Phase Change Materials Market: By Product (Eutectics, Paraffin, Salt Hydrates Non-Paraffin), By End-user (Textiles, Aerospace & Automotive & Construction, HVAC, Chemical, Healthcare) and By Geography  

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The phase change materials market size was valued at USD 1.9 billion in 2022 and will exhibit a growth rate of over 17.4% from 2023 to 2029. Phase change materials are extensively used to enable the temporary storage of low temperature or high temperature energy to use later. These are also used for thermal energy storage. Phase change materials provide several thermal management solutions. This market report on phase change materials market size covers thorough coverage of the industry along with estimations and forecasts. This market is anticipated to record CAGR of 20% over the forecast period. Phase change materials like organic paraffin or carbohydrates and inert salt hydrates have a high heat of synthesis and can store hidden heat. These materials have great demand from the sectors such as building & construction, HVAC, and shipping & transportation energy storage.

Global Phase Change Materials Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

17.4%

Largest Market

North America

Fastest Growing Market

Europe
Phase Change Materials Market Dynamics

There are several major factors drive the market growth such as increasing demand from industries like construction and building and increasing global trend towards sustainable development. The organic product sector dominated the phase change materials market and is anticipated to grow in future because of the increasing construction industries in regions like Asia Pacific and North America. Advancement of phase change materials is anticipated to increase the opportunities in the market. Both the industries like construction and building industries witnessed crucial growth globally. Constant technological advancement is there for the production of high-quality materials for construction activities and phase change material is one of that advancement, which is gradually penetrating the global construction industry.

Key Features of the Reports

  • The phase change materials market report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and Forecast (2023 to 2029)
  • The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startups details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porters Five Force Analysis in addition to recent technology advancements and innovations in the market

Global Phase Change Materials Market Segmentation

By Product Type
  • Non-paraffin
  • Paraffin
  • Salt Hydrates
  • Eutectics
By End-User
  • HVAC
  • Electrical & Electronics
  • Healthcare
  • Textile
  • Building & Construction
  • Chemical Industries
  • Packaging
  • Aerospace & Automotive
  • Others
By Geography
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Frequently Asked Questions

The Phase Change Materials Market size was valued at USD 1.9 billion in 2022

The Phase Change Materials Market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

Europe is the fastest-growing for Phase Change Materials Market

1.Executive Summary
2.Global Phase Change Materials Market Introduction 
2.1.Global Phase Change Materials Market  - Taxonomy
2.2.Global Phase Change Materials Market  - Definitions
2.2.1.Product Type
2.2.2.End User
2.2.3.Region
3.Global Phase Change Materials Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4.Global Phase Change Materials Market Analysis, 2018-2022 and Forecast 2023-2029
4.1.  Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5.Global Phase Change Materials Market By Product Type, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
5.1. Non-paraffin
5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Paraffin
5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
5.3. Salt Hydrates
5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.3.3. Market Opportunity Analysis 
5.4. Eutectics
5.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.4.3. Market Opportunity Analysis 
6.Global Phase Change Materials Market By End User, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
6.1. HVAC
6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Electrical & Electronics
6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Healthcare
6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
6.4. Textile
6.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.4.3. Market Opportunity Analysis 
6.5. Building & Construction
6.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.5.3. Market Opportunity Analysis 
6.6. Chemical Industries
6.6.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.6.3. Market Opportunity Analysis 
6.7. Packaging
6.7.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.7.3. Market Opportunity Analysis 
6.8. Aerospace & Automotive
6.8.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.8.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.8.3. Market Opportunity Analysis 
6.9. Others
6.9.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
6.9.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.9.3. Market Opportunity Analysis 
7.Global Phase Change Materials Market By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
7.1. North America
7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Europe
7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
7.3. Asia Pacific (APAC)
7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.3.3. Market Opportunity Analysis 
7.4. Middle East and Africa (MEA)
7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.4.3. Market Opportunity Analysis 
7.5. Latin America
7.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million)
7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.5.3. Market Opportunity Analysis 
8.North America Phase Change Materials Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
8.1. Product Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.1.1.Non-paraffin
8.1.2.Paraffin
8.1.3.Salt Hydrates
8.1.4.Eutectics
8.2.  End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.2.1.HVAC
8.2.2.Electrical & Electronics
8.2.3.Healthcare
8.2.4.Textile
8.2.5.Building & Construction
8.2.6.Chemical Industries
8.2.7.Packaging
8.2.8.Aerospace & Automotive
8.2.9.Others
8.3.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
8.3.1.United States of America (USA)
8.3.2.Canada
9.Europe Phase Change Materials Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
9.1. Product Type Analysis and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.1.1.Non-paraffin
9.1.2.Paraffin
9.1.3.Salt Hydrates
9.1.4.Eutectics
9.2.  End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.2.1.HVAC
9.2.2.Electrical & Electronics
9.2.3.Healthcare
9.2.4.Textile
9.2.5.Building & Construction
9.2.6.Chemical Industries
9.2.7.Packaging
9.2.8.Aerospace & Automotive
9.2.9.Others
9.3.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
9.3.1.Germany
9.3.2.France
9.3.3.Italy
9.3.4.United Kingdom (UK)
9.3.5.Spain
9.3.6.Rest of EU
10.Asia Pacific (APAC) Phase Change Materials Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
10.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Non-paraffin
10.1.2.Paraffin
10.1.3.Salt Hydrates
10.1.4.Eutectics
10.2.  End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.HVAC
10.2.2.Electrical & Electronics
10.2.3.Healthcare
10.2.4.Textile
10.2.5.Building & Construction
10.2.6.Chemical Industries
10.2.7.Packaging
10.2.8.Aerospace & Automotive
10.2.9.Others
10.3.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.China
10.3.2.India
10.3.3.Australia and New Zealand (ANZ)
10.3.4.Japan
10.3.5.Rest of APAC
11.Middle East and Africa (MEA) Phase Change Materials Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
11.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Non-paraffin
11.1.2.Paraffin
11.1.3.Salt Hydrates
11.1.4.Eutectics
11.2.  End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.HVAC
11.2.2.Electrical & Electronics
11.2.3.Healthcare
11.2.4.Textile
11.2.5.Building & Construction
11.2.6.Chemical Industries
11.2.7.Packaging
11.2.8.Aerospace & Automotive
11.2.9.Others
11.3.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.GCC Countries
11.3.2.South Africa
11.3.3.Rest of MEA
12.Latin America Phase Change Materials Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million)
12.1. Product Type Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Non-paraffin
12.1.2.Paraffin
12.1.3.Salt Hydrates
12.1.4.Eutectics
12.2.  End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.HVAC
12.2.2.Electrical & Electronics
12.2.3.Healthcare
12.2.4.Textile
12.2.5.Building & Construction
12.2.6.Chemical Industries
12.2.7.Packaging
12.2.8.Aerospace & Automotive
12.2.9.Others
12.3.  Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Brazil
12.3.2.Mexico
12.3.3.Rest of LA
13. Competition Landscape
13.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
13.2.1.Phase Change Products Pty Ltd
13.2.2.Henkel
13.2.3.Cryopak
13.2.4.BASF SE
13.2.5.Entropy Solutions LLC
13.2.6.Laird Plc
13.2.7.Sasol The Dow Chemical Company
13.2.8.Croda International Plc.
14. Research Methodology 
15. Appendix and Abbreviations 
  • Phase Change Products Pty Ltd
  • Henkel
  • Cryopak
  • BASF SE
  • Entropy Solutions LLC
  • Laird Plc
  • Sasol The Dow Chemical Company
  • Croda International Plc.

Adjacent Markets