Global Phase Change Materials Market Size Study & Forecast, by Type and Application, and Regional Forecasts 2025-2035

Description

The Global Phase Change Materials (PCM) Market is valued at approximately USD 2.98 billion in 2024 and is poised to grow at a staggering CAGR of 21.00% over the forecast period of 2025 to 2035. Phase change materials-characterized by their ability to absorb, store, and release thermal energy during transitions between physical states-are revolutionizing the way industries manage temperature regulation and energy efficiency. These smart materials are increasingly integrated into high-demand applications like building & construction, HVAC systems, thermal energy storage, electronics, and even advanced textiles, owing to their excellent thermal buffering capabilities.

The surge in global energy efficiency mandates and a rising emphasis on renewable and sustainable energy solutions are major catalysts accelerating the growth of the PCM market. With urban infrastructure modernizing across developed and developing economies alike, builders and manufacturers are compelled to seek intelligent insulation and cooling solutions to mitigate energy wastage. For example, in construction, PCMs integrated into wallboards or insulation panels absorb excess heat during the day and release it at night, thus reducing dependence on HVAC systems. Additionally, their adoption in cold chain logistics is witnessing notable growth due to increasing demand for temperature-sensitive pharmaceutical and food shipments. The wave of technological innovation in encapsulation techniques and bio-based material development further strengthens the market's value proposition.

From a regional standpoint, North America continues to lead the global phase change materials market, primarily driven by high investments in energy-efficient building technologies, sustainability-focused regulations, and a robust innovation ecosystem. The United States, in particular, has made notable strides in integrating PCM-based systems into both commercial and residential structures. Meanwhile, the Asia Pacific region is forecasted to grow at the fastest pace throughout the projection period, owing to rapid industrialization, expanding urban sprawl, and proactive government initiatives supporting clean energy adoption in countries like China, India, Japan, and South Korea. Europe also remains a significant player, supported by strong environmental policies and ambitious climate-neutral targets set by the European Union.

Major market player included in this report are:

Phase Change Energy Solutions Inc.
BASF SE
Rubitherm Technologies GmbH
Croda International Plc.
Honeywell International Inc.
Sasol Limited
Halliburton Company
Pluss Advanced Technologies Pvt. Ltd.
Chemours Company
Energain (DuPont)
PCM Products Ltd.
Outlast Technologies LLC
Entropy Solutions LLC
CSafe Global
Climator Sweden AB

Global Phase Change Materials Market Report Scope:

Historical Data - 2023, 2024
Base Year for Estimation - 2024
Forecast period - 2025-2035
Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope - Free report customization (equivalent up to 8 analysts' working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segments of the market are explained below:

By Type:

Organic
Inorganic
Eutectic

By Application:

Building & Construction
HVAC
Thermal Energy Storage
Cold Chain Packaging
Textiles
Electronics
Others

By Region:

North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
Rest of Europe
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia Pacific
Latin America
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa

Key Takeaways:

Market Estimates & Forecast for 10 years from 2025 to 2035.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with country-level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

Chapter 1. Global Phase Change Materials Market Report Scope & Methodology

1.1. Research Objective
1.2. Research Methodology
- 1.2.1. Forecast Model
- 1.2.2. Desk Research
- 1.2.3. Top Down and Bottom-Up Approach
1.3. Research Attributes
1.4. Scope of the Study
- 1.4.1. Market Definition
- 1.4.2. Market Segmentation
1.5. Research Assumption
- 1.5.1. Inclusion & Exclusion
- 1.5.2. Limitations
- 1.5.3. Years Considered for the Study

Chapter 2. Executive Summary

2.1. CEO/CXO Standpoint
2.2. Strategic Insights
2.3. ESG Analysis
2.4. Key Findings

Chapter 3. Global Phase Change Materials Market Forces Analysis

3.1. Market Forces Shaping the Global Phase Change Materials Market (2024-2035)
3.2. Drivers
- 3.2.1. Surging demand for energy-efficient building materials
- 3.2.2. Rapid adoption in temperature-sensitive cold chain logistics
- 3.2.3. Rising demand for HVAC and smart temperature-control systems
3.3. Restraints
- 3.3.1. High manufacturing and material costs
- 3.3.2. Complexities associated with material compatibility and performance degradation
3.4. Opportunities
- 3.4.1. Advancements in encapsulation technologies and bio-based PCMs
- 3.4.2. Integration with next-gen electronics and energy storage systems

Chapter 4. Global Phase Change Materials Industry Analysis

4.1. Porter's 5 Forces Model
- 4.1.1. Bargaining Power of Buyer
- 4.1.2. Bargaining Power of Supplier
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Forces Forecast Model (2024-2035)
4.3. PESTEL Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top Investment Opportunities
4.5. Top Winning Strategies (2025)
4.6. Market Share Analysis (2024-2025)
4.7. Global Pricing Analysis and Trends 2025
4.8. Analyst Recommendation & Conclusion

Chapter 5. Global Phase Change Materials Market Size & Forecasts by Type 2025-2035

5.1. Market Overview
5.2. Global Phase Change Materials Market Performance - Potential Analysis (2025)
5.3. Organic
- 5.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.3.2. Market Size Analysis, by Region, 2025-2035
5.4. Inorganic
- 5.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.4.2. Market Size Analysis, by Region, 2025-2035
5.5. Eutectic
- 5.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 5.5.2. Market Size Analysis, by Region, 2025-2035

Chapter 6. Global Phase Change Materials Market Size & Forecasts by Application 2025-2035

6.1. Market Overview
6.2. Global Phase Change Materials Market Performance - Potential Analysis (2025)
6.3. Building & Construction
- 6.3.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.3.2. Market Size Analysis, by Region, 2025-2035
6.4. HVAC
- 6.4.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.4.2. Market Size Analysis, by Region, 2025-2035
6.5. Thermal Energy Storage
- 6.5.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.5.2. Market Size Analysis, by Region, 2025-2035
6.6. Cold Chain Packaging
- 6.6.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.6.2. Market Size Analysis, by Region, 2025-2035
6.7. Textiles
- 6.7.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.7.2. Market Size Analysis, by Region, 2025-2035
6.8. Electronics
- 6.8.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.8.2. Market Size Analysis, by Region, 2025-2035
6.9. Others
- 6.9.1. Top Countries Breakdown Estimates & Forecasts, 2024-2035
- 6.9.2. Market Size Analysis, by Region, 2025-2035

Chapter 7. Global Phase Change Materials Market Size & Forecasts by Region 2025-2035

7.1. Global Phase Change Materials Market, Regional Market Snapshot
7.2. Top Leading & Emerging Countries
7.3. North America Phase Change Materials Market
- 7.3.1. U.S.
  - 7.3.1.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.3.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.3.2. Canada
  - 7.3.2.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.3.2.2. Application Breakdown Size & Forecasts, 2025-2035
7.4. Europe Phase Change Materials Market
- 7.4.1. UK
  - 7.4.1.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.2. Germany
  - 7.4.2.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.2.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.3. France
  - 7.4.3.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.3.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.4. Spain
  - 7.4.4.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.4.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.5. Italy
  - 7.4.5.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.5.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.4.6. Rest of Europe
  - 7.4.6.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.4.6.2. Application Breakdown Size & Forecasts, 2025-2035
7.5. Asia Pacific Phase Change Materials Market
- 7.5.1. China
  - 7.5.1.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.2. India
  - 7.5.2.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.2.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.3. Japan
  - 7.5.3.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.3.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.4. Australia
  - 7.5.4.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.4.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.5. South Korea
  - 7.5.5.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.5.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.5.6. Rest of Asia Pacific
  - 7.5.6.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.5.6.2. Application Breakdown Size & Forecasts, 2025-2035
7.6. Latin America Phase Change Materials Market
- 7.6.1. Brazil
  - 7.6.1.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.6.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.6.2. Mexico
  - 7.6.2.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.6.2.2. Application Breakdown Size & Forecasts, 2025-2035
7.7. Middle East & Africa Phase Change Materials Market
- 7.7.1. UAE
  - 7.7.1.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.7.1.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.7.2. Saudi Arabia
  - 7.7.2.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.7.2.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.7.3. South Africa
  - 7.7.3.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.7.3.2. Application Breakdown Size & Forecasts, 2025-2035
- 7.7.4. Rest of Middle East & Africa
  - 7.7.4.1. Type Breakdown Size & Forecasts, 2025-2035
  - 7.7.4.2. Application Breakdown Size & Forecasts, 2025-2035

Chapter 8. Competitive Intelligence

8.1. Top Market Strategies
8.2. Phase Change Energy Solutions Inc.
- 8.2.1. Company Overview
- 8.2.2. Key Executives
- 8.2.3. Company Snapshot
- 8.2.4. Financial Performance (Subject to Data Availability)
- 8.2.5. Product/Services Port
- 8.2.6. Recent Development
- 8.2.7. Market Strategies
- 8.2.8. SWOT Analysis
8.3. BASF SE
8.4. Rubitherm Technologies GmbH
8.5. Croda International Plc.
8.6. Honeywell International Inc.
8.7. Sasol Limited
8.8. Halliburton Company
8.9. Pluss Advanced Technologies Pvt. Ltd.
8.10. Chemours Company
8.11. Energain (DuPont)
8.12. PCM Products Ltd.
8.13. Outlast Technologies LLC
8.14. Entropy Solutions LLC
8.15. CSafe Global
8.16. Climator Sweden AB