Phase change material Market Hits New High | Major Giants- Sasol, Laird, Microtek Laboratories

The latest study released on the Global Phase change material Market by HTF MI evaluates market size, trend, and forecast to 2031. The Phase change material market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.

Key Players in This Report Include: Honeywell Electronic Materials, Inc. (United States), Laird Plc (United Kingdom), Sasol Ltd. (South Africa), Croda International Plc. (United Kingdom), Entropy Solutions LLC (United States), Rubitherm Technologies GmbH (Germany), Phase Change Materials Products Ltd. (United Kingdom), Microtek Laboratories Inc. (United States), Pluss Technologies Pvt. Ltd. (India), Phase Change Energy Solutions Inc. (United States)

According to HTF Market Intelligence, the global Phase change material market is valued at USD 2.2 billion in 2024 and is estimated to reach a revenue of USD 6.5 billion by 2031, with a CAGR of ~19.58% from 2024 to 2031.

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Definition:
Phase change materials (PCMs) are substances that absorb or release significant amounts of latent heat during phase transitions (solid-liquid or vice versa) at specific temperatures. These materials are used in thermal management systems for buildings, electronics, packaging, textiles, and renewable energy storage. PCMs improve energy efficiency by stabilizing temperatures, reducing heating/cooling loads, and storing thermal energy. Common types include paraffin, salt hydrates, and bio-based PCMs. Their ability to passively manage heat makes them essential in sustainability-focused industries.

Market Trends:
Use of bio-based PCMs, integration in smart textiles and electronics, and demand for thermal energy storage in renewable energy sectors.

Market Drivers:
Increased energy efficiency requirements, demand for temperature regulation in buildings, textiles, electronics, and packaging, and sustainable energy solutions.

Market Opportunities:
Emerging demand in EV batteries, cold chain logistics, construction insulation, and wearable tech applications create long-term prospects.

Market Challenges:
High production cost, limited awareness of material benefits, and performance degradation in repetitive cycles hinder wider adoption.

Fastest-Growing Region:
Asia Pacific

Dominating Region:
Europe

Market Leaders & Development Strategies:
In March of 2025, BASF completed the acquisition of PCM startup Entropy Solutions, which will give them a larger portfolio in energy-efficient building products. With this transaction, BASF strengthens its ability to deliver sustainable PCM solutions for the construction, automotive, and packaging industries to propel adoption in applications for thermal regulation.

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The Global Phase change material Market segments and Market Data Break Down are illuminated below:
Phase change material Market is Segmented by Application (Building & Construction, HVAC, Cold Chain & Packaging, TES, Refrigeration & Equipment, Electronics, Textiles, Others) by Type (Organic, Inorganic, Bio-based) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Global Phase change material market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:
• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

Objectives of the Report
• -To carefully analyze and forecast the size of the Phase change material market by value and volume.
• -To estimate the market shares of major segments of the Phase change material
• -To showcase the development of the Phase change material market in different parts of the world.
• -To analyze and study micro-markets in terms of their contributions to the Phase change material market, their prospects, and individual growth trends.
• -To offer precise and useful details about factors affecting the growth of the Phase change material
• -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Phase change material market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

Read Detailed Index of full Research Study: https://www.htfmarketintelligence.com/report/global-phase-change-material-market

Major highlights from Table of Contents:
Phase change material Market Study Coverages:
• It includes major manufacturers, emerging player's growth story, and major business segments of Phase change material market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.
• Phase change material Market Executive Summary: It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• Phase change material Market Production by Region Phase change material Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.

Key Points Covered in Phase change material Market Report:
• Phase change material Overview, Definition and Classification Market drivers and barriers
• Phase change material Market Competition by Manufacturers
• Impact Analysis of COVID-19 on Phase change material Market
• Phase change material Capacity, Production, Revenue (Value) by Region (2024-2031)
• Phase change material Supply (Production), Consumption, Export, Import by Region (2024-2031)
• Phase change material Production, Revenue (Value), Price Trend by Type {Organic, Inorganic, Bio-based}
• Phase change material Manufacturers Profiles/Analysis Phase change material Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

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Key questions answered
• How feasible is Phase change material market for long-term investment?
• What are influencing factors driving the demand for Phase change material near future?
• What is the impact analysis of various factors in the Global Phase change material market growth?
• What are the recent trends in the regional market and how successful they are?

Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

Nidhi Bhawsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketreport.com

About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to enable businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making.

This release was published on openPR.