The global salt hydrate market is segmented by end-user industries into pharmaceutical, building & construction, food & beverages, electronics and others; by salt types into copper salt and table salt and by regions. Salt Hydrate Market is anticipated to mask a CAGR of 9.2% during the forecast period i.e. 2018-2027.
Currently the global salt hydrate market is observing a vibrant growth owing to an increasing demand of in-built residences and offices with cooling systems on account of increasing global warming. Advancements in pharmaceutical industry in the past few years and growing healthcare explorations is projected to drive salt hydrate market besides the wide range of functions of salt hydrate in an immense range of products such as medicines, PCM solutions, thermo-regulators and more during the forecast period.
As a precursor to refrigeration in pharmaceutical industry, North America is panned to observe a substantial growth of salt hydrate market due to rising salt hydrate usage as a phase change material. North America is estimated to be followed by Asia Pacific in terms of consumption due to expanding requirements of salt hydrate in building and construction industries. Europe is expected to drive demand and positively impact salt hydrate market growth over the forecast period owing to increasing salt hydrate application for storing and phase changing process.
Growing Applications due to increase in Climatic Temperature
Increasing emission of carbon dioxide and rising fossil fuel consumption, sensible heat and latent heat storage has gained significant attention that is predicted to propel the salt hydrates market sturdily. The usage of PCMs in industrial waste heat utilization, aerospace field, electric peak-shaving and more is anticipated to contribute significantly in the salt hydrate market expansion over the forecast period.
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Easy Availability at Rational Prices
Properties of salt hydrates such as high energy storage density, relatively good thermal conductivity with multiple source availability at comparatively rational prices are estimated to drive the salt hydrates market sturdily in various end-user industries.
However, corrosion of salt hydrates with mild metals leading to severe safety risks in building along with enthalpy decreasing caused by operational thermal cycling may lead to slower adoption of salt hydrates by small industrial manufacturers leading to slower growth of the salt hydrate market across the developing regions over the forecast period.
The report titled “Global Salt Hydrate Market: Global Demand Analysis & Opportunity Outlook 2027″ delivers detailed overview of the global Salt Hydrate market in terms of market segmentation by salt types, by end-user industries and by regions.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global Salt Hydrate market which includes company profiling of BASF, Dow Building Solutions, E.I. du Pont de Nemours & Company, Phase Change Products Pty Ltd, Rubitherm Technologies GmbH, Salca BV, PCM Products Ltd., Honeywell International, Rubitherm Technologies GmbH and RGEES, LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Salt Hydrate market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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