Advanced Phase Change Material Market, By Type (Organic PCM, Inorganic PCM, Bio-based PCM); By Form (Encapsulated, Non-Encapsulated); By Application (HVAC, Cold Chain & Packaging, Thermal Energy Storage, Electronics, Textiles, Building & Construction, Refrigeration & Equipment, Shipping & Transportation, Others); By Region (North America, Europe, Asia Pacific (APAC), Latin America (LATAM), Middle East and Africa (MEA)), Global Trend Analysis, Competitive Landscape & Forecast, 2019–2030
Global Advanced Phase Change Material Market Size Zooming 2.4X to Touch USD 4.46 Billion by 2030
Global Advanced Phase Change Material (PCM) Market is thriving due to an increasing focus on energy efficiency, sustainable building practices, and growing applications of advanced PCMs in thermal energy storage, HVAC, and packaging sectors.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Advanced Phase Change Material Market size by value at USD 1.86 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Global Advanced Phase Change Material Market size to expand at a CAGR of 13.31% reaching a value of USD 4.46 billion by 2030. Global Advanced Phase Change Material (PCM) Market is driven by the growing demand for energy-efficient and sustainable solutions in building and construction, HVAC, and cold chain logistics. The increasing focus on reducing greenhouse gas emissions and enhancing energy storage capabilities also boosts the market. Technological advancements in PCM formulations, coupled with government initiatives promoting energy conservation, further propel market growth. Additionally, the expanding applications in textiles, electronics, and automotive industries contribute to the market's expansion.
Opportunity – Growing Demand for Energy Efficient Buildings
Global Advanced Phase Change Material (PCM) Market is driven by the increasing demand for energy-efficient buildings. PCMs are widely used in construction materials to enhance thermal regulation, reducing energy consumption for heating and cooling. As governments and industries focus on sustainability and stricter energy efficiency regulations, the adoption of PCMs in green building designs is accelerating. This shift towards energy-efficient infrastructure significantly boosts the demand for advanced PCMs in the construction sector.
Impact of Escalating Geopolitical Tensions on Global Advanced Phase Change Material Market
Escalating geopolitical tensions could significantly impact Global Advanced Phase Change Material Market by disrupting supply chains and increasing material costs due to trade restrictions and tariffs. These tensions may also lead to instability in key raw material-producing regions, causing price volatility and uncertainty in supply. Additionally, shifting political alliances and regulatory changes can hinder market growth, affecting investment decisions and delaying project timelines, ultimately challenging the market's expansion and competitiveness globally.
Building & Construction Holds Largest Share of Market by Application
The building & construction segment is the largest application in Global Advanced Phase Change Material Market. The sector’s dominance is driven by increasing use of advanced PCMs in improving energy efficiency and temperature regulation in buildings. Advanced phase change materials are extensively used in wallboards, insulation panels, and roofing to maintain indoor temperatures, thereby reducing energy consumption. The growing emphasis on sustainable construction and energy conservation further bolsters the demand for phase change materials in this sector. The other major application segments in Global Advanced Phase Change Material Market include HVAC, cold chain & packaging, thermal energy storage, electronics, textiles, refrigeration & equipment, and shipping & transportation.
Competitive Landscape
Global Advanced Phase Change Material Market is fiercely competitive, with numerous companies vying for a larger market share. Major companies in the market include Entropy Solutions LLC, Outlast Technologies LLC, Rubitherm Technologies GmbH, Advansa BV, Croda International Plc, BASF SE, Dow Chemical Company, Henkel AG & Co. KGaA, Microtek Laboratories Inc., Sasol Ltd, Climator Sweden AB, Honeywell International Inc., and PCM Products Ltd. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Global Advanced Phase Change Material Market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Advanced Phase Change Material Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Advanced Phase Change Material Market and industry insights to help decision-makers make sound strategic decisions. Further, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
- 1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
- 2. Executive Summary
- 3. Global Advanced Phase Change Material Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Peak load shifting
- 3.2.1.2. Increasing demand for sustainable solutions
- 3.2.1.3. Advancements in PCM technology
- 3.2.2. Restraints
- 3.2.2.1. High initial investment in PCMs
- 3.2.2.2. Technical Challenges such as phase segregation, leakage, and compatibility with other materials
- 3.2.2.3. Limited Awareness among many industries and consumers
- 3.2.3. Opportunities
- 3.2.3.1. Growing demand for energy-efficient buildings
- 3.2.3.2. Increasing demand for electronics and wearable devices
- 3.2.3.3. Increasing usage in healthcare and medical applications
- 3.2.4. Challenges
- 3.2.4.1. Competition from Traditional Materials
- 3.2.4.2. Ensuring the safety and environmental compatibility of PCMs
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter’s Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
- 4. Global Advanced Phase Change Material Market: Marketing Strategies
- 5. Global Advanced Phase Change Material Market: Pricing Analysis
- 6. Global Advanced Phase Change Material Market: Geography Analysis
- 6.1. Global Advanced Phase Change Material Market, Geographical Analysis, 2023
- 6.2. Global Advanced Phase Change Material, Market Attractiveness Analysis, 2024–2030
- 7. Global Advanced Phase Change Material Market Overview
- 7.1. Market Size & Forecast, 2019–2030
- 7.1.1. By Value (USD Billion)
- 7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.1.1. Organic PCM
- 7.2.1.2. Inorganic PCM
- 7.2.1.3. Bio-based PCM
- 7.2.2. By Form
- 7.2.2.1. Encapsulated
- 7.2.2.2. Non-Encapsulated
- 7.2.3. By Application
- 7.2.3.1. HVAC
- 7.2.3.2. Cold Chain & Packaging
- 7.2.3.3. Thermal Energy Storage
- 7.2.3.4. Electronics
- 7.2.3.5. Textile
- 7.2.3.6. Building & Construction
- 7.2.3.7. Refrigeration & Equipment
- 7.2.3.8. Shipping & Transportation
- 7.2.3.9. Others
- 7.2.4. By Region
- 7.2.4.1. North America
- 7.2.4.2. Europe
- 7.2.4.3. Asia Pacific (APAC)
- 7.2.4.4. Latin America (LATAM)
- 7.2.4.5. Middle East and Africa (MEA)
- 8. North America Advanced Phase Change Material Market
- 8.1. Market Size & Forecast, 2019–2030
- 8.1.1. By Value (USD Billion)
- 8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Form
- 8.2.3. By Application
- 8.2.4. By Country
- 8.2.4.1. United States
- 8.2.4.1.1. By Type
- 8.2.4.1.2. By Form
- 8.2.4.1.3. By Application
- 8.2.4.2. Canada
- 8.2.4.2.1. By Type
- 8.2.4.2.2. By Form
- 8.2.4.2.3. By Application
- 9. Europe Advanced Phase Change Material Market
- 9.1. Market Size & Forecast, 2019–2030
- 9.1.1. By Value (USD Billion)
- 9.2. Market Share & Forecast
- 9.2.1. By Type
- 9.2.2. By Form
- 9.2.3. By Application
- 9.2.4. By Country
- 9.2.4.1. Germany
- 9.2.4.1.1. By Type
- 9.2.4.1.2. By Form
- 9.2.4.1.3. By Application
- 9.2.4.2. United Kingdom
- 9.2.4.2.1. By Type
- 9.2.4.2.2. By Form
- 9.2.4.2.3. By Application
- 9.2.4.3. Italy
- 9.2.4.3.1. By Type
- 9.2.4.3.2. By Form
- 9.2.4.3.3. By Application
- 9.2.4.4. France
- 9.2.4.4.1. By Type
- 9.2.4.4.2. By Form
- 9.2.4.4.3. By Application
- 9.2.4.5. Spain
- 9.2.4.5.1. By Type
- 9.2.4.5.2. By Form
- 9.2.4.5.3. By Application
- 9.2.4.6. Belgium
- 9.2.4.6.1. By Type
- 9.2.4.6.2. By Form
- 9.2.4.6.3. By Application
- 9.2.4.7. Russia
- 9.2.4.7.1. By Type
- 9.2.4.7.2. By Form
- 9.2.4.7.3. By Application
- 9.2.4.8. The Netherlands
- 9.2.4.8.1. By Type
- 9.2.4.8.2. By Form
- 9.2.4.8.3. By Application
- 9.2.4.9. Rest of Europe
- 9.2.4.9.1. By Type
- 9.2.4.9.2. By Form
- 9.2.4.9.3. By Application
- 10. Asia Pacific Advanced Phase Change Material Market
- 10.1. Market Size & Forecast, 2019–2030
- 10.1.1. By Value (USD Billion)
- 10.2. Market Share & Forecast
- 10.2.1. By Type
- 10.2.2. By Form
- 10.2.3. By Application
- 10.2.4. By Country
- 10.2.4.1. China
- 10.2.4.1.1. By Type
- 10.2.4.1.2. By Form
- 10.2.4.1.3. By Application
- 10.2.4.2. India
- 10.2.4.2.1. By Type
- 10.2.4.2.2. By Form
- 10.2.4.2.3. By Application
- 10.2.4.3. Japan
- 10.2.4.3.1. By Type
- 10.2.4.3.2. By Form
- 10.2.4.3.3. By Application
- 10.2.4.4. South Korea
- 10.2.4.4.1. By Type
- 10.2.4.4.2. By Form
- 10.2.4.4.3. By Application
- 10.2.4.5. Australia & New Zealand
- 10.2.4.5.1. By Type
- 10.2.4.5.2. By Form
- 10.2.4.5.3. By Application
- 10.2.4.6. Indonesia
- 10.2.4.6.1. By Type
- 10.2.4.6.2. By Form
- 10.2.4.6.3. By Application
- 10.2.4.7. Malaysia
- 10.2.4.7.1. By Type
- 10.2.4.7.2. By Form
- 10.2.4.7.3. By Application
- 10.2.4.8. Singapore
- 10.2.4.8.1. By Type
- 10.2.4.8.2. By Form
- 10.2.4.8.3. By Application
- 10.2.4.9. Vietnam
- 10.2.4.9.1. By Type
- 10.2.4.9.2. By Form
- 10.2.4.9.3. By Application
- 10.2.4.10. Rest of APAC
- 10.2.4.10.1. By Type
- 10.2.4.10.2. By Form
- 10.2.4.10.3. By Application
- 11. Latin America Advanced Phase Change Material Market
- 11.1. Market Size & Forecast, 2019–2030
- 11.1.1. By Value (USD Billion)
- 11.2. Market Share & Forecast
- 11.2.1. By Type
- 11.2.2. By Form
- 11.2.3. By Application
- 11.2.4. By Country
- 11.2.4.1. Brazil
- 11.2.4.1.1. By Type
- 11.2.4.1.2. By Form
- 11.2.4.1.3. By Application
- 11.2.4.2. Mexico
- 11.2.4.2.1. By Type
- 11.2.4.2.2. By Form
- 11.2.4.2.3. By Application
- 11.2.4.3. Argentina
- 11.2.4.3.1. By Type
- 11.2.4.3.2. By Form
- 11.2.4.3.3. By Application
- 11.2.4.4. Peru
- 11.2.4.4.1. By Type
- 11.2.4.4.2. By Form
- 11.2.4.4.3. By Application
- 11.2.4.5. Rest of LATAM
- 11.2.4.5.1. By Type
- 11.2.4.5.2. By Form
- 11.2.4.5.3. By Application
- 12. Middle East & Africa Advanced Phase Change Material Market
- 12.1. Market Size & Forecast, 2019–2030
- 12.1.1. By Value (USD Billion)
- 12.2. Market Share & Forecast
- 12.2.1. By Type
- 12.2.2. By Form
- 12.2.3. By Application
- 12.2.4. By Country
- 12.2.4.1. Saudi Arabia
- 12.2.4.1.1. By Type
- 12.2.4.1.2. By Form
- 12.2.4.1.3. By Application
- 12.2.4.2. UAE
- 12.2.4.2.1. By Type
- 12.2.4.2.2. By Form
- 12.2.4.2.3. By Application
- 12.2.4.3. Qatar
- 12.2.4.3.1. By Type
- 12.2.4.3.2. By Form
- 12.2.4.3.3. By Application
- 12.2.4.4. Kuwait
- 12.2.4.4.1. By Type
- 12.2.4.4.2. By Form
- 12.2.4.4.3. By Application
- 12.2.4.5. South Africa
- 12.2.4.5.1. By Type
- 12.2.4.5.2. By Form
- 12.2.4.5.3. By Application
- 12.2.4.6. Nigeria
- 12.2.4.6.1. By Type
- 12.2.4.6.2. By Form
- 12.2.4.6.3. By Application
- 12.2.4.7. Algeria
- 12.2.4.7.1. By Type
- 12.2.4.7.2. By Form
- 12.2.4.7.3. By Application
- 12.2.4.8. Rest of MEA
- 12.2.4.8.1. By Type
- 12.2.4.8.2. By Form
- 12.2.4.8.3. By Application
- 13. Competitive Landscape
- 13.1. List of Key Players and Their Offerings
- 13.2. Global Advanced Phase Change Material Company Market Share Analysis, 2023
- 13.3. Competitive Benchmarking, By Operating Parameters
- 13.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
- 14. Impact of Escalating Geopolitical Tensions on Global Advanced Phase Change Material Market
- 15. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
- 15.1. Entropy Solutions LLC
- 15.2. Outlast Technologies LLC
- 15.3. Rubitherm Technologies GmbH
- 15.4. Advansa BV
- 15.5. Croda International Plc
- 15.6. BASF SE
- 15.7. Dow Chemical Company
- 15.8. Henkel AG & Co. KGaA
- 15.9. Microtek Laboratories Inc.
- 15.10. Sasol Ltd
- 15.11. Climator Sweden AB
- 15.12. Honeywell International Inc.
- 15.13. PCM Products Ltd
- 15.14. Other Prominent Players
- 16. Key Strategic Recommendations
- 17. Research Methodology
- 17.1. Qualitative Research
- 17.1.1. Primary & Secondary Research
- 17.2. Quantitative Research
- 17.3. Market Breakdown & Data Triangulation
- 17.3.1. Secondary Research
- 17.3.2. Primary Research
- 17.4. Breakdown of Primary Research Respondents, By Region
- 17.5. Assumptions & Limitations
- *Financial information of non-listed companies can be provided as per availability.
- **The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable
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