PUBLISHER: IMARC | PRODUCT CODE: 1792455
PUBLISHER: IMARC | PRODUCT CODE: 1792455
The North America advanced phase change materials market size reached USD 854.6 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 3,077.1 Million by 2033, exhibiting a growth rate (CAGR) of 14.53% during 2025-2033.
The advanced phase change materials (PCMs) refer to the elements with a capability to store latent heat emitted during distinctive phase transitions. At a commercial level, they store latent heat released during the solid-liquid phase transition. Advanced phase change materials enhance the heat storage capacity of buildings and are highly efficient in power distribution and generation systems. They are employed for cooling electrical engines, foods and drinks, maintaining high temperatures in greenhouses and conditioning of buildings.
North America represents one of the largest advanced phase change materials market owing to the highly developed manufacturing industries for electric and electronic devices. These devices use advanced PCMs pertaining to their high latent heat of fusion, specific heat, thermal stability and thermal conductivity in both solid and liquid phases. Several initiatives by government institutions, such as Department of Energy, are taken for the assessment of costs, risks and technology performance of advanced PCMs for their wide application in the region. Availability of these materials at affordable prices and their potential to provide zero net energy buildings will continue to spur the demand in the upcoming years.