Europe is expected to dominate the market at the end of the forecast period owing to the most significant market for phase change material in terms of both value and volume in 2021. The growth of the region’s total phase change material market is being driven primarily by demand from the building and construction applications, as well as tight government regulations on carbon emissions. Government initiatives to develop green buildings supported market growth since phase change material helps save carbon credits granted to each project. The cost of energy is likewise high in Europe, which boosts demand for phase change material in the area.
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