Phase Change Material Market by Type, Application

List of Tables

[197 Pages Report] The Phase Change Material Market size was estimated at USD 1.86 billion in 2023 and expected to reach USD 2.09 billion in 2024, at a CAGR 12.71% to reach USD 4.31 billion by 2030.

Phase change material (PCM) is a substance with a high latent heat of fusion, which, during the process of melting and solidifying at a specific temperature, is capable of storing and releasing large amounts of energy. These materials transition between different phases (solid to liquid and vice versa) at predetermined temperatures, thereby serving as mediums for thermal energy storage. There is a growing emphasis on energy efficiency and sustainability across various sectors, including construction, HVAC, textiles, and electronics, where PCMs can play a pivotal role in temperature regulation and energy conservation. Technological advancements have led to the development of microencapsulated PCMs that can be integrated into lightweight and flexible materials, widening their application scope. The increasing demand for thermal management solutions amid the rise of electronic devices and electric vehicles has further propelled the use of PCMs. However, the high cost associated with the synthesis and processing of PCMs can impede their widespread adoption. Additionally, some PCMs, particularly organic compounds, may have issues with long-term thermal stability, and leakage during the phase transition process could pose practical application challenges. Addressing these drawbacks requires ongoing research and development efforts focused on creating cost-effective, durable, and non-leaking PCM solutions. The exploration of novel materials and composite structures, alongside advancements in encapsulation technologies, shows promise in overcoming these hurdles. The escalating demand for renewable energy solutions and the drive towards net-zero buildings highlight the potential for PCMs to enhance building sustainability and efficiency. Innovations in PCM technology could revolutionize thermal regulation in wearable technology, fostering developments in healthcare and sportswear.

KEY MARKET STATISTICS
Base Year [2023]	USD 1.86 billion
Estimated Year [2024]	USD 2.09 billion
Forecast Year [2030]	USD 4.31 billion
CAGR (%)	12.71%

Type: Usage of eutectic PCMs in precision in thermal management

Eutectic PCMs are compounds formed from two or more components, which, upon melting, solidify at a single temperature that is lower than the melting points of the individual constituents. They offer the advantage of melting and solidifying without segregation, providing a consistent thermal energy storage capacity. Due to their consistent melting point, eutectic PCMs are well-suited for applications requiring precise temperature control, such as electronics cooling, food transportation, and pharmaceuticals. Inorganic PCMs include salt hydrates and metallic PCMs. They are characterized by high latent heat storage capacity and thermal conductivity but can suffer from phase separation and subcooling, which limits their application in some cases. Due to their high thermal conductivities, inorganic PCMs are commonly used in building and construction for thermal mass in walls or floors, as well as in large-scale thermal energy storage systems associated with solar power plants. Organic PCMs encompass bio-based materials such as fatty acids and paraffins. They are characterized by their congruent melting, minimal volume change, and chemical stability over repeated thermal cycles. Organic PCMs find extensive applications in textile integration for temperature-regulating clothing, in building materials for passive cooling and heating, and as thermal buffers in electronic devices.

Application: Emerging potential of phase change materials in thermal energy storage

In the building and construction sector, PCMs are primarily used to enhance building energy efficiency, thereby reducing heating and cooling costs. The materials are integrated into walls, floors, and roofs to stabilize indoor temperatures. Cold chain & packaging use PCMs for temperature-controlled logistics. This is essential for the safe transportation of perishable goods and pharmaceuticals, ensuring product integrity. In electronics, PCMs aid in managing heat in devices, enhancing performance and longevity. These materials are utilized in battery packs, CPUs, and other heat-sensitive components. HVAC systems benefit from PCMs by reducing load and energy consumption, particularly during peak times. They store excess heat or cold, releasing it as needed to maintain comfort levels. PCMs are used in refrigeration to stabilize temperature fluctuations, enhancing the efficiency of refrigeration units and freezers. This is critical for both commercial and industrial applications. PCM-infused textiles regulate temperature, improving comfort for wearers, and this technology finds applications in sportswear, military uniforms, and protective clothing. Thermal energy storage systems leveraging PCMs allow for the capture of excess energy (during low-demand periods) to be used later. This optimizes energy usage and reduces reliance on traditional energy sources.

Regional Insights

In the Americas, there is a robust emphasis on the application of PCM in temperature-controlled packaging and HVAC systems, driven by stringent regulations regarding energy efficiency and the burgeoning e-commerce sector. Production tends to be highly innovative, with companies investing significantly in R&D to develop bio-based PCM solutions aimed at reducing carbon footprint. The region is home to a mix of pioneering startups and established corporations, fostering a competitive market environment. In the APAC region, the focus is more pronounced on the integration of PCM in textiles and building materials, catering to the region's vast population and its growing demand for thermal comfort and energy savings in residential and commercial buildings. The market is characterized by a large number of players, ranging from small-scale manufacturers to multinational conglomerates, contributing to a highly fragmented market scenario. In EMEA, the application of PCM is deeply integrated within the renewable energy sector, particularly in solar energy storage, as well as in building and construction for thermal regulation. This region excels in the production of advanced PCM technologies, with a strong focus on high performance and sustainability, supported by extensive European Union regulations and incentives. The company scenario in EMEA is diverse, with a significant presence of specialized PCM companies that possess strong technical expertise and focus on developing bespoke PCM solutions catering to specific industry needs.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Phase Change Material Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Phase Change Material Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Phase Change Material Market, highlighting leading vendors and their innovative profiles. These include AI Technology Inc., BASF SE, Chemtex Speciality Limited, Ciat Group by Carrier Global Corporation, Climator Sweden AB, Cold Chain Technologies, Inc., Croda International PLC, Cryopak Industries Inc., DuPont, Encapsys LLC, Henkel AG & Co. KGaA, Honeywell International Inc., Laird Technologies, Inc., Microtek Laboratories, Inc., Outlast Technologies LLC, Phase Change Solutions, Pluss Advanced Technologies B.V., PureTemp LLC, Rubitherm Technologies GmbH, Sasol Limited, and va Q tec AG.

Market Segmentation & Coverage

This research report categorizes the Phase Change Material Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
- Eutectic
- Inorganic
  - Metallic Alloys
  - Salt Hydrates

Organic
- Nonparaffin
- Paraffin

Application
- Building & Construction
- Cold Chain & Packaging
- Electronics
- HVAC
- Refrigeration & Equipment
- Textile
- Thermal Energy Storage

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Phase Change Material Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Phase Change Material Market?

3. What are the technology trends and regulatory frameworks in the Phase Change Material Market?

4. What is the market share of the leading vendors in the Phase Change Material Market?

5. Which modes and strategic moves are suitable for entering the Phase Change Material Market?

Product Code: MRR-563BF1FCF701

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing demand for temperature-controlled packaging
  - 5.1.1.2. Sustainability initiatives and adoption of thermal energy storage
  - 5.1.1.3. Need for efficient HVAC systems in data centers and large commercial buildings
- 5.1.2. Restraints
  - 5.1.2.1. Technical limitations of integration of PCMs and their performance limitations
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing R&D efforts for advancing phase change material technologies
  - 5.1.3.2. Emerging integration of phase change materials with solar and wind energy
- 5.1.4. Challenges
  - 5.1.4.1. Harmful effects of potential leakage of chemical-based PCMs
5.2. Market Segmentation Analysis
- 5.2.1. Type: Usage of eutectic PCMs in precision in thermal management
- 5.2.2. Application: Emerging potential of phase change materials in thermal energy storage
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Phase Change Material Market, by Type

6.1. Introduction
6.2. Eutectic
6.3. Inorganic
6.4. Organic

7. Phase Change Material Market, by Application

7.1. Introduction
7.2. Building & Construction
7.3. Cold Chain & Packaging
7.4. Electronics
7.5. HVAC
7.6. Refrigeration & Equipment
7.7. Textile
7.8. Thermal Energy Storage

8. Americas Phase Change Material Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Phase Change Material Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Phase Change Material Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. Innovative Partnership Pioneers Sustainable Energy Storage Solutions Across Channel Islands and Isle of Man
- 11.3.2. Sartorius and va-Q-tec Forge Groundbreaking Partnership Leveraging Phase Change Materials
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio