Global Advanced Phase Change Materials Market to Reach US$ 4.2 Billion by 2032, Impelled by Extensive Applications in Construction Industry

August 24, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “Advanced Phase Change Materials Market Report by Type (Organic PCM, Inorganic PCM, Bio-Based PCM), Form (Encapsulated, Non-Encapsulated), Application (Building and Construction, Packaging, HVAC, Textiles, Electronics, and Others), and Region 2024-2032”, the global advanced phase change materials market size reached US$ 1.6 Billion in 2023. Advanced Phase Change Materials (PCMs) are substances that undergo a transformation in their physical state, such as from solid to liquid or vice versa, within a specific temperature range. This change in state allows them to absorb and release large amounts of thermal energy, serving as a vital component in energy storage and efficiency. PCMs have certain distinct characteristics, such as high thermal conductivity, which ensures efficient heat transfer. They also require thermochemical stability to withstand numerous heating and cooling cycles, and their compatibility with surrounding materials is essential to prevent unwanted chemical reactions. Additionally, their high energy storage density facilitates more compact designs. Features that make PCMs particularly appealing include energy efficiency, as they can significantly reduce energy consumption in heating and cooling applications by utilizing the latent heat of fusion. Many PCMs are manufactured from non-toxic and biodegradable substances, contributing to environmental sustainability. Moreover, their adaptability to specific temperature ranges makes them suitable for various applications, from medical equipment cooling to building insulation and renewable energy storage.

Global Advanced Phase Change Materials Market Trends:

The advancement in material science and the increasing need for energy-efficient solutions represent one of the key factors driving the market growth of advanced Phase Change Materials (PCMs) worldwide. This, coupled with the surge in renewable energy applications and a focus on innovative thermal management, is catalyzing the demand for PCMs. Additionally, the growing emphasis on sustainability and detailed energy storage across various industries is augmenting the market. Moreover, the rapid progression in thermal technology and increased demand for quality energy storage are further escalating the need for PCMs. Besides this, advancements in construction, HVAC systems, and cooling applications, coupled with governments' commitments to improving energy efficiency standards and services, are leading to broader adoption of this technology. Concurrently, an increase in the utilization of PCMs in both traditional energy storage and innovative cooling applications is also contributing to market growth. In line with this, various industrial processes require the use of PCMs for their superior characteristics, such as high thermal conductivity and thermochemical stability. Furthermore, the escalated investment in research and development (R&D), spurred by robust growth in the green technology sector, is also a substantial driving force. Continuous enhancements in PCM technology, including improvements in integration with modern energy systems and customization for specific temperature ranges, are propelling the market forward. This relentless technological progression is fostering adoption, maintaining the upward trajectory of the global advanced phase change materials market, thereby representing a significant leap in thermal management capabilities, contributing to higher efficiency and adaptability in various applications. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2032, expanding at a growth rate (CAGR) of 11.1% during 2024-2032.

Market Summary:

  • On the basis of the type, the market has been classified into organic, inorganic and bio-based PCMs, wherein the organic PCM segment represents the most preferred type.
  • Based on the form, the market has been bifurcated into encapsulated and non-encapsulated PCMs. Among these, encapsulated PCMs account for the majority of the total market share.
  • On the basis of the application, the market has been divided into building and construction, packaging, HVAC, textiles, electronics and others. At present, the building and construction sector exhibits a clear dominance in the market.
  • On the geographical front, the market is segmented into Europe, North America, Asia Pacific, Middle East and Africa, and Latin America. Presently, Europe is dominating the market across the globe.
  • The competitive landscape of the market has been analyzed in the report with the detailed profiles of the key players operating in the market. Some of these players include BASF SE, Cryopak, Entropy Solutions, Honeywell International Inc., Outlast Technologies LLC, Climator Sweden AB, Croda International Plc, Phase Change Material Products Limited, Phase Change Energy Solutions, Pluss Advanced Technologies Pvt. Ltd., RGEES, LLC., Rubitherm Technologies GmbH, Salca BV, and SGL Group.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Type
  • Form
  • Application
  • Region
Types Covered Organic PCM, Inorganic PCM, Bio-based PCM
Forms Covered Encapsulated, Non-Encapsulated
Applications Covered Building and Construction, Packaging, HVAC, Textiles, Electronics, Others
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered BASF SE, Cryopak, Entropy Solutions, Honeywell International Inc., Outlast Technologies LLC, Climator Sweden AB, Croda International Plc, Phase Change Material Products Limited, Phase Change Energy Solutions, Pluss Advanced Technologies Pvt. Ltd., RGEES, LLC., Rubitherm Technologies GmbH, Salca BV, and SGL Group
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Advanced Phase Change Materials Market to Reach US$ 4.2 Billion by 2032, Impelled by Extensive Applications in Construction Industry
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More