Global Advanced Phase Change Materials Market to Grow at 12.74% During 2023-2028, Spurred by Advent of Bio-Based Materials

May 15, 2019

According to the latest report by IMARC Group, titled "Advanced Phase Change Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global advanced phase change materials market reached a value of US$ 1.4 Billion in 2022. Phase change materials (PCMs) have unique structures that enable absorbing, storing and releasing large amounts of energy during a phase transition. They facilitate phase change from liquid to solid or solid to liquid depending upon their application. They aid in releasing energy in the form of latent heat upon freezing, whereas they absorb heat from the environment during the process of melting. They are used to improve the overall efficiency of solar energy systems by storing excess energy for later use. PCMs are also used for a large number of applications that require temperature control.

Global Advanced Phase Change Materials Market Trends:

The market is driven by the growing utilization of advanced PCMs in the construction industry. There has been a significant increase in construction activities that utilize these materials for their excellent thermal efficiency and high heat storage capacity. This is supported by the implementation of stringent building codes across the residential and commercial sectors and the shifting preference toward green construction. Technological advancements have led to the development of micro and macro encapsulation for advanced PCMs, which is acting as a major growth-inducing factor. Furthermore, manufacturers are also launching innovative variants in the market that are bio-based and derived from vegetables. For instance, Phase Change Energy Solutions, a company based out of North Carolina, Unites States, has introduced BioPCM that is produced from sustainably-grown, food-grade by-products that can store large amounts of latent heat at targeted temperatures ranging from -50°C to 175°C. Rising environmental concerns, growing awareness regarding energy conservation and the increasing utilization of non-toxic and non-corrosive PCMs are some of the other factors facilitating the market growth. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 12.74% during 2023-2028.

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, Europe holds the leading position in the market. Other major regions include North America, Asia Pacific, Middle East and Africa, and Latin America.
  • 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.

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:


USA: +1-631-791-1145
Follow us on twitter : @imarcglobal

Global Advanced Phase Change Materials Market to Grow at 12.74% During 2023-2028, Spurred by Advent of Bio-Based Materials
Select Licence Type

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
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

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