Global Phase Change Materials Market Analysis 2025-2030: Growth Drivers, Challenges, And Opportunities

The Phase Change Materials Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Phase Change Materials Market Size Expected to Be by 2034?
In the recent past, the market size of phase change materials has experienced a significant expansion. The market, valued at $1.84 billion in 2024, is projected to reach $2.19 billion in 2025, growing at a compound annual growth rate (CAGR) of 19.2%. Factors credited for the growth during the historic period include the construction of energy-efficient buildings, temperature control in electronics, improved thermal management in food preservation, the expansion of green building standards, energy storage, and HVAC applications.

In the ensuing years, the phase change materials market is predicted to witness swift expansion. By 2029, it's expected to touch $4.24 billion, progressing at a compound annual growth rate (CAGR) of 18.0%. The surge in the projected period is due to its inclusion in wearable technology, progressive phase change materials for electric vehicles, smart apparel and textiles, escalation in data centers and cloud computing, and broadening of renewable energy storage. Prominent trends during this forecast period encapsulate bespoke phase change materials for particular applications, ecologically friendly and sustainable phase change materials, high-end encapsulation technologies, enhancements in phase change materials via nanomaterials, and integration with the Internet Of Things (IoT) and sensor networks.

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What Are the Emerging Segments Within the Phase Change Materials Market?
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 Long-Term Drivers Are Shaping Phase Change Materials Market Trends?
The global rise in the construction sector is impacting the expansion of the phase change materials market within the projected timeline. These materials are incorporated in numerous parts of a building's construction, including roofs, floors and electronic devices, playing a pivotal role in diminishing temperature variations in the interior surroundings by preserving latent heat during the transition from solid to liquid. The sharp surge in urban populations is likely to enhance the need for new residential and commercial properties during the prediction period. For example, the Intercontinental Exchange (ICE), a technology firm based in the United States, forecasts that the worldwide construction industry is set to hit the $8 trillion mark by 2030. Consequently, the burgeoning construction industry on a global scale propels the expansion of the phase change materials market.

Who Are the Top Competitors in Key Phase Change Materials Market Segments?
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

What Phase Change Materials Market Trends Are Gaining Traction Across Different Segments?
The phase change materials market is being influenced by the emergence of bio-based phase change material fabric coatings. Beef tallow and oils from coconut, palm, and soybeans are used to produce these bio-based phase change materials. As an example, Sinomax USA Inc, an American polyurethane comfort products firm, introduced BioFrost cooling technology in September 2022. This is an environmentally friendly phase change material that provides effective cooling and is composed of up to 94% bio-based content. It therefore stands as one of the most sustainable alternatives present in the market. It has the added benefits of improving product washability and compatibility with eco-friendly fabrics and foams, coinciding with consumer preferences for greener sleep solutions and better sustainability in bedding items.

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Which Regions Are Becoming Hubs for Phase Change Materials Market Innovation?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Phase Change Materials Market?
2. What is the CAGR expected in the Phase Change Materials Market?
3. What Are the Key Innovations Transforming the Phase Change Materials Industry?
4. Which Region Is Leading the Phase Change Materials Market?

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