Phase Change Materials Market

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Phase Change Materials Market by Type (Organic, Inorganic, Eutectic), Application (Building & Construction, HVAC, Cold Chain & Packaging, Electronics), and Region - Global Forecast to 2029

FREE BROCHURE FREE SAMPLE REPORT
Report Code: AD 2999 May, 2024, by marketsandmarkets.com

In terms of value, phase change materials market size is projected to  increase from USD 628 million in 2024 to USD 1,383 million by 2029, at a CAGR of 17.1%. Phase change materials are utilized for their unique ability to store and release large amounts of thermal energy during phase transitions, such as melting and solidification. This property allows them to effectively regulate temperatures in various applications, ranging from thermal management in building & construction, HVAC, cold chain & packaging, thermal energy storage, refrigeration & equipment, textiles, electronics to temperature-controlled in other applications.

Phase Change Materials Market

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Phase Change Materials Market

Market Dynamics

Driver: Use of phase change materials for peak load shifting

Phase change materials are emerging as a savvy solution for peak load shifting in various industries. By leveraging the unique ability of phase change materials to absorb and release large amounts of thermal energy during phase transitions, businesses can optimize energy consumption patterns. This technology enables the storing of excess energy during off-peak hours, when electricity rates are lower, and releasing it during peak demand periods, thus reducing reliance on expensive peak-time electricity. Implementing PCM-based peak load shifting strategies enhances operational efficiency, minimizes energy costs, and contributes to a more sustainable energy ecosystem, aligning with businesses' bottom-line goals and environmental stewardship initiatives.

Restraints: Lack of awareness of benefits of phase change materials

The lack of awareness regarding the benefits of phase change materials poses a significant restraint to their widespread adoption in various industries. Despite their potential to optimize energy usage, enhance thermal comfort, and improve sustainability, many businesses remain uninformed about phase change materials technology. This lack of awareness stems from limited education and outreach efforts, compounded by the complexity of understanding phase change materials applications and their potential advantages. As a result, decision-makers may overlook phase change materials solutions in favor of more familiar or conventional alternatives, missing out on opportunities for cost savings, efficiency gains, and environmental benefits that phase change materials technology can offer to their operations.

Opportunities: The rise in the need for cold chain logistics

The escalating demand for cold chain logistics presents a compelling opportunity for businesses across various sectors. As consumer preferences shift towards fresh and perishable goods, there's an increasing necessity for maintaining precise temperature control throughout the supply chain. This demand surge is particularly evident in industries like food, pharmaceuticals, and biotechnology. Businesses capable of offering robust cold chain logistics solutions stand to capitalize on this trend by ensuring product integrity, extending shelf life, and meeting stringent regulatory requirements. Moreover, catering to the growing global market for temperature-sensitive goods opens avenues for revenue growth, strategic partnerships, and differentiation in a competitive landscape.

Challenges: High cost of switching from conventional materials

The high cost of switching from conventional materials represents a significant challenge for businesses considering the adoption of alternative solutions, such as phase change materials. Transitioning from established materials to innovative phase change materials technology often involves substantial upfront investments in research, development, infrastructure, and retooling of manufacturing processes. Additionally, there may be expenses associated with staff training and reconfiguration of supply chains. Overcoming this challenge requires careful cost-benefit analysis, long-term planning, and effective change management strategies to justify and facilitate the transition to PCM-based solutions.

Phase Change Materials Market Ecosystem

Leading companies in this market include well-established phase change materials manufacturers. These businesses have been in business for a while and have an extensive range of products, pioneering technologies, and strong international sales and marketing networks. Top companies in this market include Honeywell International Inc. (US), DuPont de Nemours, Inc. (US), Croda International Plc (UK), Boyd Corporation (US), Sasol Limited (South Africa), Outlast Technologies LLC (US), Climator Sweden AB (Sweden), Rubitherm Technologies GmbH (Germany), PureTemp LLC (US), and Phase Change Solutions (US).

Phase Change Materials Market Ecosystem

“Based on type, inorganic was the second largest type for phase change materials in 2023, in terms of value.”

Inorganic segment being the second largest type in the phase change materials market in 2023 is their compatibility with high-temperature applications. Inorganic phase change materials exhibit robustness and resilience under extreme conditions, making them suitable for use in industries such as automotive, aerospace, and electronics, where elevated temperatures are common. Moreover, the reliability and predictable performance of inorganic phase change materials makes them appealing for critical applications where precise temperature control is essential for operational efficiency and product integrity. Additionally, the expanding adoption of inorganic phase change materials in emerging sectors like renewable energy storage and waste heat recovery further bolstered their market share in 2023.

“Based on application, cold chain & packaging was the second largest application for phase change materials  in 2023, in terms of value.”

The cold chain & packaging segment being the second largest application in the phase change materials market in 2023 is the increasing globalization of supply chains. As companies expand their operations globally, there is a growing need for efficient temperature-controlled logistics to ensure product quality and safety across long distances and diverse climates. PCM-based packaging materials offer a reliable solution to maintain stable temperatures during transit, reducing the risk of spoilage or damage to temperature-sensitive goods. Moreover, advancements in phase change materials technology have led to the development of tailored solutions that address specific requirements of different industries within the cold chain, further driving adoption and contributing to the segment's substantial market share in 2023.

“Europe is estimated to be the largest region in phase change materials market 2023, in terms of value.”

Europe's leadership in phase change materials market in 2023 can be attributed to its proactive approach towards mitigating climate change. The region's ambitious carbon reduction goals and stringent regulations aimed at promoting energy efficiency have accelerated the adoption of phase change materials solutions. Furthermore, strong government support through incentives and funding for research and development in sustainable technologies has fostered innovation and commercialization of phase change products. Additionally, Europe's well-established manufacturing infrastructure and extensive network of suppliers have facilitated the production and distribution of PCM-based solutions, further strengthening its position as the largest market for phase change materials in 2023. The region houses major phase change materials producing companies, such as Croda International Plc (UK), Climator Sweden AB (Sweden), and Rubitherm Technologies GmbH (Germany).

Phase Change Materials Market by Region

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Key Market Players

The key players profiled in the report Honeywell International Inc. (US), DuPont de Nemours, Inc. (US), Croda International Plc (UK), Boyd Corporation (US), Sasol Limited (South Africa) among others, are the key manufacturers that holds major market share in the last few years. A major focus was given to collaborations, partnerships, and new product development due to the changing requirements of users across the world.

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Scope of the Report

Report Metric

Details

Years considered for the study

2017–2029

Base year considered

2023

Forecast period

2024–2029

Units considered

Value (USD Thousand) and Volume (Ton)

Segments Covered

Type, Application, and Region

Regions covered

Asia Pacific, North America, Europe, and Rest of the World

Companies profiled

Honeywell International Inc. (US), DuPont de Nemours, Inc. (US), Croda International Plc (UK), Boyd Corporation (US), Sasol Limited (South Africa), Outlast Technologies LLC (US), Climator Sweden AB (Sweden), Rubitherm Technologies GmbH (Germany), PureTemp LLC (US), and Phase Change Solutions (US)

This report categorizes the global phase change materials market based on type, application, and region.

Based on type, the phase change materials market has been segmented as follows:
  • Organic
  • Inorganic
  • Eutectic
Based on application, the phase change materials market has been segmented as follows:
  • Building & Construction
  • HVAC
  • Cold Chain & Packaging
  • Thermal Energy Storage
  • Refrigeration & Equipment
  • Textiles
  • Electronics
  • Others
Based on region, the phase change materials market has been segmented as follows:
  • Asia Pacific
  • North America
  • Europe
  • Rest of the World

Recent Developments

  • In 2021, DuPont De Nemours, Inc. signed an agreement to acquire the performance materials segment of Laird Plc. This acquisition will strengthen the company’s market position and expand its global reach in the phase change material market.
  • In 2021, Cold Chain Technologies announced their expansion in Europe and the Middle East & African regions with the opening of their new regional headquarters based in the Netherlands.
  • In 2020, DuPont De Nemours, Inc. (US) and Cold Chain Technologies, Inc. partnered for global production, sales, distribution, and technical service of Tyvek Cargo Covers for life sciences. The partnership is expected to help the company cover the untapped market potential and new product opportunities that this partnership is expected to create. In addition, the partnership is expected to open the doors for the company to gain access to the best materials and technologies in the marketplace; and is expected to help the company to better serve its customers.

Frequently Asked Questions (FAQ):

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TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 25)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 PHASE CHANGE MATERIALS: INCLUSIONS & EXCLUSIONS
           1.2.2 PHASE CHANGE MATERIALS: MARKET DEFINITION AND INCLUSIONS, BY TYPE
           1.2.3 PHASE CHANGE MATERIALS: MARKET DEFINITION AND INCLUSIONS, BY APPLICATION
    1.3 MARKET SCOPE 
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED
    1.4 CURRENCY CONSIDERED 
    1.5 UNIT CONSIDERED 
    1.6 STAKEHOLDERS 
    1.7 SUMMARY OF CHANGES 
           1.7.1 IMPACT OF RECESSION
 
2 RESEARCH METHODOLOGY (Page No. - 31)
    2.1 RESEARCH DATA 
          FIGURE 1 PHASE CHANGE MATERIALS MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
           2.1.2 PRIMARY DATA
                    2.1.2.1 Interviews with experts: demand side and supply side
                    2.1.2.2 Key industry insights
                    2.1.2.3 Breakdown of interviews with experts
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 2 MARKET SIZE ESTIMATION - APPROACH 1 (SUPPLY-SIDE): COMBINED MARKET SHARE OF KEY PLAYERS
                    FIGURE 3 MARKET SIZE ESTIMATION - BOTTOM-UP (SUPPLY-SIDE): REVENUE FROM SALE OF PHASE CHANGE MATERIALS
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 – BOTTOM-UP (DEMAND-SIDE): PRODUCTS SOLD AND THEIR AVERAGE SELLING PRICE
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 3 – TOP-DOWN APPROACH
    2.3 DATA TRIANGULATION 
          FIGURE 6 PHASE CHANGE MATERIALS MARKET: DATA TRIANGULATION
    2.4 GROWTH RATE ASSUMPTIONS 
           2.4.1 SUPPLY SIDE
                    FIGURE 7 MARKET CAGR PROJECTIONS FROM SUPPLY SIDE
           2.4.2 DEMAND SIDE
                    FIGURE 8 MARKET GROWTH PROJECTIONS FROM DEMAND SIDE: DRIVERS AND OPPORTUNITIES
    2.5 FACTOR ANALYSIS 
          FIGURE 9 FACTORS IMPACTING GROWTH OF PHASE CHANGE MATERIALS MARKET
    2.6 IMPACT OF RECESSION 
    2.7 ASSUMPTIONS 
    2.8 LIMITATIONS 
    2.9 RISK ASSESSMENT 
          TABLE 1 PHASE CHANGE MATERIALS MARKET: RISK ASSESSMENT
 
3 EXECUTIVE SUMMARY (Page No. - 42)
    FIGURE 10 COLD CHAIN & PACKAGING TO BE LARGEST APPLICATION OF PHASE CHANGE MATERIALS MARKET DURING FORECAST PERIOD
    FIGURE 11 ORGANIC PHASE CHANGE MATERIALS TO DOMINATE PHASE CHANGE MATERIALS MARKET BETWEEN 2024 AND 2029
    FIGURE 12 NORTH AMERICA ACCOUNTED FOR LARGEST SHARE IN 2023
 
4 PREMIUM INSIGHTS (Page No. - 45)
    4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN PHASE CHANGE MATERIALS MARKET 
          FIGURE 13 GROWING DEMAND FROM COLD CHAIN & PACKAGING APPLICATION TO DRIVE PHASE CHANGE MATERIALS MARKET
    4.2 PHASE CHANGE MATERIALS MARKET, BY APPLICATION 
          FIGURE 14 COLD CHAIN & PACKAGING TO BE LARGEST APPLICATION DURING FORECAST PERIOD
    4.3 EUROPE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION AND COUNTRY 
          FIGURE 15 GERMANY ACCOUNTED FOR LARGEST SHARE OF PHASE CHANGE MATERIALS MARKET IN 2023
    4.4 PHASE CHANGE MATERIALS MARKET, BY APPLICATION VS. REGION 
          FIGURE 16 COLD CHAIN & PACKAGING TO BE DOMINANT APPLICATION GLOBALLY
    4.5 PHASE CHANGE MATERIALS MARKET, BY REGION 
          FIGURE 17 EUROPE TO BE LARGEST MARKET FOR PHASE CHANGE MATERIALS DURING FORECAST PERIOD
    4.6 PHASE CHANGE MATERIALS MARKET, BY KEY COUNTRY 
          FIGURE 18 US TO REGISTER HIGHEST CAGR IN PHASE CHANGE MATERIALS MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 49)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
          FIGURE 19 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN PHASE CHANGE MATERIALS MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Regulations for reduction of greenhouse gas emissions
                                TABLE 2 REGION-WISE ENVIRONMENTAL NORMS: REGULATIONS DRIVING GROWTH OF PHASE CHANGE MATERIALS MARKET
                    5.2.1.2 Use of phase change materials for temperature control and greater comfort
                                FIGURE 20 COMPARISON BETWEEN TEMPERATURES WITH AND WITHOUT USE OF PHASE CHANGE MATERIALS
                    5.2.1.3 Use of phase change materials for peak-load shifting
                    5.2.1.4 Reduction in operating cost for cold chain and packaging industry
           5.2.2 RESTRAINTS
                    5.2.2.1 Lack of awareness of benefits of phase change materials
                    5.2.2.2 Flammability and corrosiveness restrict usage of phase change materials
                    5.2.2.3 Lack of government subsidies
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rise in need for cold chain logistics
                    5.2.3.2 R&D initiatives for enhanced phase change material efficiency
                                TABLE 3 GLOBAL R&D INITIATIVES TO INCREASE EFFICIENCY OF PHASE CHANGE MATERIALS
                    5.2.3.3 Rising demand for consumer electronics
           5.2.4 CHALLENGES
                    5.2.4.1 High cost of switching from conventional materials
    5.3 PORTER’S FIVE FORCES ANALYSIS 
          FIGURE 21 PHASE CHANGE MATERIALS: PORTER’S FIVE FORCES ANALYSIS
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 4 PHASE CHANGE MATERIALS: PORTER’S FIVE FORCES ANALYSIS
    5.4 MACROECONOMIC INDICATORS 
           5.4.1 GDP TRENDS AND FORECAST OF MOST PROMINENT ECONOMIES
                    TABLE 5 GDP TRENDS AND FORECAST, BY MOST PROMINENT ECONOMIES, 2021–2029 (USD BILLION)
 
6 INDUSTRY TRENDS (Page No. - 58)
    6.1 SUPPLY CHAIN ANALYSIS 
          FIGURE 22 PHASE CHANGE MATERIALS: SUPPLY CHAIN ANALYSIS
           6.1.1 RAW MATERIALS
           6.1.2 MANUFACTURING
           6.1.3 DISTRIBUTION NETWORK
           6.1.4 APPLICATIONS
    6.2 KEY STAKEHOLDERS AND BUYING CRITERIA 
           6.2.1 KEY STAKEHOLDERS IN BUYING PROCESS
                    FIGURE 23 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS IN TOP 3 APPLICATIONS
                    TABLE 6 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS IN TOP 3 APPLICATIONS (%)
           6.2.2 BUYING CRITERIA
                    FIGURE 24 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
                    TABLE 7 KEY BUYING CRITERIA FOR TOP 3 APPLICATIONS
    6.3 PRICING ANALYSIS 
           6.3.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY APPLICATION
                    FIGURE 25 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY APPLICATION, 2023
                    TABLE 8 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY APPLICATION (USD/KG), 2023
           6.3.2 AVERAGE SELLING PRICE TREND, BY REGION
                    FIGURE 26 AVERAGE SELLING PRICE TREND, BY REGION (USD/KG)
                    TABLE 9 AVERAGE SELLING PRICE TREND OF PHASE CHANGE MATERIALS, BY REGION (USD/KG)
    6.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 
           6.4.1 REVENUE SHIFTS AND NEW REVENUE POCKETS FOR PHASE CHANGE MATERIALS
                    FIGURE 27 REVENUE SHIFT FOR PHASE CHANGE MATERIALS MARKET
    6.5 ECOSYSTEM/MARKET MAP 
          FIGURE 28 PHASE CHANGE MATERIALS MARKET: ECOSYSTEM
          TABLE 10 PHASE CHANGE MATERIALS MARKET: ECOSYSTEM
    6.6 TECHNOLOGY ANALYSIS 
           6.6.1 KEY TECHNOLOGIES
                    6.6.1.1 Nano-enhanced phase change materials technology
           6.6.2 COMPLIMENTARY TECHNOLOGIES
                    6.6.2.1 Active cooling-based battery thermal management using composite phase change materials
                    6.6.2.2 Nanoscale switching technology
    6.7 CASE STUDY ANALYSIS 
           6.7.1 HEATVENTORS SERVER COOLING USING CRODATHERM
           6.7.2 COLD CHAIN LOGISTICS
           6.7.3 ENHANCING SMARTPHONE PERFORMANCE: LAIRD PLC'S PHASE CHANGE MATERIAL-BASED THERMAL MANAGEMENT SOLUTION
    6.8 TRADE ANALYSIS 
           6.8.1 IMPORT SCENARIO
                    FIGURE 29 IMPORT OF PHASE CHANGE MATERIALS, BY KEY COUNTRY
                    TABLE 11 IMPORT OF PHASE CHANGE MATERIALS, BY REGION, 2017–2022 (USD MILLION)
           6.8.2 EXPORT SCENARIO
                    FIGURE 30 EXPORT OF PHASE CHANGE MATERIALS, BY KEY COUNTRY
                    TABLE 12 EXPORT OF PHASE CHANGE MATERIALS, BY REGION, 2017–2022 (USD MILLION)
    6.9 REGULATORY LANDSCAPE 
          TABLE 13 NORTH AMERICA: REGULATIONS RELATED TO PHASE CHANGE MATERIALS
          TABLE 14 EUROPE: REGULATIONS RELATED TO PHASE CHANGE MATERIALS
          TABLE 15 ASIA PACIFIC: REGULATIONS RELATED TO PHASE CHANGE MATERIALS
          TABLE 16 SOUTH AMERICA: REGULATIONS RELATED TO PHASE CHANGE MATERIALS
          TABLE 17 MIDDLE EAST & AFRICA: REGULATIONS RELATED TO PHASE CHANGE MATERIALS
           6.9.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
                    TABLE 18 PHASE CHANGE MATERIALS: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
    6.10 KEY CONFERENCES AND EVENTS IN 2024–2025 
          TABLE 19 PHASE CHANGE MATERIALS: KEY CONFERENCES AND EVENTS, 2024–2025
    6.11 INVESTMENT AND FUNDING SCENARIO 
          TABLE 20 PHASE CHANGE MATERIALS: FUNDING/INVESTMENT
    6.12 PATENT ANALYSIS 
           6.12.1 APPROACH
           6.12.2 PATENT TYPES
                     TABLE 21 PHASE CHANGE MATERIALS MARKET: PATENT STATUS
                     FIGURE 31 PATENTS REGISTERED FOR PHASE CHANGE MATERIALS, 2013–2023
                     FIGURE 32 TOP PATENT OWNERS IN LAST 10 YEARS
                     TABLE 22 MAJOR PATENTS FOR PHASE CHANGE MATERIALS
           6.12.3 TOP APPLICANTS
                     TABLE 23 PATENTS BY IBM
                     TABLE 24 PATENTS BY MICRON TECHNOLOGY INC.
                     TABLE 25 PATENTS BY HONEYWELL INTERNATIONAL INC.
                     TABLE 26 TOP 10 PATENT OWNERS IN US, 2013–2023
                     FIGURE 33 LEGAL STATUS OF PATENTS FILED FOR PHASE CHANGE MATERIALS
           6.12.4 JURISDICTION ANALYSIS
                     FIGURE 34 MAXIMUM PATENTS FILED IN JURISDICTION OF US
 
7 PHASE CHANGE MATERIALS MARKET, BY TYPE (Page No. - 83)
    7.1 INTRODUCTION 
          FIGURE 35 ORGANIC PHASE CHANGE MATERIALS TO DOMINATE MARKET DURING FORECAST PERIOD
          TABLE 27 COMPARATIVE ANALYSIS OF DIFFERENT TYPES OF PHASE CHANGE MATERIALS
          TABLE 28 PHASE CHANGE MATERIAL TYPE, BY APPLICATION
          TABLE 29 PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
          TABLE 30 PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
          TABLE 31 PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
          TABLE 32 PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
    7.2 ORGANIC 
           7.2.1 PARAFFIN AND BIO-BASED PHASE CHANGE MATERIALS TO DRIVE DEMAND
                    TABLE 33 LIST OF NON-PARAFFIN-BASED ORGANIC PHASE CHANGE MATERIALS WITH THEIR PROPERTIES
                    TABLE 34 LIST OF PARAFFIN-BASED ORGANIC PHASE CHANGE MATERIALS WITH THEIR PROPERTIES
           7.2.2 PARAFFIN
           7.2.3 BIO-BASED
                    TABLE 35 ORGANIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 36 ORGANIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 37 ORGANIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 38 ORGANIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    7.3 INORGANIC 
           7.3.1 NON-FLAMMABLE PROPERTIES TO DRIVE DEMAND
                    TABLE 39 LIST OF INORGANIC PHASE CHANGE MATERIALS WITH THEIR PROPERTIES
                    TABLE 40 INORGANIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 41 INORGANIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 42 INORGANIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 43 INORGANIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    7.4 EUTECTIC 
           7.4.1 NEED OF THERMAL ENERGY STORAGE TO DRIVE DEMAND DURING FORECAST PERIOD
                    TABLE 44 EUTECTIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 45 EUTECTIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 46 EUTECTIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 47 EUTECTIC PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
 
8 PHASE CHANGE MATERIALS MARKET, BY APPLICATION (Page No. - 96)
    8.1 INTRODUCTION 
          FIGURE 36 COLD CHAIN & PACKAGING TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
          TABLE 48 PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
          TABLE 49 PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
          TABLE 50 PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
          TABLE 51 PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
    8.2 BUILDING & CONSTRUCTION 
           8.2.1 NEED FOR TEMPERATURE STABILITY IN BUILDING & CONSTRUCTION TO DRIVE DEMAND
                    TABLE 52 BUILDING & CONSTRUCTION: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 53 BUILDING & CONSTRUCTION: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 54 BUILDING & CONSTRUCTION: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 55 BUILDING & CONSTRUCTION: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    8.3 HVAC 
           8.3.1 FLUCTUATIONS IN CLIMATIC CONDITIONS TO DRIVE DEMAND
                    FIGURE 37 FUNCTION OF PHASE CHANGE MATERIAL IN REDUCING PEAK LOAD
                    TABLE 56 HVAC: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 57 HVAC: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 58 HVAC: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 59 HVAC: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    8.4 COLD CHAIN & PACKAGING 
           8.4.1 TEMPERATURE-SENSITIVE GOODS TO DRIVE DEMAND
                    TABLE 60 COLD CHAIN & PACKAGING: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 61 COLD CHAIN & PACKAGING: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 62 COLD CHAIN & PACKAGING: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 63 COLD CHAIN & PACKAGING: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    8.5 THERMAL ENERGY STORAGE 
           8.5.1 EXTENSIVE USE FOR STORING RENEWABLE ENERGY TO DRIVE MARKET
           8.5.2 BOILER/POWER PLANT
           8.5.3 SOLAR ENERGY STORAGE
                    TABLE 64 COMMERCIALLY AVAILABLE PHASE CHANGE MATERIALS FOR SOLAR ENERGY STORAGE
           8.5.4 GEOTHERMAL ENERGY STORAGE
                    TABLE 65 THERMAL ENERGY STORAGE: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 66 THERMAL ENERGY STORAGE: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 67 THERMAL ENERGY STORAGE: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 68 THERMAL ENERGY STORAGE: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    8.6 REFRIGERATION & EQUIPMENT 
           8.6.1 INCREASING USE OF CHILLERS, PASSIVE SHIPPERS, AND ACTIVE COMPRESSOR UNITS TO DRIVE THE DEMAND
           8.6.2 FIXED REFRIGERATION
                    TABLE 69 REFRIGERATION & EQUIPMENT: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 70 REFRIGERATION & EQUIPMENT: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 71 REFRIGERATION & EQUIPMENT: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 72 REFRIGERATION & EQUIPMENT: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    8.7 TEXTILES 
           8.7.1 GROWING APPLICATION IN TEXTILES DUE TO THERMO-PHYSICAL COMFORT TO DRIVE MARKET
           8.7.2 INCORPORATION OF PHASE CHANGE MATERIALS IN TEXTILES
                    TABLE 73 TEXTILES: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 74 TEXTILES: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 75 TEXTILES: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 76 TEXTILES: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    8.8 ELECTRONICS 
           8.8.1 USE IN THERMAL MANAGEMENT IN ELECTRONIC ITEMS TO DRIVE DEMAND
           8.8.2 PHASE CHANGE MEMORY (PCRAM)
                    TABLE 77 COMPARATIVE ANALYSIS: DIFFERENT MEMORY TYPES
           8.8.3 THERMAL INTERFACE MATERIAL (TIM)
                    TABLE 78 ELECTRONICS: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 79 ELECTRONICS: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 80 ELECTRONICS: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 81 ELECTRONICS: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    8.9 OTHERS 
           8.9.1 AUTOMOTIVE
           8.9.2 HEALTHCARE
           8.9.3 TELECOMMUNICATION
                    TABLE 82 OTHER APPLICATIONS: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
                    TABLE 83 OTHER APPLICATIONS: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
                    TABLE 84 OTHER APPLICATION: PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
                    TABLE 85 OTHER APPLICATION: PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
 
9 PHASE CHANGE MATERIALS MARKET, BY REGION (Page No. - 117)
    9.1 INTRODUCTION 
          FIGURE 38 NORTH AMERICA TO BE FASTEST-GROWING PHASE CHANGE MATERIALS MARKET DURING FORECAST PERIOD
          TABLE 86 PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (TON)
          TABLE 87 PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (TON)
          TABLE 88 PHASE CHANGE MATERIALS MARKET, BY REGION, 2017–2022 (USD THOUSAND)
          TABLE 89 PHASE CHANGE MATERIALS MARKET, BY REGION, 2023–2029 (USD THOUSAND)
    9.2 ASIA PACIFIC 
          FIGURE 39 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET SNAPSHOT
           9.2.1 RECESSION IMPACT
           9.2.2 ASIA PACIFIC PHASE CHANGE MATERIALS MARKET, BY TYPE
                    TABLE 90 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                    TABLE 91 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                    TABLE 92 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                    TABLE 93 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
           9.2.3 ASIA PACIFIC PHASE CHANGE MATERIALS MARKET, BY APPLICATION
                    TABLE 94 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                    TABLE 95 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                    TABLE 96 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                    TABLE 97 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
           9.2.4 ASIA PACIFIC PHASE CHANGE MATERIALS MARKET, BY COUNTRY
                    TABLE 98 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2017–2022 (TON)
                    TABLE 99 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2023–2029 (TON)
                    TABLE 100 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2017–2022 (USD THOUSAND)
                    TABLE 101 ASIA PACIFIC: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2023–2029 (USD THOUSAND)
                    9.2.4.1 China
                               9.2.4.1.1 Emerging local manufacturers and distributors catering to growing international demand to drive market
                                              TABLE 102 CHINA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                                              TABLE 103 CHINA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                                              TABLE 104 CHINA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                                              TABLE 105 CHINA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
                                              TABLE 106 CHINA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                                              TABLE 107 CHINA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                                              TABLE 108 CHINA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                                              TABLE 109 CHINA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
                    9.2.4.2 India
                               9.2.4.2.1 Rising demand for renewable energy to drive market
                                              TABLE 110 INDIA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                                              TABLE 111 INDIA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                                              TABLE 112 INDIA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                                              TABLE 113 INDIA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
                                              TABLE 114 INDIA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                                              TABLE 115 INDIA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                                              TABLE 116 INDIA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                                              TABLE 117 INDIA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
                    9.2.4.3 Australia
                               9.2.4.3.1 Increase in renewable energy consumption and stringent building codes to drive demand for phase change materials
                                              TABLE 118 AUSTRALIA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                                              TABLE 119 AUSTRALIA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                                              TABLE 120 AUSTRALIA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                                              TABLE 121 AUSTRALIA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
                                              TABLE 122 AUSTRALIA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                                              TABLE 123 AUSTRALIA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                                              TABLE 124 AUSTRALIA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                                              TABLE 125 AUSTRALIA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
                    9.2.4.4 Singapore
                               9.2.4.4.1 Developed healthcare sector to drive demand for phase change materials
                                              TABLE 126 SINGAPORE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                                              TABLE 127 SINGAPORE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                                              TABLE 128 SINGAPORE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                                              TABLE 129 SINGAPORE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
                                              TABLE 130 SINGAPORE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                                              TABLE 131 SINGAPORE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                                              TABLE 132 SINGAPORE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                                              TABLE 133 SINGAPORE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
    9.3 EUROPE 
          FIGURE 40 EUROPE: PHASE CHANGE MATERIALS MARKET SNAPSHOT
           9.3.1 RECESSION IMPACT
           9.3.2 EUROPE PHASE CHANGE MATERIALS MARKET, BY TYPE
                    TABLE 134 EUROPE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                    TABLE 135 EUROPE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                    TABLE 136 EUROPE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                    TABLE 137 EUROPE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
           9.3.3 EUROPE PHASE CHANGE MATERIALS MARKET, BY APPLICATION
                    TABLE 138 EUROPE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                    TABLE 139 EUROPE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                    TABLE 140 EUROPE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                    TABLE 141 EUROPE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
           9.3.4 EUROPE PHASE CHANGE MATERIALS MARKET, BY COUNTRY
                    TABLE 142 EUROPE: PHASE CHANGE MATERIALS MARKET, BY COUNTRY 2017–2022 (TON)
                    TABLE 143 EUROPE: PHASE CHANGE MATERIALS MARKET, BY COUNTRY 2023–2029 (TON)
                    TABLE 144 EUROPE: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2017–2022 (USD THOUSAND)
                    TABLE 145 EUROPE: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2023–2029 (USD THOUSAND)
                    9.3.4.1 Germany
                               9.3.4.1.1 Energy Conservation Ordinance to drive demand
                                              TABLE 146 GERMANY: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                                              TABLE 147 GERMANY: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                                              TABLE 148 GERMANY: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                                              TABLE 149 GERMANY: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
                                              TABLE 150 GERMANY: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                                              TABLE 151 GERMANY: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                                              TABLE 152 GERMANY: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                                              TABLE 153 GERMANY: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
                    9.3.4.2 UK
                               9.3.4.2.1 Cold temperature to drive phase change materials market
                                              TABLE 154 UK: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                                              TABLE 155 UK: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                                              TABLE 156 UK: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                                              TABLE 157 UK: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
                                              TABLE 158 UK: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                                              TABLE 159 UK: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                                              TABLE 160 UK: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                                              TABLE 161 UK: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
                    9.3.4.3 France
                               9.3.4.3.1 Mandatory Energy Efficiency Certificates to drive market
                                              TABLE 162 FRANCE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                                              TABLE 163 FRANCE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                                              TABLE 164 FRANCE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                                              TABLE 165 FRANCE: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
                                              TABLE 166 FRANCE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                                              TABLE 167 FRANCE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                                              TABLE 168 FRANCE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                                              TABLE 169 FRANCE: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
                    9.3.4.4 Netherlands
                               9.3.4.4.1 Stringent building codes to drive demand
                                              TABLE 170 NETHERLANDS: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                                              TABLE 171 NETHERLANDS: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                                              TABLE 172 NETHERLANDS: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                                              TABLE 173 NETHERLANDS: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
                                              TABLE 174 NETHERLANDS: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                                              TABLE 175 NETHERLANDS: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                                              TABLE 176 NETHERLANDS: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                                              TABLE 177 NETHERLANDS: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
    9.4 NORTH AMERICA 
           FIGURE 41 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET SNAPSHOT
           9.4.1 RECESSION IMPACT
           9.4.2 NORTH AMERICA PHASE CHANGE MATERIALS MARKET, BY TYPE
                    TABLE 178 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                    TABLE 179 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                    TABLE 180 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                    TABLE 181 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
           9.4.3 NORTH AMERICA PHASE CHANGE MATERIALS MARKET, BY APPLICATION
                    TABLE 182 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                    TABLE 183 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                    TABLE 184 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                    TABLE 185 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
           9.4.4 NORTH AMERICA PHASE CHANGE MATERIALS MARKET, BY COUNTRY
                    TABLE 186 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2017–2022 (TON)
                    TABLE 187 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2023–2029 (TON)
                    TABLE 188 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2017–2022 (USD THOUSAND)
                    TABLE 189 NORTH AMERICA: PHASE CHANGE MATERIALS MARKET, BY COUNTRY, 2023–2029 (USD THOUSAND)
                    9.4.4.1 US
                               9.4.4.1.1 Presence of major manufacturers and rising awareness of benefits of phase change materials to drive demand
                                              TABLE 190 US: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                                              TABLE 191 US: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                                              TABLE 192 US: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                                              TABLE 193 US: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
                                              TABLE 194 US: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                                              TABLE 195 US: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                                              TABLE 196 US: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                                              TABLE 197 US: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
    9.5 REST OF THE WORLD 
           9.5.1 IMPACT OF RECESSION
           9.5.2 REST OF THE WORLD PHASE CHANGE MATERIALS MARKET, BY TYPE
                    TABLE 198 REST OF THE WORLD: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (TON)
                    TABLE 199 REST OF THE WORLD: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (TON)
                    TABLE 200 REST OF THE WORLD: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2017–2022 (USD THOUSAND)
                    TABLE 201 REST OF THE WORLD: PHASE CHANGE MATERIALS MARKET, BY TYPE, 2023–2029 (USD THOUSAND)
           9.5.3 REST OF THE WORLD PHASE CHANGE MATERIALS MARKET, BY APPLICATION
                    TABLE 202 REST OF THE WORLD: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (TON)
                    TABLE 203 REST OF THE WORLD: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (TON)
                    TABLE 204 REST OF THE WORLD: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2017–2022 (USD THOUSAND)
                    TABLE 205 REST OF THE WORLD: PHASE CHANGE MATERIALS MARKET, BY APPLICATION, 2023–2029 (USD THOUSAND)
 
10 COMPETITIVE LANDSCAPE (Page No. - 173)
     10.1 INTRODUCTION 
     10.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 
             TABLE 206 OVERVIEW OF STRATEGIES ADOPTED BY KEY MANUFACTURERS OF PHASE CHANGE MATERIALS
     10.3 MARKET SHARE ANALYSIS 
             TABLE 207 PHASE CHANGE MATERIALS MARKET: DEGREE OF COMPETITION
             FIGURE 42 HONEYWELL INTERNATIONAL INC. LED PHASE CHANGE MATERIALS MARKET IN 2023
             10.3.1 RANKING OF KEY MARKET PLAYERS, 2023
                        FIGURE 43 RANKING OF KEY MARKET PLAYERS OF PHASE CHANGE MATERIALS, 2023
     10.4 REVENUE ANALYSIS OF MAJOR PLAYERS (2019–2023) 
             FIGURE 44 REVENUE ANALYSIS OF KEY COMPANIES IN LAST 5 YEARS
     10.5 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023 
             10.5.1 STARS
             10.5.2 EMERGING LEADERS
             10.5.3 PERVASIVE PLAYERS
             10.5.4 PARTICIPANTS
                        FIGURE 45 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
             10.5.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
                        10.5.5.1 Company footprint
                                      FIGURE 46 PHASE CHANGE MATERIALS MARKET: COMPANY FOOTPRINT
                        10.5.5.2 Region footprint
                                      TABLE 208 PHASE CHANGE MATERIALS MARKET: REGION FOOTPRINT
                        10.5.5.3 Type footprint
                                      TABLE 209 PHASE CHANGE MATERIALS MARKET: TYPE FOOTPRINT
                        10.5.5.4 Application footprint
                                      TABLE 210 PHASE CHANGE MATERIALS MARKET: APPLICATION FOOTPRINT
     10.6 COMPANY EVALUATION MATRIX: START-UP/SMES, 2023 
             10.6.1 PROGRESSIVE COMPANIES
             10.6.2 RESPONSIVE COMPANIES
             10.6.3 DYNAMIC COMPANIES
             10.6.4 STARTING BLOCKS
                        FIGURE 47 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
             10.6.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
                        10.6.5.1 Phase change materials market: key start-ups/SMEs
                                      TABLE 211 PHASE CHANGE MATERIALS MARKET: KEY START-UPS/SMES
                        10.6.5.2 Phase change materials market: competitive benchmarking of key start-ups/SMEs
                                      TABLE 212 PHASE CHANGE MATERIALS MARKET: COMPETITIVE BENCHMARKING OF KEY START-UPS/SMES
     10.7 COMPANY VALUATION AND FINANCIAL METRICS 
             FIGURE 48 COMPANY VALUATION OF KEY PLAYERS
             FIGURE 49 EV/EBITDA OF KEY PLAYERS
     10.8 BRAND/PRODUCT COMPARISON ANALYSIS 
     10.9 COMPETITIVE SITUATIONS AND TRENDS 
             10.9.1 DEALS
                        TABLE 213 PHASE CHANGE MATERIALS MARKET: DEALS, JANUARY 2018–DECEMBER 2023
             10.9.2 EXPANSIONS
                        TABLE 214 PHASE CHANGE MATERIALS MARKET: EXPANSIONS, JANUARY 2018– DECEMBER 2023
 
11 COMPANY PROFILES (Page No. - 191)
(Business overview, Products/Solutions/Services offered, Recent developments & MnM View)*
     11.1 KEY PLAYERS 
             11.1.1 HONEYWELL INTERNATIONAL INC.
                        TABLE 215 HONEYWELL INTERNATIONAL INC.: COMPANY OVERVIEW
                        FIGURE 50 HONEYWELL INTERNATIONAL INC.: COMPANY SNAPSHOT
                        TABLE 216 HONEYWELL INTERNATIONAL INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERINGS
             11.1.2 DUPONT DE NEMOURS, INC.
                        TABLE 217 DUPONT DE NEMOURS, INC.: COMPANY OVERVIEW
                        FIGURE 51 DUPONT DE NEMOURS, INC.: COMPANY SNAPSHOT
                        TABLE 218 DUPONT DE NEMOURS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERING
                        TABLE 219 DUPONT DE NEMOURS, INC.: DEALS
             11.1.3 CRODA INTERNATIONAL PLC.
                        TABLE 220 CRODA INTERNATIONAL PLC.: COMPANY OVERVIEW
                        FIGURE 52 CRODA INTERNATIONAL PLC.: COMPANY SNAPSHOT
                        TABLE 221 CRODA INTERNATIONAL PLC.: PRODUCTS/SOLUTIONS/SERVICES OFFERING
             11.1.4 BOYD CORPORATION
                        TABLE 222 BOYD CORPORATION: COMPANY OVERVIEW
                        TABLE 223 BOYD CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERING
             11.1.5 SASOL LIMITED
                        TABLE 224 SASOL LIMITED: COMPANY OVERVIEW
                        FIGURE 53 SASOL LIMITED: COMPANY SNAPSHOT
                        TABLE 225 SASOL LIMITED: PRODUCTS/SOLUTIONS/SERVICES OFFERING
             11.1.6 PURETEMP LLC
                        TABLE 226 PURETEMP LLC: COMPANY OVERVIEW
                        TABLE 227 PURETEMP LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERING
             11.1.7 CLIMATOR SWEDEN AB
                        TABLE 228 CLIMATOR SWEDEN AB: COMPANY OVERVIEW
                        TABLE 229 CLIMATOR SWEDEN AB: PRODUCTS/SOLUTIONS/SERVICES OFFERING
             11.1.8 RUBITHERM TECHNOLOGIES GMBH
                        TABLE 230 RUBITHERM TECHNOLOGIES GMBH: COMPANY OVERVIEW
                        TABLE 231 RUBITHERM TECHNOLOGIES GMBH: PRODUCTS/SOLUTIONS/SERVICES OFFERING
             11.1.9 MICROTEK LABORATORIES INC.
                        TABLE 232 MICROTEK LABORATORIES INC.: COMPANY OVERVIEW
                        TABLE 233 MICROTEK LABORATORIES INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERING
             11.1.10 PHASE CHANGE SOLUTIONS
                        TABLE 234 PHASE CHANGE SOLUTIONS: COMPANY OVERVIEW
                        TABLE 235 PHASE CHANGE SOLUTIONS: PRODUCTS/SOLUTIONS/SERVICES OFFERING
             11.1.11 COLD CHAIN TECHNOLOGIES
                        TABLE 236 COLD CHAIN TECHNOLOGIES: COMPANY OVERVIEW
                        TABLE 237 COLD CHAIN TECHNOLOGIES: PRODUCTS/SOLUTIONS/SERVICES OFFERING
                        TABLE 238 COLD CHAIN TECHNOLOGIES: DEALS
                        TABLE 239 COLD CHAIN TECHNOLOGIES: EXPANSIONS
             11.1.12 OUTLAST TECHNOLOGIES LLC
                        TABLE 240 OUTLAST TECHNOLOGIES LLC: COMPANY OVERVIEW
                        TABLE 241 OUTLAST TECHNOLOGIES LLC: PRODUCTS/SOLUTIONS/SERVICES OFFERING
                        TABLE 242 OUTLAST TECHNOLOGIES LLC: PRODUCT LAUNCHES
             11.1.13 PHASE CHANGE MATERIALS PRODUCTS LTD.
                        TABLE 243 PHASE CHANGE MATERIALS PRODUCTS LTD.: COMPANY OVERVIEW
                        TABLE 244 PHASE CHANGE MATERIALS PRODUCTS LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERING
*Details on Business overview, Products/Solutions/Services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
     11.2 START-UP/SMES PLAYERS 
             11.2.1 AI TECHNOLOGY INC.
                        TABLE 245 AI TECHNOLOGY INC.: BUSINESS OVERVIEW
             11.2.2 BEYOND INDUSTRIES (CHINA) LIMITED
                        TABLE 246 BEYOND INDUSTRIES (CHINA) LIMITED: BUSINESS OVERVIEW
             11.2.3 CIAT GROUP (CRISTOPIA ENERGY SYSTEMS)
                        TABLE 247 CIAT GROUP (CRISTOPIA ENERGY SYSTEMS): BUSINESS OVERVIEW
             11.2.4 CRYOPAK INDUSTRIES INC.
                        TABLE 248 CRYOPAK INDUSTRIES INC.: BUSINESS OVERVIEW
             11.2.5 DATUM PHASE CHANGE LIMITED
                        TABLE 249 DATUM PHASE CHANGE LIMITED: BUSINESS OVERVIEW
             11.2.6 GLOBAL-E-SYSTEMS EUROPE BV
                        TABLE 250 GLOBAL-E-SYSTEMS EUROPE BV: BUSINESS OVERVIEW
             11.2.7 INSOLCORP LLC
                        TABLE 251 INSOLCORP LLC: BUSINESS OVERVIEW
             11.2.8 IOLITEC-IONIC LIQUIDS TECHNOLOGIES GMBH
                        TABLE 252 IOLITEC-IONIC LIQUIDS TECHNOLOGIES GMBH: BUSINESS OVERVIEW
             11.2.9 KAPLAN ENERGY SAS
                        TABLE 253 KAPLAN ENERGY SAS: BUSINESS OVERVIEW
             11.2.10 PARKER HANNIFIN CORP.
                        TABLE 254 PARKER HANNIFIN CORP.: BUSINESS OVERVIEW
             11.2.11 MIKROCAPS
                        TABLE 255 MIKROCAPS: BUSINESS OVERVIEW
             11.2.12 SHENZEN AOCHUAN TECHNOLOGY CO., LTD.
                        TABLE 256 SHENZEN AOUCHUAN TECHNOLOGY CO. LTD.: BUSINESS OVERVIEW
             11.2.13 SHIN-ETSU CHEMICAL CO., LTD
                        TABLE 257 SHIN-ETSU CHEMICAL CO., LTD: BUSINESS OVERVIEW
             11.2.14 TEAPPCM
                        TABLE 258 TEAPPCM: BUSINESS OVERVIEW
             11.2.15 MILLIKEN & COMPANY
                        TABLE 259 MILLIKEN & COMPANY: BUSINESS OVERVIEW
             11.2.16 PLUSS ADVANCED TECHNOLOGIES PVT. LTD.
                        TABLE 260 PLUSS ADVANCED TECHNOLOGIES PVT. LTD.: BUSINESS OVERVIEW
 
12 ADJACENT & RELATED MARKETS (Page No. - 226)
     12.1 INTRODUCTION 
     12.2 LIMITATION 
     12.3 THERMAL ENERGY STORAGE MARKET 
             12.3.1 MARKET DEFINITION
             12.3.2 MARKET OVERVIEW
     12.4 THERMAL ENERGY STORAGE MARKET, BY REGION 
             TABLE 261 THERMAL ENERGY STORAGE MARKET, BY REGION, 2018–2025 (MWH)
             TABLE 262 THERMAL ENERGY STORAGE MARKET, BY REGION, 2018–2025 (USD THOUSAND)
             12.4.1 EUROPE
                        TABLE 263 EUROPE: THERMAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2025 (USD THOUSAND)
             12.4.2 AMERICAS
                        TABLE 264 AMERICAS: THERMAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2025 (USD THOUSAND)
             12.4.3 MIDDLE EAST & AFRICA
                        TABLE 265 MIDDLE EAST & AFRICA: THERMAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2025 (USD THOUSAND)
             12.4.4 ASIA PACIFIC
                        TABLE 266 ASIA PACIFIC: THERMAL ENERGY STORAGE MARKET, BY COUNTRY, 2018–2025 (USD THOUSAND)
 
13 APPENDIX (Page No. - 230)
     13.1 DISCUSSION GUIDE 
     13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     13.3 CUSTOMIZATION OPTIONS 
     13.4 RELATED REPORTS 
     13.5 AUTHOR DETAILS 

The study involved four major activities in estimating the market size for phase change materials market. Intensive secondary research was done to gather information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Post that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.

Secondary Research

Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold standard & silver standard websites such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research by conducting extensive interviews with key officials such as CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:

Primary Research

The phase change materials market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized from key opinion leaders in various applications for the phase change materials. The supply side is characterized by advancements in technology and diverse application industries. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Breakdown of Primary Participants

Phase Change Materials Market Size, and Share

Note: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2022 available in the public domain, product portfolios, and geographical presence.

Other designations include consultants and sales, marketing, and procurement managers.

To know about the assumptions considered for the study, download the pdf brochure

COMPANY NAME

DESIGNATION

Honeywell International Inc.

Global Strategy & Innovation Manager

DuPont de Nemours, Inc.

Technical Sales Manager

Croda International Plc

Senior Supervisor

Boyd Corporation

Production Supervisor

Sasol Limited

Production Manager

Market Size Estimation

Both top-down and bottom-up approaches were used to estimate and validate the total size of the phase change materials market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

  • The key players in the industry have been identified through extensive secondary research.
  • The supply chain of the industry has been determined through primary and secondary research.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
  • All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.

Phase change materials market: Bottom-Up Approach

Phase Change Materials Market Size, and Share

To know about the assumptions considered for the study, Request for Free Sample Report

Phase change materials market: Top-Down Approach

Phase Change Materials Market Size, and Share

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into respective segments and subsegments. To realize the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying several factors and trends from both the demand and supply sides in the phase change materials industry.

Market Definition

According to Phase Change Material Industry Association (PCMIA), Phase Change Materials (PCMs) are compounds that absorb, store, and release a large amount of heat at a relatively constant temperature by changing their physical state. When a PCM freezes, it releases a large amount of energy as latent heat whereas, when such material melts, it absorbs a large amount of heat from the environment. Heat stored in the materials is called latent heat, due to which, PCMs are also known as latent heat storage materials. PCMs absorb and release heat by liquefying and solidifying at set temperatures. The natural latent heat property of PCMs helps in maintaining a structure’s temperature and preventing sudden external changes. Fluctuations in ambient temperature recharge advanced PCMs, making them suitable for everyday applications.

High demand for phase change materials market in the building & construction industry is the main factor driving the market for phase change materials.

Key Stakeholders

  • Phase change materials manufacturers
  • Raw material manufacturers
  • Government planning commissions and research organizations
  • Industry associations
  • End-use industries
  • R&D institutions

Report Objectives

  • To analyze and forecast the size of the phase change materials market in terms of value and volume
  • To provide detailed information regarding key factors, such as drivers, restraints, challenges, and opportunities influencing the growth of the market
  • To define, describe, and segment the phase change materials market based on type and application
  • To forecast the size of the market segments for regions such as Asia Pacific, North America, Europe, and Rest of the World
  • To strategically analyze the segmented markets with respect to individual growth trends, prospects, and contributions to the overall market
  • To identify and analyze opportunities for stakeholders in the market
  • To strategically profile key players and comprehensively analyze their core competencies

Available Customizations

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Regional Analysis

  • Further breakdown of a region with respect to a particular country or additional type and application

Company Information

  • Detailed analysis and profiles of additional market players (up to five)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

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