Advanced Phase Change Materials Report, published by Allied Market Research, forecast that the global market is projected to reach $2,434 million by 2022 from $691 million in 2015, growing at a CAGR of 19.8% from 2016-022. Building & construction segment occupied major share of the total market in 2015.
In 2015, Europe dominated the global advanced phase change materials market with maximum share, in terms of both revenue and volume. This was attributed to the high percentage of manufacturers and consumers of phase change materials. In addition, Asia-Pacific is expected to grow with the highest rate, registering a CAGR of 20.3% throughout the forecast period, owing to rapid industrialization in China and India, growth in infrastructure, increase in awareness about application of advanced phase change materials, and favorable government rules & regulations.continue reading →