The global demand for advanced phase change materials is expected to reach $1.47 billion by 2019. The latest research report on the industry by Markets and Markets
attributes the growth to increasing demand for advanced PCM in several areas, including thermal energy storage, building/construction, HVAC, cold chain, shipping, packaging/transportation, textiles and electronics.
The main types of advanced PCMs are salt hydrates, paraffins and biobased compounds. "Biobased PCM is estimated to have the highest CAGR from 2014 to 2019," the report said. "Prices of biobased PCM are also likely to fall significantly during the same period."