PUBLISHER: The Business Research Company | PRODUCT CODE: 1931504
PUBLISHER: The Business Research Company | PRODUCT CODE: 1931504
Phase-change materials, also known as latent heat storage units, are a class of substances that, during a change from one physical state to another, such as from a solid to a liquid, absorb or release significant amounts of latent heat. These materials find applications in various industries, including solar power plants, waste heat recovery systems, food preservation, pharmaceutical products, and construction.
The main types of phase change materials include organic, inorganic, and bio-based. Organic phase change materials are capable of absorbing and releasing latent heat during the phase change process at specific temperatures. These materials come in different forms, such as paraffin, non-paraffin, salt hydrates, and eutectics, and utilize various encapsulation technologies, including macro, micro, and molecular. Phase change materials are implemented in diverse end-use industries, such as building and construction, packaging, textiles, electronics, transportation, and more.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
Tariffs are influencing the phase change materials market by increasing costs of imported raw materials, encapsulation equipment, specialty chemicals, and processing technologies. Construction, energy storage, and cold chain packaging segments in North America and Europe are most affected due to reliance on imported materials, while Asia-Pacific faces higher export-related costs. These tariffs are raising production costs and slowing adoption in price-sensitive applications. However, they are also encouraging local material sourcing, regional manufacturing expansion, and innovation in bio-based and cost-optimized PCM solutions.
The phase change materials market research report is one of a series of new reports from The Business Research Company that provides phase change materials market statistics, including phase change materials industry global market size, regional shares, competitors with a phase change materials market share, detailed phase change materials market segments, market trends and opportunities, and any further data you may need to thrive in the phase change materials industry. This phase change materials market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The phase change materials market size has grown rapidly in recent years. It will grow from $2.17 billion in 2025 to $2.56 billion in 2026 at a compound annual growth rate (CAGR) of 18.1%. The growth in the historic period can be attributed to growth of renewable energy installations, expansion of construction activities, rising need for temperature-controlled logistics, early adoption of latent heat storage systems, availability of organic and inorganic pcms.
The phase change materials market size is expected to see rapid growth in the next few years. It will grow to $4.84 billion in 2030 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to increasing investments in energy-efficient buildings, rising adoption of electric vehicles thermal management, expansion of cold chain infrastructure, growing focus on renewable energy storage solutions, increasing use of advanced encapsulation technologies. Major trends in the forecast period include increasing adoption of thermal energy storage systems, rising use of pcms in building materials, growing deployment in cold chain packaging, expansion of pcm applications in electronics cooling, enhanced focus on energy efficiency.
The growing adoption of renewable energy is expected to drive the phase change materials market in the coming years. Renewable energy refers to energy sources that are not exhausted through use and can be naturally replenished within a human lifetime. Phase change materials are utilized in renewable energy systems to store and release thermal energy, thereby improving system efficiency and supporting sustainability goals. For example, in June 2023, according to the International Energy Agency (IEA), a France-based energy organization, net additions of distributed photovoltaic (PV) renewable electricity capacity increased to 136.2 GW in 2023 from 107.4 GW in 2022, while utility-scale PV capacity rose from 112.6 GW in 2022 to 150.8 GW in 2023. Consequently, the rising adoption of renewable energy is contributing to the growth of the phase change materials market.
Major companies operating in the phase change materials market are introducing innovative ultra-low temperature solutions to ensure backup temperature security and provide alternatives to dry ice. Ultra-low temperature solutions refer to systems and technologies designed to maintain temperatures far below conventional freezing levels. For instance, in March 2023, BioLife Solutions Inc., a US-based supplier of class-defining cell and gene therapy solutions, launched Ultraguard, the first -70°C phase change material that is non-toxic, non-hazardous, and non-flammable. This PCM delivers ultra-low temperature protection and can function as a backup during power outages in ultra-low temperature freezers, as well as a benchtop storage option for biological materials, offering a viable alternative to dry ice.
In October 2024, Sunwin Industry Group Co., Ltd., a China-based manufacturing and textile design company, acquired Outlast Technologies for an undisclosed sum. Through this acquisition, Sunwin sought to integrate its broad manufacturing and distribution strengths with Outlast's expertise in proactive thermal management, aiming to boost innovation, broaden its product offerings, and accelerate global market expansion. Outlast Technologies GmbH is a Germany-based technology company specializing in the development of advanced temperature management and phase change material solutions for textiles and related applications.
Major companies operating in the phase change materials market are Rubitherm Technologies GmbH, PCM Products Ltd., Phase Change Energy Solutions Inc., Puretemp LLC, Pluss Advanced Technologies Ltd., Entropy Solutions LLC, Outlast Technologies Inc., Climator Sweden AB, Cryopak Industries Inc., Cold Chain Technologies LLC, Phase Change Materials Products Ltd., Henan Shijixiang Enterprise Co. Ltd., Smart Materials Corporation, Advanced Cooling Technologies Inc., Thermal Energy System Specialists LLC, Laird Technologies Inc., Microtek Laboratories Inc., Encapsys LLC, AdvanSource Biomaterials Corporation, Insolcorp Ltd.
Europe was the largest region in the phase change materials market in 2025. The regions covered in the phase change materials market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the phase change materials market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The phase change materials consist of paraffin, nonparaffin, salt hydrates, metallic alloys, and plant-based materials. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Phase Change Materials Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses phase change materials market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for phase change materials ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The phase change materials market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Added Benefits available all on all list-price licence purchases, to be claimed at time of purchase. Customisations within report scope and limited to 20% of content and consultant support time limited to 8 hours.