countries to actively pursue climate change initiatives in the construction sector and integrate innovative materials in an attempt to reduce greenhouse gas emissions through temperature control and reduction in energy consumption.
• According to the Global Alliance for Buildings and Construction Buildings account for more than one-quarter of all greenhouse gas emissions (GHGs),. Phase change materials provide an excellent solution as alternative building materials to reduce energy consumption through thermal energy storage systems.
• The European Commission and regional companies actively seek avenues of collaborations and partnerships in an attempt to develop a course of the action plan and strategy for implementation of proposals.
• In September 2017, the European Commission launched the pilot phase of a new EU-wide framework for sustainable buildings called Level(s), an assessment framework aiming to transform the building sector.
Restraints:
• Major factors hindering the Europe Phase Change Material market are high manufacturing and maintenance cost associated with the materials and operational challenges with the PCM.
Market Segmentation
• Europe Phase change material is segmented into product type and application. Product type includes Bio-Based PCM, Inorganic PCM, and Organic PCM and by use includes Building & Construction, Electronics, Packaging & Transportation, Textile, Medical, and Others.
• The organic PCM segment is leading by market share owing to the chemical stability, safety, and non-reactivity offered by the integration of end-products in various end-user parts.
• The ease of compatibility of organic PCMs with traditional construction materials, coupled with the easy handling of finished goods, would propel the increased applications of products, further driving the growth of the market.
• The high enthalpy of organic PCMs, coupled with the negligible loss of effectiveness displayed by the products with subsequent effective thermal cycling is expected to provide new opportunities for growth to the finished goods.
• The Building & Construction segment is leading by market share owing to the benefits of energy and cost savings offered by PCM. Overall product performance, adoption of stringent government regulations by the EU mandating the use of innovative building materials in a bid to reduce greenhouse gases contribute its prominent share.
• The rapid economic growth on a global scale and increase in consumer spending have led to the overall energy consumption in buildings, with the rise in the installation of HVAC equipment and associated electronic goods to provide for cooling facilities contributing to the massive surge in use.
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Competitive Trends
• The competitive scenario of Europe Phase Change Materials is significantly influenced by the presence of international, regional, and local vendors and suppliers, with a focus on maintaining market position in a reasonably competitive market.
• The key market players focus on the technological development of end-products in a bid to increase technical performance, with R&D centers across the region trying to offer varied product features to increase its sales volume.
• In October 2018, Electrocube Germany launched two new PCMs for thermal management, TPM350 and TPM550, which are silicone-free, have an operating temperature range of -40 to +125˚C and are RoHS-2 compliant. Both products are formulations comprising an advanced polymer matrix and a dispersion of highly thermally conductive fillers that determine the material’s phase change temperature with high accuracy.
• In November 2017, Croda International Plc opened its center of innovation for formulation science at the University of Liverpool’s new Materials Innovation Factory (MIF).
• In May 2017, Microtek Laboratories, Inc. signed a contract with BASF for their Micronal® brand and product line, as well as, a worldwide exclusive license for the manufacture of Micronal microencapsulated phase change materials.
• In March 2017, Europe GmbH launched Outlast® Xelerate combining the PCM technology with the technology of a heat spreader.
• Major market players in the Europe Phase Change Material market are Dowdupont Inc., Microtek Laboratories, Inc, Henkel AG, Parker Hannifin Corporation, Cryopak Industries Inc., Exotherm Gmbh, Croda International Plc, Rubitherm Technologies Gmbh, Outlast Europe Gmbh, Laird Plc.
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Source: EmailWire.Com 
Source: EmailWire.com
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