Phase Change Materials Market Trends Show Bio-Based Segment Growth For Fabric Coatings As Per The Business Research Company's Phase Change Materials Global Market Report 2021

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LONDON, Sept. 21, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company's research report on the phase change materials market, the introduction of bio-based phase change material fabric coatings is shaping the phase change materials market. Bio-based phase change materials are manufactured using bio-based products such as beef tallow or oils from coconut, palm, and soybeans.

For instance, in January 2019, a US-based specialty chemical company, PureTemp LLC has developed a bio-based fabric coating that serves as an effective temperature buffer. A bio-based fabric coating is a designed phase change material coating that is applied to the fabric surface to control temperature changes in consumer products such as apparel, footwear, and workwear.

The main types of phase change materials are organic, inorganic, and biobased. Organic phase change materials are a type of phase change materials that can absorb and release latent heat during the phase change process at certain temperatures. The different product types include paraffin, non-paraffin, salt hydrates, eutectics and use various encapsulation technologies such as macro, micro, and molecular. These are implemented in several end-use industries such as building and construction, packaging, textiles, electronics, transportation, and others.

The global phase change materials market size is expected to grow from $0.94 billion in 2020 to $1.04 billion in 2021 at a compound annual growth rate (CAGR) of 11.4%. The growth in the phase change market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The phase change market size is expected to reach $2.16 billion in 2025 at a CAGR of 19.9%.

The Business Research Company's report titled <a …

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