Canada Phase Change Materials Market (2025-2030)
The Canada Phase Change Materials Market was valued at $3.29 Million in 2025 and projected to reach to $3.64 Million by 2030, representing a compound annual growth rate of CAGR 10.7%. Canada's Phase Change Materials market is poised for steady growth driven by the nation's commitment to energy efficiency and climate adaptation strategies.
| Market Size in | USD 26.32 MN |
| Market Forecast in | |
| CAGR | |
| Forecast Period | |
| Units Considered | Value (USD MN) |
Canada Phase Change Materials Market Trends and Insights
- Rest Of Middle East & Africa represents an emerging segment within the broader Middle East & Africa region, driven by increasing demand for thermal energy storage solutions and temperature regulation applications across industrial and commercial sectors.
- The market in Rest Of Middle East & Africa is characterized by growing adoption in building thermal management, cold chain logistics, and renewable energy integration, supported by regional infrastructure development and rising awareness of energy efficiency. During the forecast period from 2025 to 2030, Rest Of Middle East & Africa is expected to benefit from expanding manufacturing capabilities and heightened investment in sustainable technologies.
- The region's phase change materials market growth is underpinned by applications in HVAC systems, textiles, and electronics cooling, with Rest Of Middle East & Africa gradually establishing itself as a secondary market within the MEA landscape.
- Strategic partnerships and localized production initiatives are anticipated to strengthen Rest Of Middle East & Africa's market position and accessibility..
Key Market Statistics
- CAGR (2025-2030) CAGR 10.7%
- Market Size, 2025 ~USD 3.29 Million
- Forecast, 2030 ~USD 3.64 Million
- Country Canada
Canada Phase Change Materials Market Overview
Market Growth Trajectory :
Canada's Phase Change Materials market is expanding at a CAGR of 10.7%, growing from USD 3.29 million in 2025 to USD 3.64 million by 2030, reflecting steady adoption across thermal management applications.
Cold Climate Advantage :
Canada's extreme climate conditions drive demand for advanced thermal energy storage solutions in building heating systems, HVAC applications, and industrial temperature regulation, positioning the country as a key growth market.
Building & Construction Focus :
The Canadian construction sector increasingly integrates PCM technology in building envelopes and insulation systems to improve energy efficiency and reduce heating costs, particularly in northern provinces.
Regulatory & Sustainability Push :
Canada's stringent energy efficiency codes and net-zero building mandates are accelerating PCM adoption among builders and manufacturers seeking compliant thermal management solutions.
Canada Phase Change Materials Market Dynamics
- The country's cold climate creates inherent demand for advanced thermal storage solutions in residential and commercial construction.
- Building codes increasingly mandate energy-efficient systems, positioning PCM technology as a critical component in achieving net-zero targets.
- Industrial applications in food storage, pharmaceuticals, and temperature-sensitive logistics are also expanding, supported by Canada's robust supply chain infrastructure and manufacturing capabilities..
Related Ecosystem
Foam And Insulation
- Fiberglass
- Acoustic Insulation
- Elastomeric Foam
- HVAC System
- Flexible Foam
- Basf se
- Saint-gobain
- ARMACELL INTERNATIONAL
- THE WOODBRIDGE GROUP
- Sekisui Chemical Co., Ltd.
Renewable Energy Material
- HVAC System
- Actuators
- Aramid Fiber
- Electrical Insulation
- Electrochemical BioSensor
- Basf se
- Evonik industries ag
- Borealis ag
- Wacker chemie ag
- Henkel ag and co. kgaa
Resins And Polymers
- Polycarbonate
- Acrylonitrile Butadiene Styrene (ABS)
- Epoxy Resin
- Light Commercial Vehicles (LCVs)
- Polypropylene (PP)
- Basf se
- DOW CHEMICAL COMPANY
- Solvay sa
- Saudi arabia basic industries corporation (sabic)
- DuPont de Nemours, Inc.
Key Takeaways
- Rest Of Middle East & Africa's Phase Change Materials Market is valued at USD 3.29 million in 2025 and is forecast to reach USD 3.64 million by 2030.
- Rest Of Middle East & Africa exhibits a steady CAGR of 10.7% over the 2025–2030 forecast period, reflecting moderate but consistent market expansion.
- Rest Of Middle East & Africa's growth is driven by thermal energy storage adoption, building efficiency initiatives, and renewable energy applications.
- Rest Of Middle East & Africa is positioning itself as an emerging secondary market within MEA, with increasing localized production and strategic partnerships.
Phase Change Materials Market Report Scope
| Report Metric | Details |
|---|---|
| Base Year | 2025 |
| Fastest Growing Segment | COLD CHAIN & PACKAGING (Application) |
| Forecast Period | 2025–2030 |
| Growth Rate | CAGR of 17.58% from 2025 to 2030 |
| Largest Segment | ORGANIC PCM (Type) |
| Market Size Base Year (Billions) | ~USD 0.73 (2025) |
| Revenue Forecast (Billions) | ~USD 1.64 (2030) |
| Segments Covered | Type, Application |
Canada Phase Change Materials Market Report Segmentation
2 segment dimensions are covered across the global market.
By Type
- Eutectic Pcm
- Inorganic Pcm
- Organic Pcm
By Application
- Building & Construction
- Cold Chain & Packaging
- Electronics
- Hvac
- Other Applications
- Refrigeration & Equipment
- Textiles
- Thermal Energy Storage
Target Audience
- Construction & Building Material Manufacturers : Need Canadian market data to develop PCM-integrated insulation products and building envelope solutions compliant with evolving energy codes and net-zero construction standards.
- HVAC & Thermal Systems Suppliers : Require market insights to position thermal energy storage solutions in Canada's heating-intensive climate, supporting energy efficiency retrofits and new construction projects.
- Industrial & Cold-Chain Logistics Companies : Seek PCM market intelligence to optimize temperature-controlled storage and transportation solutions for pharmaceuticals, food products, and temperature-sensitive goods across Canada.
- Energy & Sustainability Consultants : Need Canadian-specific market data to advise clients on PCM adoption for achieving net-zero targets, energy cost reduction, and regulatory compliance in building projects.
- Investment & Strategy Teams : Require detailed market forecasts and growth drivers to evaluate investment opportunities, M&A targets, and expansion strategies in Canada's emerging PCM sector.
Key Companies in the Canada Phase Change Materials Market
| Company | HQ | Ownership | Strongest segments |
|---|---|---|---|
| BASF SE | Germany | Public Company | Chemicals (petrochemicals and intermediates),Materials (isocyanates, polyamides, plastics specialties),Industrial Solutions (dispersions, resins, additives, catalysts), |
| ROYAL DUTCH SHELL PLC | United Kingdom | Public Company | Integrated Gas (including LNG and GTL),Upstream (oil, gas, NGLs),Marketing (mobility, lubricants, commercial fuels, EV charging), |
| SHELL PLC | United Kingdom | Public Company | Integrated Gas (incl. LNG and GTL),Upstream (oil, gas, NGLs),Marketing (mobility, lubricants, commercial fuels), |
| HONEYWELL INTERNATIONAL INC. | United States | Public Company | Industrial Automation,Building Automation,Energy and Sustainability Solutions (UOP and related), |
| DUPONT DE NEMOURS, INC. | United States | Public Company | Healthcare & Water Technologies,Construction Materials (TYVEK, STYROFOAM, CORIAN),Engineered Components & Specialty Materials, |
| CRODA INTERNATIONAL PLC. | United Kingdom | Public Company | Consumer Care (beauty care, actives, home care, fragrances & flavours),Life Sciences (biologics delivery, crop protection, seed coating & enhancement),Industrial Specialties (phase change materials, surfactants, textile & spin finishes), |
| BOYD CORPORATION | Canada | Public Company | Collision repair centers,Retail auto glass services,Claims administration and roadside/ancillary services, |
| SASOL LIMITED | South Africa | Public Company | Transport fuels (petrol, diesel, jet, burner fuels, illuminating paraffin),Natural gas, methane-rich gas, LPG, and industrial heating fuels,Base and performance chemicals for industrial, mining, paper, water, textile, and leather, |
BASF SE
BASF SE is a German public company founded in 1865 with 106,428 employees. It is one of the world's largest chemical manufacturers.
ROYAL DUTCH SHELL PLC
Royal Dutch Shell PLC is a United Kingdom-based public company founded in 1897 with 84,000 employees. It operates as a major international oil and gas company.
SHELL PLC
Shell PLC is a United Kingdom-based public company founded in 1897 with 84,000 employees. It operates as a major international oil and gas company.
HONEYWELL INTERNATIONAL INC.
Honeywell International Inc. is a United States-based public company founded in 1885 with 101,000 employees. It is a diversified technology and manufacturing conglomerate.
DUPONT DE NEMOURS, INC.
DuPont de Nemours, Inc. is a United States-based public company founded in 2015 with 15,000 employees. It operates as a specialty chemicals and materials manufacturer.
CRODA INTERNATIONAL PLC.
Croda International PLC is a United Kingdom-based public company founded in 1925 with 5,954 employees. It specializes in specialty chemicals and ingredients.
BOYD CORPORATION
Boyd Corporation is a Canada-based public company founded in 1990 with 13,424 employees.
SASOL LIMITED
Sasol Limited is a South Africa-based public company founded in 1950 with 27,107 employees. It operates in energy and chemicals production.
Reasons to Buy this Report
- Market-Specific Growth Data : Access precise Canadian market sizing (USD 3.29M-3.64M) and 10.7% CAGR forecasts to benchmark investments and identify expansion opportunities in this emerging segment.
- Regional Application Insights : Understand how Canada's climate, building codes, and net-zero mandates drive PCM adoption differently than global markets, enabling targeted product development and market entry strategies.
- Competitive Landscape Analysis : Identify key players, market gaps, and competitive positioning specific to Canada's PCM sector to inform partnership, acquisition, or go-to-market decisions.
- Sector-Specific Opportunities : Discover high-potential applications in Canadian construction, industrial logistics, and cold-chain management where PCM technology delivers measurable ROI and regulatory compliance benefits.
- Strategic Planning & Forecasting : Leverage 5-year forecasts and trend analysis to align R&D investments, supply chain planning, and sales strategies with Canada's evolving thermal management market dynamics.
Frequently asked questions
What is the market size of Phase Change Materials in Rest Of Middle East & Africa?
Rest Of Middle East & Africa's Phase Change Materials Market is estimated at USD 3.29 million in 2025 and is projected to grow to USD 3.64 million by 2030.
What is the CAGR for Phase Change Materials in Rest Of Middle East & Africa?
Rest Of Middle East & Africa's Phase Change Materials Market is expected to grow at a CAGR of 10.7% from 2025 to 2030.
What are the primary applications driving demand in Rest Of Middle East & Africa?
Rest Of Middle East & Africa's market is driven by applications in thermal energy storage, building HVAC systems, cold chain logistics, textiles, and electronics cooling.
What factors are supporting growth in Rest Of Middle East & Africa's market?
Rest Of Middle East & Africa's growth is supported by infrastructure development, energy efficiency awareness, renewable energy integration, and localized manufacturing initiatives.
How does Rest Of Middle East & Africa compare to the broader MEA region?
Rest Of Middle East & Africa represents an emerging secondary segment within the Middle East & Africa region, with steady growth and increasing strategic investments in phase change material applications.
RESEARCH METHODOLOGY
The study involved four major activities in estimating the size of the phase change materials market. Exhaustive secondary research was done to collect 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 complete the overall market size estimation process. After 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 and silver-standard websites, such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research, which involved conducting extensive interviews with key officials, including 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. Primary research from the demand side includes key opinion leaders in various end-use industries of phase change materials. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Notes: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2023/2024 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. |
Senior Manager |
|
Croda International Plc |
Innovation Manager |
|
Microtek Laboratories Inc. |
Vice President |
|
Sasol Limited |
Production Supervisor |
|
PureTemp LLC |
Sales Manager |
Market Size Estimation
Both the 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 : Top-Down and Bottom-Up Approach
Data Triangulation
After determining the overall market size using the market size estimation processes explained above, the market was divided into several segments and subsegments. To complete the overall market engineering process and determine the exact statistics for each market segment and subsegment, data triangulation and market breakdown procedures were employed, as applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the phase change materials industry.
Market Definition
According to the Phase Change Material Industry Association (PCMIA), “Phase change materials are compounds that absorb, store, and release a large amount of heat at a relatively constant temperature by changing their physical state. When a phase change material 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, phase change materials are also known as latent heat storage materials. Phase change materials absorb and release heat by liquefying and solidifying at set temperatures. The natural latent heat property of phase change materials helps maintain a structure’s temperature and prevent sudden external changes. Fluctuations in ambient temperature recharge advanced phase change materials, making them suitable for everyday applications.
Stakeholders
- Phase change material manufacturers
- Phase change material distributors
- Raw material suppliers
- Government and research organizations
- Investment banks and private equity firms
Report Objectives
- To analyze and forecast the size of the global phase change materials market in terms of value and volume
- To provide detailed information about the important drivers, restraints, challenges, and opportunities influencing the market growth
- To define, describe, and segment the market based on type, application, and region
- To forecast the size of the market segments based on regions such as Asia Pacific, North America, Europe, and the 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 analyze competitive developments such as expansions, partnerships & collaborations, mergers & acquisitions, agreements, and product launches in the market
- To strategically profile the key companies and comprehensively analyze their core competencies
Available Customizations
Along with the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application
Company Information
- Detailed analysis and profiles of additional market players (up to five)
Get the Full Phase Change Materials Market Report
Full forecast, segment splits, and company analysis for all Phase Change Materials Market.
- China Phase Change Materials Market
- India Phase Change Materials Market
- Australia Phase Change Materials Market
- Singapore Phase Change Materials Market
- Germany Phase Change Materials Market
- France Phase Change Materials Market
- UK Phase Change Materials Market
- Netherlands Phase Change Materials Market
- US Phase Change Materials Market
- Rest Of North America Phase Change Materials Market
- Rest Of Europe Phase Change Materials Market
- Italy Phase Change Materials Market
- Spain Phase Change Materials Market
- Rest Of Asia Pacific Phase Change Materials Market
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