The study involved four major activities in estimating the market size for phase change materials market. Intensive secondary research was done to gather information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Post that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Primary Research
The phase change materials market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized from key opinion leaders in various applications for the phase change materials. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Breakdown of Primary Participants
Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022 available in the public domain, product portfolios, and geographical presence.
Other designations include consultants and sales, marketing, and procurement managers.
To know about the assumptions considered for the study, download the pdf brochure
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COMPANY NAME
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DESIGNATION
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Honeywell International Inc.
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Global Strategy & Innovation Manager
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DuPont de Nemours, Inc.
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Technical Sales Manager
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Croda International Plc
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Senior Supervisor
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Boyd Corporation
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Production Supervisor
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Sasol Limited
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Production Manager
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the phase change materials market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
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The key players in the industry have been identified through extensive secondary research.
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The supply chain of the industry has been determined through primary and secondary research.
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All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
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All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Phase change materials market: Bottom-Up Approach
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Phase change materials market: Top-Down Approach
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into respective segments and subsegments. To realize the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying several factors and trends from both the demand and supply sides in the phase change materials industry.
Market Definition
According to Phase Change Material Industry Association (PCMIA), Phase Change Materials (PCMs) are compounds that absorb, store, and release a large amount of heat at a relatively constant temperature by changing their physical state. When a PCM freezes, it releases a large amount of energy as latent heat whereas, when such material melts, it absorbs a large amount of heat from the environment. Heat stored in the materials is called latent heat, due to which, PCMs are also known as latent heat storage materials. PCMs absorb and release heat by liquefying and solidifying at set temperatures. The natural latent heat property of PCMs helps in maintaining a structure’s temperature and preventing sudden external changes. Fluctuations in ambient temperature recharge advanced PCMs, making them suitable for everyday applications.
High demand for phase change materials market in the building & construction industry is the main factor driving the market for phase change materials.
Key Stakeholders
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Phase change materials manufacturers
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Raw material manufacturers
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Government planning commissions and research organizations
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Industry associations
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End-use industries
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R&D institutions
Report Objectives
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To analyze and forecast the size of the phase change materials market in terms of value and volume
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To provide detailed information regarding key factors, such as drivers, restraints, challenges, and opportunities influencing the growth of the market
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To define, describe, and segment the phase change materials market based on type and application
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To forecast the size of the market segments for regions such as Asia Pacific, North America, Europe, and Rest of the World
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To strategically analyze the segmented markets with respect to individual growth trends, prospects, and contributions to the overall market
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To identify and analyze opportunities for stakeholders in the market
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To strategically profile key players and comprehensively analyze their core competencies
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
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Further breakdown of a region with respect to a particular country or additional type and application
Company Information
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Detailed analysis and profiles of additional market players (up to five)
SURESH
Apr, 2015
Irrelevant.
Ian
Apr, 2014
Phase change material market report.
Ian
Apr, 2014
Phase Change Material Market Report.
Eanest
Aug, 2014
General information on BIO Based PCM.
Yarlagadda
Feb, 2015
Specific interest on major suppliers of encapsulated organic phase change material in South East Asia.
Natalia
Mar, 2018
Information on the global market of the products and a description. .
Ann
Apr, 2015
flexible polyurethane foam market by Application.
BIJOY
Feb, 2014
Specific information on Phase Change Material market for automotive industry.
amadeo
Dec, 2014
Directory of global PCM manufacturers, including, key contacts data leading players and 2nd tier players..
ONKAR
Nov, 2015
Market information PCM materials for the thermal energy storage.
wisam
Sep, 2022
Do you have a phase change material (beeswax)?what is the price?And what are the specifications?I want to use it to cool photovoltaic panels.I want to mix it with glycerol, what do you think?.
yasuhiro
Aug, 2015
Phase Change Material (PCM) Market .
Maria
May, 2019
Specific information on the Phase Change Materials Market in food packaging applications.
shankar
May, 2014
Sample document for Phase Change Material Market Report.
Muhamad
Apr, 2015
Interested in Engine Controls market.
umesh
Mar, 2014
General information on fabrics market and current market trends.
Meruyert
Mar, 2019
Interested in PCM reports.
David
Feb, 2017
Interested to be listed in the Company Profiles section of the specific report.