Global Phase Change Material (PCM) Market Growth 2025-2031

The global Phase Change Material (PCM) market size is predicted to grow from US$ 1285 million in 2025 to US$ 1867 million in 2031; it is expected to grow at a CAGR of 6.4% from 2025 to 2031.

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.

LP Information, Inc. (LPI) ' newest research report, the “Phase Change Material (PCM) Industry Forecast” looks at past sales and reviews total world Phase Change Material (PCM) sales in 2024, providing a comprehensive analysis by region and market sector of projected Phase Change Material (PCM) sales for 2025 through 2031. With Phase Change Material (PCM) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Phase Change Material (PCM) industry.

This Insight Report provides a comprehensive analysis of the global Phase Change Material (PCM) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Phase Change Material (PCM) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Phase Change Material (PCM) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Phase Change Material (PCM) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Phase Change Material (PCM).

This report presents a comprehensive overview, market shares, and growth opportunities of Phase Change Material (PCM) market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Organic
Inorganic
Bio-based

Segmentation by Application:
Building & Construction
Refrigeration & Logistics
Textile
Electronics
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
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

Key Questions Addressed in this Report

What is the 10-year outlook for the global Phase Change Material (PCM) market?

What factors are driving Phase Change Material (PCM) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Phase Change Material (PCM) market opportunities vary by end market size?

How does Phase Change Material (PCM) break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.