Phase change materials for thermal management Market Size, Production, Sales, Average Product Price, Market Share, Import vs Export

Rising Demand for Sustainable Energy Solutions Fuels the Phase change materials for thermal management Market 

The Phase change materials for thermal management Market is witnessing a surge in adoption driven by the global urgency to enhance energy efficiency and reduce dependence on conventional cooling and heating systems. According to Datavagyanik, the market is increasingly becoming a strategic cornerstone in sectors such as renewable energy, construction, electronics, and healthcare. 

One of the primary drivers is the growing need for thermal energy storage in solar power applications. For instance, the solar thermal energy market is projected to reach $35 billion by 2030, and the integration of phase change materials (PCMs) is pivotal in maximizing energy retention and delivery during non-sunlight hours. PCMs store excess heat during the day and release it at night, reducing operational gaps and improving overall system efficiency. As renewable power installation grows globally—expected to reach over 5,800 GW by 2032—the role of PCMs in ensuring energy reliability will become indispensable. 

 

Phase change materials for thermal management Market Growth Accelerated by High-Performance Electronics 

With the explosion of the digital economy, the Phase change materials for thermal management Market is seeing exponential growth in applications involving electronic devices and high-performance computing. Data centers, for example, consume roughly 3% of global electricity, with cooling systems accounting for nearly 40% of that usage. Integrating PCMs in server racks and chipsets has proven to reduce cooling costs by up to 30%, while also improving component lifespan and performance stability. 

Similarly, the electric vehicle (EV) industry, which recorded a 60% increase in sales globally in 2023 alone, is integrating PCMs in battery packs to control heat generation during charging and discharging cycles. Tesla, Nissan, and BYD are incorporating PCM-based battery thermal management systems to reduce thermal runaway risks and extend battery life. This trend reinforces the sustained expansion of the Phase change materials for thermal management Market as electronics and EV markets scale. 

 

Green Construction Boom Strengthens Phase change materials for thermal management Market Size 

Datavagyanik identifies green building practices as a significant contributor to the Phase change materials for thermal management Market Size. PCMs are being embedded in walls, ceilings, and flooring materials to regulate indoor temperatures passively, cutting energy consumption for heating and cooling by up to 25%. For example, PCM-integrated drywall can maintain room temperature between 20–25°C even when outside temperatures fluctuate drastically. 

The global green building materials market is expected to reach $580 billion by 2030. Given that buildings account for over 30% of global energy consumption, the integration of PCMs in construction is both a regulatory necessity and a financial incentive. In the United States, the Energy Efficiency and Conservation Block Grant (EECBG) program is offering over $550 million in funding to retrofit public buildings—many of which are turning to PCMs for effective thermal management. This momentum directly propels the growth of the Phase change materials for thermal management Market. 

 

Revolution in Cold Chain Logistics Boosts Phase change materials for thermal management Market 

The surge in demand for temperature-sensitive pharmaceuticals and perishable goods has made cold chain logistics a critical component of global trade. The pharmaceutical cold chain market alone is forecasted to exceed $21 billion by 2027. PCMs play an essential role in this sector by maintaining specific temperature thresholds—typically between 2°C and 8°C—during storage and transportation. 

For instance, during the COVID-19 vaccine rollout, bio-based PCMs were widely used to maintain ultra-cold chain integrity, ensuring product efficacy during long-distance shipments. Similarly, the food and beverage sector is utilizing PCMs in insulated shipping containers to extend shelf life and meet stringent health regulations. These applications are intensifying the demand across the Phase change materials for thermal management Market, especially in regions like Asia Pacific and Latin America, where export volumes of perishable goods are climbing sharply. 

 

Technological Innovations Propel the Phase change materials for thermal management Market 

Advancements in encapsulation technologies, material science, and thermal conductivity enhancements are accelerating the adoption of PCMs in industrial applications. Microencapsulation techniques, for example, are enabling PCMs to be embedded directly into textiles, electronics, and coatings without leakage or degradation. Datavagyanik notes that the global microencapsulation market, valued at $9 billion in 2022, is increasingly being driven by thermal regulation applications. 

Companies are also investing in bio-based, non-toxic PCMs to align with sustainability mandates. For instance, Rubitherm and Croda International have launched new lines of biodegradable PCMs derived from plant oils. These innovations are not only expanding the application scope but are also reducing the environmental footprint of thermal management systems—enhancing the commercial viability of the Phase change materials for thermal management Market. 

 

Government Policies and Incentives Drive Phase change materials for thermal management Market Expansion 

Regulatory support is playing a crucial role in mainstreaming PCMs across sectors. Energy efficiency directives in the EU, mandates under the U.S. Department of Energy, and sustainability clauses in the Green Building Councils’ certifications are incentivizing PCM integration in both public and private sector projects. Datavagyanik highlights that nearly 60 countries now have building energy codes that promote or require the use of high-performance insulation materials, creating fertile ground for PCM adoption. 

In India, the Energy Conservation Building Code (ECBC) is catalyzing PCM usage in commercial construction. Meanwhile, China’s 14th Five-Year Plan emphasizes green technology adoption, offering subsidies to manufacturers deploying PCMs in solar thermal systems. These policy-level tailwinds are reshaping the trajectory of the Phase change materials for thermal management Market, unlocking multi-billion-dollar opportunities for developers and suppliers. 

 

Increasing Urbanization and Smart Infrastructure Strengthen Phase change materials for thermal management Market Size 

With over 56% of the global population now residing in urban areas—and this figure expected to hit 68% by 2050—urban heat management has become a pressing challenge. Smart city projects in regions such as Southeast Asia, the Middle East, and Latin America are prioritizing passive cooling technologies. PCMs are being deployed in road surfaces, building facades, and public transport systems to offset the urban heat island effect and improve energy resilience. 

For example, the Smart Dubai initiative has incorporated PCMs into public buildings and bus shelters to reduce air conditioning dependency during peak heat periods. In Brazil, PCM-integrated street furniture is being used to provide temperature-controlled public seating. As cities scale their smart infrastructure, the Phase change materials for thermal management Market Size is set to experience robust and sustained expansion. 

 

Industrial Process Optimization Opens New Frontiers for the Phase change materials for thermal management Market 

Industries such as manufacturing, oil and gas, and chemicals are increasingly leveraging PCMs to stabilize temperature-sensitive operations. Datavagyanik reports that fluctuations in process temperatures can lead to material waste, reduced yields, and higher energy consumption. PCMs help buffer these thermal variations, particularly in batch production processes, by absorbing and releasing heat during phase transitions. 

A case in point is in the chemical processing sector, where PCMs are used in jacketed reactors to maintain optimal temperature profiles, leading to efficiency improvements of up to 18%. Similarly, the metal fabrication industry is using PCM-integrated molds to accelerate cycle times and reduce thermal stress on components. This diversified demand is solidifying the Phase change materials for thermal management Market as a linchpin of industrial innovation and productivity. 

 

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North America leads in innovation and adoption in the phase change materials for thermal management market 

The phase change materials for thermal management market in North America is led by the United States, which holds more than 35 percent of the global market share. This dominance is driven by widespread use in high-performance electronics, electric vehicle battery cooling systems, and modern construction. Datavagyanik notes that over 70 percent of new commercial buildings in the US incorporate at least one energy-saving solution involving phase change materials. 

Data centers in North America, forecasted to consume more than 73 billion kilowatt-hours by 2026, are turning to phase change materials to cut HVAC loads. For example, thermal storage using PCMs in server facilities can reduce cooling energy use by up to 30 percent. Similarly, Tesla’s Gigafactory utilizes PCM-integrated battery packs that improve thermal stability and extend battery life. These applications are driving consistent growth in the phase change materials for thermal management market across the region. 

Europe’s regulatory environment fuels advanced PCM applications in the phase change materials for thermal management market 

Europe remains a critical hub for the phase change materials for thermal management market, backed by strong policy support and a mature green construction sector. Germany, France, and the Netherlands are integrating PCMs into solar thermal storage, passive housing, and electric vehicle infrastructure at a rapid pace. Datavagyanik highlights that the European Union’s carbon neutrality targets are acting as a major catalyst for PCM integration. 

Germany, for example, uses PCMs in more than half of newly constructed passive homes. These applications can cut energy costs by up to 40 percent. The Netherlands is investing over 300 million euros in renewable energy storage, with PCMs forming a core part of these initiatives. As building codes tighten and green incentives rise, Europe’s contribution to the global phase change materials for thermal management market is becoming increasingly influential. 

Asia Pacific emerges as the fastest-growing phase change materials for thermal management market 

Asia Pacific is now the fastest-growing region in the phase change materials for thermal management market. This growth is underpinned by increasing urbanization, energy efficiency mandates, and large-scale infrastructure development. China, India, Japan, and South Korea account for over 40 percent of global PCM consumption, with projections showing significant upward trends through 2032. 

China’s PCM production capacity exceeds 50,000 metric tons annually, and PCMs are being used in more than 1,000 infrastructure projects across major cities. In India, PCM-based cold storage and solar power thermal systems are being implemented under national programs such as Smart Cities and the ECBC. Japan and South Korea are deploying PCMs in consumer electronics and EVs to manage device overheating and increase battery life, solidifying Asia Pacific’s leadership in advanced thermal management. 

Middle East and Africa invest in efficient cooling through the phase change materials for thermal management market 

The phase change materials for thermal management market in the Middle East and Africa is expanding steadily due to extreme weather conditions and a focus on sustainable construction. Saudi Arabia’s Vision 2030 and the UAE’s renewable energy goals are accelerating PCM usage in real estate, solar energy, and healthcare. 

In Saudi Arabia’s NEOM development, buildings are being constructed with PCM-embedded materials to cut cooling demand by over 35 percent. Dubai has started retrofitting its public hospitals and shopping malls with PCM-based HVAC systems that can lower electricity usage by 20 to 30 percent. The growing need for cooling efficiency is turning this region into a long-term growth area for the global phase change materials for thermal management market. 

Latin America embraces renewable energy integration in the phase change materials for thermal management market 

Latin America is becoming an emerging market for phase change materials as governments and industries focus on renewable energy and cold chain logistics. Countries like Brazil, Mexico, and Chile are using PCMs in solar thermal plants and sustainable packaging solutions for their export industries. 

For instance, solar projects in Chile’s Atacama Desert use PCMs to store thermal energy during the day and release it overnight, helping stabilize power output. Brazil is using PCMs in refrigerated transport containers for agricultural exports, especially in areas where energy infrastructure is unreliable. These regional shifts are making Latin America a growing contributor to the global phase change materials for thermal management market. 

Diverse applications fuel segmentation growth in the phase change materials for thermal management market 

The phase change materials for thermal management market is segmented by type, form, temperature range, and end-use industry. Each category plays a significant role in shaping global demand. 

Organic PCMs, including paraffins, lead the market due to their low cost and reliable performance, accounting for around 45 percent of the global share. Inorganic PCMs, such as salt hydrates, are preferred in high-temperature industrial settings. Bio-based PCMs, though still developing, are gaining popularity in pharmaceutical and green building applications due to their sustainable profile. 

Form-wise, encapsulated PCMs are widely used in textiles, electronics, and coatings because of their durability and leak-proof properties. Bulk PCMs dominate large-scale applications such as district heating systems and solar power storage units. 

When segmented by temperature range, low-temperature PCMs are primarily used in cold chain logistics and healthcare. Medium-range PCMs (10–50 degrees Celsius) are found in construction and electronics. High-temperature PCMs, essential for industrial processes, are increasingly used in renewable power plants to manage fluctuating thermal loads. 

The building and construction sector remains the largest end-user, making up over 30 percent of the market. Electronics, automotive, healthcare, and energy sectors are also contributing significantly to demand. 

Production hubs anchor supply chains in the phase change materials for thermal management market 

The phase change materials for thermal management market is concentrated around major production hubs in China, the United States, and Germany. These countries benefit from advanced chemical manufacturing infrastructure, skilled labor, and high R&D investment. 

China is currently the largest producer of paraffin and salt hydrate PCMs, thanks to its low-cost manufacturing ecosystem. Germany’s producers specialize in bio-based and microencapsulated PCMs tailored to stringent EU standards. The United States leads in high-performance PCM solutions designed for aerospace, electronics, and medical use. 

Trade flows remain strong, with Asia Pacific and Europe exporting both standard and customized PCMs to regions with less-developed supply chains, including Africa, South America, and parts of the Middle East. 

Phase change materials for thermal management price trend reflects growing demand and supply challenges 

The phase change materials for thermal management price trend has been on an upward curve over the past five years. This is largely attributed to increasing demand, raw material shortages, and rising energy costs across global supply chains. Datavagyanik estimates an average annual price increase of 4.7 percent between 2018 and 2023. 

Encapsulated PCMs, in particular, have seen prices rise from around 12 dollars per kilogram in 2019 to over 16 dollars per kilogram by 2023. Bio-based PCMs are priced even higher—often ranging from 20 to 25 dollars per kilogram—due to their complex production processes and limited commercial-scale suppliers. 

Despite the cost, return on investment remains attractive for end users. For example, a cold storage unit using PCMs can achieve full ROI in under 24 months by reducing energy bills and product spoilage. In the electronics sector, using PCMs in data centers can lower cooling-related energy consumption by 30 percent, translating to millions in operational savings annually. 

Future outlook for phase change materials for thermal management price remains cautiously optimistic 

While prices have been increasing, the phase change materials for thermal management price trend is expected to stabilize over the next five years. This is due to production scaling, raw material diversification, and improving encapsulation technology. 

For example, new plant-based paraffin alternatives are being developed in Asia and Europe that can reduce reliance on petroleum inputs. Encapsulation costs are also dropping due to automation, which is making high-performance PCMs more affordable for mass market applications. 

Datavagyanik projects that while advanced and specialty PCMs will continue to command premium pricing, standard PCMs used in construction and logistics will see minor reductions in price by 2028. This price shift will encourage deeper market penetration, especially in cost-sensitive regions like Africa and Southeast Asia. 

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Leading Manufacturers in the Phase change materials for thermal management Market 

The phase change materials for thermal management market is led by a mix of multinational chemical giants and specialized thermal management innovators. These manufacturers play a crucial role in shaping the global supply chain, influencing technological advancements, and setting performance benchmarks across multiple industries including construction, electronics, automotive, renewable energy, and healthcare. 

Key players in the market include Croda International, BASF SE, Outlast Technologies, Henkel AG, Entropy Solutions, Phase Change Energy Solutions, Rubitherm Technologies, Honeywell International, Climator Sweden AB, and PCM Products Ltd. Each of these companies offers distinct phase change materials tailored to specific applications and temperature ranges. 

Croda International, a UK-based leader in specialty chemicals, has developed the CrodaTherm product line, which includes bio-based and non-toxic PCMs aimed at the construction and cold chain industries. These PCMs are widely used in pharmaceutical packaging and smart building materials. The company’s commitment to sustainable solutions has helped it capture a strong share of the bio-based segment of the phase change materials for thermal management market. 

BASF SE, one of the world’s largest chemical companies, operates a comprehensive PCM division through its Micronal PCM brand. These microencapsulated paraffin waxes are designed specifically for integration into building materials like plaster and drywall. BASF holds a significant share in the construction-related thermal management market, especially in Europe and North America. 

Outlast Technologies, based in the United States, pioneered the use of phase change materials in textiles and wearable products. The company’s Thermocules product line is integrated into activewear, footwear, and bedding to regulate body temperature. Outlast’s innovation-driven approach has earned it a dominant position in the textile segment of the phase change materials for thermal management market. 

Henkel AG has developed its PCM solutions primarily for electronics and automotive sectors. The company offers specialized formulations for battery management systems and thermal pads used in high-performance electronic devices. Henkel’s products are known for their durability, non-flammability, and superior conductivity. 

Entropy Solutions offers a proprietary line under the PureTemp brand, consisting of over 100 bio-based PCMs with melting points ranging from -40°C to +175°C. These products are applied across cold chain packaging, solar energy systems, and thermal regulation in textiles. Entropy Solutions is one of the few companies offering fully compostable PCM solutions, positioning it as a sustainability-focused leader in the phase change materials for thermal management market. 

Rubitherm Technologies, based in Germany, has built its brand around high-performance PCM solutions for industrial and commercial thermal management. Its RT series includes organic and inorganic PCMs for applications ranging from building insulation to solar thermal storage. Rubitherm’s focus on technical flexibility has enabled it to gain market share in niche industrial and renewable energy segments. 

Climator Sweden AB and PCM Products Ltd specialize in energy storage applications, particularly in HVAC systems, solar storage, and district heating. Both companies have extensive portfolios of encapsulated and bulk PCMs, and are particularly active in government and public infrastructure projects across Europe and the Middle East. 

Honeywell International, although relatively new to PCM manufacturing, is leveraging its global footprint and material science expertise to develop advanced PCMs for electronics and aerospace applications. Honeywell’s entry into this space is expected to intensify competition and expand the innovation landscape within the phase change materials for thermal management market. 

Phase change materials for thermal management Market Share by Manufacturers 

The current market share dynamics show BASF SE leading the market with approximately 15 to 18 percent of the global share, particularly strong in the construction and building materials segment. Croda International follows with a 10 to 12 percent market share, thanks to its early adoption of bio-based PCM technologies and a strong global distribution network. 

Outlast Technologies holds around 8 percent of the market, with its niche in textile and personal comfort products. Henkel AG captures roughly 7 to 9 percent, largely due to its stronghold in electronics, adhesives, and EV battery cooling systems. 

Entropy Solutions, with its innovative bio-based offerings, commands about 6 percent of the market, while Rubitherm Technologies maintains a similar share with a focus on thermal storage systems. The remaining market is distributed among smaller regional manufacturers and emerging players, especially in Asia Pacific and Latin America, where production is increasingly being localized to reduce costs and improve supply reliability. 

These market shares reflect not only sales volume but also strategic partnerships, patent holdings, and innovation capacity, which significantly influence long-term positioning in the phase change materials for thermal management market. 

Recent Developments and Industry News 

The phase change materials for thermal management market has seen notable developments in recent months, indicating a strong push toward innovation, sustainability, and global expansion. 

In January 2024, Croda International announced the launch of a next-generation CrodaTherm bio-PCM formulation with enhanced thermal conductivity and extended cycle life. This development is aimed at high-demand applications such as EV battery packs and industrial refrigeration. 

Entropy Solutions completed the expansion of its production facility in Minnesota in Q4 2023, doubling its manufacturing capacity to meet increasing demand from cold chain logistics and wearable technology sectors. The expansion is expected to boost their supply capability across North America and select European markets. 

BASF SE entered a strategic collaboration with a German prefab housing firm in March 2024 to supply Micronal PCM-integrated panels for energy-efficient homes. This partnership is projected to cover over 20,000 new homes by 2026, reinforcing BASF’s market leadership in sustainable building materials. 

In October 2023, Outlast Technologies signed a licensing agreement with a major Asian textile manufacturer to expand its Thermocules technology into smart uniforms and workwear. The collaboration is expected to drive significant growth in the Asia Pacific region through 2025. 

Rubitherm Technologies introduced a new line of high-temperature salt hydrate PCMs in February 2024, targeting industrial process heat recovery and solar thermal plants. These new formulations are designed to perform at operating ranges above 120°C, opening new commercial pathways. 

Henkel AG announced a PCM innovation center in California focused on electronics and automotive applications. Set to open in Q3 2024, the facility will focus on testing and scaling PCM-based solutions for thermal runaway protection in next-gen lithium-ion batteries. 

These developments collectively signal a robust and competitive landscape, with top manufacturers pushing forward in both volume and technological advancement. As demand across sectors continues to grow, manufacturers in the phase change materials for thermal management market are expected to invest more heavily in R&D, production automation, and global distribution strategies. 

 

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Market Scenario, Demand vs Supply, Average Product Price, Import vs Export, till 2035

• Global Phase change materials for thermal management Market revenue and demand by region
• Global Phase change materials for thermal management Market production and sales volume
• United States Phase change materials for thermal management Market revenue size and demand by country
• Europe Phase change materials for thermal management Market revenue size and demand by country
• Asia Pacific Phase change materials for thermal management Market revenue size and demand by country
• Middle East & Africa Phase change materials for thermal management Market revenue size and demand by country
• Latin America Phase change materials for thermal management Market revenue size and demand by
• Import-export scenario – United States, Europe, APAC, Latin America, Middle East & Africa
• Average product price – United States, Europe, APAC, Latin America, Middle East & Africa
• Market player analysis, competitive scenario, market share analysis
• Business opportunity analysis

Key questions answered in the Global Phase change materials for thermal management Market Analysis Report:

• What is the market size for Phase change materials for thermal management in United States, Europe, APAC, Middle East & Africa, Latin America?
• What is the yearly sales volume of Phase change materials for thermal management and how is the demand rising?
• Who are the top market players by market share, in each product segment?
• Which is the fastest growing business/ product segment?
• What should be the business strategies and Go to Market strategies?

The report covers Phase change materials for thermal management Market revenue, Production, Sales volume, by regions, (further split into countries): 

• Asia Pacific (China, Japan, South Korea, India, Indonesia, Vietnam, Rest of APAC)
• Europe (UK, Germany, France, Italy, Spain, Benelux, Poland, Rest of Europe)
• North America (United States, Canada, Mexico)
• Latin America (Brazil, Argentina, Rest of Latin America)
• Middle East & Africa

Table of Contents:

Phase Change Materials for Thermal Management Market

1. Introduction to Phase Change Materials (PCM) for Thermal Management
   1 Overview of PCM
   1.2 Scope of PCM Applications in Thermal Management
2. Classification of Phase Change Materials by Type
   1 Organic Phase Change Materials
   2.2 Inorganic Phase Change Materials
   2.3 Bio-based Phase Change Materials
3. Global PCM Market Dynamics
   1 Market Drivers
   3.2 Market Restraints
   3.3 Emerging Opportunities
   3.4 Industry Challenges
4. Global PCM Market Revenue and Forecast (2020-2035)
   1 Historical Market Size
   4.2 Market Forecast and Growth Projections
5. Regional Market Analysis
   1 North America PCM Market Size and Trends
   5.2 Europe PCM Market Size and Trends
   5.3 Asia-Pacific PCM Market Size and Trends
   5.4 Latin America PCM Market Size and Trends
   5.5 Middle East & Africa PCM Market Size and Trends
6. PCM Applications by Industry Vertical
   1 Building & Construction
   6.2 Healthcare & Pharmaceuticals
   6.3 Electronics and IT Equipment
   6.4 Transportation and Automotive
   6.5 Other Emerging Applications
7. Competitive Landscape
   1 Key PCM Manufacturers
   7.2 Market Share Analysis (2020-2030)
   7.3 Recent Developments and Innovations by Key Players
8. Global Production and Supply Analysis
   1 Production Capacity of PCM by Region
   8.2 Key Manufacturing Hubs and Supply Chain Analysis
9. Price Trends and Cost Analysis
   1 Historical and Current PCM Price Trends
   9.2 Manufacturing Cost Breakdown
   9.3 Analysis of Key Raw Materials and Suppliers
10. Trade Analysis
    1 Export and Import Patterns by Region
    10.2 Trade Flow Analysis (2020-2030)
11. Environmental and Regulatory Factors
    1 Environmental Impact of PCM Production
    11.2 Key Regional Regulations Governing PCM
12. Technological Advancements in PCM for Thermal Management
    1 Innovations in Material Composition
    12.2 Advancements in PCM Packaging and Delivery
13. PCM Distribution Channels and Marketing Strategies
    1 Distribution Networks and Key Distributors
    13.2 Strategies for Customer Acquisition and Retention
14. End-User Perspective
    1 Insights from Key Industries Using PCM
    14.2 Future Needs and Expectations of End Users
15. Future Market Trends and Opportunities
    1 Growing Demand in Energy-Efficient Applications
    15.2 Integration with Emerging Technologies (e.g., IoT, Smart Grids)
16. Investment Opportunities and Market Entry Strategies
    1 Investment Hotspots for PCM Development
    16.2 Recommendations for New Entrants
17. Forecast of PCM Production and Demand (2020-2035)
    1 Global PCM Production Outlook
    17.2 Regional PCM Demand Forecast
18. Conclusion and Strategic Recommendations
    1 Key Takeaways from Market Analysis
    18.2 Strategic Recommendations for Stakeholders
19. Appendices
    1 List of Acronyms and Abbreviations
    19.2 References and Data Sources