Global Construction Industry Growth Fuels Demand For Phase Change Materials Market: Strategic Insights Driving Phase Change Materials Market Momentum in 2025

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How Large Will the Phase Change Materials Market Size By 2025?
In recent years, there has been a swift expansion in the size of the phase change materials market. This market is predicted to rise from $1.84 billion in 2024 to $2.19 billion in 2025, seeing a compound annual growth rate (CAGR) of 19.2%. This growth seen in the previous years is due to factors such as energy-efficient construction of buildings, temperature control in electronic devices, thermal management in preserving food, the increase in green building standards, and the use of energy storage and HVAC applications.

How Big Is the Phase Change Materials Market Size Expected to Grow by 2029?
The market for phase change materials is anticipated to experience a swift expansion in the coming years, reaching $4.24 billion by 2029 with a compound annual growth rate (CAGR) of 18.0%. The predicted upsurge during this period is linked to their inclusion in wearable tech, advanced phase change materials developed for electric vehicles, novelty textiles and clothing, the growth in the data centers and cloud computing sector, and the broadening of renewable energy storage. In the forecast period, main trends include tailor-made phase change materials for specific use, eco-friendly and sustainable pcms, advanced encapsulation technologies, nanomaterial-augmented phase change materials, and amalgamation with IoT and sensor networks.

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Which Key Market Drivers Powering Phase Change Materials Market Expansion and Growth?
The expansion of the construction industry worldwide is instrumental in driving the growth trajectory of the Phase Change Materials (PCM) market in the projected timeline. Phase Change Materials find widespread use in building construction across various components like roofs, floors and electrical appliances. Through storing latent heat during the transition of the materials from solid to liquid, they help in mitigating internal temperature fluctuation. The surging urban population is predicted to escalate the demand for new commercial and residential buildings within the stated forecast period. To illustrate, the Intercontinental Exchange (ICE), a technology firm based in the U.S., estimates that the global construction sector will hit the $8 trillion mark by 2030. Consequently, the prospering construction trade worldwide propels the growth of the phase change materials market.

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Which Fast-Growing Trends Are Poised to Disrupt the Phase Change Materials Market?
The phase change materials market is being transformed by the advent of bio-based phase change material fabric coatings. These bio-based phase change materials are produced from bio-based commodities such as beef tallow or oils derived from coconuts, palms, and soybeans. For instance, Sinomax USA Inc., a company based in the US that specializes in polyurethane comfort products, unveiled BioFrost cooling technology in September 2022. This sustainable phase change material provides effective cooling and consists of up to 94% bio-based substance, placing it among the most environment-friendly options on the market. Moreover, it enhances the washability of the product and can be used in conjunction with sustainable fabrics and foams, catering to consumer preferences for cleaner sleeping areas and increased sustainability in bedding items.

What Are the Emerging Segments in 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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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the Phase Change Materials Industry?
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.

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