Global Phase Change Material (PCM) Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

Global Phase Change Material (PCM) Market 2025 by Manufacturers, Regions, Type and Application, Forecast to 2031

According to our (Global Info Research) latest study, the global Phase Change Material (PCM) market size was valued at US$ 1218 million in 2024 and is forecast to a readjusted size of USD 1922 million by 2031 with a CAGR of 6.0% during review period.

A phase change material (PCM) is a substance with a high heat of fusion which, melting and solidifying at a certain temperature, is capable of storing and releasing large amounts of energy. Heat is absorbed or released when the material changes from solid to liquid and vice versa; thus, PCMs are classified as latent heat storage (LHS) units.

Key players operating in the Phase Change Material market are Henkel AG & Company, Honeywell, Croda International, Sasol Germany GmbH, Microtek Laboratories Inc, etc. Top 5 companies accouted for a combined market share about 42% of the world total. Henkel AG & Company, with a share of 17%, was the largest manufacturer among those companies. Europe is now the world's biggest producer and largest exporter of Phase Change Material, with approximately 31% of the global share.

The drivers of the phase change material market mainly include the following aspects:

Policy and regulatory drive

Greenhouse gas emission reduction regulations:

As the world's attention to greenhouse gas emissions continues to increase, governments have introduced relevant regulations to limit carbon emissions. Phase change materials have become one of the important materials that meet these regulatory requirements due to their unique advantages in energy saving and emission reduction.

For example, strict carbon emission regulations in Europe have driven the growth of demand for phase change materials in construction and building applications.

Green building policy:

The government promotes the development of green buildings and encourages the use of energy-saving and environmentally friendly materials and technologies. Phase change materials have become an indispensable part of green buildings due to their efficient thermal energy storage and release capabilities.

For example, Furmo's investment and development in smart and green building projects has driven the growth of the phase change material market.

Technological progress and innovation

Preparation process improvement:

With the advancement of science and technology, the preparation process of inorganic advanced phase change materials has been continuously improved, improving their performance and stability.

The research and development of new materials is also constantly advancing, such as low-melting-point alloys and other potential phase change heat storage materials are constantly being explored and applied.

Performance improvement: Through technological innovation, the key properties of phase change materials such as heat storage capacity, thermal conductivity, and chemical stability have been significantly improved. For example, by adding thermally conductive fillers or designing composite materials, the thermal conductivity efficiency of inorganic phase change materials has been improved. Market demand growth Building energy-saving demand: As people's requirements for building energy saving and comfort increase, the application of phase change materials in the construction field has gradually increased. For example, using phase change materials in building walls, roofs or water tanks can effectively absorb and release heat, adjust indoor temperature, and reduce energy consumption of air conditioning and heating equipment. Cold chain cold storage demand: As a high-energy-consuming field, cold chain cold storage has an urgent need for energy saving and cost reduction. The application of phase change materials can effectively achieve energy saving and cost reduction, such as storing cold air during night operation of the unit and releasing it during the day to take advantage of the peak-valley electricity price difference. Electronic equipment thermal management demand: In electronic equipment, phase change materials can be used for thermal management, absorbing heat generated during the operation of the equipment and releasing it when needed to prevent the equipment from overheating. Social factors drive environmental awareness improvement: With the popularization and improvement of environmental awareness, consumers' demand for energy-saving and environmentally friendly products continues to grow. Phase change materials are favored for their environmentally friendly properties.

Sustainable development concept:

The concept of sustainable development has been deeply rooted in people's hearts, driving the growth of demand for energy-saving and environmentally friendly technologies and materials in all walks of life. As one of the important representatives of energy-saving and environmentally friendly materials, the market demand for phase change materials continues to grow.

In summary, the driving factors of the phase change material market mainly include policy and regulatory drive, technological progress and innovation, market demand growth, and social factors. These factors jointly promote the rapid development of the phase change material market.

This report is a detailed and comprehensive analysis for global Phase Change Material (PCM) market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2025, are provided.

Key Features:

Global Phase Change Material (PCM) market size and forecasts, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Ton), 2020-2031

Global Phase Change Material (PCM) market size and forecasts by region and country, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Ton), 2020-2031

Global Phase Change Material (PCM) market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (Tons), and average selling prices (US$/Ton), 2020-2031

Global Phase Change Material (PCM) market shares of main players, shipments in revenue ($ Million), sales quantity (Tons), and ASP (US$/Ton), 2020-2025

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Phase Change Material (PCM)

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Phase Change Material (PCM) market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Henkel AG & Company, Honeywell, Croda International, Sasol Germany GmbH, Microtek Laboratories Inc, DuPont and Dow, Parker, Laird PLC, Phase Change Energy Solutions, Cryopak, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Phase Change Material (PCM) market is split by Type and by Application. For the period 2020-2031, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
Organic
Inorganic
Bio-based

Market segment by Application
Building & Construction
Refrigeration & Logistics
Textile
Electronics
Others

Major players covered
Henkel AG & Company
Honeywell
Croda International
Sasol Germany GmbH
Microtek Laboratories Inc
DuPont and Dow
Parker
Laird PLC
Phase Change Energy Solutions
Cryopak
SGL Carbon
Rubitherm Technologies GmbH
Cold Chain Technologies, Inc
PLUSS Advanced Technologies
Outlast Technologies

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Phase Change Material (PCM) product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Phase Change Material (PCM), with price, sales quantity, revenue, and global market share of Phase Change Material (PCM) from 2020 to 2025.

Chapter 3, the Phase Change Material (PCM) competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Phase Change Material (PCM) breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2020 to 2031.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2020 to 2031.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2020 to 2025.and Phase Change Material (PCM) market forecast, by regions, by Type, and by Application, with sales and revenue, from 2026 to 2031.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Phase Change Material (PCM).

Chapter 14 and 15, to describe Phase Change Material (PCM) sales channel, distributors, customers, research findings and conclusion.