The Americas Bio-based Advanced Phase Change Material Market is estimated to grow to $59.2 million by 2018 - New Report by MicroMarket
(PRWEB) October 09, 2014
The Americas Bio-based Advanced Phase Change Material Market is estimated to grow to $59.2 million by 2018 at a CAGR of 27.2% between 2013 and 2018 due to norms and specific regulations from the government for standardized production, attracting more recyclable products demand in the region
Browse through the TOC of Americas Bio-based Advanced Phase Change Material Market report to get an idea of the in-depth analysis provided. This also provides a glimpse of the segmentation in the Americas bio-based advanced phase change material market, and is supported by various tables and figures.
Bio-based phase change materials (PCM) are renewable, green alternatives to paraffinic PCMs. These bio-based compounds are obtained from animal fat, for instance, beef tallow and oils from plants, such as palms, coconuts, and soybeans. These are non-toxic and can be recycled through thousands of cycles without any material degradation. Being hydrogenated hydrocarbons with a saturated electronic configuration, these compounds are chemically stable and can last for decades. In addition, fat and oil-based PCMs offer similar or improved performance, greater degree of fire resistance, and reduced costs in comparison to other PCMs. The bio-based PCM has a wide melting point temperature range which can be customized as per the requirement.
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The Americas forms the largest market for bio-based advanced phase change materials (PCM) market in the world, with leading players competing in the region and producing world-class products. The countries included in the region are U.S., Canada, and Brazil, where U.S. is the leading market with highest consumption in the region. The growth of the Americas bio-based PCM market is boosted mainly by the initiatives of various regulatory bodies, such as the Emerging Technologies Coordinating Council and the National Renewable Energy Laboratory (NREL) of the Department of Energy (DoE) for sustainable development in the region. These institutes help market players incorporate bio-based PCM in their products by performing tasks, such as site selection, coordination, and evaluation of tests on technology performance, risks, and costs. The manufacturers are planning for expansion in the region by investing in production capacities that adhere to the standards decided by the regulatory bodies.
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The report covers the Americas bio-based advanced phase change material market which is segmented on the basis of application and geography. In the Americas region, the bio-based advanced phase change materials are applied in building & construction, phase change memory, refrigeration, energy storage systems, supply chain, textiles manufacturing, and heating ventilation and air conditioning system (HVAC).
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The Europe Bio-Based Advanced Phase Change Materials Market is witnessing a high growth due to its wide spread usage in European building and construction application. The report estimates the size of the Europe Bio-Based Advanced Phase Change Materials Market both, in terms of volume and value. The report provides a comprehensive overview of the key market drivers, challenges and issues. Europe Bio-Based Advanced Phase Change Materials Market is projected to reach $46.4 million by 2018, growing at a CAGR of 31.8% from 2013 to 2018. The key driver of the market is the material’s construction applications and strict government rules on the CO2 emission by buildings.
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The Middle East & Africa Bio-Based Advanced Phase Change Material is witnessing a high growth due to the increasing demand by the various industry verticals for various applications. The report estimates the size of the Middle East & Africa Bio-Based Advanced Phase Change Material both, in terms of volume and value. The report provides a comprehensive overview of the key market drivers, challenges and issues. Middle East & Africa Bio-Based Advanced Phase Change Material is projected to reach $25.2 million by the year 2018, growing at a CAGR of 20.1% from 2013 to 2018. The key driver of the market is the rising environmental concern about the degradation of organic material.
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