The Global Advanced Phase Change Materials Market size was valued to USD 1.41 billion in 2019, and is predicted to garner USD 6.48 billion by 2030, witnessing a CAGR of 14.8% from 2020-2030.

Phase Change Materials offer a range of thermal management solutions, by facilitating temporary storage of energy, either by releasing or absorbing sufficient amount of energy during phase transition, i.e. changing their states from solid to liquid and vice-versa; hence providing desired heat or cooling. The advanced phase change materials (Advanced PCMs) can store as well as provide massive volume of thermal energy after transition from one state to the other.

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Top Companies: 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 and others.

The advanced phase change materials market share is analyzed based on type, application, and geography. Based on type, the advanced phase change materials market is segmented into organic, inorganic, and bio-based. Based on application, the advanced phase change materials market covers building & construction, thermal energy storage, cold chain & packaging, HVAC, shipping & transportation, electronics, textiles, and others. Geographic breakdown and analysis of each of the previously mentioned segment include region comprising North America, Europe, Asia-Pacific, and LAMEA.

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Europe is the fastest growing region in the advanced phase change materials market. The strict building energy codes to reduce and minimize emission of harmful gases, increasing demand for green buildings, and demand for low-carbon & net-zero energy buildings are factors to lead the growth of European region. Asia-Pacific region is anticipated to grow with highest growth rate during the forecast period owing to growing construction industry, rapid industrialization, and strong emphasis on energy security.

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