The Global Phase Change Materials In Thermal Management Market was valued at USD 1.47 billion in 2024 and is estimated to grow at a CAGR of 8.3% to reach USD 3.25 billion by 2034.
The market focuses on the development and deployment of materials capable of storing, absorbing, and releasing thermal energy during state changes such as melting or solidifying. These materials are widely applied in sectors like electronics, automotive, and buildings, helping regulate temperature while improving energy efficiency. The increasing need for efficient thermal control across industries is a major growth driver for PCM technologies. Global demand is rising for high-performance thermal regulation systems that support smaller, more powerful electronic devices, sustainable buildings, and advanced automotive systems. Innovations like nano-enhanced PCMs and microencapsulation have significantly boosted durability, thermal conductivity, and integration potential, improving heat transfer and lifecycle performance. These improvements have made PCMs more attractive for integration in printed circuit boards, batteries, heat sinks, and more, enabling wider adoption across thermal-critical applications. The market’s growth reflects the broader push toward smarter energy use and optimized heat management.
The organic PCMs segment generated USD 662 million in 2024. Their strong position comes from their reliable thermal characteristics, excellent latent heat storage capacity, and long-term chemical stability, all of which are essential in areas like electronic component cooling and thermal regulation in buildings. Paraffin-based PCMs are widely used due to their broad melting point range, while fatty acids and alcohol-based PCMs are gaining recognition for their cycling stability in automotive and electronics applications that demand repetitive phase transitions without material breakdown.
The electronics cooling segment generated USD 574 million in 2024, reflecting the increasing pressure to manage heat generated by compact, high-density devices. As devices shrink and power demands rise, managing heat spikes and maintaining safe operational temperatures becomes essential. Microencapsulated PCMs are tailored for use within electronic assemblies, offering seamless integration into heat-sensitive systems without compromising structural integrity or electrical performance.
US Phase Change Materials in Thermal Management Market generated USD 378 million in 2024. This leadership is attributed to strong industrial capabilities and government-backed energy initiatives aimed at improving efficiency in construction and manufacturing. Policies encouraging sustainable building practices and the adoption of advanced energy-saving technologies have given PCMs a significant foothold. Additionally, the country’s advanced automotive and electronics sectors consistently seek out new solutions for thermal regulation, further driving PCM adoption.
Top companies active in the Global Phase Change Materials in Thermal Management Market are Cryopak Industries Inc., Sonoco ThermoSafe, Climate Change Materials, AeroSafe Global, Pelican BioThermal, Rubitherm Technologies GmbH, Pluss Advanced Technologies Pvt. Ltd., Cold Chain Technologies, Entropy Solutions Inc./PureTemp LLC, Cowa Thermal Solutions, Tetramer Technologies, Microtek Laboratories Inc., va-Q-tec, Salca BV, Outlast Technologies LLC, Datum Phase Change, PCM Energy Pvt. Ltd./Teappcm, Nanolope, Phase Change Material Products Limited (PlusICE), Advanced Cooling Technologies Inc., Mesa Laboratories Inc., Phase Change Energy Solutions, i-TES, Honeywell International Inc., Climator Sweden AB, Axiotherm GmbH, and Croda International Plc. Companies in the Phase Change Materials in Thermal Management Market are adopting a range of strategies to expand their market reach and stay competitive. Many are investing in advanced formulations such as nano-enhanced or bio-based PCMs to improve thermal conductivity, reduce environmental impact, and enhance cycling durability. Strategic collaborations with electronics and automotive OEMs are enabling easier integration of PCM solutions into high-performance systems. Additionally, leading manufacturers are expanding production capabilities and automating fabrication to meet growing global demand.
This product will be delivered within 2-4 business days.
The market focuses on the development and deployment of materials capable of storing, absorbing, and releasing thermal energy during state changes such as melting or solidifying. These materials are widely applied in sectors like electronics, automotive, and buildings, helping regulate temperature while improving energy efficiency. The increasing need for efficient thermal control across industries is a major growth driver for PCM technologies. Global demand is rising for high-performance thermal regulation systems that support smaller, more powerful electronic devices, sustainable buildings, and advanced automotive systems. Innovations like nano-enhanced PCMs and microencapsulation have significantly boosted durability, thermal conductivity, and integration potential, improving heat transfer and lifecycle performance. These improvements have made PCMs more attractive for integration in printed circuit boards, batteries, heat sinks, and more, enabling wider adoption across thermal-critical applications. The market’s growth reflects the broader push toward smarter energy use and optimized heat management.
The organic PCMs segment generated USD 662 million in 2024. Their strong position comes from their reliable thermal characteristics, excellent latent heat storage capacity, and long-term chemical stability, all of which are essential in areas like electronic component cooling and thermal regulation in buildings. Paraffin-based PCMs are widely used due to their broad melting point range, while fatty acids and alcohol-based PCMs are gaining recognition for their cycling stability in automotive and electronics applications that demand repetitive phase transitions without material breakdown.
The electronics cooling segment generated USD 574 million in 2024, reflecting the increasing pressure to manage heat generated by compact, high-density devices. As devices shrink and power demands rise, managing heat spikes and maintaining safe operational temperatures becomes essential. Microencapsulated PCMs are tailored for use within electronic assemblies, offering seamless integration into heat-sensitive systems without compromising structural integrity or electrical performance.
US Phase Change Materials in Thermal Management Market generated USD 378 million in 2024. This leadership is attributed to strong industrial capabilities and government-backed energy initiatives aimed at improving efficiency in construction and manufacturing. Policies encouraging sustainable building practices and the adoption of advanced energy-saving technologies have given PCMs a significant foothold. Additionally, the country’s advanced automotive and electronics sectors consistently seek out new solutions for thermal regulation, further driving PCM adoption.
Top companies active in the Global Phase Change Materials in Thermal Management Market are Cryopak Industries Inc., Sonoco ThermoSafe, Climate Change Materials, AeroSafe Global, Pelican BioThermal, Rubitherm Technologies GmbH, Pluss Advanced Technologies Pvt. Ltd., Cold Chain Technologies, Entropy Solutions Inc./PureTemp LLC, Cowa Thermal Solutions, Tetramer Technologies, Microtek Laboratories Inc., va-Q-tec, Salca BV, Outlast Technologies LLC, Datum Phase Change, PCM Energy Pvt. Ltd./Teappcm, Nanolope, Phase Change Material Products Limited (PlusICE), Advanced Cooling Technologies Inc., Mesa Laboratories Inc., Phase Change Energy Solutions, i-TES, Honeywell International Inc., Climator Sweden AB, Axiotherm GmbH, and Croda International Plc. Companies in the Phase Change Materials in Thermal Management Market are adopting a range of strategies to expand their market reach and stay competitive. Many are investing in advanced formulations such as nano-enhanced or bio-based PCMs to improve thermal conductivity, reduce environmental impact, and enhance cycling durability. Strategic collaborations with electronics and automotive OEMs are enabling easier integration of PCM solutions into high-performance systems. Additionally, leading manufacturers are expanding production capabilities and automating fabrication to meet growing global demand.
Comprehensive Market Analysis and Forecast
- Industry trends, key growth drivers, challenges, future opportunities, and regulatory landscape
- Competitive landscape with Porter’s Five Forces and PESTEL analysis
- Market size, segmentation, and regional forecasts
- In-depth company profiles, business strategies, financial insights, and SWOT analysis
This product will be delivered within 2-4 business days.
Table of Contents
Chapter 1 Methodology & Scope
Chapter 2 Executive Summary
Chapter 3 Industry Insights
Chapter 4 Competitive Landscape, 2024
Chapter 5 Market Estimates and Forecast, by Material Type, 2021-2034 (USD Million) (Kilo Tons)
Chapter 6 Market Estimates and Forecast, by Application, 2021-2034 (USD Million) (Kilo Tons)
Chapter 7 Market Estimates and Forecast, by Form Factor, 2021-2034 (USD Million) (Kilo Tons)
Chapter 8 Market Estimates and Forecast, by End Use Industry, 2021-2034 (USD Million) (Kilo Tons)
Chapter 9 Market Estimates and Forecast, by Temperature range, 2021-2034 (USD Million) (Kilo Tons)
Chapter 10 Market Estimates and Forecast, by Region, 2021-2034 (USD Million) (Kilo Tons)
Chapter 11 Company Profiles
Companies Mentioned
The companies profiled in this Phase Change Materials in Thermal Management market report include:- AeroSafe Global
- Advanced Cooling Technologies Inc.
- Axiotherm GmbH
- Climator Sweden AB
- Climate Change Materials
- Cold Chain Technologies
- Croda International Plc
- Cowa Thermal Solutions
- Datum Phase Change
- Entropy Solutions Inc./PureTemp LLC
- Honeywell International Inc.
- I-TES
- Microtek Laboratories Inc.
- Mesa Laboratories Inc.
- Nanolope
- Outlast Technologies LLC
- Pelican BioThermal
- Phase Change Energy Solutions
- Phase Change Material Products Limited (PlusICE)
- Pluss Advanced Technologies Pvt. Ltd.
- PCM Energy Pvt. Ltd./Teappcm
- Rubitherm Technologies GmbH
- Salca BV
- Sonoco ThermoSafe
- Sunamp
- Tetramer Technologies
- Va-Q-tec
- Cryopak Industries Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | October 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 1.47 Billion |
| Forecasted Market Value ( USD | $ 3.25 Billion |
| Compound Annual Growth Rate | 8.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 29 |
