PUBLISHER: The Business Research Company | PRODUCT CODE: 2045494
PUBLISHER: The Business Research Company | PRODUCT CODE: 2045494
Phase change materials (PCMs) in thermal management are materials that absorb, store, and release substantial amounts of heat when they undergo a phase transition, typically between solid and liquid states. They regulate temperature by absorbing excess heat as temperatures rise and releasing the stored heat as temperatures fall. PCMs are widely utilized to improve energy efficiency and maintain stable temperature control across various systems.
The main material types of phase change materials (PCMs) in thermal management comprise organic phase change materials (PCMs), inorganic phase change materials (PCMs), bio-based phase change materials (PCMs), and composite and enhanced phase change materials (PCMs). Organic PCMs are specialized materials designed to absorb, store, and release thermal energy efficiently, thereby supporting effective temperature regulation and energy management across diverse applications. These materials are available in various form factors, including bulk and raw PCMs, micro-encapsulated PCMs, macro-encapsulated PCMs, and shape-stabilized PCMs, and are offered across multiple temperature ranges such as low temperature, comfort range, medium temperature, and high temperature. They are extensively used in applications including building and construction, electronics cooling, battery thermal management, automotive, textiles and wearables, and cold chain and logistics.
Tariffs have affected the phase change materials market by increasing the cost of imported raw materials and specialized PCM components, impacting production timelines and overall pricing. Regions such as Asia-Pacific, which serve as major manufacturing hubs, are most affected, particularly in organic and composite PCM segments. Automotive and electronics cooling applications experience direct cost pressures, while building and construction segments face slower adoption due to increased material costs. However, tariffs are also encouraging local manufacturing and material innovation, creating opportunities for cost-optimized and regionally sourced PCM solutions.
The phase change materials (PCMs) in thermal management market research report is one of a series of new reports from The Business Research Company that provides phase change materials (PCMs) in thermal management market statistics, including phase change materials (PCMs) in thermal management industry global market size, regional shares, competitors with a phase change materials (PCMs) in thermal management market share, detailed phase change materials (PCMs) in thermal management market segments, market trends and opportunities, and any further data you may need to thrive in the phase change materials (PCMs) in thermal management industry. This phase change materials (PCMs) in thermal management 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 (PCMs) in thermal management market size has grown strongly in recent years. It will grow from $1.7 billion in 2025 to $1.85 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to rising demand for temperature regulation in electronics, growing adoption of pcm-based thermal management in automotive, increasing use of organic pcms in construction, advances in inorganic pcm formulations, early adoption in textile and wearable applications.
The phase change materials (PCMs) in thermal management market size is expected to see strong growth in the next few years. It will grow to $2.6 billion by 2030 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increasing integration of pcms in electric vehicle batteries, growth in sustainable and bio-based pcm applications, rising demand for cold chain and logistics efficiency, expansion in industrial and commercial building applications, innovations in nano-enhanced and composite pcm materials. Major trends in the forecast period include advancements in micro and macro encapsulation technologies, rising adoption of bio-based phase change materials, integration of pcms in cold chain and logistics solutions, growing use of pcms in battery thermal management systems, increasing focus on energy efficiency in building and construction.
The increasing demand for energy-efficient buildings is anticipated to propel the expansion of phase change materials (PCMs) in the thermal management market going forward. Energy-efficient buildings are structures engineered to reduce energy consumption through enhanced insulation, heating, cooling, and thermal regulation systems. The demand for energy-efficient buildings is primarily driven by escalating global energy costs and tightening government regulations, as countries worldwide have implemented stringent building energy codes and decarbonization mandates that compel both new construction and retrofitting activities to comply with higher performance standards. The growing focus on minimizing thermal energy loss in buildings is contributing to the adoption of PCMs, as these materials offer advanced latent heat storage capabilities that help stabilize indoor temperatures while significantly lowering the energy required for heating and cooling. For instance, in May 2024, according to the U.S. Environmental Protection Agency, a US-based federal government agency responsible for environmental protection, the number of commercial buildings that achieved ENERGY STAR certification increased from more than 7,000 in 2022 to over 8,800 in 2023, marking an increase of approximately 1,800 buildings. Therefore, the rising demand for energy-efficient buildings is supporting the growth of phase change materials (PCMs) in the thermal management market.
Prominent companies operating in the phase change materials (PCMs) in the thermal management market are focusing on developing innovative solutions, such as nano-phase change material-based cooling systems, to meet the rising demand for efficient and stable temperature control in energy storage systems. Nano-phase change material (nano-PCM)-based cooling systems refer to advanced thermal management systems that use nano-engineered phase change materials to absorb, store, and release heat efficiently during temperature fluctuations. In March 2025, PuRE, an India-based energy storage and technology company, introduced PuRE Power. It integrates nano-PCM thermal regulation technology into its energy storage solutions. This innovative thermal management product uses engineered nanoscale phase change materials that undergo reversible melting and solidification, providing high latent heat storage capacity to maintain optimal battery operating temperatures. It provides passive and uniform temperature regulation without requiring moving parts or external power, thereby improving battery life, safety, and performance. It is well-suited for renewable energy storage, electric mobility, and high-density power electronics, where effective thermal management is essential, while helping reduce thermal hotspots, prevent overheating, and enhance overall system efficiency.
In October 2024, Sunwin Industry Group, a China-based textile manufacturer, acquired Outlast Technologies GmbH for an undisclosed amount. Through this acquisition, Sunwin Industry Group intends to enhance its advanced textile portfolio by incorporating proprietary phase change material (PCM) technology to improve temperature-regulating performance, broaden its global presence, and strengthen its competitive position in smart and functional textiles. Outlast Technologies GmbH is a Germany-based developer of microencapsulated phase change materials (mPCMs) for temperature-regulating textiles and related products.
Major companies operating in the phase change materials (PCMs) in thermal management market are BASF SE, Honeywell International Inc., 3M Company, Henkel AG & Co. KGaA, Sumitomo Chemical Co. Ltd., Evonik Industries AG, Sasol Germany GmbH, Wacker Chemie AG, Boyd Corporation, Croda International Plc, Morgan Advanced Materials Plc, Kaneka Corporation, Aspen Aerogels Inc., Phase Change Energy Solutions LLC, Cryopak Industries Inc., Pluss Advanced Technologies Pvt. Ltd., Advanced Cooling Technologies Inc., Microtek Laboratories Inc., Climator Sweden AB, Rubitherm Technologies GmbH, PCM Products Ltd., PureTemp LLC.
North America was the largest region in the phase change materials (PCMs) in the thermal management market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phase change materials (PCMs) in thermal management 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 (PCMs) in thermal management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The phase change materials (PCMs) in the thermal management market consist of sales of microencapsulated phase change materials (PCMs), shape-stabilized phase change materials (PCMs) panels, phase change materials (PCMs) thermal interface pads, and phase change materials (PCMs) heat sink modules. 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 (PCMs) In Thermal Management 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 (pcms) in thermal management 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 (pcms) in thermal management ? 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 (pcms) in thermal management 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.
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