Phase Change Materials Market Dynamics and Regional Insights Highlighting Europe's Leadership and Technological Challenges

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Phase Change Materials Market Size, Share & Trends Analysis Report By Type (Paraffin, Salt Hydrates, Eutectics, Non-Paraffin), Application (Building And Construction, Energy Storage, HVAC, Shipping And Transportation, Electronics, Cold Chain And Packing, Ventilation, Commercial Refrigeration, Textiles) - Market Outlook And Industry Analysis 2031"

The Phase Change Materials Market is valued at 2.40 billion in 2023 and is estimated to reach over USD 9.10 billion by 2031, exhibiting a CAGR of 18.30% during the forecast period.

Global Phase Change Materials Market 2025-2034 full Research Repot latest version is now available.

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A phase change material (PCM) is a substance that undergoes a phase transition, typically between solid and liquid states, absorbing or releasing substantial amounts of energy during this process to facilitate efficient thermal regulation. In certain cases, phase changes may occur between distinct crystalline structures, each characterized by unique energy levels.

The PCM market is poised for significant expansion, primarily driven by rising demand from the construction and packaging industries. Within the construction sector, PCMs are increasingly employed in applications such as waste heat recovery, solar water heating, and space heating and cooling systems. The ongoing growth of global construction activities, coupled with the growing incorporation of PCMs in Heating, Ventilation, and Air Conditioning (HVAC) systems, is expected to support robust market development in the coming years.

Moreover, PCMs are gaining traction in photovoltaic (PV) panel cooling solutions that leverage passive cooling techniques. Their capacity to absorb, store, and release considerable latent heat within a targeted temperature range makes them highly effective for enhancing the performance and efficiency of PV modules.

The expanding demand for cold chain logistics also represents a significant growth avenue for the PCM market. The transportation and storage of temperature-sensitive products-including pharmaceuticals, blood, tissue samples, and clinical trial materials-require stringent temperature control to ensure product quality and safety. Additionally, the distribution and storage of COVID-19 vaccines and other delicate pharmaceuticals necessitate dependable cold chain management solutions. This escalating need for specialized cold chain capabilities is anticipated to generate substantial opportunities for PCM manufacturers in the near term.

List of Prominent Players in the Phase Change Materials Market
• Henkel AG & Co. KGaA
• Honeywell International.Inc.
• Croda International Plc
• PureTemp LLC
• Laird Technologies, Inc.
• Rubitherm Technologies GmbH
• PCM Products Ltd
• Climator Sweden AB
• Cryopak
• Shin-Etsu Chemicals Co.,Ltd.
• PLUSS
• Phase Change Products Pty.Ltd
• Microtek Laboratories Inc.
• Shanghai Tempered Entropy New Energy Co., Ltd
• Phase Change Solutions
• Sasol
• Axiotherm GmbH
• Hangzhou New Material Technology Co., Ltd. ('RuhrTech')
• Rovilus

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Market Dynamics
Drivers:
The expansion of the phase change materials (PCM) market is chiefly driven by their growing application in efficient temperature management solutions. PCMs enable buildings to stabilize indoor temperatures by harnessing daily thermal variations to initiate phase transitions, during which energy is absorbed and released. This mechanism reduces reliance on conventional heating and cooling systems, thereby improving overall energy efficiency.

In addition, PCMs are extensively employed within the pharmaceutical and biotechnology sectors, particularly for drug delivery systems. Materials such as fatty acids and oils, frequently used as encapsulating agents in these applications, offer renewable, reusable, and equipment-independent solutions. Furthermore, PCMs play a vital role in vaccine transportation and storage by maintaining consistent temperature conditions. Ongoing biotechnological advancements focus on enhancing temperature-controlled drug delivery, with PCMs serving as an effective medium to regulate medication release.

Challenges:
Despite promising growth prospects, the PCM market faces several obstacles that impede broader adoption. Technical issues-including low thermal conductivity, phase segregation, and supercooling-can adversely affect PCM durability and efficiency, especially in construction applications. Inorganic PCMs, such as salt hydrates and polypropylene, are prone to corrosion, instability, and supercooling phenomena, which can increase maintenance requirements and shorten operational lifespan. These limitations present significant challenges, particularly for large-scale infrastructure projects, thereby restraining market growth.

Regional Trends:
Europe currently commands the largest share of the PCM market, accounting for roughly 40% of global revenue. The region's strong commitment to sustainable materials is anticipated to further propel market expansion. Regulatory authorities, including the Scandinavian Federation of Heating, Ventilation, and Sanitary Engineering Associations (SCANVAC) spanning Denmark, Finland, Iceland, Norway, and Sweden, have enacted initiatives supporting energy-efficient building technologies that incorporate phase change materials. Germany, recognized as a major producer and exporter of PCMs, is expected to be instrumental in sustaining Europe's leading position in the global market.

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Recent Developments:
• In September 2022, Sinomax USA introduced the first foam bedding made with a bio-based phase change material. Washability is one of the many important aspects that this foam mattress technology solves. Bio Frost is the phase change material. This type of technology has up to 94 % biobased content and is approved by the USDA Bio preferred program. In comparison to its other PCMs, Biofrost has a significantly higher cooling capacity, lasts longer, and costs less.
• In July 2019, Croda International unveiled a microencapsulated type of bio-based phase change material. This item has temperature control capabilities for use in bedding, mattresses, clothing, and other implementations.
• In January 2019, PureTem LLC, a top provider of consumer and industrial applications, announced the creation of a fabric coating. According to the manufacturer, the product works well as an insulator against changes in ambient temperature.

Segmentation of Phase Change Materials Market
By Application
• Building and Construction,
• Heating, Ventilation (HVAC) and Air Conditioning (HVAC) Systems
• Energy Storage Management
• Commercial Refrigeration,
• Cold Chain and Packaging,
• Textiles
• Others
By type
• Paraffin
• Salt Hydrates
• Eutectics
• Non-Paraffin
• Others
By Region-
• North America-
• The US
• Canada
• Mexico
• Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
• Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
• Latin America-
• Brazil
• Argentina
• Rest of Latin America
• Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

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This release was published on openPR.