Phase change materials are also called as latent heat storage units because of its character of storing and releasing large amount of energy. Phase change materials (PCM) have high heat of fusion which on melting or solidifying at a certain temperature, releases large amount of energy. Heat is absorbed or released when the material is transformed from solid to liquid or vice versa.
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| Source: wcec.ucdavis.edu |
Characteristics:
The temperature range for Phase Change Materials varies from -5°C up to 190°C. Range
of 20 to 30 °C proved to be very effective when it comes to human comfort range
as PCM stores 5 to 15 times more heat per unit volume than conventional materials
like rock, water or stone.
Market Analysis:
According to a research report, the size of global phasechange material market was $460 million in 2013 which is estimated to reach $1,150 million by 2018. The firm estimates that, the PCM market is growing atvery attractive CAGR rate of 20.1% from 2013-2018.
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| Source: www.cryopak.com |
The main growth drivers for this market are
energy saving, eco friendliness and vast application base in various industries
including building & construction, HVAC, cold storage, refrigeration,
thermal energy storage, electronics etc. The market will see new opportunities
and growing demand with reduction in prices of PCM and advancement in R&D
for the materials.
Applications of Phase
Change Materials:
- Thermal energy storage
- Cooling of heat and electrical engines
- Cooling: food, beverages, coffee, wine, milk products, green houses
- Conditioning of buildings, such as 'ice-storage'
- Medical applications: transportation of blood, operating tables, hot-cold therapies
- Solar power plants
- Thermal protection of electronic devices
- Thermal protection of food: transport, hotel trade, ice-cream, etc.
- Passive storage in bioclimatic building/architecture (HDPE, paraffin)
- Spacecraft thermal systems
- Thermal comfort in vehicles
- Textiles used in clothing
- Computer cooling
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| Source: freespace.virgin.net |
There is a leading change going on these days for the uses of
organic to inorganic PCMs. Inorganic PCMs dominate the market with regards to
volume while organic PCMs dominate in terms of value.
Key
Players in the phase change materials market are as follows:
- Sonoco Products Co., (U.S.)
- Cryopak (U.S.)
- DuPont (U.S.)
- Entropy Solutions Inc., (U.S.)
- Microtek Labs (U.S.)
- Micron Technology Inc.(U.S.)
- Phase Change Energy Solutions (U.S.)
- Laird PLC (UK)
- Datum Phase Change (UK)
- Advansa B.V. (Netherlands)
- Salca B.V. (Netherlands)
- PCM Energy, and (India)
- Pluss Polymers Pvt. Ltd (India)
Fire and Safety Issues:
Phase change materials are toxic & flammable as well as some
PCMs are non-toxic. So a careful decision must be taken while choosing any PCM
with regards to the building codes and engineering practices.
European market is witnessing the highest growth because of
most no. of companies established in the region. North America is another
important market growing at a fast rate. Main reasons behind development of
phase change materials industry are high cost of energy, wide application base
& regulations imposed by governments.
There are selected companies in phase change material market
across the globe. The competition in this market is low. Most of the companies
are focusing their marketing strategies around increasing awareness about the
products and its advantages. The widely accepted growth strategy for market is new
product development and creating new market for phase change materials.
With a high CAGR of above 20% from 2013-2018, PCM market has the promising opportunities
in the years to come.
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