Advanced Phase Change Materials (PCM) Market Predicted to Grow at a CAGR of 11.9% from 2025 to 2031 | Honeywell, Cryopak Entropy Solutions Inc., Climator Sweden AB

NEW YORK, (UNITED STATES) - QY Research announces the release of 2025 latest report "Advanced Phase Change Materials (PCM) Market". Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2025-2031), this report provides a comprehensive analysis of the global Advanced Phase Change Materials (PCM) market, including market size, share, demand, industry development status, and forecasts for the next few years.

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The global market for Advanced Phase Change Materials (PCM) was estimated to be worth US$ 1839 million in 2024 and is forecast to a readjusted size of US$ 3997 million by 2031 with a CAGR of 11.9% during the forecast period 2025-2031.

Advanced Phase Change Materials (PCM) Market Overview -

Phase change materials (PCMs) are substances with a high enthalpy of fusion, also known as latent heat, meaning they can store large quantities of heat energy as they change phase. When melting, they absorb heat and maintain the temperature of the environment at a certain value until completely molten. When the temperature of the environment falls below the crystallisation temperature, the PCM will start to solidify, releasing large quantities of heat and maintaining the temperature until completely solid.

Latent heat storage can be achieved through liquid->solid, solid->liquid, solid->gas and liquid->gas phase changes. However, only solid->liquid and liquid->solid phase changes are practical for PCMs. Although liquid-gas transitions have a higher heat of transformation than solid-liquid transitions, liquid->gas phase changes are impractical for thermal storage because large volumes or high pressures are required to store the materials in their gas phase. Solid-solid phase changes are typically very slow and have a relatively low heat of transformation.

Phase change materials are products that release or absorb heat when they change from one phase to another (usually from solid to liquid or vice versa). These materials store thermal energy in the form of latent heat, which is released when they freeze or crystallize and absorbed when they melt at their respective melting/freezing temperature points. Hence, they are used in a broad range of applications that require thermal control and management.

Based on the technology of the material used, advanced PCM are broadly categorized as inorganic PCM, organic PCM and Bio-based PCM.

Currently, The industry concentration is not high, the technical barriers and financial barriers of Advanced Phase Change Materials (PCM) are also not high. The companies in the world that produce Advanced Phase Change Materials (PCM) mainly concentrate in China, India, Southeast Asia, Europe, Japan and USA. Raw materials are also concentrated in these regions. In particular, as the market leader in Advanced Phase Change Materials (PCM), BASF take the global market share of about 9%, other key manufacturers include Honeywell, Cryopak Entropy Solutions Inc., Climator Sweden AB, Phase Change Energy Solutions, Outlast Technologies, Dow Building Solutions, Chemours Company, PCM Energy Ltd and Rubitherm.

Key Growth Drivers -

The growth of the Advanced Phase Change Materials (PCM) Market can be attributed to several key factors. Technological advancements have played a pivotal role in shaping the market, enabling the development of more sophisticated and efficient Advanced Phase Change Materials (PCM) solutions. Additionally, increasing awareness among consumers regarding the benefits of Advanced Phase Change Materials (PCM) products has fueled demand. Furthermore, supportive government policies and regulations have created a favorable environment for market expansion.

Opportunities and Challenges -

Opportunities

The Advanced Phase Change Materials (PCM) Market presents abundant opportunities for stakeholders. The continuous evolution of technology opens doors for the development of novel products and services. Emerging markets, with their growing populations and rising disposable incomes, offer vast potential for market penetration. Additionally, strategic partnerships and collaborations can help businesses expand their reach and capabilities.

Challenges

Despite its growth potential, the Advanced Phase Change Materials (PCM) Market is not without its challenges. Intense competition requires companies to differentiate their offerings and maintain a strong market presence. The need for substantial research and development investments can be a barrier to entry for some players. Furthermore, keeping pace with rapidly changing consumer preferences and technological advancements demands agility and innovation.

Regional Insights :-

The Advanced Phase Change Materials (PCM) Market provides a diverse geographical landscape, with several areas exhibiting unique market characteristics. While some locations see rapid growth due to factors like economic expansion and technical advancements, other regions may experience slower but more consistent market expansion. Market trends vary greatly throughout regions due to factors including cultural influences, legal frameworks, and population developments. Businesses looking to go global must understand these regional differences and adjust their strategy to take advantage of local opportunities.

North America: Market size, growth drivers, and key players.

Europe: Regulatory environment and sustainability initiatives.

Asia-Pacific: Rapid industrialization and demand growth.

Latin America: Emerging markets and opportunities.

Middle East & Africa: Focus on petrochemicals and infrastructure development.

Emerging markets such as Southeast Asia, Eastern Europe, and Africa are identified as high-growth regions, driven by rapid industrialization and urbanization.

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Detailed of Advanced Phase Change Materials (PCM) Market Segmentation:-

Segment by Type:

Organic
Inorganic
Bio-Based

Segment by Application

Building & Construction
Refrigeration
Consumer Goods
Others

Competitive Landscape

The Advanced Phase Change Materials (PCM) Market is highly competitive with both global players and regional startups driving innovation. Key companies are focusing on:

BASF
Honeywell
Cryopak
Entropy Solutions Inc.
Climator Sweden AB
Phase Change Energy Solutions
Outlast Technologies
Dow Building Solutions
Chemours Company
PCM Energy Ltd
Rubitherm Technologies GmbH

Highlights the following key factors: -

Business description - An in-depth description of the businesses and the divisions of the company.

Corporate strategy - Business strategy of the company as summarized by analysts.

SWOT Analysis - An in-depth analysis of the company's advantages, disadvantages, strengths, and threats.

Company history - progression of significant company-related events.

Major products and services - A list of the company's major products, services, and brands.

Key competitors - A list of the primary competitors of the company.

Important locations and subsidiaries - A list of the company's key locations and subsidiaries, along with contact details.

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This release was published on openPR.