Summary

Phase Change Materials Market Size
The global phase change materials market size was valued at $617.49 million in 2024 and is projected to reach $1,625.03 million by 2030, growing at a CAGR of 17.5% during the forecast period.

Phase Change Materials Market Overview
Phase change materials (PCMs) are substances that absorb and release thermal energy during the process of changing their physical state, typically between solid and liquid phases. When a PCM melts, it absorbs a significant amount of heat from the environment, and when it solidifies, it releases that stored heat. This thermal energy storage capability allows PCMs to maintain a stable temperature within a specific range, making them highly effective for thermal management applications. PCMs are used in various industries, including building and construction for temperature regulation, in thermal energy storage systems, in electronic devices to prevent overheating, and in medical applications for temperature-sensitive transport. They can be organic, such as paraffin waxes, inorganic like salt hydrates, or eutectic mixtures that combine both types. The ability of PCMs to store and release large amounts of energy enhances energy efficiency and contributes to sustainability in numerous applications.

Phase Change Materials Market Dynamics
• The phase change materials market is expected to witness significant growth in the future due to the growing demand for energy-efficient solutions, increasing use in building and construction for thermal management, and the advancements in thermal energy storage technologies.
• Additionally, the rising awareness of climate change and sustainability and expansion of cold chain logistics and temperature-sensitive transportationare the prominent factors driving the growth of the phase change materials market.
• However, the high initial costs of phase change materials, limited thermal conductivity of some PCMs, and the technical challenges in integrating PCMs into productsare restraining the market growth.
• On the contrary, the increasing adoption in renewable energy systems, innovations in packaging and encapsulation methods, and the growing use in the healthcare and pharmaceutical sectors are creating opportunities for market growth.

By Application, the Cold Chain & Packaging Segment is projected to be the Largest Segment in the Phase Change Materials Market
The cold chain & packaging segment emerges as the largest segment in the phase change materials market during the forecast period due to their ability to maintain stable temperatures during transportation and storage, ensuring the safety and quality of temperature-sensitive products. PCMs can absorb and release thermal energy, providing a buffer against temperature fluctuations, which is crucial for preserving the integrity of pharmaceuticals, food, and other perishable goods. Their use in packaging solutions helps to extend the shelf life of products, reduce spoilage, and enhance the efficiency of cold chain logistics. With increasing global trade and the expansion of e-commerce, there is a heightened need for reliable temperature control throughout the supply chain. Additionally, the rising awareness of food safety and the stringent regulations surrounding the transportation of pharmaceuticals and vaccines are driving the adoption of advanced PCM-based packaging solutions. These materials offer a sustainable and effective way to address the challenges of maintaining consistent temperatures, thereby enhancing the reliability and efficiency of cold chain systems.

By Geography, Europe Region Holds the Dominant Position in the Market Revenue
Europe region maintains a commanding lead in market revenue due to the stringent energy efficiency and environmental regulations, driving the adoption of PCMs in building and construction to enhance energy performance and reduce carbon emissions. The region's focus on sustainability and renewable energy sources has led to increased use of PCMs in thermal energy storage systems, which are crucial for balancing supply and demand in renewable energy grids. Additionally, the advanced healthcare sector in Europe requires reliable temperature control for the transportation and storage of pharmaceuticals, vaccines, and other temperature-sensitive products, further boosting the demand for PCMs. The expansion of the cold chain logistics industry, driven by growing e-commerce and international trade, also contributes to the rising need for effective thermal management solutions. Moreover, Europe’s commitment to innovative research and development supports the advancement and adoption of new PCM technologies, enhancing their applications across various industries and solidifying their market growth in the region.

Key Target Audience:
• PCM Manufacturers
• Building and Construction Companies
• Renewable Energy Providers
• Cold Chain Logistics Companies
• Healthcare and Pharmaceutical Companies
• Electronics and IT Companies
• Packaging Industry
• Automotive Manufacturers
• Research and Development Institutions
• Regulatory and Government Bodies

List of the Key Players Profiled in the Report Includes:
• Cold Chain Technologies, Inc
• Croda International Plc
• DuPont de Nemours, Inc
• Henkel AG & Company KGAA
• Honeywell Electronic Materials, Inc
• Microtek Laboratories Inc
• Outlast Technologies LLC
• Phase Change Materials Products Ltd
• PureTemp LLC
• Rubitherm Technologies GmbH
• Sasol Limited
• Climator Sweden AB
• BioLife Solutions

Recent Developments:
• In March 2023, BioLife Solutions introduced Ultraguard, the first-ever non-toxic, non-hazardous, and non-flammable phase change material (PCM) designed for ultra-low temperature (ULT) protection at -70°C. Ultraguard is currently utilized in two primary applications: providing temperature holdover for ULT freezers during power outages and serving as an alternative to dry ice for benchtop biological material storage.

Market Segmentation:
The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type:
• Organic
• Inorganic
• Eutectic

Market by, Application:
• Building & Construction
• Cold Chain & Packaging
• Heating, Ventilation, and Air Conditioning (HVAC)
• Electronics
• Refrigeration & Equipment
• Textiles
• Thermal Energy Storage
• Other Applications

Market by, Geography:
The phase change materials market report also analyzes the major geographic regions and countries of the market. The regions and countries covered in the study include:
• North America (The United States, Canada, Mexico), Market Estimates, Forecast & Opportunity Analysis
• Europe (Germany, France, UK, Italy, Spain, Rest of Europe), Market Estimates, Forecast & Opportunity Analysis
• Asia Pacific (China, Japan, India, South Korea, Australia, New Zealand, Rest of Asia Pacific), Market Estimates, Forecast & Opportunity Analysis
• South America (Brazil, Argentina, Chile, Rest of South America), Market Estimates, Forecast & Opportunity Analysis
• Middle East & Africa (UAE, Saudi Arabia, Qatar, Iran, South Africa, Rest of Middle East & Africa), Market Estimates, Forecast & Opportunity Analysis

Scope of the Report:
The report “Global Phase Change Materials Market: Industry Analysis, Opportunities and Forecast up to 2030” by Diligence Insights provides a detailed analysis of the present market and future outlook with market estimates and forecasts for all specified segments, encompassing both global and regional perspectives as outlined within the research framework. The study includes historical market data for the years 2022, 2023 and offers revenue estimations for 2024, and project forecasts spanning from 2025 to 2030. It places significant emphasis on the examination of market trends, key industry participants, supply chain developments, technological advancements, pivotal milestones, and prospective strategies. Comprehensive market assessments are carried out across major geographic regions, including North America, Europe, Asia Pacific, South America, and Middle East & Africa. As such, this report constitutes a valuable resource for current industry stakeholders, newcomers to the field, and potential investors.

The study offers an in-depth market analysis, drawing insights from industry experts across the value chain. A special focus has been made on 25 countries, including the United States, Canada, Mexico, the United Kingdom, Germany, Spain, France, Italy, China, Brazil, Saudi Arabia, and South Africa, among others. The market data has been meticulously collected through extensive primary interviews and comprehensive secondary research. Market size determination is rooted in the revenue generated from sales across all the specified segments and sub-segments as defined within the research scope. The market sizing analysis includes both top-down and bottom-up approaches for data validation and accuracy measures.

The report offers insights into the following aspects:
• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

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Table of Contents

1 Market Introduction
1.1 Market Definition
1.2 Research Scope and Segmentation
1.3 Stakeholders
1.4 List of Abbreviations

2 Executive Summary

3 Research Methodology
3.1 Identification of Data
3.2 Data Analysis
3.3 Verification
3.4 Data Sources
3.5 Assumptions

4 Market Dynamics
4.1 Market Drivers
4.2 Market Restraints
4.3 Market Opportunities
4.4 Market Challenges

5 Porter's Five Force Analysis
5.1 Bargaining Power of Suppliers
5.2 Bargaining Power of Buyers
5.3 Threat of New Entrants
5.4 Threat of Substitutes
5.5 Competitive Rivalry in the Market

6 Global Phase Change Materials Market by, Type
6.1 Overview
6.2 Organic
6.2.1 Paraffin
6.2.2 Bio-based
6.3 Inorganic
6.4 Eutectic

7 Global Phase Change Materials Market by, Application
7.1 Overview
7.2 Building & Construction
7.3 Cold Chain & Packaging
7.4 Heating, Ventilation, and Air Conditioning (HVAC)
7.5 Electronics
7.5.1 Phase Change Memory (PCRAM)
7.5.2 Thermal Interface Material
7.6 Refrigeration & Equipment
7.7 Textiles
7.8 Thermal Energy Storage
7.8.1 Boiler/Power Plant
7.8.2 Solar Energy Storage
7.8.3 Geothermal Energy Storage
7.9 Other Applications
7.9.1 Automotive
7.9.2 Healthcare
7.9.3 Telecommunication

8 Global Phase Change Materials Market by, Geography
8.1 Overview
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 France
8.3.3 UK
8.3.4 Italy
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 South Korea
8.4.5 Australia
8.4.6 New Zealand
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Brazil
8.5.2 Argentina
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 UAE
8.6.2 Saudi Arabia
8.6.3 Qatar
8.6.4 Iran
8.6.5 South Africa
8.6.6 Rest of Middle East & Africa

9 Key Developments

10 Company Profiling
10.1 Cold Chain Technologies, Inc
10.1.1 Business Overview
10.1.2 Product/Service Offering
10.1.3 Financial Overview
10.1.4 SWOT Analysis
10.1.5 Key Activities
10.2 Croda International Plc
10.3 DuPont de Nemours, Inc
10.4 Henkel AG & Company KGAA
10.5 Honeywell Electronic Materials, Inc
10.6 Microtek Laboratories Inc
10.7 Outlast Technologies LLC
10.8 Phase Change Materials Products Ltd
10.9 PureTemp LLC
10.10 Rubitherm Technologies GmbH
10.11 Sasol Limited
10.12 Climator Sweden AB
10.13 BioLife Solutions