Phase Change Materials Companies

The phase change materials market is estimated to grow from USD 729.76 million in 2025 to USD 1,639.71 million by 2030, at a CAGR of 17.58%. 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. 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.

The HVAC (heating, ventilation, and air conditioning) sector is the third-largest application of phase change materials, fueled by the increasing focus on energy-efficient and environmentally friendly temperature management solutions. PCMs are being used more frequently in HVAC systems to absorb and release thermal energy and moderate temperature fluctuations, decrease peak energy loads, and enhance system efficiency. Their capacity to provide stable interior climates without wasteful energy consumption positions them well for both residential and commercial structures. The increased need for green building technologies, combined with strict regulations on energy efficiency, has further spurred the usage of PCMs in HVAC. Moreover, breakthroughs in encapsulation and stability of materials have raised PCM performance to higher standards, making it possible for more long-lasting, affordable, and sustainable HVAC technologies worldwide.

The dominant strategies prevailing in the phase change materials market are collaboration & partnerships, acquisition, and geographic expansion. Companies such as Cold Chain Technologies (US) and DuPont De Nemours, Inc. (US) focus on collaboration and acquisition and emphasize global expansion to strengthen their market presence.

Phase Change Materials Companies

The key players profiled in the report 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), PureTemp LLC (US), Rubitherm Technologies GmbH (Germany), Phase Change Materials Products Ltd. (UK), Cold Chain Technologies (US), Phase Change Solutions (US), Climator Sweden AB (Sweden), and Microtek Laboratories Inc. (US). These companies have adopted several strategies to enhance their position in the market. Some of these strategies involve introducing new technology, expansion of the company, acquisitions, and launching new products to help expand their market share.

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

Honeywell International Inc., a global leader in phase change materials, offers products for buildings, personal safety, vehicles, footwear, industrial, manufacturing, aerospace & defense, oil & gas, security & fire, healthcare & medical, chemicals, and specialty material applications. Honeywell Electronic Materials, Inc. is a subsidiary of Honeywell International Inc. (US). The company provides critical materials for the semiconductor, photovoltaic, display, and light-emitting diode (LED) industries. It offers a portfolio of electronic chemicals, electronic polymers, thermocouples, sputtering targets, coil sets, high-purity metals, and advanced packaging solutions. It operates through the aerospace, performance materials and technologies, safety and productivity solutions, Honeywell building technologies, and corporate & all other segments. The company offers phase change materials through the performance materials and technologies segment.

Honeywell International Inc. operates in approximately 750 locations, of which 210 are manufacturing sites. The company has a strong global presence across 82 countries in North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

DuPont de Nemours, Inc. is a global innovation leader with technology-based materials and solutions that help transform industries and everyday life by applying diverse science and expertise to help customers advance their best ideas and deliver essential innovations in key markets, including electronics, transportation, building & construction, healthcare, and worker safety. In March 2021, the company signed an agreement to acquire the performance materials segment of Laird Plc. The company’s worldwide operations are managed through global businesses, which are currently reported in three segments: electronics & industrial, water & protection, and corporate & other. The company offers phase change materials through the electronics & industrial segment.

The company has subsidiaries in approximately 60 countries and 134 manufacturing operations and other significant sites in approximately 25 countries in North America, South America, Europe, the Middle East & Africa, and Asia Pacific.

The phase change materials market is fragmented, with major players collectively accounting for 20%–25% of the global market in 2024. Honeywell International Inc. (US) is the leading player in the segment, offering a wide range of phase change materials and extensive integration in several applications such as building & construction, HVAC, cold chain & packaging, thermal energy storage, refrigeration & equipment, and other applications. DuPont de Nemours, Inc. (US) maintains a strong market position, focusing on phase change materials and its global supply operations. Croda International plc (UK) remains on an upward growth trajectory by expanding its base through various R&D innovations. In the case of the new generation phase change materials, Boyd Corporation (US) holds a dominant position in the market. The other 70–75% of the market is comprised of other regional small and medium-scale manufacturers. Market competition is driven by technological developments in phase change materials and the expanding uses of phase change materials in various applications in emerging economies.

Related Reports:

Phase Change Materials Market by Type (Organic PCM, Inorganic PCM, Eutectic PCM), Application (Building & Construction, HVAC, Cold Chain & Packaging, Thermal Energy Storage, Refrigeration & Equipment, Textiles, Electronics, Other Applications), and Region - Global Forecasts to 2030