The advanced phase change materials market is estimated to be valued at USD 1.78 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 11.1% from 2024 to 2031. Advanced phase change materials (PCMs) are substances with high heat storage capacity which undergo phase transition, typically from solid to liquid, at certain temperatures. They are capable of absorbing, storing, and releasing heat energy enabling temperature regulation and energy storage. These materials have found widespread applications from building and construction to textiles and packaging. The increasing focus on energy efficiency and demand for smart and sustainable buildings is driving research on advanced PCMs with improved thermal properties and ability to work at higher temperature ranges. Development of bio-based and nano-engineered PCMs is also gaining traction to boost performance and reduce costs.

Market Dynamics:

The global advanced phase change materials market is witnessing strong growth driven by factors such as rising need for energy conservation in various end-use industries, implementation of stricter building energy codes, and focus on sustainable infrastructure development. Moreover, increasing investment by governments worldwide in research of thermal energy storage technologies is creating new opportunities. However, high initial costs compared to conventional materials continue to restrain market penetration. Manufacturers are overcoming this by developing economical microencapsulated PCM products. Ongoing nano-engineering of PCMs to achieve higher heat of fusion per unit volume without altering other properties is another growth opportunity.

Key Features of the Study:                                                                          

• This report provides in-depth analysis of the global advanced phase change materials market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global advanced phase change materials market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include E.I. du Pont de Nemours & Company, BASF, Advansa B.V., Honeywell International, Cryopak, Dow Building Solutions, Phase Change Products Pty Ltd., Climate Sweden AB, Salca BV, Rubitherm Technologies GmbH, AI Technology Inc., Boyd Corporation, Cold Chain Technologies, Croda International PLC, Henkel Ag & Company KGaA, Honeywell Electronic Materials, Microtek Laboratories Inc., Pluss Advanced Technologies, Puretemp LLC, and Sasol Limited.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global advanced phase change materials market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global advanced phase change materials market

Detailed Segmentation-

• By Product Type:
• • Paraffin
  • Salt Hydrates
  • Others
• By  Application
• • Building and construction
  • Commercial Refrigeration
  • HVAC
  • Energy Storage
  • Shipping and Transportation
  • Others
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • E.I. du Pont de Nemours & Company
  • BASF
  • Advansa B.V.
  • Honeywell International
  • Cryopak
  • Dow Building Solutions
  • Phase Change Products Pty Ltd.
  • Climate Sweden AB
  • Salca BV
  • Rubitherm Technologies GmbH
  • AI Technology Inc.
  • Boyd Corporation
  • Cold Chain Technologies
  • Croda International PLC
  • Henkel Ag & Company KGaA
  • Honeywell Electronic Materials
  • Microtek Laboratories Inc.
  • Pluss Advanced Technologies
  • Puretemp LLC
  • Sasol Limited.