Product Code: AD 2999
The phase change materials market size was USD 729.76 million in 2025 and is projected to reach USD 1,639.71 million by 2030, at a CAGR of 17.58%.
| Scope of the Report |
| Years Considered for the Study | 2020-2030 |
| Base Year | 2024 |
| Forecast Period | 2025-2030 |
| Units Considered | Value (USD Million), Volume (Ton) |
| Segments | Type, Application, and Region |
| Regions covered | Asia Pacific, Europe, North America, Rest of the World |
"Use of phase change materials for temperature control and greater comfort driving market growth"
One of the main factors driving the global phase change material (PCM) market is the use of these materials for temperature control and increased comfort. By absorbing, storing, and releasing heat during phase transitions, PCMs contribute to stable temperatures and provide the best possible thermal comfort in a variety of settings. PCMs are incorporated into walls, ceilings, and flooring in buildings and construction to improve occupant comfort, minimize energy use, and lessen indoor temperature swings. These materials offer better thermal regulation in textiles, car interiors, and packaging, enhancing user experience and product performance. The need for climate-responsive materials and energy-efficient solutions is increasing, and PCMs' contribution to better temperature control and long-term comfort is growing as well. As a result, multiple end-use industries around the world are adopting PCMs.
Thermal energy storage to be third-fastest growing application of phase change materials, in terms of value, during forecast period
The growing demand for effective energy management and the integration of renewable energy sources is propelling the adoption of phase change materials in thermal energy storage applications. In order to balance the supply and demand for energy in residential, commercial, and industrial systems, PCMs are essential for storing excess thermal energy and releasing it when needed. To improve energy efficiency and system dependability, they are being utilized in waste heat recovery systems, district heating systems, and solar power plants. PCMs are a desirable substitute for traditional storage systems due to their capacity to offer steady, long-duration energy storage with negligible losses.
The use of PCM in thermal energy storage applications is also being accelerated by the global trend toward sustainable energy solutions, government incentives for renewable energy projects, and technological developments in material encapsulation and performance optimization.
Demand for eutectic phase change materials driven by their adjustable phase transition range and precise temperature control
Made from a blend of inorganic and organic materials, eutectic PCMs are engineered to reach a precise melting point appropriate for regulated thermal applications. However, compared to organic and inorganic PCMs, their adoption has been limited due to their limited commercial use, high material cost, and higher production complexity. The low adoption of these materials is also due to the difficulties in attaining long-term stability and the requirement for careful formulation. Despite these limitations, eutectic PCMs have benefits like precise temperature control and adjustable phase transition ranges, which make them appropriate for niche uses like medical storage and electronics cooling. Moderate growth in specialized applications needing specialized thermal management is anticipated with sustained R&D efforts.
"Asia Pacific to account for third-largest share of global phase change materials market, in terms of value"
In 2024, Asia Pacific was the third-largest contributor to the global phase change materials (PCM) market. The market in the region is driven by industrialization, accelerated urbanization, and ramped-up investments in energy-saving technologies. The region's widening construction industry, with the major contributions of China, India, Japan, and South Korea, is promoting the use of PCM in building insulation, HVAC systems, and intelligent infrastructure to enhance thermal comfort and save energy. In addition, increasing demand for pharmaceutical, food, and beverage cold chain logistics has further fueled the use of PCM in temperature-controlled packaging and transport. Nevertheless, a lack of awareness, high initial investment, and slower regulatory acceptance relative to developed countries have marginally restricted market penetration. Persistent infrastructure growth, technology improvements, and an increasing emphasis on sustainable energy management are expected to support the development of the PCM market in Asia Pacific.
- By Company Type: Tier 1 - 55%, Tier 2 - 25%, and Tier 3 - 20%
- By Designation: Directors - 50%, Managers - 30%, and Others - 20%
- By Region: North America - 40%, Europe - 35%, Asia Pacific - 18%, and Rest of the World - 7%
The key players profiled in the report include Honeywell International Inc. (US), DuPont de Nemours, Inc. (US), Croda International Plc (UK), Boyd Corporation (US), Sasol Limited (South Africa), Outlast Technologies LLC (US), PureTemp LLC (US), Rubitherm Technologies GmbH (Germany), Phase Change Materials Products Ltd. (UK) Cold Chain Technologies (US), Phase Change Solutions (US), Climator Sweden AB (Sweden), and Microtek Laboratories Inc. (US).
Study Coverage
This report segments the market for phase change materials based on type, application, and region, and provides estimations of value (in USD million) for the overall market size across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, services, and key strategies associated with the phase change materials market.
Reasons to Buy this Report
This research report is focused on various levels of analysis-industry analysis (industry trends), market share analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the phase change materials market; high-growth regions; and market drivers, restraints, and opportunities.
The report provides insights into the following points:
- Market Penetration: Comprehensive information on phase change materials offered by top players in the global market
- Analysis of Key Drivers (Regulations for reduction of greenhouse gas emissions, Use of phase change material for temperature control and greater comfort, Use of phase change material for peak-load shifting, Reduction in operating cost for cold chain and packaging industry), restraints (Lack of awareness for benefits of phase change material, Flammability and corrosiveness restrict the use of PCM, Lack of government subsidies), opportunities (Rise in the need for cold chain logistics, R&D initiatives for enhanced phase change material efficiency, Rising demand for consumer electronics), and challenges (High cost of switching from conventional materials) influencing the growth of phase change materials market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the phase change materials market
- Market Development: Comprehensive information about lucrative emerging markets-the report analyzes the markets for phase change materials across regions.
- Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global phase change materials market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the phase change materials market
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 STUDY OBJECTIVES
- 1.2 MARKET DEFINITION
- 1.3 STUDY SCOPE
- 1.3.1 MARKETS COVERED AND REGIONAL SCOPE
- 1.3.2 PHASE CHANGE MATERIALS MARKET: INCLUSIONS & EXCLUSIONS
- 1.3.3 PHASE CHANGE MATERIALS MARKET: DEFINITION AND INCLUSIONS, BY TYPE
- 1.3.4 PHASE CHANGE MATERIALS MARKET: DEFINITION AND INCLUSIONS, BY APPLICATION
- 1.3.5 YEARS CONSIDERED
- 1.3.6 CURRENCY CONSIDERED
- 1.3.7 UNIT CONSIDERED
- 1.4 STAKEHOLDERS
- 1.5 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH DATA
- 2.1.1 SECONDARY DATA
- 2.1.1.1 Key data from secondary sources
- 2.1.2 PRIMARY DATA
- 2.1.2.1 Key data from primary sources
- 2.1.2.2 Primary Interviews - demand and supply sides
- 2.1.2.3 Key industry insights
- 2.1.2.4 Breakdown of interviews with experts
- 2.2 MARKET SIZE ESTIMATION
- 2.2.1 BOTTOM-UP APPROACH
- 2.2.2 TOP-DOWN APPROACH
- 2.3 DATA TRIANGULATION
- 2.4 GROWTH FORECAST
- 2.4.1 SUPPLY SIDE
- 2.4.2 DEMAND SIDE
- 2.5 RESEARCH ASSUMPTIONS
- 2.6 RESEARCH LIMITATIONS
- 2.7 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PHASE CHANGE MATERIALS MARKET
- 4.2 PHASE CHANGE MATERIALS MARKET, BY REGION
- 4.3 EUROPE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION AND COUNTRY
- 4.4 PHASE CHANGE MATERIALS MARKET, BY APPLICATION
- 4.5 PHASE CHANGE MATERIALS MARKET, BY KEY COUNTRY
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Regulations on reduction of greenhouse gas emissions
- 5.2.1.2 Increasing adoption in temperature control for greater comfort
- 5.2.1.3 Application in peak-load shifting
- 5.2.1.4 Reduction in operating cost for cold chain and packaging industries
- 5.2.2 RESTRAINTS
- 5.2.2.1 Lack of awareness
- 5.2.2.2 Flammability and corrosiveness restricting adoption
- 5.2.2.3 Lack of government subsidies
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Expansion of cold chain logistics
- 5.2.3.2 R&D initiatives for enhanced efficiency
- 5.2.3.3 Rising demand for consumer electronics
- 5.2.4 CHALLENGES
- 5.2.4.1 High cost of switching from conventional materials
- 5.3 PORTER'S FIVE FORCES ANALYSIS
- 5.3.1 THREAT OF NEW ENTRANTS
- 5.3.2 THREAT OF SUBSTITUTES
- 5.3.3 BARGAINING POWER OF SUPPLIERS
- 5.3.4 BARGAINING POWER OF BUYERS
- 5.3.5 INTENSITY OF COMPETITIVE RIVALRY
- 5.4 KEY STAKEHOLDERS AND BUYING CRITERIA
- 5.4.1 KEY STAKEHOLDERS IN BUYING PROCESS
- 5.4.2 BUYING CRITERIA
- 5.5 MACROECONOMIC INDICATORS
- 5.5.1 GDP TRENDS AND FORECAST
6 INDUSTRY TRENDS
- 6.1 SUPPLY CHAIN ANALYSIS
- 6.2 PRICING ANALYSIS
- 6.2.1 AVERAGE SELLING PRICE OF PHASE CHANGE MATERIALS FOR KEY APPLICATIONS, BY KEY PLAYER, 2024
- 6.2.2 AVERAGE SELLING PRICE TREND OF PHASE CHANGE MATERIALS, BY REGION, 2022-2030
- 6.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
- 6.4 ECOSYSTEM ANALYSIS
- 6.5 TECHNOLOGY ANALYSIS
- 6.5.1 KEY TECHNOLOGIES
- 6.5.1.1 Nano-enhanced phase change materials technology
- 6.5.1.2 Active cooling-based battery thermal management using composite phase change materials
- 6.5.2 COMPLEMENTARY TECHNOLOGIES
- 6.5.2.1 Nanoscale switching technology
- 6.6 CASE STUDY ANALYSIS
- 6.6.1 HEATVENTORS - SERVER COOLING USING CRODATHERM
- 6.6.2 CRODATHERM - COLD CHAIN LOGISTICS
- 6.6.3 LAIRD PLC - SMARTPHONE COOLING
- 6.7 TRADE ANALYSIS
- 6.7.1 IMPORT SCENARIO
- 6.7.2 EXPORT SCENARIO
- 6.8 REGULATORY LANDSCAPE
- 6.8.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
- 6.8.2 REGULATORY FRAMEWORK
- 6.8.2.1 ISO 14001 - Environmental Management Systems
- 6.8.2.2 ISO 9001 - Quality Management Systems
- 6.9 KEY CONFERENCES AND EVENTS, 2025-2026
- 6.10 INVESTMENT AND FUNDING SCENARIO
- 6.11 PATENT ANALYSIS
- 6.11.1 APPROACH
- 6.11.2 DOCUMENT TYPE
- 6.11.3 TOP APPLICANTS
- 6.11.4 JURISDICTION ANALYSIS
- 6.12 IMPACT OF 2025 US TARIFF ON PHASE CHANGE MATERIALS MARKET
- 6.12.1 INTRODUCTION
- 6.12.2 KEY TARIFF RATES
- 6.12.3 PRICE IMPACT ANALYSIS
- 6.12.4 IMPACT ON COUNTRIES/REGIONS
- 6.12.4.1 US
- 6.12.4.2 Europe
- 6.12.4.3 Asia Pacific
- 6.12.5 IMPACT ON APPLICATIONS
- 6.13 IMPACT OF AI/GEN AI ON PHASE CHANGE MATERIALS MARKET
7 PHASE CHANGE MATERIALS MARKET, BY TYPE
- 7.1 INTRODUCTION
- 7.2 ORGANIC PCM
- 7.2.1 RISING DEMAND FOR GREEN CONSTRUCTION TO DRIVE MARKET
- 7.3 INORGANIC PCM
- 7.3.1 LARGE-SCALE ENERGY STORAGE TO FUEL GROWTH
- 7.4 EUTECTIC PCM
- 7.4.1 GROWTH IN HEALTHCARE SUPPLY CHAINS TO FUEL EXPANSION
8 PHASE CHANGE MATERIALS MARKET, BY APPLICATION
- 8.1 INTRODUCTION
- 8.2 BUILDING & CONSTRUCTION
- 8.2.1 GROWING FOCUS ON ENERGY-EFFICIENT INFRASTRUCTURE TO DRIVE MARKET
- 8.3 HVAC
- 8.3.1 DEMAND FOR ADVANCED CLIMATE CONTROL SYSTEMS TO BOOST GROWTH
- 8.4 COLD CHAIN & PACKAGING
- 8.4.1 EXPANSION OF TEMPERATURE-SENSITIVE LOGISTICS TO FUEL GROWTH
- 8.5 THERMAL ENERGY STORAGE
- 8.5.1 INCREASING RENEWABLE INTEGRATION TO BOOST DEMAND
- 8.6 REFRIGERATION & EQUIPMENT
- 8.6.1 RISING EFFICIENCY NEEDS IN COOLING SYSTEMS TO FUEL DEMAND
- 8.7 TEXTILES
- 8.7.1 INNOVATION IN SMART TEXTILES TO FUEL GROWTH
- 8.8 ELECTRONICS
- 8.8.1 RISING DEMAND FOR ADVANCED THERMAL MANAGEMENT TO DRIVE MARKET
- 8.9 OTHER APPLICATIONS
9 PHASE CHANGE MATERIALS MARKET, BY REGION
- 9.1 INTRODUCTION
- 9.2 ASIA PACIFIC
- 9.2.1 CHINA
- 9.2.1.1 Growing industrial activities to drive market
- 9.2.2 INDIA
- 9.2.2.1 Rapid industrialization to propel market
- 9.2.3 AUSTRALIA
- 9.2.3.1 Growing focus on sustainable cold chain systems to support market growth
- 9.2.4 SINGAPORE
- 9.2.4.1 Expansion of smart HVAC systems to drive demand
- 9.3 NORTH AMERICA
- 9.3.1 US
- 9.3.1.1 Strong industrial infrastructure to fuel growth
- 9.4 EUROPE
- 9.4.1 GERMANY
- 9.4.1.1 Growing demand for energy-efficient HVAC systems to boost market
- 9.4.2 FRANCE
- 9.4.2.1 Thermal regulation in buildings to fuel growth
- 9.4.3 UK
- 9.4.3.1 Rising demand for advanced electronics thermal management to propel market
- 9.4.4 NETHERLANDS
- 9.4.4.1 Growth in cold chain logistics and refrigerated transport to drive demand
- 9.5 REST OF THE WORLD
10 COMPETITIVE LANDSCAPE
- 10.1 INTRODUCTION
- 10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
- 10.3 MARKET SHARE ANALYSIS, 2024
- 10.4 REVENUE ANALYSIS, 2020-2024
- 10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2024
- 10.5.1 STARS
- 10.5.2 EMERGING LEADERS
- 10.5.3 PERVASIVE PLAYERS
- 10.5.4 PARTICIPANTS
- 10.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2024
- 10.5.5.1 Company footprint
- 10.5.5.2 Region footprint
- 10.5.5.3 Type footprint
- 10.5.5.4 Application footprint
- 10.6 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2024
- 10.6.1 PROGRESSIVE COMPANIES
- 10.6.2 RESPONSIVE COMPANIES
- 10.6.3 DYNAMIC COMPANIES
- 10.6.4 STARTING BLOCKS
- 10.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2024
- 10.6.5.1 Detailed list of key startups/SMEs
- 10.6.5.2 Competitive benchmarking of key startups/SMEs
- 10.7 BRAND/PRODUCT COMPARISON
- 10.8 COMPANY VALUATION AND FINANCIAL METRICS
- 10.9 COMPETITIVE SCENARIO
- 10.9.1 DEALS
- 10.9.2 EXPANSIONS
11 COMPANY PROFILES
- 11.1 MAJOR PLAYERS
- 11.1.1 HONEYWELL INTERNATIONAL INC.
- 11.1.1.1 Business overview
- 11.1.1.2 Products/Solutions/Services offered
- 11.1.1.3 MnM View
- 11.1.1.3.1 Right to win
- 11.1.1.3.2 Strategic choices
- 11.1.1.3.3 Weaknesses and competitive threats
- 11.1.2 DUPONT DE NEMOURS, INC.
- 11.1.2.1 Business overview
- 11.1.2.2 Products/Solutions/Services offered
- 11.1.2.3 Recent developments
- 11.1.2.4 MnM View
- 11.1.2.4.1 Right to win
- 11.1.2.4.2 Strategic choices
- 11.1.2.4.3 Weaknesses and competitive threats
- 11.1.3 CRODA INTERNATIONAL PLC.
- 11.1.3.1 Business overview
- 11.1.3.2 Products/Solutions/Services offered
- 11.1.3.3 MnM view
- 11.1.3.3.1 Right to win
- 11.1.3.3.2 Strategic choices
- 11.1.3.3.3 Weaknesses and competitive threats
- 11.1.4 BOYD CORPORATION
- 11.1.4.1 Business overview
- 11.1.4.2 Products/Solutions/Services offered
- 11.1.4.3 MnM View
- 11.1.4.3.1 Right to win
- 11.1.4.3.2 Strategic choices
- 11.1.4.3.3 Weaknesses and competitive threats
- 11.1.5 SASOL LIMITED
- 11.1.5.1 Business overview
- 11.1.5.2 Products/Solutions/Services offered
- 11.1.5.3 MnM view
- 11.1.5.3.1 Right to win
- 11.1.5.3.2 Strategic choices
- 11.1.5.3.3 Weaknesses and competitive threats
- 11.1.6 PURETEMP LLC
- 11.1.6.1 Business overview
- 11.1.6.2 Products/Solutions/Services offered
- 11.1.6.3 MnM view
- 11.1.6.3.1 Right to win
- 11.1.6.3.2 Strategic choices
- 11.1.6.3.3 Weaknesses and competitive threats
- 11.1.7 CLIMATOR SWEDEN AB
- 11.1.7.1 Business overview
- 11.1.7.2 Products/Solutions/Services offered
- 11.1.8 RUBITHERM TECHNOLOGIES GMBH
- 11.1.8.1 Business overview
- 11.1.8.2 Products/Solutions/Services offered
- 11.1.9 MICROTEK LABORATORIES INC.
- 11.1.9.1 Business overview
- 11.1.9.2 Products/Solutions/Services offered
- 11.1.10 PHASE CHANGE SOLUTIONS
- 11.1.10.1 Business overview
- 11.1.10.2 Products/Solutions/Services offered
- 11.1.11 COLD CHAIN TECHNOLOGIES
- 11.1.11.1 Business overview
- 11.1.11.2 Products/Solutions/Services offered
- 11.1.11.3 Recent developments
- 11.1.11.3.1 Deals
- 11.1.11.3.2 Expansions
- 11.1.12 OUTLAST TECHNOLOGIES LLC
- 11.1.12.1 Business overview
- 11.1.12.2 Products/Solutions/Services offered
- 11.1.12.3 Recent developments
- 11.1.12.3.1 Product launches
- 11.1.13 PHASE CHANGE MATERIALS PRODUCTS LIMITED
- 11.1.13.1 Business overview
- 11.1.13.2 Products/Solutions/Services offered
- 11.2 STARTUPS/SMES
- 11.2.1 AI TECHNOLOGY, INC.
- 11.2.2 BEYOND INDUSTRIES (CHINA) LIMITED
- 11.2.3 CIAT GROUP
- 11.2.4 CRYOPAK INDUSTRIES INC.
- 11.2.5 DATUM PHASE CHANGE LIMITED
- 11.2.6 INSOLCORP LLC
- 11.2.7 IOLITEC IONIC LIQUIDS TECHNOLOGIES GMBH
- 11.2.8 KAPLAN ENERGY SAS
- 11.2.9 PARKER-HANNIFIN CORPORATION
- 11.2.10 MIKROCAPS
- 11.2.11 SHENZHEN AOCHUAN TECHNOLOGY CO., LTD.
- 11.2.12 SHIN-ETSU CHEMICAL CO., LTD
- 11.2.13 TEAPPCM
- 11.2.14 MILLIKEN & COMPANY
- 11.2.15 PLUSS ADVANCED TECHNOLOGIES PVT. LTD.
12 ADJACENT & RELATED MARKETS
- 12.1 INTRODUCTION
- 12.2 LIMITATIONS
- 12.3 THERMAL ENERGY STORAGE MARKET
- 12.3.1 MARKET DEFINITION
- 12.3.2 MARKET OVERVIEW
- 12.3.3 THERMAL ENERGY STORAGE MARKET, BY REGION
- 12.3.3.1 Europe
- 12.3.3.2 Americas
- 12.3.3.3 Middle East & Africa
- 12.3.3.4 Asia Pacific
13 APPENDIX
- 13.1 DISCUSSION GUIDE
- 13.2 KNOWLEDGESTORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 13.3 CUSTOMIZATION OPTIONS
- 13.4 RELATED REPORTS
- 13.5 AUTHOR DETAILS