Press release
Phase Change Materials Market to Reach USD 2,150.2 Million by 2032, Says Stratview Research
Stratview Research
Stratview Research, a global market research firm, has launched a report on the global market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more. This report covers market size and forecast, segmentation across material type, application type, encapsulation technology type, and regions, supporting strategic decision-making for manufacturers, suppliers, OEMs, and investors looking to understand demand dynamics and growth opportunities within energy-efficient material technologies.
Request a free sample report: https://www.stratviewresearch.com/Request-Sample/564/phase-change-materials-market.html#form
MARKET STATISTICS
• Market size (2024): USD 610 million
• Forecast value (2032): USD 2,150.2 million
• CAGR (2025-2032): 17 %
• Forecast period: 2025-2032
• Base year: 2024
• Total number of segments: 3
• Tables & figures: 100+
• Country-Level Market Assessment: 20
MARKET SEGMENTATION
By Type:
• Inorganic PCM
• Organic PCM
• Bio-Based PCM
By Application Type:
• Building & Construction
• HVAC
• Cold Chain & Packaging
• Thermal Energy Storage (TES)
• Refrigeration & Equipment
• Electronics
• Textiles
• Others
By Region:
• North America
• Europe
• Asia-Pacific
• Rest of the World
SEGMENT ANALYSIS
In the Type category, Inorganic PCM accounted for the largest market share due to its superior thermal conductivity, high latent heat of fusion, non-flammability, and lower cost, which enhances its adoption across thermal energy storage, HVAC, cold chain, and refrigeration equipment applications and drives supplier focus on scaling inorganic PCM production.
Under Application Type, the Building & Construction segment dominated as stringent regulations toward greenhouse gas emissions and investment in energy-efficient buildings increase the use of phase change materials for passive thermal regulation, influencing material specification preferences and building design standards.
REGIONAL INSIGHTS
Europe is the largest region in the market because stringent building codes, regulations on temperature-sensitive goods handling, and European Union directives aimed at improving building efficiency structurally drive adoption of phase change materials in construction, cold chain logistics, and energy storage applications, reinforcing Europe's leadership in sustainable material deployment globally.
Asia-Pacific is the fastest-growing region as expanding industrialization, infrastructure development, and rising demand for energy-efficient systems bolster phase change material applications in building, HVAC, and thermal storage, encouraging investments in local PCM manufacturing and technology integration.
MARKET DRIVERS
• Strong demand from building & construction, HVAC, cold chain & packaging, and thermal energy storage industries increases PCM usage due to energy conservation needs.
• Regulatory emphasis on energy efficiency in buildings drives integration of phase change materials into construction standards.
• Growth in logistics and cold chain sectors enhances PCM adoption to maintain temperature safety for perishable goods.
• Rising industrial focus on sustainable and energy-efficient technologies expands PCM utilization across manufacturing and commercial facilities.
• Innovation in encapsulation technology improves PCM performance and broadens application potential in thermal management systems.
Top Companies in the Market
• Honeywell Electronic Materials, Inc.
• Laird PLC.
• Sasol Limited
• Croda International PLC.
• Entropy Solutions LLC
• Microtek Laboratories Inc.
• Pluss Advanced Technologies Pvt. Ltd.
• Phase Change Energy Solutions Inc.
• Rubitherm Technologies GmbH
• Phase Change Materials Products Ltd.
• Outlast Technologies LLC.
• Henkel AG & Company, KGaA
• Cold Chain Technologies, Inc.
FAQs
1.What is the value of the Phase Change Materials market and its expected growth by 2032 ?
The global phase change materials market was valued at USD 610 million in 2024 and is projected to reach USD 2,150.2 million by 2032, driven by thermal energy storage and energy efficiency demand.
2.What is the main driver for the Phase Change Materials market growth ?
Strong demand from building & construction, HVAC, cold chain & packaging, and thermal energy storage industries drives growth as PCMs provide energy conservation and temperature regulation benefits.
3.Which application segment leads the market ?
The building & construction segment dominates due to stringent regulations and investments in energy-efficient building materials, integrating PCMs into passive thermal systems.
4.Why is Europe the largest market for Phase Change Materials ?
Europe leads due to strict energy efficiency mandates, robust building codes, and directives that promote sustainable materials, increasing PCM adoption across applications.
5.What regional trend is notable for Phase Change Materials ?
Asia-Pacific is the fastest-growing region as industrial expansion and infrastructure investments increase the use of PCMs in thermal management, HVAC, and energy storage systems.
Related Links:
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https://www.dr-ay.com/blogs/314950/Specialty-Batteries-Market-Dynamics
Electric Vehicle Ducts Market:
https://heyhey.icu/blogs/499153/EV-Ducts-Market-Overview-Key-Players-and-Global-Insights
Electric Vehicle Fasteners Market:
https://www.omaada.com/blogs/301260/Electric-Vehicle-Fasteners-Enabling-the-Next-Generation-of-Mobility
Electric Vehicle Wire Harness Market:
https://www.exoltech.net/blogs/240986/Electric-Vehicle-Wire-Harness-Industry-Outlook-and-Strategic-Analysis
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https://webyourself.eu/blogs/1736521/Expendable-Countermeasures-Market-Key-Features-Trends-Forecast
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https://www.bundas24.com/blogs/214596/Composites-Industry-Fillers-Market
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Stratview Research is a global market research firm that highly specializes in aerospace & defense, chemicals, and a few other industries.
It launches a limited number of reports annually on the above-mentioned specializations. Thorough analysis and accurate forecasts in this report enable the readers to take convincing business decisions.
Stratview Research has been helping companies meet their global and regional growth objectives by offering customized research services. These include market assessment, due diligence, opportunity screening, voice of customer analysis, market entry strategies, and more.
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