The Europe Advanced Phase Change Materials Market would witness market growth of 10.4% CAGR during the forecast period (2022-2028).
Organic (carbon-containing) compounds originating from petroleum, plants, or animals, and salt hydrates, which often utilize organic salts from the sea or minerals resources or are by-products of other operations, are the two main types of phase transition material. Solid to solid phase change is the third type.
At a phase transition, the advanced phase-change material (PCM) releases or absorbs a significant quantity of energy. The phase shift of these materials is typically linked to a change in matter state, from solid-state to liquid or liquid to gas. However, in many application areas, exploiting solid-to-solid phase shift is favorable. Water is the most well-known advanced phase change material, as it transitions from liquid to solid at 0°C and from liquid to gas at 100°C. The latter casing was used as the working principles of a steam engine, ushering in the age of human history's first industrial revolution.
Germany produced the first telephone, the first electric engine, and the first configurable computer, to name a few important achievements. International growth, wealth, employment, and environmental protection have never been more reliant on electronic and micro technology advancements than they are now at the dawn of the twenty-first century. Germany is a key player in this market, with unequalled international recognition for German ideas. The German electrical and electronics industry exports more than half of the products and services it produces.
The Germany market dominated the Europe Advanced Phase Change Materials Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $173.9 million by 2028. The UK market is anticipated to grow at a CAGR of 9.5% during (2022 - 2028). Additionally, The France market would experience a CAGR of 11.2% during (2022 - 2028).
Based on Application, the market is segmented into Building & Construction, Energy Storage, Shipping & Transportation, HVAC, Electronics, Textiles, and Others. Based on Type, the market is segmented into Organic PCM, Inorganic PCM, and Bio-based PCM. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Advanced Phase Change Materials Market will Hit $2.8 Billion by 2028, at a CAGR of 10.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include PLUSS Advanced Technologies, BASF SE, Entropy Solutions, Outlast Technologies GmbH, DuPont de Nemours, Inc., Sonoco Products Company, Phase Change Solutions, Cryopak, Microtek Laboratories, Inc., and ADVANSA Marketing GmbH.
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