Phase Change Material Market: Trends, Opportunities and Competitive Analysis [2024-2030]

Global Phase Change Material Market Trends and Forecast

The future of the global phase change material market looks promising with opportunities in the building and construction, HVAC, cold chain and packaging, thermal energy storage, electronics, textile, and other end use industries. The global phase change material market is expected to reach an estimated$1.74 trillion by 2030 with a CAGR of 14.2% from 2024 to 2030. The major drivers for this market are growth in the construction industry, increasing demand for thermal packaging, and strict regulations for reducing carbon footprints.

• The publisher forecasts that organic will remain the largest segment over the forecast period due to the growing usage of paraffin waxes for electronics thermal management.
• Within this market, building and construction will remain the largest segment by end use industry over the forecast period due to increasing usage of phase change materials for reducing the energy consumption of buildings.
• Europe will remain the largest market over the forecast period due to increasing demand from green building construction and development in the region.

Europe will remain the largest market in the Global Phase Change Material Market

1. United States: Companies like Croda International and DuPont are enhancing their PCM product lines for building and textile applications. The US Department of Energy supports research and development in energy-efficient materials, boosting market growth.

2. Germany: Firms such as BASF and Rubitherm Technologies are investing in advanced PCM solutions for construction and automotive sectors. The German government’s focus on energy efficiency and sustainability supports these initiatives.

3. China: Companies like Shanghai Tempered Entropy Energy Technology and Sinomax are expanding their PCM offerings for cooling and thermal energy storage applications. Government policies promoting renewable energy and sustainable construction drive market expansion.

4. Japan: Firms such as Panasonic and Mitsubishi Chemical are developing PCM technologies for electronics and battery cooling. Government investment in advanced materials and energy-efficient technologies fosters market growth.

5. India: Companies like Pluss Advanced Technologies and Godrej are enhancing their PCM solutions for cold chain logistics and building applications. Government initiatives like “Make in India” and sustainable infrastructure projects drive market demand.

Emerging Trends of Global Phase Change Material Market

A total of 78 figures / charts and 50 tables are provided in this 173-page report to help in your business decisions.

Global Phase Change Material Market by Segment

The study includes a forecast for the global phase change material market by product form, end use industry, and region as follows:

Global Phase Change Material Market by End Use Industry [Value ($M) shipment analysis for 2018 - 2030]:

• Organic
• Inorganic
• Bio-based and Others

Global Phase Change Material Market by End Use Industry [Value ($M) shipment analysis for 2018 - 2030]:

• Building and Construction
• HVAC
• Cold Chain and Packaging
• Thermal Energy Storage
• Electronics
• Textile
• Others

Global Phase Change Material Market by Region [Value ($M) analysis for 2018 - 2030]:

• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• Italy
• United Kingdom
• Spain
• Asia Pacific
• China
• Japan
• India
• South Korea
• The Rest of the World
• South America
• Middle East
• South Africa

List of Global Phase Change Material Market Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies global phase change material companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the global phase change material companies profiled in this report includes.

• Honeywell
• DuPont
• Sasol
• Croda
• PureTemp
• Pluss Advanced Technologies
• Phase Change Energy Solutions
• Rubitherm Technologies
• Phase Change Materials Products
• Outlast Technologies

Recent Developments in the Global Phase Change Material Market

• Expansion in Energy Storage Applications: Phase change materials are increasingly being used for thermal energy storage applications in buildings, electronics, and renewable energy systems. Recent developments include the development of PCM-based energy storage solutions that offer high energy density, long-term stability, and rapid thermal response, enabling efficient energy management and demand-side management strategies.
• Advancements in PCM Formulations: Researchers and manufacturers are focusing on developing advanced PCM formulations with enhanced thermal properties, phase change temperatures, and cycling stability. Recent developments include the synthesis of novel PCM blends, encapsulation techniques, and nanostructuring approaches to improve the heat transfer efficiency and thermal cycling durability of PCM-based materials.
• Integration into Building Materials: Phase change materials are being integrated into building materials such as concrete, gypsum boards, and insulation panels to improve the thermal performance and energy efficiency of buildings. Recent developments include the development of PCM-enhanced building products that regulate indoor temperature fluctuations, reduce HVAC energy consumption, and enhance occupant comfort in both residential and commercial buildings.
• Applications in Thermal Management of Electronics: Phase change materials are finding applications in the thermal management of electronic devices and components to mitigate overheating and improve reliability. Recent developments include the use of PCM-based thermal interface materials (TIMs) and heat sinks for dissipating heat generated by high-power electronic devices such as CPUs, GPUs, and power electronics in automotive and aerospace applications.
• Focus on Sustainable and Bio-Based PCMs: There's a growing interest in sustainable and bio-based phase change materials derived from renewable feedstocks such as fatty acids, bio-based polymers, and agricultural waste. Recent developments include the synthesis of eco-friendly PCM formulations with low toxicity, biodegradability, and recyclability, addressing environmental concerns and regulatory requirements in various industries.
• Innovation in PCM Microencapsulation and Packaging: PCM microencapsulation and packaging technologies are undergoing continuous innovation to improve the stability, scalability, and cost-effectiveness of PCM-based products. Recent developments include advancements in microencapsulation techniques such as spray drying, fluidized bed coating, and sol-gel encapsulation, enabling the production of microencapsulated PCM particles with tailored properties for specific applications.

Features of Global Phase Change Material Market

• Market Size Estimates: Phase change material market size estimation in terms of value ($M)
• Trend and Forecast Analysis: Market trends (2018-2023) and forecast (2024-2030) by various segments and regions.
• Segmentation Analysis: Market size by product form and end use industry.
• Regional Analysis: Phase change material market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
• Growth Opportunities: Analysis of growth opportunities in different product form, end use industry, and regions for the global phase change material market.
• Strategic Analysis: This includes M&A, new product development, and competitive landscape for the global phase change material market.
• Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the global phase change material market size?
Answer:The global phase change material market is expected to reach an estimated$1.74 trillion by 2030.

Q2. What is the growth forecast for global phase change material market?
Answer:The global phase change material market is expected to grow at a CAGR of 14.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the global phase change material market?
Answer: The major drivers for this market are growth in the construction industry, increasing demand for thermal packaging, and strict regulations for reducing carbon footprints.

Q4. What are the major applications or end use industries for global phase change material market?
Answer:Building and construction is the major end use industry for global phase change material market.

Q5. Who are the key global phase change material companies?
Answer:Some of the key global phase change material companies are as follows:

• Honeywell
• DuPont
• Sasol
• Croda
• PureTemp
• Pluss Advanced Technologies
• Phase Change Energy Solutions
• Rubitherm Technologies
• Phase Change Materials Products
• Outlast Technologies

Q6.Which global phase change material product form segment will be the largest in future?
Answer: The publisherforecasts that organic will remain the largest segment over the forecast period due to the growing usage of paraffin waxes for electronics thermal management.

Q7: In global phase change material market, which region is expected to be the largest in next 5 years?
Answer:Europe is expected to remain the largest region and witness the good growth over next 5 years
Q8. Do we receive customization in this report?
Answer:Yes, The publisher provides 10% Customization Without any Additional Cost.

This report answers the following 11 key questions

Q.1 What are some of the most promising potential, high growth opportunities for the global phase change material market by product form (organic, inorganic, and bio-based and others), end use industry (building and construction, HVAC, cold chain and packaging, thermal energy storage, electronics, textile, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?


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