#Thermal Energy Storage Market share

[industrynewsupdates]

The global thermal energy storage market size was valued at USD 4.1 billion in 2019 and is projected to grow at a compound annual growth rate (CAGR) of 9.45% from 2020 to 2027. 

Shifting preference towards renewable energy generation, including concentrated solar power, and rising demand for thermal energy storage (TES) systems in HVAC are among the key factors propelling the industry growth. Growing need for enhanced energy efficiency, coupled with continuing energy utilization efforts, will positively influence the thermal energy storage demand. For instance, in September 2018, the Canadian government updated a financial incentive plan “Commercial Energy Conservation and Efficiency Program” that offers USD 15,000 worth rebates for commercial sector energy upgrades.

Gather more insights about the market drivers, restrains and growth of the Thermal Energy Storage Market

The market in the U.S. is projected to witness substantial growth in the forthcoming years on account of increasing number of thermal energy storage projects across the country. For instance, in 2018, the U.S. accounted for 33% of the 18 under construction projects and 41% of the total 1,361 operational projects globally. Presence of major industry players in the country is expected to further propel the TES market growth in the U.S.

The U.S. Department of Energy (DoE) evaluates thermal energy storage systems for their safety, reliability, cost-effective nature, and adherence to environmental regulations and industry standards. It also stated that Europe and the Asia Pacific display higher fractions of grid energy storage as compared to North America. Rising need for a future with clean energy is prompting governments across the globe to take efforts towards developing innovative energy storage systems.

The primary challenge faced by the thermal energy storage sector is the economical storage of energy. An important advancement in this sector has been the usage of lithium-ion batteries. These batteries exhibit high energy density and long lifespans of 500 deep cycles, i.e. the number of times they can be charged from 20% to their full capacity before witnessing a deterioration in performance. They can also be utilized in electric vehicles, district cooling and heating, and power generation.

Thermal Energy Storage Market Segmentation 

Grand View Research has segmented the global thermal energy storage market report on the basis of product type, technology, storage material, application, end user, and region:

Product Type Outlook (Revenue, USD Million, 2016 - 2027)

• Sensible Heat Storage

• Latent Heat Storage

• Thermochemical Heat Storage

Technology Outlook (Revenue, USD Million, 2016 - 2027)

• Molten Salt Technology

• Electric Thermal Storage Heaters

• Solar Energy Storage

• Ice-based Technology

• Miscibility Gap Alloy Technology

Storage Material Outlook (Revenue, USD Million, 2016 - 2027)

• Molten Salt

• Phase Change Material

• Water 

Application Outlook (Revenue, USD Million, 2016 - 2027)

• Process Heating & Cooling

• District Heating & Cooling

• Power Generation

• Ice storage air-conditioning

• Others

End-user Outlook (Revenue, USD Million, 2016 - 2027)

• Industrial

• Utilities

• Residential & Commercial

Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America

o U.S.

o Canada

o Mexico

• Europe

o U.K.

o Russia

o Germany

o Spain

• Asia Pacific

o China

o India

o Japan

o South Korea

• Central & South America

o Brazil

• Middle East and Africa (MEA)

o Saudi Arabia

Browse through Grand View Research's Power Generation & Storage Industry Research Reports.

• The global energy storage for unmanned aerial vehicles market size was estimated at USD 413.25 million in 2023 and is expected to grow at a CAGR of 27.8% from 2024 to 2030. 

• The global heat recovery steam generator market size was estimated at USD 1,345.2 million in 2023 and is projected to reach USD 1,817.0 million by 2030 and is anticipated to grow at a CAGR of 4.5% from 2024 to 2030.

Key Companies & Market Share Insights

Industry participants are integrating advanced technologies into the existing technology to enhance the product demand through the provision of improved thermal energy management systems. Furthermore, eminent players are emphasizing on inorganic growth ventures as a part of their strategic expansion. Some of the prominent players in the global thermal energy storage market include:

• BrightSource Energy Inc.

• SolarReserve LLC

• Abengoa SA

• Terrafore Technologies LLC

• Baltimore Aircoil Company

• Ice Energy

• Caldwell Energy

• Cryogel

• Steffes Corporation

Order a free sample PDF of the Thermal Energy Storage Market Intelligence Study, published by Grand View Research.

[downincmi]

Thermal Energy Storage Market Dynamics: Innovations and Opportunities

Introduction

Thermal energy storage (TES) refers to technologies that provide long-term storage of heat or cold for later use. Unlike conventional batteries, TES systems stock thermal energy by utilizing heat transfer between a storage medium and a heat sink or source. TES promises to deliver energy stability, address intermittency issues associated with renewable sources like solar and wind, and reduce peak demand on generation systems. Need and Applications of Thermal Energy Storage

There are several factors driving the need for widespread implementation of TES technologies. One key factor is the intermittent nature of renewable sources like solar and wind which produce energy only when the sun shines or wind blows. TES allows excess thermal energy generated from such resources to be stored for later use when the source may not be available. Secondly, TES helps address demand-supply mismatch problems as heat can be stored during off-peak generation periods and supplied when demand peaks. This helps shave peak loads on the electric grid and reduce transmission congestion. TES also finds applications in buildings for space cooling and heating by buffering energy from HVAC systems. Other notable uses include industrial process heating/cooling and production of chilled water for air conditioning. TES Materials and Methods

A variety of materials and technologies are used for TES depending on the temperature range and period of storage required. Sensible heat storage systems store energy by altering the temperature of a solid or liquid storage medium like water, molten salts, rocks or phase change materials. Latent heat storage utilizes the heat released or absorbed during phase transition of substances like paraffin wax or water for storage. Thermochemical storage relies on reversible endothermic chemical reactions to store energy in chemical bonds. Other methods include cryogenic storage using liquefied air or hydrogen and temperature gradient exchange using metallic foams. Each approach has its technical and economic viability depending on the application. Commercial Applications of TES

Several commercial TES systems are currently operational worldwide to support solar thermal power plants and process heating applications. Andasol, located in Spain, was one of the first commercial plants to use molten salt storage achieving over 7 hours of full-load energy generation after sunset. Solar One and Solar Two projects in USA demonstrated 10 hours molten salt storage coupled with solar power towers. Industrial process heating levers TES vastly for processes requiring steam or heat treatment. Buildings have begun integrating TES in form of borehole thermal energy storage to provide summer cooling and winter heating. Moving forward, cost reductions through economies of scale and material innovations will make TES increasingly viable across sectors. R&D Focus and Future Potential

Significant research continues to emerge new storage materials, designs targeting specific heat applications and system optimization. PCMs ranging from biobased oils to graphene-enhanced composites are being examined for high density storage. Thermochemical storage employing reversible hydrolysis/dehydration of salt hydrates shows promise at high temperatures. Researchers are also modeling hybrid thermal-electric systems leveraging complementary storage abilities. Government incentives and industry partnerships are supportingseveral large-scale pilot projects worldwide. If technology and installation costs keep declining, TES could emerge as a mainstream approach to store tens of gigawatt-hours of thermal energy in the future. Integrated with solar, waste heat and smart grids, it may play a transformative role in global energy management. Conclusion

In conclusion, thermal energy storage is an important technology that helps maximize renewable energy generation, address intermittency issues and reduce grid loads from peak demand. It enables shifting of thermal loads in time by decoupling energy generation from use through versatile heat storage approaches. With further innovation and cost reductions, diverse TES solutions could soon help transition energy systems towards greater sustainability, flexibility and resilience worldwide. Looking ahead, hybrid multi-applications of TES will undoubtedly maximize its overall techno-economic and environmental benefits.

[neha24blog]

Thermal Energy Storage Market Outlook On The Basis Of Product Type, Technology, Storage Material, Application, End User, Region And Forecast From 2027: Grand View Research Inc.

San Francisco, 16 May 2023: The Report Thermal Energy Storage Market Size, Share & Trends Analysis Report By Product Type, By Technology, By Storage Material, By Application, By End User, By Region, And Segment Forecasts, 2020 – 2027 The global thermal energy storage market size is expected to reach USD 7.74 billion by 2027, expanding at a CAGR of 9.45% from 2020 to 2027, according to a new…

[chemicalsmaterialsnews]

Transforming Industries: Phase Change Materials Market Insights

As stated by P&S Intelligence, the total revenue generated by the phase change materials market was USD 1,775.5 million in 2021, which will power at a rate of 16.8% by the end of this decade, to reach USD 7,206.2 million by 2030.

This has a lot to do with the increasing growth in the construction and packaging sectors and increasing importance on green buildings.

Cold chain and packaging category will grow at the highest rate, of above 17%, in the years to come. This can be mostly because of the surge in PCM requirement to sustain precise temperatures through the supply chain while lowering the emissions of carbon dioxide. Using ACs and electric fans to stay cool contributes to approximately 20% of the total electricity employed in buildings globally. The increasing requirement for space cooling is straining quite a few countries' power infrastructure, along with bringing about increased emissions.

With the enormous increase in the requirement for energy-efficient ACs, the requirement for PCMs will soar, as the electrical consumption of modified ACs with PCMs could be brought down by 3.09 kWh every day.

Europe dominated the industry with a share, of about 40%, in the recent past. The predisposition toward the acceptance of eco-friendly materials will power the PCM industry in the region. European regulatory associations, such as the SCANVAC, took more than a few initiatives for developing and promoting and effective building mechanical solutions and increase awareness pertaining to PCM applications.

The convenience of paraffin at a wide range of temperatures is a major reason for its appropriateness as an energy storage medium. Likewise, paraffin-based PCM is called a waxy solid paraffin, safe, dependable, noncorrosive, and economical material.

HVAC systems had the second-largest share, of about 30%, in phase change materials market in the recent past. This has a lot to do with the fact that PCM installation decreases fluctuations of temperature. HVAC with PCM supports in maintaining a steadier temperature and eliminating thermal uneasiness caused by alterations in temperature. It is because of the emphasis on green buildings, the demand for phase change materials will continue to rise considerably in the years to come.

[pearlsmith25]

Captivating Investment Opportunities in the Thriving Thermal Energy Storage Market

Thermal energy storage (TES) is a technology that allows for the storage of excess thermal energy produced during off-peak hours for later use. It plays a crucial role in managing the demand and supply fluctuations of energy, especially in the context of renewable energy sources. TES systems store thermal energy in the form of hot or cold fluids, phase-change materials (PCMs), or through thermochemical reactions, and then release it when required.

The Thermal Energy Storage Market has been experiencing significant growth in recent years, driven by several factors such as increasing focus on renewable energy integration, the need for energy efficiency, and growing environmental concerns. TES provides a reliable and efficient solution for grid stabilization, load shifting, and balancing energy demand.

The global thermal energy storage market size was valued at US$ 4.65 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 10.28% from 2023 to 2030. The global thermal energy storage market is expected to witness a significant growth during the forecast period. This is attributed to increasing adoption of renewable power generation and growing demand for HVAC thermal energy storage systems. Moreover, the rising concern over greenhouse gas emissions and increasing fuel prices are further expected to drive demand for advanced thermal energy storage systems.

Here are some key aspects and trends in the Thermal Energy Storage Market:

Types of Thermal Energy Storage:

a. Sensible Heat Storage: In this type, thermal energy is stored by heating or cooling a liquid or solid material, such as water, rocks, or concrete. b. Latent Heat Storage: It involves the phase change of a material, typically a PCM, which absorbs or releases heat during the transition from solid to liquid and vice versa. c. Thermochemical Storage: This method stores energy through reversible chemical reactions that absorb or release heat.

Applications:

a. Residential and Commercial Heating: TES can be used for space heating and hot water production in residential and commercial buildings. b. Industrial Processes: TES is employed in various industrial sectors, including food and beverage, chemical, and manufacturing, to optimize energy use and reduce peak energy demand. c. Power Generation: TES technologies enable efficient operation and load balancing in power plants, especially in concentrated solar power (CSP) systems. d. District Heating and Cooling: TES systems can be integrated into district energy networks, providing efficient heating and cooling solutions for communities. e. Grid Energy Storage: TES helps in storing excess energy generated from renewable sources and releasing it during periods of high demand, thus supporting grid stability and reducing reliance on fossil fuel-based power plants.

Market Drivers:

a. Renewable Energy Integration: TES facilitates the integration of intermittent renewable energy sources, such as solar and wind, by storing excess energy for use during periods of low generation. b. Energy Efficiency: TES improves the overall energy efficiency of systems by reducing energy waste and optimizing energy use. c. Environmental Concerns: Growing environmental awareness and the need to reduce greenhouse gas emissions are driving the adoption of TES as a sustainable energy storage solution. d. Government Initiatives: Supportive policies and incentives provided by governments across the globe are promoting the deployment of TES technologies.

Regional Market Outlook:

a. North America: The United States and Canada are witnessing significant growth in the TES market, driven by renewable energy targets and increasing adoption of TES in various industries. b. Europe: Countries like Germany, Spain, and Denmark are leading the TES market in Europe, primarily due to their focus on renewable energy and energy storage technologies. c. Asia Pacific: China, India, and Japan are experiencing rapid growth in the TES sector, supported by government initiatives, investments in renewable energy, and increasing industrialization. d. Middle East and Africa: The Middle East region, with its abundant solar resources, is adopting TES technologies for CSP systems, while African countries are exploring TES for off-grid and rural electrification projects.

Key Market Players:

a. CALMAC Corporation b. DN Tanks c. Abengoa Solar d. BrightSource Energy e. SolarReserve f. Tesla, Inc. g. Ice Energy h. Burns & McDonnell i. Goss Engineering j. Steffes Corporation

The Thermal Energy Storage Market is expected to witness significant growth in the coming years, driven by the increasing demand for renewable energy integration, grid stabilization, and energy efficiency. Advancements in materials, technologies, and the supportive regulatory environment will continue to fuel the market's expansion, leading to a more sustainable and reliable energy future.

[reasonsforhope]

"A 1-megawatt sand battery that can store up to 100 megawatt hours of thermal energy will be 10 times larger than a prototype already in use.

The new sand battery will eliminate the need for oil-based energy consumption for the entire town of town of Pornainen, Finland.

Sand gets charged with clean electricity and stored for use within a local grid.

Finland is doing sand batteries big. Polar Night Energy already showed off an early commercialized version of a sand battery in Kankaanpää in 2022, but a new sand battery 10 times that size is about to fully rid the town of Pornainen, Finland of its need for oil-based energy.

In cooperation with the local Finnish district heating company Loviisan Lämpö, Polar Night Energy will develop a 1-megawatt sand battery capable of storing up to 100 megawatt hours of thermal energy.

“With the sand battery,” Mikko Paajanen, CEO of Loviisan Lämpö, said in a statement, “we can significantly reduce energy produced by combustion and completely eliminate the use of oil.”

Polar Night Energy introduced the first commercial sand battery in 2022, with local energy utility Vatajankoski. “Its main purpose is to work as a high-power and high-capacity reservoir for excess wind and solar energy,” Markku Ylönen, Polar Nigh Energy’s co-founder and CTO, said in a statement at the time. “The energy is stored as heat, which can be used to heat homes, or to provide hot steam and high temperature process heat to industries that are often fossil-fuel dependent.” ...

Sand—a high-density, low-cost material that the construction industry discards [Note: 6/13/24: Turns out that's not true! See note at the bottom for more info.] —is a solid material that can heat to well above the boiling point of water and can store several times the amount of energy of a water tank. While sand doesn’t store electricity, it stores energy in the form of heat. To mine the heat, cool air blows through pipes, heating up as it passes through the unit. It can then be used to convert water into steam or heat water in an air-to-water heat exchanger. The heat can also be converted back to electricity, albeit with electricity losses, through the use of a turbine.

In Pornainen, Paajanen believes that—just by switching to a sand battery—the town can achieve a nearly 70 percent reduction in emissions from the district heating network and keep about 160 tons of carbon dioxide out of the atmosphere annually. In addition to eliminating the usage of oil, they expect to decrease woodchip combustion by about 60 percent.

The sand battery will arrive ready for use, about 42 feet tall and 49 feet wide. The new project’s thermal storage medium is largely comprised of soapstone, a byproduct of Tulikivi’s production of heat-retaining fireplaces. It should take about 13 months to get the new project online, but once it’s up and running, the Pornainen battery will provide thermal energy storage capacity capable of meeting almost one month of summer heat demand and one week of winter heat demand without recharging.

“We want to enable the growth of renewable energy,” Paajanen said. “The sand battery is designed to participate in all Fingrid’s reserve and balancing power markets. It helps to keep the electricity grid balanced as the share of wind and solar energy in the grid increases.”"

-via Popular Mechanics, March 13, 2024

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Note: I've been keeping an eye on sand batteries for a while, and this is really exciting to see. We need alternatives to lithium batteries ASAP, due to the grave human rights abuses and environmental damage caused by lithium mining, and sand batteries look like a really good solution for grid-scale energy storage.

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Note 6/13/24: Unfortunately, turns out there are substantial issues with sand batteries as well, due to sand scarcity. More details from a lovely asker here, sources on sand scarcity being a thing at the links: x, x, x, x, x

[roshankumar7904800]

Carbon Nanotubes Market

Carbon Nanotubes Market Size, Share, Trends: Nanocyl SA Leads

Growing Acceptance in Uses Related to Energy Storage

Market Overview:

The global Carbon Nanotubes Market is anticipated to grow at a CAGR of 14.8% between 2024 and 2031. The market size in 2022 is estimated to be USD 876.4 million; by 2031, it is expected to have increased to USD 3,252.7 million. It is anticipated that Asia-Pacific will dominate the market throughout the forecast period. The market for carbon nanotubes is expanding quickly due to rising demand in a number of industries, including electronics, aerospace, automotive, and healthcare. Carbon nanotubes' exceptional strength, exceptional electrical and thermal conductivity, and lightweight nature are what motivate their advanced applications. Expanding research and development endeavours contribute to expanding the potential uses of carbon nanotubes, hence bolstering market expansion.

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Market Trends:

The remarkable qualities of carbon nanotubes are driving their increasing popularity in energy storage technologies. To improve their performance, carbon nanotubes are being included into supercapacitors, lithium-ion batteries, and other energy storage technologies. In these devices, carbon nanotubes' large surface area, great electrical conductivity, and mechanical strength help to increase energy density, accelerate charge-discharge rates, and extend cycle life. Growing demand for portable devices, renewable energy systems, and electric cars—all of which depend on effective energy storage—drives this trend. The importance of carbon nanotubes in energy storage uses is predicted to rise greatly as the globe moves toward greener energy sources and electrification fuels industry expansion.

Market Segmentation:

Currently holding the most market share in the carbon nanotubes sector are Multi-Walled Carbon Nanotubes (MWCNTs), thanks to their adaptability and somewhat lower manufacturing costs than Single-Walled Carbon Nanotubes (SWCNTs). Multiple layers of graphene cylinders nested inside one another make MWCNTs strong, conductive, and thermally compatible for a variety of uses. Their numerous walls and bigger diameter allow them to be produced in quantity more easily, which helps to explain their cost-effectiveness and general acceptance in many sectors. Polymer composites, conductive coatings, energy storage systems, and structural materials all find use for MWCNTs.

Market Key Players:

The carbon nanotubes market is highly competitive, with major players focusing on research and development to improve product quality, lower manufacturing costs, and increase application areas. Key companies such as Nanocyl SA, Arkema SA, Showa Denko K.K., Toray Industries Inc., Hanwha Chemical Corporation, Carbon Solutions Inc., Arry International Group Limited, Cheap Tubes Inc., OCSiAl, and Hyperion Catalysis International dominate the market.

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[willyskristina]

High purity Alumina Market

High Purity Alumina Market Size, Share, Trends: Sumitomo Chemical Co., Ltd. Leads

Surging Demand for HPA in Li-Ion Battery Separators Boosts Market Growth

Market Overview:

The High Purity Alumina (HPA) market is expected to develop at a CAGR of 21.8% between 2024 and 2031. The market value is predicted to rise from XX USD in 2024 to YY USD in 2031. Asia-Pacific is expected to be the leading region in this market. Key metrics include rising demand for LED manufacture, increased utilisation in lithium-ion batteries, and expanding applications in semiconductor substrates. The HPA market is increasing rapidly, owing to the expanding electronics sector and the shift towards energy-efficient lighting options. The growing use of HPA in smartphones, electric vehicles, and renewable energy storage systems is driving market growth. Furthermore, the material's distinctive features, such as high thermal conductivity and superior electrical insulation, are propelling its employment in a variety of high-tech applications.

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Market Trends:

The high purity alumina industry is seeing a considerable increase in the use of HPA as a coating material for lithium-ion battery separators. The rising electric vehicle (EV) sector and the developing portable electronics industry are driving this application forward. Stringent safety rules in the automobile sector, as well as the demand for longer-lasting, more efficient batteries in consumer electronics, have fuelled this trend. Major battery manufacturers are including HPA-coated separators into their designs, creating a rise in demand. This tendency is projected to continue as the EV market expands, with forecasts predicting that EVs will account for up to 30% of worldwide car sales by 2030.

Market Segmentation:

The 4N (99.99% purity) segment dominates the High Purity Alumina market, owing to its widespread application in the fabrication of LED sapphire substrates and semiconductor wafers. This purity grade provides the best blend of performance and cost-effectiveness, making it the preferred option for many high-tech applications. According to the global study, the LED market will be worth $YY billion by 2024, rising at a CAGR of 12.5% between 2024 and 2031. The worldwide semiconductor market is expected to approach $600 billion by 2025, creating significant opportunities for 4N HPA vendors.

Market Key Players:

The HPA market is highly competitive, with major players focusing on technological innovation and strategic alliances. Key companies such as Sumitomo Chemical Co., Ltd., Sasol Limited, Baikowski SAS, Nippon Light Metal Holdings Company, Ltd., Altech Chemicals Limited, Polar Sapphire Ltd., Hebei Heng Bo New Material Technology Co., Ltd., Zibo Honghe Chemical Co., Ltd., Xuan Cheng Jing Rui New Material Co., Ltd., and Orbite Technologies Inc. dominate the market.

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[marketsndata]

Global Ceiling Tile Market Size, Share and Forecast 2032

Global ceiling tile market is projected to witness a CAGR of 7.28% during the forecast period 2025-2032, growing from USD 9.15 billion in 2024 to USD 16.05 billion in 2032. The global ceiling tile market is poised for sustained expansion, driven by accelerating construction activity, rapid urbanization, and a growing preference for energy-efficient and visually appealing interior solutions. Ceiling tiles are one of the important building products used in contemporary construction, offering multifaceted benefits such as superior acoustic performance, advanced thermal insulation, and enhanced design adaptability. The emphasis on sustainable and environmentally friendly building practices further drives the ceiling tiles market, as they contribute to energy-efficiency requirements that align with stringent environmental regulations. North America and Europe are the leading regions of the ceiling tiles market, benefiting from rigorous quality standards, rapid urban development, and huge investments in infrastructure. The ceiling tiles market continues to grow amid strong capital expenditure in commercial and residential sectors worldwide. Continuous innovation defines the competitive landscape, with major manufacturers focused on advanced material science, leveraging mineral fiber, gypsum, and metal composites to cater to a wide range of end-users for commercial, residential, and industrial sectors. The leading players in the ceiling tiles market are aiming for strategic acquisitions to develop innovative solutions and maintain a competitive advantage. Additionally, mergers and acquisitions are utilized as tools to expand product portfolios, integrate the latest technologies, and enhance manufacturing capabilities.

For instance, in April 2024, the Competition Council approved Kingspan’s Group acquisition of TreeTops Holding ApS. The approval comes after Kingspan has provided binding commitments to divest TreeTops’ business in wood wool ceiling tiles. Kingspan already owns Troldtekt, which holds a significant market share in selling wood wool ceiling tiles.

Rapid Construction Boost Ceiling Tiles Market Growth

The growing construction for real estate is a primary driver of growth for the building products market, significantly driving the ceiling tiles market. Growing construction of real estate, encompassing the development of buildings, modification, and renovation, is a fundamental factor shaping market demand. This robust growth indicates sustained demand for high-performance ceiling solutions driven by modernization across residential, commercial, and industrial properties. The increasing development of luxury apartments and iconic skyscrapers, especially in emerging economies, has produced significant demand for premium ceiling tiles.

For instance, in 2023, based on Oxford Economics, a UK-based global economic forecasting authority, construction output is predicted to grow by 2030 at 3.9%, surpassing the growth of global GDP by more than a percentage point due to the effects of developed countries’ reviving from economic instability, and further industrialization in developing countries’ economies that will augment the growth by 2030 with considerable contributions from key markets.

Increasing Demand for Sustainable Buildings is Powering the Ceiling Tile Market

The increasing demand for energy-efficient buildings will propel the growth of the ceiling tile market in the foreseeable future. Energy-efficient buildings are designed, constructed, and managed to reduce energy consumption while maintaining peak operating efficiency and user comfort. Ceiling tiles play an essential part in energy-efficient buildings by offering a diversity of benefits in terms of insulation, noise absorption, and thermal energy storage, which lead to lower consumption of energy and, hence, greater efficiency. Continued investment in an energy-conscious approach to building towards sustainable construction practices by ceiling tile companies is leading to greater energy-conscious products for building construction and thus driving the need for more advanced ceiling tiles.

For instance, in December 2023, Armstrong World Industries, Inc., a leader in the design, innovation, and manufacture of ceiling and wall solutions, announced the launch of new, innovative ceiling tiles that can reduce energy usage in commercial buildings. The new Ultima Templok solution features AWI mineral fiber ceiling panels with integrated phase change material (PCM) that can reduce building energy costs and consumption while enhancing thermal comfort.

Residential Construction Dominates the Ceiling Tiles Market

Residential construction dominates the ceiling tiles market, driven by sustained investments in high-quality, energy-efficient housing. This segment benefits from increasing demand for high-performance, aesthetically refined ceiling solutions that offer acoustics, thermal insulation, and energy efficiency. As urbanization expands and consumer preferences shift towards sustainable living, the demand for innovative, eco-friendly ceiling tiles in residential spaces—ranging from luxury apartments to modern single-family homes—continues to surge. Thus, companies are launching new product lines in the market.

For instance, in October 2024, OWA [UK] Limited updated its range of acoustic mineral ceiling tiles to offer customers even better value for money and shorter lead times. Brillianto A product will now be available as a lower-cost 14mm, thick smooth white fleece-covered acoustic ceiling tile. The resized mineral ceiling tile will perform to the same high standard as the previous 15mm variety, with Brillianto A offering class A sound absorption for use in noisy spaces such as classrooms, corridors, and homes.

North America Attains the Highest Market Share

North America is one of the leading markets for ceiling tiles, because of its well-established construction sector and strict regulatory frameworks. They have a strong demand for high-quality and energy-efficient solutions. The U.S. and Canada lead the market in North America, supported by continuous investment in new construction and renovation projects throughout the commercial, residential, and institutional sectors. The region’s growing emphasis on sustainability and adherence to strict environmental standards intensify the demand for high-end ceiling tiles, especially superior acoustic, insulation, and durable ones. Moreover, North America’s strong manufacturing ability and innovation-fueled environment also solidify its leading market position and steady growth trajectory.

The increasing volume of privately owned housing in new construction projects further expands the demand for ceiling tiles, as homeowners seek high-quality, aesthetically pleasing, and energy-efficient ceiling solutions.

For instance, according to the US government census, in August 2024, privately owned housing construction projects stood at a seasonally adjusted annual rate of 1,356,000. This is 9.6 percent above the revised July estimate of 1,237,000 and 3.9 percent above the August 2023 rate of 1,305,000, which shows the rising trends in new housing constructionhis upward trajectory reflects increasing demand for homes due to rapid urbanization, signaling a robust recovery in the housing market for the construction of new projects, driving the global ceiling tile market growth.

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Future Market Scenario (2025 – 2032F)

The ceiling tiles market is projected to experience robust growth, driven by increasing commercial construction activities and a rising focus on aesthetic and functional interior design.

As sustainability becomes a priority in construction, the adoption of eco-friendly ceiling tiles made from recyclable materials is anticipated to rise.

Emerging economies, including Asia-Pacific, the Middle East, and Africa, are expected to witness significant growth in the ceiling tiles market due to rapid urbanization and infrastructure development.

Continuous advancements in manufacturing technologies will enhance the performance characteristics of ceiling tiles, such as improved acoustic insulation, fire resistance, and moisture control.

Report Scope

“Global Ceiling Tile Market Assessment, Opportunities and Forecast, 2018-2032F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global ceiling tile market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2025 and 2032. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Click here for full report- https://www.marketsandata.com/industry-reports/ceiling-tile-market

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[trendsofmarket]

Analysis of Polymer Solar Cell Market Future Demand, Progress Insight, Key Regions, Prominent Players

Research Nester assesses the growth and market size of the global polymer solar cell market which is anticipated to be on account of the increasing demand for renewable energy sources.

Research Nester’s recent market research analysis on “Polymer Solar Cell Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitor’s analysis and a detailed overview of the global polymer solar cell market in terms of market segmentation by junction type, application, technique, and by region.

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Growing Integration of Graphene to Promote Global Market Share of Polymer Solar Cell

 The global polymer solar cell market is estimated to grow majorly on account of the widespread adoption of graphene-based materials in polymer solar cells. Graphene-based materials have been widely exploited due to their remarkable electrical, optical, mechanical, and thermal properties for innovative energy conversion and storage devices such as supercapacitors, fuel cells, batteries, and solar cells. Graphene materials are very appealing to polymer solar cells due to their excellent transparency, conductivity, flexibility, and abundance. Additionally, graphene-based solar cells have recently seen a 20% drop in solar ray reflectance, suggesting a 20% increase in theoretical efficiency. The market is expanding at an accelerated rate since several graphene-based solar cell variations are now being investigated.

Some of the major growth factors and challenges that are associated with the growth of the global polymer solar cell market are:

Growth Drivers:

Expansion of the electricity generation industry

Increased efficiency in organic photovoltaic cells

Challenges:

The best plastic devices have an efficiency of little more than 8%, whereas silicon solar panels can achieve up to 18%, which is one of the biggest disadvantages of using polymer photovoltaics. Furthermore, its ability to harvest solar radiation and convert it into electrical power has substantially improved. Moreover, silicon has no known toxicity and is stable, limiting the broad use of polymer solar cells. 

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By junction type, the global polymer solar cells market is segmented into single layer, bilayer, bulk heterojunction, and multi-junction. The single layer segment is set to garner the highest revenue by the end of 2037 by growing at a significant CAGR over the forecast period.  The cost and ease of use of this segment are the primary advantages it offers. Single-layer polymer solar cells are easier to make and involve fewer components and processing steps than more complex designs like bilayer, bulk heterojunction, and multi-junction cells. The use of single-layer cells has expanded due to their greater scalability and lower production costs.

Additionally, single-junction OSCs, which employ a single layer as the active layer, have recently been able to achieve a power conversion efficiency (PCE) of more than 18% by using bulk heterojunction (BHJ) photoactive layers made of wide-band-gap polymer donors (PDs) and narrow-band-gap small-molecule acceptors (SMAs).

By region, the Europe polymer solar cells market is to generate the highest revenue by the end of 2037. Europe was one of the biggest markets for solar PV technology, with installations of over 225.47 GW of solar power as of 2022, up from 109.98 GW in 2017. The region is working on several research initiatives to develop more flexible, less expensive solar panels that can be mounted on a variety of surfaces as a result of technology breakthroughs.

This report also provides the existing competitive scenario of some of the key players which includes, InfinityPV, Epishine, Merck Group, Heliatek GmbH, NanoFlex Power Corporation, Brite Hellas S.A., Tata Power Solar Systems Limited, Pionis Energy Technologies LLC, JinkoSolar Holding Co., Ltd., Trina Solar Limited, and others.

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The global insulation market is projected to grow from USD 61,365 million in 2024 to USD 103,094 million by 2032, representing a compound annual growth rate (CAGR) of 6.7%. The global insulation market has grown significantly in recent years, driven by increasing demand for energy efficiency, sustainability, and the ongoing expansion of construction and industrial sectors. Insulation plays a pivotal role in minimizing energy consumption, reducing greenhouse gas emissions, and enhancing the thermal comfort of buildings and industrial systems. This article delves into the current trends, key market drivers, challenges, and future opportunities shaping the insulation industry.

Browse the full report at https://www.credenceresearch.com/report/insulation-market

Market Overview and Size

As of 2024, the global insulation market is valued at over $60 billion, with projections indicating a compound annual growth rate (CAGR) of around 5% through 2030. The market's growth is primarily attributed to the rising adoption of energy-efficient solutions in residential, commercial, and industrial sectors. The demand for insulation materials such as fiberglass, mineral wool, polyurethane foam, and expanded polystyrene (EPS) has surged due to their effectiveness in thermal and acoustic insulation.

Key Market Drivers

Growing Focus on Energy Efficiency and Sustainability Governments and regulatory bodies worldwide are implementing stringent building codes and energy efficiency standards, pushing for the adoption of high-performance insulation materials. For example, policies like the European Union’s Energy Performance of Buildings Directive (EPBD) and the U.S. Department of Energy's energy codes promote the use of advanced insulation to achieve net-zero energy buildings.

Urbanization and Infrastructure Development Rapid urbanization in developing regions, particularly in Asia-Pacific and the Middle East, is fueling the demand for residential and commercial spaces. This growth drives the need for thermal insulation to enhance energy efficiency in new constructions and retrofitting projects.

Industrial Growth and Temperature Management Industrial processes often require temperature regulation to ensure efficiency and safety. Industries such as petrochemicals, food and beverages, and manufacturing are significant consumers of insulation materials, particularly in cold storage and high-temperature systems.

Climate Change Awareness With climate change becoming a pressing global issue, the insulation market is witnessing an increased focus on reducing carbon footprints. Insulation helps minimize heating and cooling loads, resulting in lower energy consumption and greenhouse gas emissions.

Insulation Types and Applications

Residential and Commercial Buildings Insulation in buildings includes wall, roof, floor, and HVAC insulation to reduce energy loss and improve comfort. Fiberglass and foam-based insulation materials dominate this segment due to their affordability and efficiency.

Industrial Applications High-temperature insulation materials, such as ceramic fibers and mineral wool, are essential in industries requiring thermal resistance for equipment and piping systems.

Acoustic Insulation With rising demand for noise reduction in urban areas and workplaces, acoustic insulation is becoming increasingly important. Materials like rock wool and foam are widely used for their sound-dampening properties.

Challenges Facing the Insulation Market

High Costs of Advanced Materials While traditional materials like fiberglass and EPS are cost-effective, newer, high-performance materials like aerogels are significantly more expensive, limiting their adoption.

Health and Environmental Concerns Certain insulation materials, such as fiberglass and polyurethane foam, have raised concerns over health risks and environmental impact during production and disposal.

Lack of Awareness in Emerging Markets Despite their long-term benefits, insulation adoption in some developing regions remains low due to limited awareness and lack of skilled labor.

Future Outlook

The insulation market is poised for robust growth, driven by technological advancements, government incentives, and increasing awareness of energy efficiency. Innovations in eco-friendly and recyclable materials, such as cellulose insulation and bio-based foams, are expected to reshape the industry. Moreover, smart insulation systems integrated with IoT technology could further enhance energy management and thermal regulation.

Key Player Analysis:

Owens Corning

Knauf Insulation

Saint-Gobain S.A.

Kingspan Group

Rockwool International A/S

BASF SE

Johns Manville Corporation (Berkshire Hathaway)

Dow Inc.

Armacell International S.A.

Huntsman Corporation

Segmentations:

By Product

EPS

XPS

Polyurethane

Polyurethane Foam

Polyvinyl Chloride

Cellulose

Glass Wool

Mineral Wool

Aerogel

Calcium Silicate

Others

By End User

Infrastructure

Construction

Industrial

HVAC

Transportation

Appliances

OEM

Others

By Distribution Channel

Online

Offline

By Geography

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

South-east Asia

Rest of Asia Pacific

Latin America

Brazil

Argentina

Rest of Latin America

Middle East & Africa

GCC Countries

South Africa

Rest of the Middle East and Africa

Browse the full report at https://www.credenceresearch.com/report/insulation-market

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Phase Change Materials Market Key Drivers and Emerging Applications

Phase Change Materials Market Growth Strategic Market Overview and Growth Projections

The global advanced phase change materials market was estimated to be worth USD 1.78 billion in 2021, and it is expected to reach USD 7.601 billion by 2030, expanding at a CAGR of 17.48% percent from 2021 to 2030.

The latest Global Phase Change Materials Market by straits research provides an in-depth analysis of the Phase Change Materials Market, including its future growth potential and key factors influencing its trajectory. This comprehensive report explores crucial elements driving market expansion, current challenges, competitive landscapes, and emerging opportunities. It delves into significant trends, competitive strategies, and the role of key industry players shaping the global Phase Change Materials Market. Additionally, it provides insight into the regulatory environment, market dynamics, and regional performance, offering a holistic view of the global market’s landscape through 2032.

Competitive Landscape

Some of the prominent key players operating in the Phase Change Materials Market are 

Axiotherm GmbH

Croda Europe Ltd.

Global Energy Systems Europe BV

Hangzhou Ruhr New Material Technology Co., Ltd. (‘RuhrTech’)

Microtek Laboratories, Inc.

PCM Technology

Outlast Technologies

PLUSS Advanced Technologies Pvt. Ltd.

Phase change product Pvt. Ltd.

PureTemp LLC

Rubitherm technologies gmbh

Sasol Germany GmbH

BASF SE

Others

Get Free Request Sample Report @ https://straitsresearch.com/report/phase-change-materials-market/request-sample

The Phase Change Materials Market Research report delivers comprehensive annual revenue forecasts alongside detailed analysis of sales growth within the market. These projections, developed by seasoned analysts, are grounded in a deep exploration of the latest industry trends. The forecasts offer valuable insights for investors, highlighting key growth opportunities and industry potential. Additionally, the report provides a concise dashboard overview of leading organizations, showcasing their effective marketing strategies, market share, and the most recent advancements in both historical and current market landscapes.Global Phase Change Materials Market: Segmentation

The Phase Change Materials Market segmentation divides the market into multiple sub-segments based on product type, application, and geographical region. This segmentation approach enables more precise regional and country-level forecasts, providing deeper insights into market dynamics and potential growth opportunities within each segment.

By Type

Organic PCM

Inorganic PCM

Bio-Based PCM

By Form

Encapsulated

Non-Encapsulated

By Application

Building and Construction

HVAC

Textiles

Electronics

Cold Chain & Packaging

Thermal Energy Storage

Others

Stay ahead of the competition with our in-depth analysis of the market trends!

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Market Highlights:

A company's revenue and the applications market are used by market analysts, data analysts, and others in connected industries to assess product values and regional markets.

But not limited to: reports from corporations, international Organization, and governments; market surveys; relevant industry news.

Examining historical market patterns, making predictions for the year 2022, as well as looking forward to 2032, using CAGRs (compound annual growth rates)

Historical and anticipated data on demand, application, pricing, and market share by country are all included in the study, which focuses on major markets such the United States, Europe, and China.

Apart from that, it sheds light on the primary market forces at work as well as the obstacles, opportunities, and threats that suppliers face. In addition, the worldwide market's leading players are profiled, together with their respective market shares.

Goals of the Study

What is the overall size and scope of the Phase Change Materials Market market?

What are the key trends currently influencing the market landscape?

Who are the primary competitors operating within the Phase Change Materials Market market?

What are the potential growth opportunities for companies in this market?

What are the major challenges or obstacles the market is currently facing?

What demographic segments are primarily targeted in the Phase Change Materials Market market?

What are the prevailing consumer preferences and behaviors within this market?

What are the key market segments, and how do they contribute to the overall market share?

What are the future growth projections for the Phase Change Materials Market market over the next several years?

How do regulatory and legal frameworks influence the market?

About Straits Research

Straits Research is dedicated to providing businesses with the highest quality market research services. With a team of experienced researchers and analysts, we strive to deliver insightful and actionable data that helps our clients make informed decisions about their industry and market. Our customized approach allows us to tailor our research to each client's specific needs and goals, ensuring that they receive the most relevant and valuable insights.

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Industrial Insulation Market Anticipated To Accelerate The Growth By 2030

Industrial Insulation Market Overview

The global industrial insulation market size is expected to reach USD 12.10 billion by 2030, expanding at a compound annual growth rate (CAGR) of 5.0%, according to a new report by Grand View Research, Inc. The increasing demand for adequate thermal insulation for industrial equipment for energy-efficient operations, and economical design, is expected to drive the market during the forecast period.

The raw materials used for the production of various industrial insulation products are available in abundance, which benefits the industry. However, some of the feedstock used for insulation production is derived from petrochemicals, so fluctuations in the price of crude oil result in changes in the procurement cost of the feedstock, limiting the bargaining power of insulation manufacturers.

Gather more insights about the market drivers, restrains and growth of the Industrial Insulation Market

The industry is under high scrutiny from government environmental agencies, including EPA, REACH, and NGT. These agencies have imposed stringent regulations on the production, storage, and transportation of insulation materials. Government support to develop sustainable manufacturing practices is expected to hamper the market growth.

Major players, such as Rockwool Technical Insulation, Paroc Group, and Knauf Gips KG, hold most market share due to their vast product portfolio and wider geographical reach. These companies develop a powerful business model to adapt to the market volatility and any technological & geographical change.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

The global green steel market size was estimated at USD 718.30 billion in 2024 and is projected to grow at a CAGR of 6.0% from 2025 to 2030.

The global flooring adhesive market size was estimated at USD 5.64 billion in 2024 and is projected to grow at a CAGR of 9.3% from 2025 to 2030.

Industrial Insulation Market Segmentation

Grand View Research has segmented the global industrial insulation market based on material, product, application and region:

Industrial Insulation Material Outlook (Volume, Kilotons; Revenue, USD Billion; 2018 - 2030)

Stone Wool

Elastomeric Foam

Micro Silica

Glass Wool

Composites

CMS Fibers

Calcium Silicate

Cellular Glass

Foamed Plastic

Perlite

Aerogel

Cellulose

Others

Industrial Insulation Product Outlook (Volume, Kilotons; Revenue, USD Billion; 2018 - 2030)

Pipe

Board

Blanket

Others

Industrial Insulation Application Type Outlook (Volume, Kilotons; Revenue, USD Billion; 2018 - 2030)

Power Generation

Petrochemical & Refineries

EIP Industries

LNG/LPG

Others

Industrial Insulation Regional Outlook (Volume, Kilotons; Revenue; USD Billion; 2018 - 2030)

North America

US

Canada

Mexico

Europe

Germany

UK

France

Poland

Spain

Italy

Benelux

Nordic

CIS

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Thailand

Vietnam

Central & South America

Brazil

Argentina

Colombia

Middle East & Africa

GCC

Turkey

Key Companies profiled:

Rockwool Insulation A/S

Poroc Group Oy

Knauf Insulation

TechnoNICOL Corporation

Anco Products, Inc.

Aspen Aerogels, Inc.

Cabot Corporation

Morgan Advanced Materials plc

Unifrax LLC

RATH Group

IBIDEN Co., Ltd.

Armacell International

Order a free sample PDF of the Industrial Insulation Market Intelligence Study, published by Grand View Research.