MARKET OUTLOOK
As per a Triton Market Research report on the phase change materials market in Europe, the industry would progress at a CAGR of 19.90% over the projected period 2019-2028.
Germany, Belgium, France, Italy, Poland, the United Kingdom, Russia and Rest of Europe comprise the phase change materials market in Europe.
Stringent government rules regarding the reduction of CO2 emission by buildings are primarily driving the growth of the phase change materials market. The European government has been taking several initiatives for the development of green buildings. This is boosting the growth of the PCM market in the region. Moreover, variations in the climatic conditions of Europe are creating a huge demand for smart clothing and textiles in both hot and cold conditions. Besides, the presence of huge market players in the Europe is also favoring the regional market growth.
There are immense opportunities for PCMs for use in transportation and cold storage. Europe is among the leading exporters of meat, and the maintenance of quality is very important to comply with the strict regulations of the authorities. The use of PCMs in cold storage aids in maintaining the required temperature by making use of any excess energy. The advancement in the technologies is expected to push the growth of the European phase change materials market over the forecast period.
COMPETITIVE OUTLOOK
Some of the players operating in the phase change materials market are Laird, PureTemp LLC, Climator Sweden AB, AI Technology Inc, Phase Change, Outlast Technologies LLC, DuPont and Dow.