Spaceflight Inorganic Phase Change Materials Market - Forecast(2023 - 2028)
Spaceflight Inorganic Phase Change Materials Market Overview
The global spaceflight inorganic phase change
materials market size is forecasted to reach US$352.1 million by the end of 2027 after growing at a CAGR of around 11.2% from 2022
to 2027. The spaceflight inorganic phase change materials are thermal interface
materials that are used for thermal control during the spacecraft
transportation and maintenance of the
temperature inside the spacecraft. The inorganic phase change materials such as
salt hydrate, nitrates, metallic alloys, and others play a vital role in the phase
transition and energy storage. The spaceflight inorganic phase change materials
have growing application role in the spacecraft thermal control systems, heat sinks,
and others, which is offering a major drive in the global spaceflight inorganic
phase change materials market. Furthermore, the increase in development for
space exploration and satellite launch projects will offer major growth in the
market during the forecast period.
COVID-19 Impact
The global
spaceflight inorganic phase change materials industry was majorly impacted
during the covid-19 pandemic. The spaceflight inorganic phase change materials
have major application in the aerospace and space industry for heat sinks,
spacecraft thermal control systems, and others. The restricted growth
opportunities and halt in space exploration activities created a fall in demand
in the market. The disruptions in the spacecraft operations, changes in demand
and supply trend in the aerospace sector, workforce shortages, and other
lockdown restrictions affected the growth in the market. Furthermore, the
production for aircrafts, spacecrafts, and other components saw a major fall.
According to the International Air Transport Association (IATA), the airlines loss
US$ 84.3 billion and saw a fall of 20.1% in the net profit margin in 2020. The
fall in growth of aerospace sector led to a decline in the spaceflight
inorganic phase change materials market. Thus, the global spaceflight inorganic
phase change materials industry experience a slowdown during the peak covid
outbreak phase.
Report Coverage
The “Spaceflight Inorganic
Phase Change Materials Market Report– Forecast (2022-2027)” by IndustryARC
covers an in-depth analysis of the following segments of the global spaceflight
inorganic phase change materials industry.
By Encapsulation Technique: Microencapsulation,
Macroencapsulation, and Others
By Material: Salt Hydrates, Nitrates,
Metallic Alloys, and Others
By
Application: Spacecraft
Thermal Control Systems, Heat Pipes, Onboard Power Generation, Nano Satellites,
Spacesuits, and Others
By End Use Industry: Aerospace, Spacecraft Manufacturing Industry, Satellite
Launch Industry, and Others
By
Geography: North America (USA, Canada, and Mexico),
Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and
Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and
New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America
(Brazil, Argentina, Colombia, Chile, and Rest of South America), Middle East
(Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa,
Nigeria, Rest of Africa)
Key Takeaways
- The
global spaceflight inorganic phase change materials market size will increase owing
to its major demand in
spacecraft, onboard power generation, thermal control systems in spacecrafts,
and others in major end-use industries during the forecast period.
- The Asia Pacific is the fastest growing region in the global spaceflight inorganic phase change materials market owing to the flourishing space exploration, spacecraft products, satellite launch missions, and others, thereby boosting the demand of spaceflight inorganic phase change materials.
- The demand of spaceflight inorganic phase change materials for spacecraft thermal control systems owing to high energy storage, temperature control, and efficiency.
Figure: Asia Pacific Spaceflight Inorganic Phase Change Materials Market Revenue, 2021-2027 (US$ Billion)
Spaceflight Inorganic Phase Change Materials Market Segment Analysis – By Application
By application, the spacecraft thermal control systems is the fastest growing segment and is expected to grow with a CAGR of around 12.7% during the forecast period. The demand of spaceflight inorganic phase change materials for spacecraft thermal control systems is growing. The spaceflight inorganic phase change materials store thermal energy as latent heat fusion and phase transition. The salt hydrate inorganic phase change material is widely used in the spacecraft sector for thermal control systems and transportation application, thereby offering temperature control, precise humidity control, and efficiency in the spaceflight. According to the Space Foundation, the space foundation report 2021 stated the increase in global space economy to USD 447 billion in 2020, an increase of 4.4% from the year 2019. The growth in spacecraft manufacturing sector and high demand of spaceflight phase change materials for thermal control application is boosting the growth in the market. Thus, the global spaceflight inorganic phase change material industry will grow rapidly during the forecast period.
Spaceflight Inorganic Phase Change Materials Market Segment Analysis – By End-Use Industry
By end-use industry, the spacecraft manufacturing segment held the largest global spaceflight inorganic phase change materials market share in 2021, with a share of over 40%. The spaceflight inorganic phase change materials or the thermal interface materials have growing application in this sector for heat sinks, heat pipes, thermal control systems, and others. The use of inorganic PCM material as coating in spacecraft, rocket, satellites, and others is growing owing to excellent properties of inorganic PCMs such as high latent heat value, low cost, and non-flammable compare to organic or eutectics. Furthermore, the growing spacecraft productions and exploration missions is influencing major growth in the spaceflight inorganic phase change materials industry. According to the U.S Chamber of Commerce, the space economy will reach USD 1 trillion by the year 2040. Thus, with major demand of inorganic phase change materials and wide range of applications in the spacecraft manufacturing sector, the global spaceflight inorganic phase change materials market will grow during the forecast period.
Spaceflight Inorganic Phase Change Materials Market Segment Analysis – By Geography
By geography, the Asia Pacific is the fastest-growing region in the global spaceflight inorganic phase change materials market and is expected to grow with a CAGR of around 14% during the forecast period. The growth of spaceflight inorganic phase change materials in this region is influenced by the rising demand from space exploration, spacecraft manufacturing, aerospace, and other sectors. The rise in space exploration and satellite launch is boosting the demand for spaceflight inorganic phase change materials owing to growing usage in thermal control systems, heat sinks, heat pipes, onboard power generation, and others. Furthermore, rise in space investment for satellite manufacturing, spaceflight components, and others in APAC is driving the market. For instance, the China Aerospace Science and Technology Corporation (CASC) planned for 50 space launches and around 140 spacecraft into the space by 2022 in China. The high demand of spaceflight inorganic phase change materials for thermal control, heat sinks, and others in spacecrafts will thereby offer growth in the market. Thus, the global spaceflight inorganic phase change materials industry will grow rapidly during the forecast period.
Spaceflight Inorganic Phase Change Materials Market Drivers
Increasing space exploration and satellite launch projects
The rise in satellite launch and space exploration programs has boosted the growth opportunities for the global spaceflight inorganic phase change materials market. The space flight inorganic phase change materials such as salt hydrate, nitrates, metallic alloy, and others are used in thermal control systems, heat sinks, satellite launch, and others. For instance, the Indian Space Research Organization (ISRO) has planned various missions such as Gangayan 1 with expected launch date in June 2022, NISAR, which launches SAR Satellite is expected to launch in January 2023. Thus, the growing space exploration and satellite launch projects across the globe is driving the global spaceflight phase change materials industry and offering major growth in the market.
Growing application in the aerospace sector
The demand of spaceflight
inorganic phase change materials in the aerospace industry is rising. The
inorganic phase chase materials are used in the aircrafts, heat sinks, and
others. The inorganic salts have major demand in the thermal energy storage
systems in the aerospace sector. According to the World Bank data, the global
air transportation sector accounted for US$ 1.81 billion in 2020. The increase
in production of aircrafts, spacecrafts, and other related engineering
components in aerospace is driving the market and providing growth in the
global spaceflight inorganic phase change materials market.
Spaceflight Inorganic Phase Change Materials Market Challenges
Instability, corrosiveness, and super cool tendency of inorganic PCMs
The inorganic phase change material for
spaceflight has high demand in the market. However, the disadvantages of
inorganic PCMs such as corrosiveness, super cool tendency, instability, and
improper re-solidification are leading to a challenge in the application of
PCMs such as salt hydrate. The salt hydrates have complications such as
segregation, super cooling due to poor nucleating feature, phase separation
over repetitive phase change cycles, and high volume changes. This is hampering
the application of inorganic phase change materials in the thermal energy
storage systems in spaceflights. Thus, these complications in inorganic PCMs is
limiting the application in spacecraft and hampering growth in the market.
Spaceflight Inorganic Phase Change Materials Industry Outlook
The
global spaceflight inorganic phase change materials top 10 companies include:
1. BASF SE
2. Laird Technologies
3. Datum Phase Change
4. Kaplan Energy
5. Dow Corning
6. DuPont
7. Henkel AG
8. Croda International
9. Entropy Solutions LLC
10. Sasol Limited
Relevant Reports
Advanced Phase Change Materials Market - Forecast 2021 - 2026
Report Code: CMR 94289
Phase Change Materials Market - Forecast(2022 - 2027)
Report Code: CMR 0061
Thermal Interface Materials Market - Forecast(2022 - 2027)
Report Code: CMR 0589
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LIST OF TABLES
1.Global Spaceflight Inorganic Phase Change Materials Market, by Type Market 2019-2024 ($M)2.Global Spaceflight Inorganic Phase Change Materials Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Spaceflight Inorganic Phase Change Materials Market, by Type Market 2019-2024 (Volume/Units)
4.Global Spaceflight Inorganic Phase Change Materials Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Spaceflight Inorganic Phase Change Materials Market, by Type Market 2019-2024 ($M)
6.North America Spaceflight Inorganic Phase Change Materials Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Spaceflight Inorganic Phase Change Materials Market, by Type Market 2019-2024 ($M)
8.South America Spaceflight Inorganic Phase Change Materials Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Spaceflight Inorganic Phase Change Materials Market, by Type Market 2019-2024 ($M)
10.Europe Spaceflight Inorganic Phase Change Materials Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Spaceflight Inorganic Phase Change Materials Market, by Type Market 2019-2024 ($M)
12.APAC Spaceflight Inorganic Phase Change Materials Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Spaceflight Inorganic Phase Change Materials Market, by Type Market 2019-2024 ($M)
14.MENA Spaceflight Inorganic Phase Change Materials Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)