Market Trends of Europe Phase Change Material Industry
Building and Construction Industry to Dominate the Market
- Phase change materials have extensive applications in the construction industry for thermal energy storage and regulation, contributing to energy-efficient and sustainable building designs.
- Phase change materials contribute to optimizing heating, ventilation, and air conditioning systems, leading to more efficient energy utilization in buildings.
- The emphasis on sustainable and green building practices in Europe has driven the adoption of phase change materials as part of energy-efficient solutions to meet environmental standards.
- In Europe, according to the European Construction Industry Federation (FIEC), investment in the non-residential buildings construction segment increased by 2.1% in 2022.
- According to the Federal Statistical Office (Destatis), the sales volume of the construction industry in Germany increased by 9.0 % in November 2023.
- Moreover, according to the Office for National Statistics (UK), the Gross value added (GVA) of the construction industry in the United Kingdom was GBP 29.26 billion (USD 37.18 billion) in the 1st quarter of 2021, which then increased to GBP 37.63 billion (USD 47.82 billion) in the 1st quarter of 2023.
- All the above factors are expected to significantly impact the demand for food-grade calcium peroxide during the forecast period.
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Germany to Dominate the Market
- Germany's construction sector is one of the largest economic sectors, with products such as buildings and roads being an essential part of our daily lives.
- According to Statistisches Bundesamt, the revenue of the building construction industry in Germany increased from Euro 36.28 billion (USD 39.20 billion) in 2018 to Euro 42.99 billion (USD 46.45 billion) in 2022.
- According to the Federal Statistical Office (Destatis), the annual average number of construction companies in Germany increased from 8,121 units in 2017 to 9,456 units in 2022.
- The annual average number of active people in the building and construction sector also increased from 4,420 in 2017 to 5,264 in 2022.
- The building permits for the construction of new buildings (residential and non-residential) in Germany was 2,183 number of buildings in January 2022.
- All the aforementioned factors are expected to increase the demand for calcium peroxide in the region during the forecast period.
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