Global Construction Industry Growth Fuels Demand For Phase Change Materials Market: A Key Factor Shaping the Future of the Phase Change Materials Market in 2025

How Are the key drivers contributing to the expansion of the phase change materials market?
The burgeoning expansion of the construction sector globally is a significant factor propelling the rise in the phase change materials market in the projected period. These materials find extensive use in various locations within a building during its construction, such as the roof, flooring, and electronic devices. They help mitigate inconsistencies in internal temperatures by storing latent heat during the transition of the material from solid to liquid form. The swift urban population growth is predicted to escalate the need for newer residential and commercial structures in the forecast period. For example, the global construction sector is predicted to touch the $8 trillion mark by 2030, according to the Intercontinental Exchange (ICE), a technology-based firm in the US. Thus, the worldwide expansion of the construction sector is fueling the growth of the phase change materials market.

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What growth opportunities are expected to drive the phase change materials market's CAGR through 2034?
In recent years, the market size of phase change materials has experienced rapid growth. The market is predicted to expand from $1.84 billion in 2024 to $2.19 billion in 2025, with a compound annual growth rate (CAGR) of 19.2%. Factors such as energy-efficient building construction, temperature control in electronics, thermal management in food preservation, the rise in green building standards, and applications in energy storage and HVAC are contributing to the growth seen during this historical period.

The market size of phase change materials is anticipated to experience a swift increase over the next few years, expecting to reach $4.24 billion in 2029 with a compound annual growth rate (CAGR) of 18.0%. The projected growth during the forecast period can be credited to the integration of these materials into wearable technology, development of state-of-the-art phase change materials for electric vehicles, smart textiles and clothing, alongside the growth of data centres and cloud computing, as well as the expansion of renewable energy storage. Key trends during this period will include tailor-made phase change materials for particular applications, eco-friendly and sustainable PCMs, cutting-edge encapsulation technologies, and the augmentation of phase change materials using nanomaterials in conjunction with integration with Internet of Things (IoT) and sensor networks.

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What are the emerging trends shaping the future of the phase change materials market?
The advent of bio-based phase change material fabric coatings is redefining the phase change materials market. Derived from bio-based products like beef tallow and oils from coconut, palm, and soybeans, these bio-based phase change materials are emerging as sustainable alternatives. For example, in September 2022, BioFrost cooling technology was released by Sinomax USA Inc., a company known for its polyurethane comfort products in the US. BioFrost, a sustainable phase change material, delivers efficient cooling and contains up to 94% bio-based content, positioning it as one of the market's most environmentally friendly choices. Moreover, it improves product washability and pairs well with sustainable fabrics and foams, meeting customer needs for sanitized sleep environments and enhanced sustainability in bedding goods.

Which growth-oriented segments of the phase change materials market are leading the industry's development?
The phase change materials market covered in this report is segmented -

1) By Type: Organic, Inorganic, Bio-based
2) By Encapsulation Technology: Macro, Micro, Molecular
3) By Product: Paraffin, Non-Paraffin, Salt Hydrates, Eutectics
4) By End-User: Building and Construction, Packaging, Textiles, Electronics, Transportation, Other End-Users

Subsegments:
1) By Organic: Paraffin-Based Materials, Fatty Acids, Esters
2) By Inorganic: Salt Hydrates, Metallic Compounds, Water-Based Materials
3) By Bio-based: Plant-Based Materials, Animal-Based Materials, Biopolymers

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What regions are leading the charge in the phase change materials market?
Europe was the largest region in the phase change materials market in 2024. The regions covered in the phase change materials market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

What companies are at the forefront of innovation in the phase change materials market?
Major companies operating in the phase change materials market include Honeywell Electronic Materials Inc., Microtek Laboratories Inc., Croda International plc, Sasol Ltd., Henkel AG & Co. KGaA, Climator Mep Pvt Ltd., PCM Products Ltd., Phase Change Energy Solutions, Rubitherm Technologies, Cryopak Industries Inc., Outlast Technologies, DuPont de Nemours Inc., Dow Inc., Badische Anilin und Soda Fabrik, Puretemp LLC, Pluss Advanced Technologies Inc., Cold Chain Technologies Inc., Entropy Solutions LLC, Laird plc, Phase Change Materials Products Ltd., Shin-Etsu Chemical Co. Ltd., Smart Materials Corporation, Thermal Energy System Specialists, Henan Shijixiang Enterprise Co Ltd., AdvanSource Biomaterials Corporation, Encapsys LLC, Advanced Cooling Technologies Inc., Chemours Company

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What Is Covered In The Phase Change Materials Global Market Report?

•Market Size Forecast: Examine the phase change materials market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the phase change materials market for a structured understanding.
•Key Players Overview: Analyze major players in the phase change materials market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the phase change materials market.
•Segment Contributions: Evaluate how different segments drive overall growth in the phase change materials market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the phase change materials market.
•Industry Challenges: Identify potential risks and obstacles affecting the phase change materials market.
•Competitive Landscape: Review strategic developments in the phase change materials market, including expansions, agreements, and new product launches.

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