Phase Change Materials Market Report 2026

Phase Change Materials Market Overview

• Phase Change Materials market size has reached to $2.17 billion in 2025 • Expected to grow to $4.84 billion in 2030 at a compound annual growth rate (CAGR) of 17.3% • Growth Driver: Escalating Adoption Of Renewable Is Anticipated To Fuel Phase Change Materials Market • Market Trend: Innovative Ultra-Low Temperature Solutions To Provide Backup Temperature Security • Europe was the largest region in 2025.

What Is Covered Under Phase Change Materials Market?

Phase-change materials refer to a class of substances that, while changing from one physical state to another, such as from a solid to a liquid, absorb or release significant amounts of latent heat. Phase change materials are also known as latent heat storage units, commonly used in solar power plants, waste heat recovery systems, preservation of food, pharmaceutical products, and construction. The main types of phase change materials are organic, inorganic, and bio-based. Organic phase change materials are a type of phase change materials that can absorb and release latent heat during the phase change process at certain temperatures. The different product types include paraffin, non-paraffin, salt hydrates, eutectics and use various encapsulation technologies such as macro, micro, and molecular. It is implemented in several end-use industries such as building and construction, packaging, textiles, electronics, transportation, and others.

What Is The Phase Change Materials Market Growth Forecast?

The phase change materials market size is expected to see rapid growth in the next few years. It will grow to $4.84 billion in 2030 at a compound annual growth rate (CAGR) of 17.3%. The growth in the forecast period can be attributed to increasing investments in energy-efficient buildings, rising adoption of electric vehicles thermal management, expansion of cold chain infrastructure, growing focus on renewable energy storage solutions, increasing use of advanced encapsulation technologies. Major trends in the forecast period include increasing adoption of thermal energy storage systems, rising use of pcms in building materials, growing deployment in cold chain packaging, expansion of pcm applications in electronics cooling, enhanced focus on energy efficiency.

Global Phase Change Materials Market Segmentation

1) By Material 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 Subsegments: 1) By Organic: Paraffin-Based Materials, Fatty Acids, Esters 2) By Inorganic: Salt Hydrates, Metallic Compounds, Water-Based Materials 3) By Bio-Based: Plant-Based Materials, Animal-Based Materials, Biopolymers

What Is The Driver Of The Phase Change Materials Market?

The escalating adoption of renewable is expected to propel the phase change materials market going forward. Renewable refers to a source of energy that is not depleted when used and can be replenished naturally within a human lifespan. Phase Change Materials are used in renewable energy systems to store and release thermal energy, enhancing efficiency and sustainability. For instance, in June 2023, according to the International Energy Agency (IEA) a France-based energy organization, the net renewable electricity capacity additions by PV distributed reached up to 136.2 GW in 2023 from 107.4 GW in 2022. While the PV utility has also increased from 112.6 GW in 2022 to 150.8 GW in 2023. Therefore, the escalating adoption of renewable energy is driving the phase change materials industry.

Key Players In The Global Phase Change Materials Market

Major companies operating in the phase change materials market are Rubitherm Technologies GmbH, PCM Products Ltd., Phase Change Energy Solutions Inc., Puretemp LLC, Pluss Advanced Technologies Ltd., Entropy Solutions LLC, Outlast Technologies Inc., Climator Sweden AB, Cryopak Industries Inc., Cold Chain Technologies LLC, Phase Change Materials Products Ltd., Henan Shijixiang Enterprise Co. Ltd., Smart Materials Corporation, Advanced Cooling Technologies Inc., Thermal Energy System Specialists LLC, Laird Technologies Inc., Microtek Laboratories Inc., Encapsys LLC, AdvanSource Biomaterials Corporation, Insolcorp Ltd.

Global Phase Change Materials Market Trends and Insights

Major companies operating in the phase change materials market are launching innovative ultra-low temperature solutions to provide backup temperature security and offer an alternative to dry ice. Ultra-low temperature solutions refer to systems and technologies capable of maintaining temperatures significantly below standard freezing points. For instance, in March 2023, BioLife Solutions Inc, a US-based supplier of class-defining cell and gene therapy, launched Ultraguard, the first -70°C phase change material (PCM) that is non-toxic, non-hazardous, and non-flammable. This PCM offers ultra-low temperature (ULT) protection. Ultraguard can serve as a backup when ULT freezers lose power and as a benchtop storage solution for biological materials, presenting an alternative to dry ice.

What Are Latest Mergers And Acquisitions In The Phase Change Materials Market?

In October 2024, Sunwin Industry Group Co., Ltd, a China-based manufacturing and textile design company, acquired Outlast Technologies for an undisclosed amount, and with this acquisition Sunwin aimed to combine its extensive manufacturing and distribution capabilities with Outlast’s expertise in proactive thermal management to enhance innovation, expand its product portfolio and accelerate global market growth. Outlast Technologies GmbH is a Germany-based technology company that specializes in developing advanced temperature management and phase change material solutions used in textiles and related applications.

Regional Outlook

Europe was the largest region in the phase change materials market in 2025. The regions covered in this market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in this market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

What Defines the Phase Change Materials Market?

The phase change materials consist of paraffin, nonparaffin, salt hydrates, metallic alloys, and plant-based materials. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

How is Market Value Defined and Measured?

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

What Key Data and Analysis Are Included in the Phase Change Materials Market Report 2026?

The phase change materials market research report is one of a series of new reports from The Business Research Company that provides market statistics, including Market Report 2026?global market size, regional shares, competitors with the market share, detailed market segments, market trends and opportunities, and any further data you may need to thrive in the phase change materials Market Report 2026? The market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the Market Report 2026?