The Phase Change Materials Market is expected to register a CAGR of 18% from 2025 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report presents analysis based on product type (organic and inorganic). The report is segmented by application (heating, ventilation, and air conditioning (HVAC), building and construction, packaging, refrigeration, thermal energy storage, textiles, and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Phase Change Materials Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Phase Change Materials Market Segmentation
Product Type- Organic
- Inorganic
- Heating
- ventilation
- air conditioning
- Building and Construction
- Packaging
- Refrigeration
- Thermal Energy Storage
- Textiles
Strategic Insights
Phase Change Materials Market Growth Drivers- Electronics Sector Driving Phase Change Materials (PCMs) Market Growth: The expanding electronics sector considerably drives the phase change materials market. As electronic devices are becoming more portable and power-intensive, their need to manage heat dissipation has also increased. PCMs enable the absorption, storage, and release of heat, thus making them ideal for the thermal management of smartphones, laptops, and even wearables.
- The Push for Energy Efficiency and Sustainability: Besides, the higher demand for energy efficiency in electronics has also fueled the adoption of PCMs. They can allow the monitoring of temperature shifts, increase the life expectancy of devices, and generally improve the performance of products. As producers increasingly treat sustainability as important, PCMs get into eco-friendly developments as consumer needs do, such as technologies capable of saving energy.
- Miniaturization of Electronics and Growth of the PCM Market: Miniaturization of electronics leads to added growth in the phase change materials market. The smaller the devices, the more the cooling capabilities are constrained through traditional means, requiring new thermal management means. PCMs are an ideal substitute and easily incorporated into slim designs without sacrificing optimal operating temperatures. This is particularly critical in various industries-including consumer electronics, automotive, and renewable energy.
- Advancements in Phase Change Material (PCM) Encapsulation Technologies: There appeared some new types of phase change material better encapsulation technologies in the market. They looked more efficient and applicable. It ensures leakage and degradation protection of phase change material by encapsulating the latter inside protective shells.
- Expansion of Applications Across Industries: These techniques further enable the integration of phase change materials into broad applications, such as electronics, building materials, and even textiles. Improved encapsulation has made it possible to engineer properties such as melting points and thermal conductivity for specific use in an industry. This diversity is what will be the key as the demand for bespoke thermal solutions is accelerating.
- Tailored Thermal Properties for Specific Applications: This encapsulation, therefore, may improve the PCMs, enhancing their thermal stability and reliability in high-temperature environments. That is critical in application to renewable energy and automotive sectors whose thermal performance demands need to be met. As such, when the generation of sustainable practices takes center stage in industrial practice, encapsulated PCMs provide a clean alternative supporting the quest for energy efficiency while reducing carbon footprints.
- Phase Change Materials in Renewable Energy Storage: Phase change materials hold significant promise in the storage of renewable energy. Renewable energy storage, where the demand for sustainable energy solutions has led to increasing scrutiny of effective systems for thermal energy storage, will see the emergence of phase change materials that can store excess renewable heat from solar and wind power and deliver a balanced output regardless of production fluctuations.
- Integration of PCMs in Building Architecture: These materials allow for the efficient capture and release of thermal energy. They have been developed for use in solar thermal systems and district heating. The system ensures that all its use translates to maximum energy efficiency and waste minimization. This is a global requirement on sustainability and energy conservation standards. This capability makes phase change materials attractive for use in renewable energy applications.
- Enhancing Sustainability with Phase Change Materials: All these factors have seen the uptake of phase change materials in construction architecture because they can store and release thermal energy into the building without heating and cooling, thus improving energy efficiency and lowering operation costs. To attract sustainable developers, the adoption of phase change materials is desirable in that not many changes need to be done to the building materials themselves but their form can be modified to add PCMs in order to realize this functionality.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Phase Change Materials Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Phase Change Materials Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Enhanced encapsulation techniques is expected to be the key market trends.
Based on product type, the organic segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the phase change materials market due to the rapid industrialization and urbanization in countries like China, India, and Japan have increased the demand for energy-efficient solutions across various sectors, including construction, electronics, and automotive.
The growing electronics industry is driving the market growth.
PCM Products Ltd.; Climator Sweden AB; Croda International Plc; Sasol; Laird Technologies Inc; Honeywell International Inc; Phase Change Solutions; Cold Chain Technologies; BASF SE; and Cryopak are some of the key players operating in the phase change materials market
The Phase Change Materials Market is estimated to witness a CAGR of 18% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Phase Change Materials Market - By Product Type
1.3.2 Phase Change Materials Market - By Application
1.3.3 Phase Change Materials Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. PHASE CHANGE MATERIALS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. PHASE CHANGE MATERIALS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. PHASE CHANGE MATERIALS MARKET - GLOBAL MARKET ANALYSIS
6.1. PHASE CHANGE MATERIALS - GLOBAL MARKET OVERVIEW
6.2. PHASE CHANGE MATERIALS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. PHASE CHANGE MATERIALS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. ORGANIC
7.3.1. Overview
7.3.2. Organic Market Forecast and Analysis
7.4. INORGANIC
7.4.1. Overview
7.4.2. Inorganic Market Forecast and Analysis
8. PHASE CHANGE MATERIALS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BUILDING AND CONSTRUCTION
8.3.1. Overview
8.3.2. Building and Construction Market Forecast and Analysis
8.4. PACKAGING
8.4.1. Overview
8.4.2. Packaging Market Forecast and Analysis
8.5. REFRIGERATION
8.5.1. Overview
8.5.2. Refrigeration Market Forecast and Analysis
8.6. ENERGY STORAGE
8.6.1. Overview
8.6.2. Energy Storage Market Forecast and Analysis
8.7. TEXTILES
8.7.1. Overview
8.7.2. Textiles Market Forecast and Analysis
8.8. OTHERS
8.8.1. Overview
8.8.2. Others Market Forecast and Analysis
9. PHASE CHANGE MATERIALS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Phase Change Materials Market Overview
9.1.2 North America Phase Change Materials Market Forecasts and Analysis
9.1.3 North America Phase Change Materials Market Forecasts and Analysis - By Product Type
9.1.4 North America Phase Change Materials Market Forecasts and Analysis - By Application
9.1.5 North America Phase Change Materials Market Forecasts and Analysis - By Countries
9.1.5.1 United States Phase Change Materials Market
9.1.5.1.1 United States Phase Change Materials Market by Product Type
9.1.5.1.2 United States Phase Change Materials Market by Application
9.1.5.2 Canada Phase Change Materials Market
9.1.5.2.1 Canada Phase Change Materials Market by Product Type
9.1.5.2.2 Canada Phase Change Materials Market by Application
9.1.5.3 Mexico Phase Change Materials Market
9.1.5.3.1 Mexico Phase Change Materials Market by Product Type
9.1.5.3.2 Mexico Phase Change Materials Market by Application
9.2. EUROPE
9.2.1 Europe Phase Change Materials Market Overview
9.2.2 Europe Phase Change Materials Market Forecasts and Analysis
9.2.3 Europe Phase Change Materials Market Forecasts and Analysis - By Product Type
9.2.4 Europe Phase Change Materials Market Forecasts and Analysis - By Application
9.2.5 Europe Phase Change Materials Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Phase Change Materials Market
9.2.5.1.1 Germany Phase Change Materials Market by Product Type
9.2.5.1.2 Germany Phase Change Materials Market by Application
9.2.5.2 France Phase Change Materials Market
9.2.5.2.1 France Phase Change Materials Market by Product Type
9.2.5.2.2 France Phase Change Materials Market by Application
9.2.5.3 Italy Phase Change Materials Market
9.2.5.3.1 Italy Phase Change Materials Market by Product Type
9.2.5.3.2 Italy Phase Change Materials Market by Application
9.2.5.4 United Kingdom Phase Change Materials Market
9.2.5.4.1 United Kingdom Phase Change Materials Market by Product Type
9.2.5.4.2 United Kingdom Phase Change Materials Market by Application
9.2.5.5 Russia Phase Change Materials Market
9.2.5.5.1 Russia Phase Change Materials Market by Product Type
9.2.5.5.2 Russia Phase Change Materials Market by Application
9.2.5.6 Rest of Europe Phase Change Materials Market
9.2.5.6.1 Rest of Europe Phase Change Materials Market by Product Type
9.2.5.6.2 Rest of Europe Phase Change Materials Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Phase Change Materials Market Overview
9.3.2 Asia-Pacific Phase Change Materials Market Forecasts and Analysis
9.3.3 Asia-Pacific Phase Change Materials Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Phase Change Materials Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Phase Change Materials Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Phase Change Materials Market
9.3.5.1.1 Australia Phase Change Materials Market by Product Type
9.3.5.1.2 Australia Phase Change Materials Market by Application
9.3.5.2 China Phase Change Materials Market
9.3.5.2.1 China Phase Change Materials Market by Product Type
9.3.5.2.2 China Phase Change Materials Market by Application
9.3.5.3 India Phase Change Materials Market
9.3.5.3.1 India Phase Change Materials Market by Product Type
9.3.5.3.2 India Phase Change Materials Market by Application
9.3.5.4 Japan Phase Change Materials Market
9.3.5.4.1 Japan Phase Change Materials Market by Product Type
9.3.5.4.2 Japan Phase Change Materials Market by Application
9.3.5.5 South Korea Phase Change Materials Market
9.3.5.5.1 South Korea Phase Change Materials Market by Product Type
9.3.5.5.2 South Korea Phase Change Materials Market by Application
9.3.5.6 Rest of Asia-Pacific Phase Change Materials Market
9.3.5.6.1 Rest of Asia-Pacific Phase Change Materials Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Phase Change Materials Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Phase Change Materials Market Overview
9.4.2 Middle East and Africa Phase Change Materials Market Forecasts and Analysis
9.4.3 Middle East and Africa Phase Change Materials Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Phase Change Materials Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Phase Change Materials Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Phase Change Materials Market
9.4.5.1.1 South Africa Phase Change Materials Market by Product Type
9.4.5.1.2 South Africa Phase Change Materials Market by Application
9.4.5.2 Saudi Arabia Phase Change Materials Market
9.4.5.2.1 Saudi Arabia Phase Change Materials Market by Product Type
9.4.5.2.2 Saudi Arabia Phase Change Materials Market by Application
9.4.5.3 U.A.E Phase Change Materials Market
9.4.5.3.1 U.A.E Phase Change Materials Market by Product Type
9.4.5.3.2 U.A.E Phase Change Materials Market by Application
9.4.5.4 Rest of Middle East and Africa Phase Change Materials Market
9.4.5.4.1 Rest of Middle East and Africa Phase Change Materials Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Phase Change Materials Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Phase Change Materials Market Overview
9.5.2 South and Central America Phase Change Materials Market Forecasts and Analysis
9.5.3 South and Central America Phase Change Materials Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Phase Change Materials Market Forecasts and Analysis - By Application
9.5.5 South and Central America Phase Change Materials Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Phase Change Materials Market
9.5.5.1.1 Brazil Phase Change Materials Market by Product Type
9.5.5.1.2 Brazil Phase Change Materials Market by Application
9.5.5.2 Argentina Phase Change Materials Market
9.5.5.2.1 Argentina Phase Change Materials Market by Product Type
9.5.5.2.2 Argentina Phase Change Materials Market by Application
9.5.5.3 Rest of South and Central America Phase Change Materials Market
9.5.5.3.1 Rest of South and Central America Phase Change Materials Market by Product Type
9.5.5.3.2 Rest of South and Central America Phase Change Materials Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. PHASE CHANGE MATERIALS MARKET, KEY COMPANY PROFILES
11.1. PCM PRODUCTS
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CLIMATOR SWEDEN AB
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. CRODA INTERNATIONAL PLC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. SASOL
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. LAIRD TECHNOLOGIES INC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. HONEYWELL INTERNATIONAL INC
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. PHASE CHANGE SOLUTIONS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. COLD CHAIN TECHNOLOGIES
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. BASF SE
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. CRYOPAK
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1.PCM Products
2.Climator Sweden AB
3.Croda International Plc
4.Sasol
5.Laird Technologies Inc
6.Honeywell International Inc
7.Phase Change Solutions
8.Cold Chain Technologies
9.Basf Se
10.Cryopak
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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