Advanced Phase Change Materials Market by Type (Organic, Inorganic, Bio-based), Application (Building & Construction, Energy Storage, Cold Chain & Packaging, HVAC, Shipping & Transportation, Electronics, Textiles, Others) - Global Opportunity Analysi

“Market Definition:

The Global Advanced Phase Change Materials Market was valued at USD 1.41 billion in 2019, and is projected at USD 6.48 billion by 2030, expanding at a CAGR of 14.8% during the forecast period from 2020 to 2030. Volumetric sale of advanced phase change materials was 275.76 kilotons in 2019 is expected to reach 1,321.09 kilotons by 2030, expanding at a CAGR of 15.2% from 2020 to 2030.

Phase change materials offer thermal management solutions. They either release or absorb the energy during phase transition. In other words, they change the state from solid to liquid and vice-versa, thereby offering the desired heating or cooling. Advanced phase change materials (PCMs) can store and provide large volumes of thermal energy after changing state from one to another. Advanced phase change materials are extensively used in the construction industry for building interiors, green constructions, lightweight architectures, and cooling infrastructures.

Market Dynamics and Trends

Growing usage of advanced PCM in the construction industry is fuelling the PCM market growth. Increasing use of advanced PCMs for temperature control, reducing operating cost, temperature security, long operating life and energy saving are boosting the growth of global advanced phase change materials market. However, high cost of advanced PCMs, its susceptibility to corrosion, high flammability, and lack of awareness regarding its usage, are expected to limit the growth of advanced phase change materials market during the forecast period. Conversely, increasing awareness regarding energy-saving and environment-friendly technologies, stringent regulations for minimizing greenhouse gas emissions, and surge in R&D activities to increase the efficiency of advanced phase change materials, are expected to create lucrative opportunities in the market during the forecast period.

Market Segmentations and Scope of the Study:

The advanced phase change materials market is segmented based on type, application, and geography. In terms of type, the advanced phase change materials market is segmented into organic, inorganic, and bio-based. On the basis of application, the market is segregated into building & construction, energy storage, HVAC, shipping & transportation, electronics, textiles, and others. Based on geography, the market is fragmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Geographical Analysis

The advanced phase change materials market in Europe is expected to grow at a considerable pace during the forecast period. Strict building energy codes to reduce emission of harmful gases, increasing demand for green buildings, and high demand for low-carbon & net-zero energy buildings are factors fuelling market growth in Europe. The market in Asia-Pacific is anticipated to grow with at a high pace during the forecast period owing to the growth in the construction industry, rapid industrialization, and strong emphasis on energy security.

Competitive Landscape

Key players in the advanced phase change materials market include Croda International Plc., Entropy Solutions LLC, Microtek Laboratories Inc., Honeywell Electronic Materials, Inc., Laird Plc, Sasol Ltd., Pluss Technologies Pvt. Ltd., Microtek Laboratories Inc., Phase Change Materials Products Ltd., Outlast Technologies LLC, Phase Change Energy Solutions Inc., Rubitherm Technologies GmbH, Henkel AG & Company, KGaA, Advansa BV, AI Technology Inc., Climator Sweden AB, and Cold Chain Technologies, Inc.

In February 2020, Honeywell Electronic Materials, Inc. launched its Solstice E-cooling technology for cooling the data centres and other high-performance electronic applications. The technology uses a two-phase liquid cooling process to remove heat from data centre and electronic applications, thereby increasing its efficiency while lowering their operational costs and carbon footprints.


• Global Advanced Phase Change Materials Market –

By Type

o Organic
o Inorganic
o Bio-based

• Global Advanced Phase Change Materials Market –

By Application

o Building & Construction
o Energy Storage
o Shipping & Transportation
o Electronics
o Textiles
o Others

• Global Advanced Phase Change Materials Market – By Geography
o North America
§ U.S.
§ Canada
§ Mexico
o Europe
§ UK
§ Germany
§ France
§ Italy
§ Spain
§ Rest of Europe
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ Rest of Asia-Pacific
o RoW
§ Saudi Arabia
§ South Africa
§ Brazil
§ Remaining Countries


• Croda International Plc.
• Entropy Solutions LLC
• Microtek Laboratories Inc.
• Honeywell Electronic Materials, Inc.
• Laird Plc,
• Sasol Ltd.
• Pluss Technologies Pvt. Ltd.
• Phase Change Materials Products Ltd.
• Outlast Technologies LLC
• Phase Change Energy Solutions Inc.
• Rubitherm Technologies GmbH
• Henkel AG & Company, KGaA
• Advansa BV
• AI Technology Inc.
• Climator Sweden AB
• Cold Chain Technologies, Inc.”

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