Phase Change Materials MarketSize, Opportunities, Top Companies, Growth, Trends, Regional Graph, Key Segments, and Forecast to 2029

The Phase Change Materials (PCM) market is rapidly growing, driven by the demand for energy-efficient solutions in construction, HVAC, and electronics. Key trends include innovation in bio-based PCMs and increasing applications in thermal energy storage systems.
In terms of value, the phase change materials market [https://www.marketsandmarkets.com/Market-Reports/advanced-phase-change-material-pcm-market-1087.html] is estimated to grow from USD 628 million in 2024 to USD 1,383 million by 2029, at a CAGR of 17.1%. Rising demand for phase change materials from industries such as building & construction, HVAC, cold chain & packaging, thermal energy storage, refrigeration & equipment, textiles, electronics, and others for a variety of applications is leading the market. During the forecast period, this is anticipated to expand the phase change materials market even more.

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The key players in the phase change materials [https://www.marketsandmarkets.com/Market-Reports/advanced-phase-change-material-pcm-market-1087.html] market are Honeywell International Inc. (US), DuPont de Nemours, Inc. (US), Croda International Plc (UK), Boyd Corporation (US), Sasol Limited (South Africa), among others. Players in the phase change materials market are adopting both organic and inorganic growth strategies to grow their regional and global presence within the market. These major players are continuously developing new products to serve to their customer requirements. They are also violently acquiring other small companies to increase their market share within the global phase change materials market. In response to the growing demand for phase change materials in various applications, market participants are primarily emphasizing research and development efforts.

Honeywell International Inc.

Honeywell International Inc., a diversified multinational company, excels in aerospace, building technologies, and safety solutions. These innovative materials enhance energy efficiency in buildings & construction, HVAC, cold chain & packaging, thermal energy storage, refrigeration & equipment, textile, electronics, and refine thermal management across applications. Honeywell International Inc. PCM solutions underscore its commitment to sustainability, fostering significant energy savings and environmental benefits. With a global presence and relentless innovation, Honeywell International Inc. continues to drive PCM technology forward, reshaping industries and reinforcing its position as a leader in diverse sectors. With a strong reputation for reliability and innovation, Honeywell International Inc. is a trusted partner for businesses seeking top-tier phase change material.

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Croda International Plc

Croda International Plc, a leading specialty chemicals company, operates globally, offering innovative solutions across various sectors including personal care, life sciences, and performance technologies. Renowned for its expertise in sustainable chemistry, Croda International Plc excels in developing phase change materials (PCMs), essential for energy storage and thermal management applications. These PCMs optimize energy efficiency in buildings, enhance performance in electronics, and contribute to sustainable manufacturing processes. Leveraging its extensive research and development capabilities, Croda International Plc continues to pioneer PCM technology, driving advancements that address environmental challenges and propel industries toward greater efficiency and sustainability.

The phase change materials market is segmented into four regions: North America, Europe, Asia Pacific, and the Rest of the World. Among these, North America is poised to be the fastest-growing market for phase change materials in terms of value during the forecast period from 2024 to 2029. This rapid growth is primarily attributed to the region's technological advancements. Additionally, North America's strict safety regulations and standards in key industries such as building & construction, cold chain & packaging, and electronics significantly boost the demand for phase change materials.

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