The global Phase Change Material (PCM) market size was valued at US$ 1352 million in 2024 and is forecast to a readjusted size of USD 2029 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.
Please Note - This is an on demand report and will be delivered in 2 business days (48 Hours) post payment.
1 Market Overview
1.1 Product Overview and Scope
1.2 Market Estimation Caveats and Base Year
1.3 Market Analysis by Type
1.3.1 Overview: Global Phase Change Material (PCM) Consumption Value by Type: 2020 Versus 2024 Versus 2031
1.3.2 Organic
1.3.3 Inorganic
1.3.4 Bio-based
1.4 Market Analysis by Application
1.4.1 Overview: Global Phase Change Material (PCM) Consumption Value by Application: 2020 Versus 2024 Versus 2031
1.4.2 Building & Construction
1.4.3 Refrigeration & Logistics
1.4.4 Textile
1.4.5 Electronics
1.4.6 Others
1.5 Global Phase Change Material (PCM) Market Size & Forecast
1.5.1 Global Phase Change Material (PCM) Consumption Value (2020 & 2024 & 2031)
1.5.2 Global Phase Change Material (PCM) Sales Quantity (2020-2031)
1.5.3 Global Phase Change Material (PCM) Average Price (2020-2031)
2 Manufacturers Profiles
2.1 Henkel AG & Company
2.1.1 Henkel AG & Company Details
2.1.2 Henkel AG & Company Major Business
2.1.3 Henkel AG & Company Phase Change Material (PCM) Product and Services
2.1.4 Henkel AG & Company Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.1.5 Henkel AG & Company Recent Developments/Updates
2.2 Honeywell
2.2.1 Honeywell Details
2.2.2 Honeywell Major Business
2.2.3 Honeywell Phase Change Material (PCM) Product and Services
2.2.4 Honeywell Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.2.5 Honeywell Recent Developments/Updates
2.3 Croda International
2.3.1 Croda International Details
2.3.2 Croda International Major Business
2.3.3 Croda International Phase Change Material (PCM) Product and Services
2.3.4 Croda International Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.3.5 Croda International Recent Developments/Updates
2.4 Sasol Germany GmbH
2.4.1 Sasol Germany GmbH Details
2.4.2 Sasol Germany GmbH Major Business
2.4.3 Sasol Germany GmbH Phase Change Material (PCM) Product and Services
2.4.4 Sasol Germany GmbH Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.4.5 Sasol Germany GmbH Recent Developments/Updates
2.5 Microtek Laboratories Inc
2.5.1 Microtek Laboratories Inc Details
2.5.2 Microtek Laboratories Inc Major Business
2.5.3 Microtek Laboratories Inc Phase Change Material (PCM) Product and Services
2.5.4 Microtek Laboratories Inc Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.5.5 Microtek Laboratories Inc Recent Developments/Updates
2.6 DuPont and Dow
2.6.1 DuPont and Dow Details
2.6.2 DuPont and Dow Major Business
2.6.3 DuPont and Dow Phase Change Material (PCM) Product and Services
2.6.4 DuPont and Dow Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.6.5 DuPont and Dow Recent Developments/Updates
2.7 Parker
2.7.1 Parker Details
2.7.2 Parker Major Business
2.7.3 Parker Phase Change Material (PCM) Product and Services
2.7.4 Parker Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.7.5 Parker Recent Developments/Updates
2.8 Laird PLC
2.8.1 Laird PLC Details
2.8.2 Laird PLC Major Business
2.8.3 Laird PLC Phase Change Material (PCM) Product and Services
2.8.4 Laird PLC Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.8.5 Laird PLC Recent Developments/Updates
2.9 Phase Change Energy Solutions
2.9.1 Phase Change Energy Solutions Details
2.9.2 Phase Change Energy Solutions Major Business
2.9.3 Phase Change Energy Solutions Phase Change Material (PCM) Product and Services
2.9.4 Phase Change Energy Solutions Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.9.5 Phase Change Energy Solutions Recent Developments/Updates
2.10 Cryopak
2.10.1 Cryopak Details
2.10.2 Cryopak Major Business
2.10.3 Cryopak Phase Change Material (PCM) Product and Services
2.10.4 Cryopak Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.10.5 Cryopak Recent Developments/Updates
2.11 SGL Carbon
2.11.1 SGL Carbon Details
2.11.2 SGL Carbon Major Business
2.11.3 SGL Carbon Phase Change Material (PCM) Product and Services
2.11.4 SGL Carbon Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.11.5 SGL Carbon Recent Developments/Updates
2.12 Rubitherm Technologies GmbH
2.12.1 Rubitherm Technologies GmbH Details
2.12.2 Rubitherm Technologies GmbH Major Business
2.12.3 Rubitherm Technologies GmbH Phase Change Material (PCM) Product and Services
2.12.4 Rubitherm Technologies GmbH Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.12.5 Rubitherm Technologies GmbH Recent Developments/Updates
2.13 Cold Chain Technologies, Inc
2.13.1 Cold Chain Technologies, Inc Details
2.13.2 Cold Chain Technologies, Inc Major Business
2.13.3 Cold Chain Technologies, Inc Phase Change Material (PCM) Product and Services
2.13.4 Cold Chain Technologies, Inc Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.13.5 Cold Chain Technologies, Inc Recent Developments/Updates
2.14 PLUSS Advanced Technologies
2.14.1 PLUSS Advanced Technologies Details
2.14.2 PLUSS Advanced Technologies Major Business
2.14.3 PLUSS Advanced Technologies Phase Change Material (PCM) Product and Services
2.14.4 PLUSS Advanced Technologies Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.14.5 PLUSS Advanced Technologies Recent Developments/Updates
2.15 Outlast Technologies
2.15.1 Outlast Technologies Details
2.15.2 Outlast Technologies Major Business
2.15.3 Outlast Technologies Phase Change Material (PCM) Product and Services
2.15.4 Outlast Technologies Phase Change Material (PCM) Sales Quantity, Average Price, Revenue, Gross Margin and Market Share (2020-2025)
2.15.5 Outlast Technologies Recent Developments/Updates
3 Competitive Environment: Phase Change Material (PCM) by Manufacturer
3.1 Global Phase Change Material (PCM) Sales Quantity by Manufacturer (2020-2025)
3.2 Global Phase Change Material (PCM) Revenue by Manufacturer (2020-2025)
3.3 Global Phase Change Material (PCM) Average Price by Manufacturer (2020-2025)
3.4 Market Share Analysis (2024)
3.4.1 Producer Shipments of Phase Change Material (PCM) by Manufacturer Revenue ($MM) and Market Share (%): 2024
3.4.2 Top 3 Phase Change Material (PCM) Manufacturer Market Share in 2024
3.4.3 Top 6 Phase Change Material (PCM) Manufacturer Market Share in 2024
3.5 Phase Change Material (PCM) Market: Overall Company Footprint Analysis
3.5.1 Phase Change Material (PCM) Market: Region Footprint
3.5.2 Phase Change Material (PCM) Market: Company Product Type Footprint
3.5.3 Phase Change Material (PCM) Market: Company Product Application Footprint
3.6 New Market Entrants and Barriers to Market Entry
3.7 Mergers, Acquisition, Agreements, and Collaborations
4 Consumption Analysis by Region
4.1 Global Phase Change Material (PCM) Market Size by Region
4.1.1 Global Phase Change Material (PCM) Sales Quantity by Region (2020-2031)
4.1.2 Global Phase Change Material (PCM) Consumption Value by Region (2020-2031)
4.1.3 Global Phase Change Material (PCM) Average Price by Region (2020-2031)
4.2 North America Phase Change Material (PCM) Consumption Value (2020-2031)
4.3 Europe Phase Change Material (PCM) Consumption Value (2020-2031)
4.4 Asia-Pacific Phase Change Material (PCM) Consumption Value (2020-2031)
4.5 South America Phase Change Material (PCM) Consumption Value (2020-2031)
4.6 Middle East & Africa Phase Change Material (PCM) Consumption Value (2020-2031)
5 Market Segment by Type
5.1 Global Phase Change Material (PCM) Sales Quantity by Type (2020-2031)
5.2 Global Phase Change Material (PCM) Consumption Value by Type (2020-2031)
5.3 Global Phase Change Material (PCM) Average Price by Type (2020-2031)
6 Market Segment by Application
6.1 Global Phase Change Material (PCM) Sales Quantity by Application (2020-2031)
6.2 Global Phase Change Material (PCM) Consumption Value by Application (2020-2031)
6.3 Global Phase Change Material (PCM) Average Price by Application (2020-2031)
7 North America
7.1 North America Phase Change Material (PCM) Sales Quantity by Type (2020-2031)
7.2 North America Phase Change Material (PCM) Sales Quantity by Application (2020-2031)
7.3 North America Phase Change Material (PCM) Market Size by Country
7.3.1 North America Phase Change Material (PCM) Sales Quantity by Country (2020-2031)
7.3.2 North America Phase Change Material (PCM) Consumption Value by Country (2020-2031)
7.3.3 United States Market Size and Forecast (2020-2031)
7.3.4 Canada Market Size and Forecast (2020-2031)
7.3.5 Mexico Market Size and Forecast (2020-2031)
8 Europe
8.1 Europe Phase Change Material (PCM) Sales Quantity by Type (2020-2031)
8.2 Europe Phase Change Material (PCM) Sales Quantity by Application (2020-2031)
8.3 Europe Phase Change Material (PCM) Market Size by Country
8.3.1 Europe Phase Change Material (PCM) Sales Quantity by Country (2020-2031)
8.3.2 Europe Phase Change Material (PCM) Consumption Value by Country (2020-2031)
8.3.3 Germany Market Size and Forecast (2020-2031)
8.3.4 France Market Size and Forecast (2020-2031)
8.3.5 United Kingdom Market Size and Forecast (2020-2031)
8.3.6 Russia Market Size and Forecast (2020-2031)
8.3.7 Italy Market Size and Forecast (2020-2031)
9 Asia-Pacific
9.1 Asia-Pacific Phase Change Material (PCM) Sales Quantity by Type (2020-2031)
9.2 Asia-Pacific Phase Change Material (PCM) Sales Quantity by Application (2020-2031)
9.3 Asia-Pacific Phase Change Material (PCM) Market Size by Region
9.3.1 Asia-Pacific Phase Change Material (PCM) Sales Quantity by Region (2020-2031)
9.3.2 Asia-Pacific Phase Change Material (PCM) Consumption Value by Region (2020-2031)
9.3.3 China Market Size and Forecast (2020-2031)
9.3.4 Japan Market Size and Forecast (2020-2031)
9.3.5 South Korea Market Size and Forecast (2020-2031)
9.3.6 India Market Size and Forecast (2020-2031)
9.3.7 Southeast Asia Market Size and Forecast (2020-2031)
9.3.8 Australia Market Size and Forecast (2020-2031)
10 South America
10.1 South America Phase Change Material (PCM) Sales Quantity by Type (2020-2031)
10.2 South America Phase Change Material (PCM) Sales Quantity by Application (2020-2031)
10.3 South America Phase Change Material (PCM) Market Size by Country
10.3.1 South America Phase Change Material (PCM) Sales Quantity by Country (2020-2031)
10.3.2 South America Phase Change Material (PCM) Consumption Value by Country (2020-2031)
10.3.3 Brazil Market Size and Forecast (2020-2031)
10.3.4 Argentina Market Size and Forecast (2020-2031)
11 Middle East & Africa
11.1 Middle East & Africa Phase Change Material (PCM) Sales Quantity by Type (2020-2031)
11.2 Middle East & Africa Phase Change Material (PCM) Sales Quantity by Application (2020-2031)
11.3 Middle East & Africa Phase Change Material (PCM) Market Size by Country
11.3.1 Middle East & Africa Phase Change Material (PCM) Sales Quantity by Country (2020-2031)
11.3.2 Middle East & Africa Phase Change Material (PCM) Consumption Value by Country (2020-2031)
11.3.3 Turkey Market Size and Forecast (2020-2031)
11.3.4 Egypt Market Size and Forecast (2020-2031)
11.3.5 Saudi Arabia Market Size and Forecast (2020-2031)
11.3.6 South Africa Market Size and Forecast (2020-2031)
12 Market Dynamics
12.1 Phase Change Material (PCM) Market Drivers
12.2 Phase Change Material (PCM) Market Restraints
12.3 Phase Change Material (PCM) Trends Analysis
12.4 Porters Five Forces Analysis
12.4.1 Threat of New Entrants
12.4.2 Bargaining Power of Suppliers
12.4.3 Bargaining Power of Buyers
12.4.4 Threat of Substitutes
12.4.5 Competitive Rivalry
13 Raw Material and Industry Chain
13.1 Raw Material of Phase Change Material (PCM) and Key Manufacturers
13.2 Manufacturing Costs Percentage of Phase Change Material (PCM)
13.3 Phase Change Material (PCM) Production Process
13.4 Industry Value Chain Analysis
14 Shipments by Distribution Channel
14.1 Sales Channel
14.1.1 Direct to End-User
14.1.2 Distributors
14.2 Phase Change Material (PCM) Typical Distributors
14.3 Phase Change Material (PCM) Typical Customers
15 Research Findings and Conclusion
16 Appendix
16.1 Methodology
16.2 Research Process and Data Source
16.3 Disclaimer
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
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*If Applicable.
