According to the research report titled ‘GLOBAL Phase Change Materials Market 2019-2028’, available with Market Study Report, global phase change materials market is expected to register a CAGR of 18.99% through 2028.
 

The growth of this business space can be primarily attributed to widespread adoption of phase change materials in textile applications. Phase change materials are known to maintain the desired temperature without consuming additional energy.
 

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Moreover, PCM-based fabrics are extensively used to balance out temperatures and can help in supporting the normal insulation properties of clothes, which in turn is adding traction to the overall market size.
 

High manufacturing costs and limited demand could, however, act as a bottleneck to the expansion of global phase change materials industry.
 

Regionally, Europe phase change materials industry is anticipated to showcase a robust compound annual growth rate in the ensuing years, primarily driven by widespread adoption of the product in transportation and cold storage applications.
 

In addition, strict regulatory outlook pertaining to food export and technological advancements in this business vertical are favoring the regional market scenario.
 

The competitive landscape of global  phase change materials market is defined by companies such as Sasol Limited, Honeywell International Inc., PLUSS, Phase Change Solutions Inc., Outlast Technologies LLC, Microtek Laboratories Inc., Sonoco ThermoSafe, Laird plc, Henkel AG & Co. KGaA, PureTemp LLC, DuPont de Nemours Inc., The Dow Chemical Company, Croda International plc, Climator SWEDEN AB, and AI Technology Inc. among others.