Phase Change Material Market Size, Share, Trends & Forecast

Q: What is the global market size of Phase Change Material Market?

Global Phase Change Material Market size was valued at USD 477 million in 2021 and is poised to grow from USD 612 million in 2023 to USD 3,004 million by 2030, at a CAGR of 25.5% during the forecast period (2023-2030).

Phase Change Material Market Competitive Landscape

Key players in the global phase change material market are investing in research and development activities to stay ahead in the competition. They are adopting various strategies such as mergers & acquisitions, collaborations, and expanding product portfolios.

Phase Change Material Market Top Player’s Company Profiles

Cold Chain Technologies, Inc. (US),

Croda International Plc. (UK),

Microtek Laboratories Inc. (US),

Sasol Limited (South Africa),

PureTemp LLC. (US),

Henkel AG & Company KGAA (Germany),

Outlast Technologies LLC (US),

Advansa B.V. (The Netherlands),

AI Technology Inc. (US),

Climator Sweden AB (Sweden),

Ciat Group (France),

Honeywell Electronic Materials, Inc. (US),

Phase Change Materials Products Ltd. (UK),

Rubitherm Technologies GmbH (Germany),

Teappcm (India)

Phase Change Material Market

FAQs

Phase Change Material Market size was valued at USD 477 million in 2021 and is poised to grow from USD 612 million in 2023 to USD 3,004 million by 2030, at a CAGR of 25.5% during the forecast period (2023-2030).

Key players in the phase change material market are investing in research and development activities to stay ahead in the competition. They are adopting various strategies such as mergers & acquisitions, collaborations, and expanding product portfolios. 'Cold Chain Technologies, Inc. (US),', 'Croda International Plc. (UK),', 'Microtek Laboratories Inc. (US),', 'Sasol Limited (South Africa),', 'PureTemp LLC. (US),', 'Henkel AG & Company KGAA (Germany),', 'Outlast Technologies LLC (US),', 'Advansa B.V. (The Netherlands),', 'AI Technology Inc. (US),', 'Climator Sweden AB (Sweden),', 'Ciat Group (France),', 'Honeywell Electronic Materials, Inc. (US),', 'Phase Change Materials Products Ltd. (UK),', 'Rubitherm Technologies GmbH (Germany),', 'Teappcm (India)'

Ongoing advancements in materials science and engineering have led to the development of more efficient and cost-effective phase change materials. These innovations have expanded their applications across various industries, spurring demand.

The building and construction industry is set to become a dominant force in the market, fueled by the increasing focus on environmentally friendly construction and energy conservation. This emphasis has led to a rising demand for innovative and highly effective construction materials. Phase change materials (PCM) have emerged as a valuable solution, finding applications in various areas, including under-floor electric heating systems, PCM-filled glass windows, and thermally efficient concrete.

In recent times, significant technological advancements have propelled the European market to the forefront of the phase change materials (PCM) industry, with North America following closely behind. This industry is witnessing consolidation as various businesses prioritize research and development to explore innovative applications. A pivotal role in driving progress is played by a non-profit organization established in Germany, which fosters cooperation between industries to enhance the phase change materials business worldwide. Key end-users in the European market, including healthcare, aerospace, and automotive sectors, are experiencing a surge in demand for phase change materials. The well-developed manufacturing sector in Europe, with Germany as its leading manufacturer and exporter of PCM, has been instrumental in sustaining Europe's dominance in this industry. As a result, these businesses aspire to achieve significant market share in the phase transition materials sector in the coming years. This stability is projected to persist in the European market for phase change materials.

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Phase Change Material Market Competitive Landscape

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