Phase Change Materials Market Research Report - Global Forecast till 2027

Phase Change Materials (PCM) Market: Information by Type (Organic and Inorganic), Application (Building & Construction, HVAC, Packaging, Cold Chain Transportation/Storage, Thermal Energy Storage [TES], Refrigeration & Equipment, Textiles, Electronics, Automotive and others) and Region (Asia-Pacific, North America, Europe, Latin America and Middle East & Africa) - Forecast till 2027

ID: MRFR/CnM/6810-HCR | February, 2021 | Region : Global

Market Synopsis


Phase Change Materials Market is expected to register over 16% CAGR to reach to USD 4.2 billion by end of 2025.


Phase change materials (PCMs) are materials that change phase from solid to liquid and liquid to solid i.e., they absorb heat during melting and release the same during crystallization/freezing. PCMs are ideally used in thermal energy storage systems. Unlike conventional heat storage materials, PCMs absorb a large amount of heat without getting hotter. Phase change materials absorb and release heat while maintaining persistent temperature. PCMs finds use in a wide array of applications including HVAC construction activities, electronics, thermal energy storage systems refrigeration & equipment cold chain transportation, and temperature-controlled packaging in the food, healthcare, textile, and automotive industries. Based on type, phase change materials can be categorized into organic and inorganic, wherein inorganic materials such as salt hydrates accounted for the largest market share in 2018. However, the use of organic phase change materials is likely to increase at a significant rate during the review period due to the growing preference for environmentally friendly materials, particularly in the developed regions.


The global demand for phase change material products is driven by the increasing demand for energy-efficient construction materials in buildings to conserve energy sources and reduce harmful emissions. The expanding construction industry with a rise in residential construction across the globe is supporting market growth. Additionally, the increasing popularity of the Leadership in Energy and Environmental Design (LEED) certification, a green building rating system to promote green building concept, has resulted in increased construction activities globally.


The increasing use of phase change materials in electronics and textile is another important factor supporting market growth. PCMs are used in various electronic and optoelectronic applications such as digital memory, RF switches, and switchable absorbers. The expanding electrical & electronics industry on account of increasing demand for portable consumer electronics is likely to propel the market growth.


Factors such as growing preference for organic phase change materials that are based on bio-based sources and increased investment in the development of macro and microencapsulation technologies are expected to create lucrative opportunities for the players operating in the global phase change materials market during the review period. However, the high cost associated with organic phase change materials is expected to hamper the market growth during the review period.


Global Phase Change Materials Market Share, by Application, 2018 (%)  Phase Change Materials Market


Source: MRFR Analysis


Regional Analysis


The phase change material market in Europe accounted for the largest share in 2018 and is expected to register a significant CAGR during the review period. The growth can be attributed to the increased spending on renovation activities to reduce the energy consumption of buildings. The expanding construction industry in Western and Northern Europe with increased spending on construction, renovation, and maintenance to meet the growing requirement of modern architecture and smart buildings is another important factor propelling market growth. The expanding packaging industry with an increase in consumption of packaged food products and significant growth of the healthcare industry in the region are also projected to drive the regional market growth.


The North American market accounted for the second-largest share of the global phase change materials market and is expected to record a healthy CAGR during the review period. The market growth is attributed to the surge in the demand for energy-efficient construction materials coupled with increasing construction spending in the region. In addition, the growing preference for bio-based phase change materials such as paraffin and fatty acid is supporting market growth.


Asia-Pacific is another prominent market on account of increasing residential and commercial construction coupled with growing urbanization and changing lifestyles. Additionally, increasing investments by the government in developing nations such as India, China, and ASEAN for the infrastructure development has resulted in an increase in construction activities, which is expected to propel the market growth during the review period. The growth of major end-use industries such as packaging, healthcare, electrical & electronics, and textile is likely to fuel the demand for phase change materials in the region.


The markets in the Middle East & Africa and Latin America are expected to grow at a significant rate during the review period on account of increasing investments in the construction sector and the development of portable electronics.


Segmentation


The global phase change materials market has been segmented by type, application, and region.


On the basis of type, the market has been segmented into organic and inorganic phase change materials. The organic phase change materials segment has been further sub-segmented into paraffins and bio-based compounds. The inorganic phase change materials segment has been categorized into salt hydrates, metallic, and others.


Based on application, the market has been divided into building & construction, HVAC, packaging, cold chain transportation/storage, thermal energy storage (TES), refrigeration & equipment, textiles, electronics, automotive, and others. The packaging segment has been further sub-segmented into food and pharmaceuticals, whereas the electronics segment has been sub-segmented into phase change memory (PCRAM) and thermal interface material (TIM).


The global market, by region, has been categorized into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.


Key Players


PCM Products Ltd (UK), Honeywell International Inc (US), Global-E-Systems Europe B.V. (the Netherlands), Croda International Plc (UK), Phase Change Energy Solutions Inc (US), Henkel AG & Co. KGaA (Germany), Laird (UK), Sasol Limited (South Africa), PURETEMP LLC (US), Microtek Laboratories, Inc (US), Cold Chain Technologies (US), Cryopak, A TCP Company (US), Climator Sweden AB (Sweden), and Salca BV (the Netherlands).


Intended Audience



  • Phase change materials manufacturers

  • Traders and distributors of phase change materials

  • Research and development institutes

  • Potential investors

  • Raw material suppliers

  • Nationalized laboratories

Table of Contents

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Market Structure

3 Market Research Methodology

3.1 Research Process

3.2 Secondary Research

3.3 Primary Research

3.4 Forecast Model

4 Market Landscape

4.1 Porter’s Five Forces Analysis

4.1.1 Threat of New Entrants

4.1.2 Bargaining Power of Buyers

4.1.3 Bargaining Power of Suppliers

4.1.4 Threat of Substitutes

4.1.5 Segment Rivalry

4.2 Value Chain/Supply Chain of Global Phase Change Materials (PCM) Market

5 Industry Overview of Global Phase Change Materials (PCM) Market

5.1 Introduction

5.2 Growth Drivers

5.3 Impact Analysis

5.4 Market Challenges

6 Market Trends

6.1 Introduction

6.2 Growth Trends

6.3 Impact Analysis

7. Global Phase Change Materials (PCM) Market, by Type

7.1 Introduction

7.2 Organic

7.2.1 Market Estimates & Forecast, 2020–2027

7.2.2 Market Estimates & Forecast, by Region, 2020–2027

7.2.3 Paraffins

7.2.3.1 Market Estimates & Forecast, 2020–2027

7.2.3.2 Market Estimates & Forecast, by Region, 2020–2027

7.2.4 Bio-Based Compounds

7.2.4.1 Market Estimates & Forecast, 2020–2027

7.2.4.2 Market Estimates & Forecast, by Region, 2020–2027

7.3 Inorganic

7.3.1 Market Estimates & Forecast, 2020–2027

7.3.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.3 Salt Hydrates

7.3.3.1 Market Estimates & Forecast, 2020–2027

7.3.3.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.4 Metallic

7.3.4.1 Market Estimates & Forecast, 2020–2027

7.3.4.2 Market Estimates & Forecast, by Region, 2020–2027

7.3.4 Others

7.3.4.1 Market Estimates & Forecast, 2020–2027

7.3.4.2 Market Estimates & Forecast, by Region, 2020–2027

8. Global Phase Change Materials (PCM) Market, by Application

8.1 Introduction

8.2 Building & Construction

8.2.1 Market Estimates & Forecast, 2020–2027

8.2.2 Market Estimates & Forecast, by Region, 2020–2027

8.3 HVAC

8.3.1 Market Estimates & Forecast, 2020–2027

8.3.2 Market Estimates & Forecast, by Region, 2020–2027

8.4 Packaging

8.4.1 Market Estimates & Forecast, 2020–2027

8.4.2 Market Estimates & Forecast, by Region, 2020–2027

8.4.3 Food

8.4.3.1 Market Estimates & Forecast, 2020–2027

8.4.3.2 Market Estimates & Forecast, by Region, 2020–2027

8.4.4 Pharmaceuticals

8.4.4.1 Market Estimates & Forecast, 2020–2027

8.4.4.2 Market Estimates & Forecast, by Region, 2020–2027

8.4.5 Others

8.4.5.1 Market Estimates & Forecast, 2020–2027

8.4.5.2 Market Estimates & Forecast, by Region, 2020–2027

8.5 Cold Chain Transportation/Storage

8.5.1 Market Estimates & Forecast, 2020–2027

8.5.2 Market Estimates & Forecast, by Region, 2020–2027

8.6 Thermal Energy Storage (TES)

8.6.1 Market Estimates & Forecast, 2020–2027

8.6.2 Market Estimates & Forecast, by Region, 2020–2027

8.6.3 Boiler/ Power Plant

8.6.3.1 Market Estimates & Forecast, 2020–2027

8.6.3.2 Market Estimates & Forecast, by Region, 2020–2027

8.6.4 Solar Energy Storage

8.6.4.1 Market Estimates & Forecast, 2020–2027

8.6.4.2 Market Estimates & Forecast, by Region, 2020–2027

8.6.5 Geothermal Energy Storage

8.6.5.1 Market Estimates & Forecast, 2020–2027

8.6.5.2 Market Estimates & Forecast, by Region, 2020–2027

8.7 Refrigeration & Equipment

8.7.1 Market Estimates & Forecast, 2020–2027

8.7.2 Market Estimates & Forecast, by Region, 2020–2027

8.8 Textiles

8.8.1 Market Estimates & Forecast, 2020–2027

8.8.2 Market Estimates & Forecast, by Region, 2020–2027

8.9 Electronics

8.9.1 Market Estimates & Forecast, 2020–2027

8.9.2 Market Estimates & Forecast, by Region, 2020–2027

8.9.2 Phase Change Memory (PCRAM)

8.9.1 Market Estimates & Forecast, 2020–2027

8.9.2 Market Estimates & Forecast, by Region, 2020–2027

8.9.2 Thermal Interface Material (TIM)

8.9.1 Market Estimates & Forecast, 2020–2027

8.9.2 Market Estimates & Forecast, by Region, 2020–2027

8.9.2 Others

8.9.1 Market Estimates & Forecast, 2020–2027

8.9.2 Market Estimates & Forecast, by Region, 2020–2027

8.10 Automotive

8.10.1 Market Estimates & Forecast, 2020–2027

8.10.2 Market Estimates & Forecast, by Region, 2020–2027

8.11 Others

8.11.1 Market Estimates & Forecast, 2020–2027

8.11.2 Market Estimates & Forecast, by Region, 2020–2027

9. Global Phase Change Materials (PCM) Market, by Region

9.1 Introduction

9.2 North America

9.2.1 Market Estimates & Forecast, 2020–2027

9.2.2 Market Estimates & Forecast, by Type, 2020–2027

9.2.3 Market Estimates & Forecast, by Application, 2020–2027

9.2.4 US

9.2.4.1 Market Estimates & Forecast, 2020–2027

9.2.4.2 Market Estimates & Forecast, by Type, 2020–2027

9.2.4.3 Market Estimates & Forecast, by Application, 2020–2027

9.2.5 Canada

9.2.5.1 Market Estimates & Forecast, 2020–2027

9.2.5.2 Market Estimates & Forecast, by Type, 2020–2027

9.2.5.3 Market Estimates & Forecast, by Application, 2020–2027

9.3 Europe

9.3.1 Market Estimates & Forecast, 2020–2027

9.3.2 Market Estimates & Forecast, by Type, 2020–2027

9.3.3 Market Estimates & Forecast, by Application, 2020–2027

9.3.4 Germany

9.3.4.1 Market Estimates & Forecast, 2020–2027

9.3.4.2 Market Estimates & Forecast, by Type, 2020–2027

9.3.4.3 Market Estimates & Forecast, by Application, 2020–2027

9.3.5. France

9.3.5.1 Market Estimates & Forecast, 2020–2027

9.3.5.2 Market Estimates & Forecast, by Type, 2020–2027

9.3.5.3 Market Estimates & Forecast, by Application, 2020–2027

9.3.6 Italy

9.3.6.1 Market Estimates & Forecast, 2020–2027

9.3.6.2 Market Estimates & Forecast, by Type, 2020–2027

9.3.6.3 Market Estimates & Forecast, by Application, 2020–2027

9.3.7 Spain

9.3.7.1 Market Estimates & Forecast, 2020–2027

9.3.7.2 Market Estimates & Forecast, by Type, 2020–2027

9.3.7.3 Market Estimates & Forecast, by Application, 2020–2027

9.3.8 UK

9.3.8.1 Market Estimates & Forecast, 2020–2027

9.3.8.2 Market Estimates & Forecast, by Type, 2020–2027

9.3.8.3 Market Estimates & Forecast, by Application, 2020–2027

9.3.9 Russia

9.3.9.1 Market Estimates & Forecast, 2020–2027

9.3.9.2 Market Estimates & Forecast, by Type, 2020–2027

9.3.9.3 Market Estimates & Forecast, by Application, 2020–2027

9.3.10 Poland

9.3.10.1 Market Estimates & Forecast, 2020–2027

9.3.10.2 Market Estimates & Forecast, by Type, 2020–2027

9.3.10.3 Market Estimates & Forecast, by Application, 2020–2027

9.4 Asia-Pacific

9.4.1 Market Estimates & Forecast, 2020–2027

9.4.2 Market Estimates & Forecast, by Type, 2020–2027

9.4.3 Market Estimates & Forecast, by Application, 2020–2027

9.4.4 China

9.4.4.1 Market Estimates & Forecast, 2020–2027

9.4.4.2 Market Estimates & Forecast, by Type, 2020–2027

9.4.4.3 Market Estimates & Forecast, by Application, 2020–2027

9.4.5 India

9.4.4.1 Market Estimates & Forecast, 2020–2027

9.4.4.2 Market Estimates & Forecast, by Type, 2020–2027

9.4.4.3 Market Estimates & Forecast, by Application, 2020–2027

9.4.6 Japan

9.4.5.1 Market Estimates & Forecast, 2020–2027

9.4.5.2 Market Estimates & Forecast, by Type, 2020–2027

9.4.5.3 Market Estimates & Forecast, by Application, 2020–2027

9.4.7 Australia & New Zealand

9.4.7.1 Market Estimates & Forecast, 2020–2027

9.4.7.2 Market Estimates & Forecast, by Type, 2020–2027

9.4.7.3 Market Estimates & Forecast, by Application, 2020–2027

9.4.8 Indonesia

9.4.8.1 Market Estimates & Forecast, 2020–2027

9.4.8.2 Market Estimates & Forecast, by Type, 2020–2027

9.4.8.3 Market Estimates & Forecast, by Application, 2020–2027

9.4.9 Thailand

9.4.9.1 Market Estimates & Forecast, 2020–2027

9.4.9.2 Market Estimates & Forecast, by Type, 2020–2027

9.4.9.3 Market Estimates & Forecast, by Application, 2020–2027

9.4.10 Malaysia

9.4.10.1 Market Estimates & Forecast, 2020–2027

9.4.10.2 Market Estimates & Forecast, by Type, 2020–2027

9.4.10.3 Market Estimates & Forecast, by Application, 2020–2027

9.4.11 Rest of Asia-Pacific

9.4.11.1 Market Estimates & Forecast, 2020–2027

9.4.11.2 Market Estimates & Forecast, by Type, 2020–2027

9.4.11.3 Market Estimates & Forecast, by Application, 2020–2027

9.5 Middle East & Africa

9.5.1 Market Estimates & Forecast, 2020–2027

9.5.2 Market Estimates & Forecast, by Type, 2020–2027

9.5.3 Market Estimates & Forecast, by Application, 2020–2027

9.5.4 Turkey

9.5.4.1 Market Estimates & Forecast, 2020–2027

9.5.4.2 Market Estimates & Forecast, by Type, 2020–2027

9.5.4.3 Market Estimates & Forecast, by Application, 2020–2027

9.5.5 Israel

9.5.5.1 Market Estimates & Forecast, 2020–2027

9.5.5.2 Market Estimates & Forecast, by Type, 2020–2027

9.5.5.3 Market Estimates & Forecast, by Application, 2020–2027

9.5.6 North Africa

9.5.6.1 Market Estimates & Forecast, 2020–2027

9.5.6.2 Market Estimates & Forecast, by Type, 2020–2027

9.5.6.3 Market Estimates & Forecast, by Application, 2020–2027

9.5.7 GCC

9.5.7.1 Market Estimates & Forecast, 2020–2027

9.5.7.2 Market Estimates & Forecast, by Type, 2020–2027

9.5.7.3 Market Estimates & Forecast, by Application, 2020–2027

9.5.8 Rest of the Middle East & Africa

9.5.8.1 Market Estimates & Forecast, 2020–2027

9.5.8.2 Market Estimates & Forecast, by Type, 2020–2027

9.5.8.3 Market Estimates & Forecast, by Application, 2020–2027

9.6 Latin America

9.6.1 Market Estimates & Forecast, 2020–2027

9.6.2 Market Estimates & Forecast, by Type, 2020–2027

9.6.3 Market Estimates & Forecast, by Application, 2020–2027

9.6.4 Brazil

9.6.4.1 Market Estimates & Forecast, 2020–2027

9.6.4.2 Market Estimates & Forecast, by Type, 2020–2027

9.6.4.3 Market Estimates & Forecast, by Application, 2020–2027

9.6.5 Argentina

9.6.5.1 Market Estimates & Forecast, 2020–2027

9.6.5.2 Market Estimates & Forecast, by Type, 2020–2027

9.6.5.3 Market Estimates & Forecast, by Application, 2020–2027

9.6.6 Mexico

9.6.6.1 Market Estimates & Forecast, 2020–2027

9.6.6.2 Market Estimates & Forecast, by Type, 2020–2027

9.6.6.3 Market Estimates & Forecast, by Application, 2020–2027

9.6.7 Rest of Latin America

9.6.7.1 Market Estimates & Forecast, 2020–2027

9.6.7.2 Market Estimates & Forecast, by Type, 2020–2027

9.6.7.3 Market Estimates & Forecast, by Application, 2020–2027

10. Company Landscape

11. Company Profiles

11.1 PCM Products Ltd

11.1.1 Company Overview

11.1.2 Type/Business Segment Overview

11.1.3 Financial Updates

11.1.4 Key Developments

11.2 Honeywell International Inc.

11.2.1 Company Overview

11.2.2 Type/Business Segment Overview

11.2.3 Financial Updates

11.2.4 Key Developments

11.3 Global-E-Systems Europe B.V.

11.3.1 Company Overview

11.3.2 Type/Business Segment Overview

11.3.3 Financial Updates

11.3.4 Key Developments

11.4 Croda International Plc

11.4.1 Company Overview

11.4.2 Type/Business Segment Overview

11.4.3 Financial Updates

11.4.4 Key Developments

11.5 Phase Change Energy Solutions Inc.

11.5.1 Company Overview

11.5.2 Type/Business Segment Overview

11.5.3 Financial Updates

11.5.4 Key Developments

11.6 Henkel AG & Co. KGaA

11.6.1 Company Overview

11.6.2 Type/Business Segment Overview

11.6.3 Financial Updates

11.6.4 Key Developments

11.7 Laird

11.7.1 Company Overview

11.7.2 Type/Business Segment Overview

11.7.3 Financial Updates

11.7.4 Key Developments

11.8 Sasol Limited

11.8.1 Company Overview

11.8.2 Type/Business Segment Overview

11.8.3 Financial Updates

11.8.4 Key Developments

11.9 PURETEMP LLC

11.9.1 Company Overview

11.9.2 Type/Business Segment Overview

11.9.3 Financial Updates

11.9.4 Key Developments

11.10 Microtek Laboratories, Inc.

11.10.1 Company Overview

11.10.2 Type/Business Segment Overview

11.10.3 Financial Updates

11.10.4 Key Developments

11.11 Cold Chain Technologies

11.11.1 Company Overview

11.11.2 Type/Business Segment Overview

11.11.3 Financial Updates

11.11.4 Key Developments

11.12 Cryopak, A TCP Company

11.12.1 Company Overview

11.12.2 Type/Business Segment Overview

11.12.3 Financial Updates

11.12.4 Key Developments

11.13 Climator Sweden AB

11.13.1 Company Overview

11.13.2 Type/Business Segment Overview

11.13.3 Financial Updates

11.13.4 Key Developments

11.14 Salca BV

11.14.1 Company Overview

11.14.2 Type/Business Segment Overview

11.14.3 Financial Updates

11.14.4 Key Developments

12. Conclusion

LIST OF TABLES

Table 1 World Population in Major Regions (2020–2030)

Table 2 Global Phase Change Materials (PCM) Market, by Region, 2020–2027

Table 3 North America: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table 4 Europe: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table 5 Asia-Pacific: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table 7 Middle East & Africa: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table 6 Latin America: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table 8 Global Phase Change Materials (PCM) Type Market, by Region, 2020–2027

Table 9 North America: Phase Change Materials (PCM) Type Market, by Country, 2020–2027

Table 10 Europe: Phase Change Materials (PCM) Type Market, by Country, 2020–2027

Table11 Asia-Pacific: Phase Change Materials (PCM) Type Market, by Country, 2020–2027

Table13 Middle East & Africa: Phase Change Materials (PCM) Type Market, by Country, 2020–2027

Table12 Latin America: Phase Change Materials (PCM) Type Market, by Country, 2020–2027

Table14 North America: Phase Change Materials (PCM) Application Market, by Country, 2020–2027

Table13 Europe: Phase Change Materials (PCM) Application Market, by Country, 2020–2027

Table14 Asia-Pacific: Phase Change Materials (PCM) Application Market, by Country, 2020–2027

Table16 Middle East & Africa: Phase Change Materials (PCM) Application Market, by Country, 2020–2027

Table15 Latin America: Phase Change Materials (PCM) Application Market, by Country, 2020–2027

Table23 Global Type Market, by Region, 2020–2027

Table24 Global Application Market, by Region, 2020–2027

Table25 North America: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table26 North America: Phase Change Materials (PCM) Market, by Type, 2020–2027

Table27 North America: Phase Change Materials (PCM) Market, by Application, 2020–2027

Table28 Europe: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table29 Europe: Phase Change Materials (PCM) Market, by Type, 2020–2027

Table30 Europe: Phase Change Materials (PCM) Market, by Application, 2020–2027

Table31 Asia-Pacific: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table32 Asia-Pacific: Phase Change Materials (PCM) Market, by Type, 2020–2027

Table33 Asia-Pacific: Phase Change Materials (PCM) Market, by Application, 2020–2027

Table36 Middle East & Africa: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table37 Middle East & Africa Phase Change Materials (PCM) Market, by Type, 2020–2027

Table33 Middle East & Africa: Phase Change Materials (PCM) Market, by Application, 2020–2027

Table34 Latin America: Phase Change Materials (PCM) Market, by Country, 2020–2027

Table35 Latin America Phase Change Materials (PCM) Market, by Type, 2020–2027

Table33 Latin America: Phase Change Materials (PCM) Market, by Application, 2020–2027

LIST OF FIGURES

FIGURE 1 Global Phase Change Materials (PCM) Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global Phase Change Materials (PCM) Market

FIGURE 4 Value Chain of Global Phase Change Materials (PCM) Market

FIGURE 5 Share of Global Phase Change Materials (PCM) Market in 2020, by Country (%)

FIGURE 6 Global Phase Change Materials (PCM) Market, 2020–2027,

FIGURE 7 Sub-Segments of Type, 2020

FIGURE 8 Global Phase Change Materials (PCM) Market Size, by Type, 2020

FIGURE 9 Share of Global Phase Change Materials (PCM) Market, by Type, 2020–2027

FIGURE 10 Sub-Segments of Application

FIGURE 11 Global Phase Change Materials (PCM) Market Size, by Application, 2020

FIGURE 12 Share of Global Phase Change Materials (PCM) Market, by Application, 2020–2027


Phase Change Materials Market