Global Phase Change Materials Market Size Study & Forecast, by Type and Application, and Regional Forecasts 2025–2035

The Global Phase Change Materials (PCM) Market is valued at approximately USD 2.98 billion in 2024 and is poised to grow at a staggering CAGR of 21.00% over the forecast period of 2025 to 2035. Phase change materials—characterized by their ability to absorb, store, and release thermal energy during transitions between physical states—are revolutionizing the way industries manage temperature regulation and energy efficiency. These smart materials are increasingly integrated into high-demand applications like building & construction, HVAC systems, thermal energy storage, electronics, and even advanced textiles, owing to their excellent thermal buffering capabilities.

The surge in global energy efficiency mandates and a rising emphasis on renewable and sustainable energy solutions are major catalysts accelerating the growth of the PCM market. With urban infrastructure modernizing across developed and developing economies alike, builders and manufacturers are compelled to seek intelligent insulation and cooling solutions to mitigate energy wastage. For example, in construction, PCMs integrated into wallboards or insulation panels absorb excess heat during the day and release it at night, thus reducing dependence on HVAC systems. Additionally, their adoption in cold chain logistics is witnessing notable growth due to increasing demand for temperature-sensitive pharmaceutical and food shipments. The wave of technological innovation in encapsulation techniques and bio-based material development further strengthens the market’s value proposition.

From a regional standpoint, North America continues to lead the global phase change materials market, primarily driven by high investments in energy-efficient building technologies, sustainability-focused regulations, and a robust innovation ecosystem. The United States, in particular, has made notable strides in integrating PCM-based systems into both commercial and residential structures. Meanwhile, the Asia Pacific region is forecasted to grow at the fastest pace throughout the projection period, owing to rapid industrialization, expanding urban sprawl, and proactive government initiatives supporting clean energy adoption in countries like China, India, Japan, and South Korea. Europe also remains a significant player, supported by strong environmental policies and ambitious climate-neutral targets set by the European Union.

Major market player included in this report are:
• Phase Change Energy Solutions Inc.
• BASF SE
• Rubitherm Technologies GmbH
• Croda International Plc.
• Honeywell International Inc.
• Sasol Limited
• Halliburton Company
• Pluss Advanced Technologies Pvt. Ltd.
• Chemours Company
• Energain (DuPont)
• PCM Products Ltd.
• Outlast Technologies LLC
• Entropy Solutions LLC
• CSafe Global
• Climator Sweden AB

Global Phase Change Materials Market Report Scope:
• Historical Data – 2023, 2024
• Base Year for Estimation – 2024
• Forecast period – 2025–2035
• Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
• Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values for the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within the countries involved in the study. The report also provides detailed information about crucial aspects, such as driving factors and challenges, which will define the future growth of the market. Additionally, it incorporates potential opportunities in micro-markets for stakeholders to invest, along with a detailed analysis of the competitive landscape and product offerings of key players.

The detailed segments and sub-segments of the market are explained below:

By Type:
• Organic
• Inorganic
• Eutectic

By Application:
• Building & Construction
• HVAC
• Thermal Energy Storage
• Cold Chain Packaging
• Textiles
• Electronics
• Others

By Region:

North America
• U.S.
• Canada

Europe
• UK
• Germany
• France
• Spain
• Italy
• Rest of Europe

Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• Rest of Asia Pacific

Latin America
• Brazil
• Mexico

Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of Middle East & Africa

Key Takeaways:
• Market Estimates & Forecast for 10 years from 2025 to 2035.
• Annualized revenues and regional level analysis for each market segment.
• Detailed analysis of geographical landscape with country-level analysis of major regions.
• Competitive landscape with information on major players in the market.
• Analysis of key business strategies and recommendations on future market approach.
• Analysis of competitive structure of the market.
• Demand side and supply side analysis of the market.

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