Phase Change Materials Market Global Demand Analysis and Forecast 2026 to 2035

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 2034"

The Phase Change Materials Market is valued at USD 630.0 Mn in 2024 and is estimated to reach over USD 2938.1 Mn by the year 2034, exhibiting a CAGR of 16.8% during the forecast period.

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Phase change materials (PCMs) are specialized substances that undergo phase transitions-most commonly between solid and liquid states-absorbing or releasing significant amounts of latent heat in the process. This thermal energy exchange facilitates effective temperature regulation, and in certain instances, PCMs may transition between distinct crystalline structures, each associated with specific energy levels.

The global PCM market is poised for substantial growth, driven primarily by increasing demand across the construction and packaging industries. In construction, PCMs are integrated into energy-efficient solutions such as waste heat recovery systems, solar water heating, and space heating and cooling applications. The ongoing expansion of the global construction sector, alongside the incorporation of PCMs into Heating, Ventilation, and Air Conditioning (HVAC) systems, is expected to further accelerate market development.

Additionally, the utilization of PCMs for photovoltaic (PV) module cooling is gaining prominence. Their ability to store and release latent heat within precise temperature ranges enhances passive cooling efficiency, improving both the performance and operational lifespan of PV panels.

The rising demand for cold chain logistics represents another key growth driver. Temperature-sensitive products-including pharmaceuticals, biological materials, and clinical trial specimens-require stringent thermal management to maintain quality and efficacy. The increasing need for reliable cold chain solutions, particularly for the distribution of COVID-19 vaccines and other sensitive biopharmaceuticals, is anticipated to create significant opportunities for PCM manufacturers in the coming years.

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 global phase change materials (PCM) market is primarily propelled by their growing adoption in advanced thermal management systems. PCMs enhance energy efficiency by stabilizing indoor temperatures in buildings, leveraging diurnal temperature fluctuations to initiate phase transitions during which substantial amounts of energy are absorbed or released. This reduces dependency on conventional heating and cooling systems while optimizing overall energy consumption.

In addition, PCMs have significant applications in the pharmaceutical and biotechnology sectors, particularly for drug delivery. Substances such as fatty acids and oils are commonly utilized as encapsulating agents, offering sustainable, reusable, and equipment-independent solutions. PCMs are also critical in cold chain logistics, ensuring stable temperature control during the transport and storage of vaccines. Innovations in biotechnology are increasingly harnessing PCMs for temperature-sensitive drug delivery systems, enabling controlled release of therapeutic compounds.

Challenges:
Despite favorable growth prospects, the market faces technical limitations that hinder widespread adoption. Low thermal conductivity, phase separation, and supercooling can compromise PCM performance and durability, especially in construction applications. Inorganic PCMs, such as salt hydrates and polypropylene-based materials, are susceptible to corrosion, thermal instability, and supercooling, increasing maintenance demands and reducing operational lifespan. These performance constraints present significant barriers for large-scale infrastructure deployment, thereby restricting overall market expansion.

Regional Trends:
Europe currently represents the largest share of the global PCM market, accounting for approximately 40% of total revenue. The region's strong emphasis on sustainable construction and energy-efficient materials is expected to continue driving market growth. Regulatory frameworks, such as those established by the Scandinavian Federation of Heating, Ventilation, and Sanitary Engineering Associations (SCANVAC) across Denmark, Finland, Iceland, Norway, and Sweden, actively promote the adoption of energy-efficient technologies, including PCMs, within the built environment. Germany, as a leading producer and exporter of phase change materials, is anticipated to play a pivotal role in sustaining Europe's dominant 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.