Aug. 20, 2013: Phase Change Materials Market to Reach $1.18 Billion in 2018
Phase Change Materials Capture and Reuse Wasted Ambient Energy
ALBANY, N.Y. — The global advanced phase change materials market was valued at $350 million in 2011 and is expected to increase to $1.18 billion in 2018, growing at a compound annual growth rate (CAGR) of 19.5 percent from 2012 to 2018, according to a new report published by Transparency Market Research.
Phase change materials have the ability to capture and reuse wasted ambient energy. Advanced phase change materials (APCMs) have a wide range of applications in industries including building and construction, energy storage, HVAC, and commercial refrigeration. The growth of the construction industry in China, India, and Brazil, coupled with the increased need for energy conservation, is expected to drive APCM demand over the next five years.