Phase Change Materials Market 2026-2031 Report Now Available - Phase Change Materials Market to Reach USD 2.41 Billion by 2031, Growing at a 17.42% CAGR
Dublin, Sept. 30, 2026 (GLOBE NEWSWIRE) -- "Phase Change Materials - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2026-2031)" has been added to ResearchAndMarkets.com's offering.
The global phase change materials market is estimated to reach USD 1.08 billion in 2026, up from USD 0.92 billion in 2025. The market is projected to achieve a value of USD 2.41 billion by 2031, expanding at a compound annual growth rate of 17.42% from 2026 to 2031. Growth is being supported by stricter building-energy standards, expanding cold-chain logistics, electric vehicle adoption, and increasing investment in energy-efficient thermal management systems.
Building-Energy Codes Accelerate Phase Change Material Integration
Performance-based building codes are creating new opportunities for phase change materials in walls, gypsum boards, concrete blocks, and external insulation systems. These regulations allow architects and developers to incorporate latent-heat storage layers as part of broader energy-efficiency strategies. In lightweight wall systems, phase change materials can reduce peak cooling loads by approximately 35% to 45%.
Field results from Minnesota recorded a 5.49C decline in peak indoor temperature and a 77.8% shift in cooling loads toward off-peak hours. Such results provide regulators, construction companies, and building owners with measurable evidence of heating, ventilation, and air conditioning energy savings. Upcoming European Union renovation targets for 2027 are expected to further increase demand for phase change material-enhanced construction products.
Cold-Chain Logistics Supports Market Expansion
The rapid development of pharmaceutical and food cold-chain infrastructure is another major phase change materials market trend. Vaccines, advanced biologics, and precision meat products require highly controlled temperature conditions throughout storage and transportation. Phase change materials can maintain required temperature ranges for up to 72 hours without external power, reducing dependence on diesel generators during airport delays, customs inspections, and last-mile delivery disruptions.
Glycerol-water-sodium chloride blends can lower carbon emissions by approximately 30% to 40% compared with active cooling systems while extending pharmaceutical shelf life by an estimated 15% to 25%. These operational and environmental benefits are contributing to strong demand from healthcare logistics providers, packaging companies, and temperature-controlled transportation operators.
Safety and Supply Constraints Remain Key Challenges
Safety concerns associated with certain formulations may restrain phase change materials market growth. Paraffin waxes can ignite at temperatures of approximately 170C and may require flame-retardant additives that increase production costs and create health-labeling considerations. Some inorganic materials, including lithium nitrate, also present toxicity risks.
Recent advances in solid-solid phase change materials and in-situ polymerization are helping address leakage and flammability concerns. New formulations have achieved UL94 V-0 ratings without halogen-based flame retardants. However, wider commercial adoption will depend on cost-effective production, scalable encapsulation technologies, and greater alignment among international chemical safety standards. Volatility in the supply of high-purity salt hydrates also remains a concern for manufacturers.
Organic Materials Lead as Bio-Based Products Gain Momentum
Organic paraffin waxes represented 43.62% of global phase change materials sales in 2025. Their leading position reflects established supply chains, broad operating temperature ranges, and compatibility with macro-encapsulation products used in building panels and other thermal storage applications.
Demand is increasingly shifting toward bio-derived oils, tallow, and fatty-acid blends as companies seek to reduce life-cycle emissions. The bio-based phase change materials segment is forecast to expand at an 18.90% CAGR through 2031, outpacing other product categories. Growth is being encouraged by green-building certifications, including LEED credits, as well as municipal procurement policies that support biogenic materials.
By chemical composition, paraffin-based formulations generated 41.02% of market revenue in 2025. Their stable crystallization characteristics and adjustable melting points across the 0C to 90C range support use in construction, packaging, textiles, electronics, and transportation.
Salt hydrates are expected to challenge paraffin's market position, growing at a 17.76% CAGR through 2031. Their volumetric heat capacity can reach 350 kJ/L, while carbon additives can improve thermal conductivity. These characteristics support smaller and lighter components, making salt hydrates increasingly attractive for electric vehicle battery sleeves, compact data-center racks, and other space-constrained thermal management systems.
Europe Leads While Asia-Pacific Records the Fastest Growth
Europe accounted for 32.40% of global phase change materials sales in 2025. Regional demand is supported by the European Union's Energy Performance of Buildings Directive and requirements for new construction and deep-renovation projects to meet increasingly stringent energy targets. Projects in Germany and the Nordic countries have demonstrated heating, ventilation, and air conditioning energy savings of approximately 20% to 35% after integrating phase change materials into external wall insulation systems.
Asia-Pacific is forecast to be the fastest-growing regional market, expanding at an annual rate of 18.55% through 2031. China's heat-pump deployment is complementing phase change material thermal storage by helping reduce peak electricity demand. Continued urbanization, construction activity, cold-chain investment, and electric vehicle manufacturing are also strengthening regional demand.
North America is benefiting from updated energy codes, accelerating electric vehicle production, and expanding data-center capacity. U.S. data-center operators are testing phase change material-based thermal buffers to absorb server heat spikes, delay chiller activation, and improve energy efficiency. Government incentives for net-zero buildings and on-site energy storage are expected to support further adoption across the region.
Looking ahead, electrified transportation, low-carbon construction, pharmaceutical logistics, and advanced electronics are expected to remain central growth areas for the global phase change materials market. Continued innovation in bio-based formulations, salt hydrates, encapsulation systems, and flame-resistant products will be critical to achieving the projected USD 2.41 billion market value by 2031.
Key Topics Covered:
1 Introduction
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 Research Methodology
3 Executive Summary
4 Market Landscape
4.1 Market Overview
4.2 Market Drivers
4.2.1 Mandatory Building-Energy Codes in Europe and North America Accelerating PCM Integration
4.2.2 Rapid Deployment of Cold-Chain Logistics Infrastructure
4.2.3 Electrification of Vehicles Necessitating Advanced Thermal Battery Packs Using Salt-Hydrate PCMs
4.2.4 Government Incentives for Net-Zero Buildings Propelling Bio-based PCM Adoption
4.2.5 Expanding Global Trend Towards Energy Conservation and Sustainable Development
4.3 Market Restraints
4.3.1 Hazardous Nature of Phase Change Materials
4.3.2 Supply-Chain Volatility of High-Purity Salt Hydrates
4.3.3 Limited Awareness and Understanding
4.4 Value Chain Analysis
4.5 Porter's Five Forces
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Degree of Competition
4.6 Raw-Material Analysis
4.7 Patent Analysis
5 Market Size and Growth Forecasts (Value)
5.1 By Product Type
5.1.1 Organic
5.1.2 Inorganic
5.1.3 Bio-based
5.2 By Chemical Composition
5.2.1 Paraffin
5.2.2 Non-Paraffin Hydrocarbons
5.2.3 Salt Hydrates
5.2.4 Eutectics
5.3 By Encapsulation Technology
5.3.1 Macro-encapsulation
5.3.2 Micro-encapsulation
5.3.3 Molecular Encapsulation
5.4 By End-user Industry
5.4.1 Building and Construction
5.4.2 Packaging
5.4.3 Textiles
5.4.4 Electronics
5.4.5 Transportation
5.4.6 Other Industries (Healthcare, Defense)
5.5 By Geography
5.5.1 Asia-Pacific
5.5.1.1 China
5.5.1.2 India
5.5.1.3 Japan
5.5.1.4 South Korea
5.5.1.5 Rest of Asia-Pacific
5.5.2 North America
5.5.2.1 United States
5.5.2.2 Canada
5.5.2.3 Mexico
5.5.3 Europe
5.5.3.1 Germany
5.5.3.2 United Kingdom
5.5.3.3 France
5.5.3.4 Italy
5.5.3.5 Rest of Europe
5.5.4 South America
5.5.4.1 Brazil
5.5.4.2 Argentina
5.5.4.3 Rest of South America
5.5.5 Middle-East and Africa
5.5.5.1 Saudi Arabia
5.5.5.2 South Africa
5.5.5.3 Rest of Middle-East and Africa
6 Competitive Landscape
6.1 Market Concentration
6.2 Strategic Moves (Mergers and Acquistions, JV, Collaboration, Funding)
6.3 Market Share(%)/Ranking Analysis
6.4 Company Profiles {(includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share, Products and Services, and Recent Developments)}
6.4.1 BASF
6.4.2 Appvion, LLC.
6.4.3 Climator
6.4.4 Croda International Plc
6.4.5 Cryopak
6.4.6 DuPont
6.4.7 Henkel AG & Co. KGaA
6.4.8 Honeywell International Inc.
6.4.9 Laird Technologies, Inc.
6.4.10 Microtek
6.4.11 National Gypsum Services Company
6.4.12 Outlast Technologies GmbH
6.4.13 Parker Hannifin Corp
6.4.14 Phase Change Solutions
6.4.15 Pluss Advanced Technologies
6.4.16 PureTemp LLC
6.4.17 Rubitherm Technologies GmbH
6.4.18 Shenzhen Aochuan Technology Co.,Ltd.
6.4.19 Shin-Etsu Chemical Co., Ltd.
6.4.20 Sonoco Products Company
7 Market Opportunities and Future Outlook
7.1 White-space and Unmet-Need Assessment
7.2 Development of Phase Change Thermal Interface Material
For more information about this report visit https://www.researchandmarkets.com/r/oiycqe
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