The Phase Change Materials Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Phase Change Materials Market?
The market size of phase change materials has seen a swift expansion in recent years. The market is projected to increase from $1.84 billion in 2024 to $2.19 billion in 2025, with a compound annual growth rate (CAGR) of 19.2%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Phase Change Materials Industry?
The Phase Change Materials Global Market is projected to be valued at $4.24 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 18.0%.
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What are the Key Growth Drivers Fueling the Phase Change Materials Market?
The key drivers in the phase change materials market are:
• Rising incorporation into wearable technology and smart textiles
• Increased use of advanced phase change materials in electric vehicles
• Upsurge in data centers and cloud computing activities
• Expansion in the renewable energy storage sector
Global Market Segmentation: Identifying Major Phase Change Materials Industry Segments
The phase change materials market covered in this report is segmented –
1) By Type: Organic, Inorganic, Bio-based
2) By Encapsulation Technology: Macro, Micro, Molecular
3) By Product: Paraffin, Non-Paraffin, Salt Hydrates, Eutectics
4) By End-User: Building and Construction, Packaging, Textiles, Electronics, Transportation, Other End-Users
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What are the Emerging Trends Shaping the Future of the Phase Change Materials Market?
The key trends in the e-learning market are:
• Customized Phase Change Materials (PCMs) for specific applications are becoming a major trend in the market.
• There's a rising trend towards the development and use of biodegradable and sustainable PCMs.
• Advanced encapsulation technologies are seen as an emerging market trend.
• The integration of Phase Change Materials with IoT and sensor networks is shaping the future of the market.
Who Are the Top Competitors & Leading Players in the Phase Change Materials Market?
Major companies in the phase change materials market are:
• Honeywell Electronic Materials Inc.
• Microtek Laboratories Inc.
• Croda International plc
• Sasol Ltd.
• Henkel AG & Co. KGaA
• Climator Mep Pvt Ltd.
• PCM Products Ltd.
• Phase Change Energy Solutions
• Rubitherm Technologies
• Cryopak Industries Inc.
• Outlast Technologies
• DuPont de Nemours Inc.
• Dow Inc.
• Badische Anilin und Soda Fabrik
• Puretemp LLC
• Pluss Advanced Technologies Inc.
• Cold Chain Technologies Inc.
• Entropy Solutions LLC
• Laird plc
• Phase Change Materials Products Ltd.
• Smart Materials Corporation
• Thermal Energy System Specialists
• Henan Shijixiang Enterprise Co Ltd.
• AdvanSource Biomaterials Corporation
• Encapsys LLC
• Advanced Cooling Technologies Inc.
• Chemours Company
Regional Dominance: Which Area Leads the Global Phase Change Materials Market?
Europe was the largest region in the phase change materials market in 2024
