PCMs absorb excess heat during the day and release them when the temperature is below the preset target temperature
For the past year, WinWerks has been discussing the benefits and uses of Infinite R, an inorganic phase change material (PCM) that absorbs heat energy from its surroundings. As it turns out, we aren't the only ones who have realized how useful PCM can be. In a new report released this month, Markets and Markets estimated that the PCM market size was $235.3 million in 2016 and is projected to reach $638.7 million by 2022. This appears to have been driven by strict building codes in Europe and North America, as well as awareness of reducing greenhouse gases, which has increased the demand for renewable energy sources and passive energy savings. The PCM market is also growing due to increased demand for building and construction, electronics, packaging, refrigeration, textile and HVAC applications, with building and construction accounting for the largest share of growth.
Moreover, inorganic PCM accounts for the largest share of the market, in both value and volume. This is primarily due to an increase in demand for non-flammable PCMs, as well as the rising demand for fiberglass insulation from refrigeration, packaging, and HVAC sectors. This means that Infinite R is a part of this expanding market. In fact, Insolcorp Inc., the manufacturer of Infinite R, was credited in the report as a key market player in the analysis.
Currently, the PCM market is largest in Europe, where building energy efficiency is a priority and regulations about the usage and handling of temperature sensitive materials is much stricter. On top of that, PCM demand is growing in the housing market, especially in countries like Germany and France. However, while the PCM market in Europe is the largest, North America is going to see a higher compound annual growth rate between 2017 and 2022.
A sheet of Infinite R PCM
This market prediction is not only good news for Insolcorp, manufacturers of Infinite R PCM, but buyers of PCM as well! s more people invest in PCM and the market grows, PCM will contribute to becoming more efficient, thinner and more discreet, and the ratio of cost to return, improved! Plus, as it becomes widespread in commercial buildings and homes, architects, mechanical engineers, and construction companies will understand how to install it quickly and easily. All of this means that PCMs like Infinite R will become more accessible, and an even better contribution to an energy efficient office building, school, store, factory or home!
Please visit: WinWerksIPD.com to find out more about how investing in Infinite R Phase Change Material can lower your energy costs while maintaining a comfortable building temperature.