The phase change materials (PCMs) in thermal management market size has grown strongly in recent years. It will grow from $1.7 billion in 2025 to $1.85 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to rising demand for temperature regulation in electronics, growing adoption of pcm-based thermal management in automotive, increasing use of organic pcms in construction, advances in inorganic pcm formulations, early adoption in textile and wearable applications.
The phase change materials (PCMs) in thermal management market size is expected to see strong growth in the next few years. It will grow to $2.6 billion by 2030 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increasing integration of pcms in electric vehicle batteries, growth in sustainable and bio-based pcm applications, rising demand for cold chain and logistics efficiency, expansion in industrial and commercial building applications, innovations in nano-enhanced and composite pcm materials. Major trends in the forecast period include advancements in micro and macro encapsulation technologies, rising adoption of bio-based phase change materials, integration of pcms in cold chain and logistics solutions, growing use of pcms in battery thermal management systems, increasing focus on energy efficiency in building and construction.
The increasing demand for energy-efficient buildings is anticipated to propel the expansion of phase change materials (PCMs) in the thermal management market going forward. Energy-efficient buildings are structures engineered to reduce energy consumption through enhanced insulation, heating, cooling, and thermal regulation systems. The demand for energy-efficient buildings is primarily driven by escalating global energy costs and tightening government regulations, as countries worldwide have implemented stringent building energy codes and decarbonization mandates that compel both new construction and retrofitting activities to comply with higher performance standards. The growing focus on minimizing thermal energy loss in buildings is contributing to the adoption of PCMs, as these materials offer advanced latent heat storage capabilities that help stabilize indoor temperatures while significantly lowering the energy required for heating and cooling. For instance, in May 2024, according to the U.S. Environmental Protection Agency, a US-based federal government agency responsible for environmental protection, the number of commercial buildings that achieved ENERGY STAR certification increased from more than 7,000 in 2022 to over 8,800 in 2023, marking an increase of approximately 1,800 buildings. Therefore, the rising demand for energy-efficient buildings is supporting the growth of phase change materials (PCMs) in the thermal management market.
Prominent companies operating in the phase change materials (PCMs) in the thermal management market are focusing on developing innovative solutions, such as nano-phase change material-based cooling systems, to meet the rising demand for efficient and stable temperature control in energy storage systems. Nano-phase change material (nano-PCM)-based cooling systems refer to advanced thermal management systems that use nano-engineered phase change materials to absorb, store, and release heat efficiently during temperature fluctuations. In March 2025, PuRE, an India-based energy storage and technology company, introduced PuRE Power. It integrates nano-PCM thermal regulation technology into its energy storage solutions. This innovative thermal management product uses engineered nanoscale phase change materials that undergo reversible melting and solidification, providing high latent heat storage capacity to maintain optimal battery operating temperatures. It provides passive and uniform temperature regulation without requiring moving parts or external power, thereby improving battery life, safety, and performance. It is well-suited for renewable energy storage, electric mobility, and high-density power electronics, where effective thermal management is essential, while helping reduce thermal hotspots, prevent overheating, and enhance overall system efficiency.
In October 2024, Sunwin Industry Group, a China-based textile manufacturer, acquired Outlast Technologies GmbH for an undisclosed amount. Through this acquisition, Sunwin Industry Group intends to enhance its advanced textile portfolio by incorporating proprietary phase change material (PCM) technology to improve temperature-regulating performance, broaden its global presence, and strengthen its competitive position in smart and functional textiles. Outlast Technologies GmbH is a Germany-based developer of microencapsulated phase change materials (mPCMs) for temperature-regulating textiles and related products.
Major companies operating in the phase change materials (PCMs) in thermal management market are BASF SE, Honeywell International Inc., 3M Company, Henkel AG & Co. KGaA, Sumitomo Chemical Co. Ltd., Evonik Industries AG, Sasol Germany GmbH, Wacker Chemie AG, Boyd Corporation, Croda International Plc, Morgan Advanced Materials Plc, Kaneka Corporation, Aspen Aerogels Inc., Phase Change Energy Solutions LLC, Cryopak Industries Inc., Pluss Advanced Technologies Pvt. Ltd., Advanced Cooling Technologies Inc., Microtek Laboratories Inc., Climator Sweden AB, Rubitherm Technologies GmbH, PCM Products Ltd., PureTemp LLC.
North America was the largest region in the phase change materials (PCMs) in the thermal management market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phase change materials (PCMs) in thermal management market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the phase change materials (PCMs) in thermal management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The phase change materials (PCMs) in the thermal management market consist of sales of microencapsulated phase change materials (PCMs), shape-stabilized phase change materials (PCMs) panels, phase change materials (PCMs) thermal interface pads, and phase change materials (PCMs) heat sink modules. Values in this market are factory gate values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
The phase change materials (PCMs) in thermal management market size is expected to see strong growth in the next few years. It will grow to $2.6 billion by 2030 at a compound annual growth rate (CAGR) of 8.9%. The growth in the forecast period can be attributed to increasing integration of pcms in electric vehicle batteries, growth in sustainable and bio-based pcm applications, rising demand for cold chain and logistics efficiency, expansion in industrial and commercial building applications, innovations in nano-enhanced and composite pcm materials. Major trends in the forecast period include advancements in micro and macro encapsulation technologies, rising adoption of bio-based phase change materials, integration of pcms in cold chain and logistics solutions, growing use of pcms in battery thermal management systems, increasing focus on energy efficiency in building and construction.
The increasing demand for energy-efficient buildings is anticipated to propel the expansion of phase change materials (PCMs) in the thermal management market going forward. Energy-efficient buildings are structures engineered to reduce energy consumption through enhanced insulation, heating, cooling, and thermal regulation systems. The demand for energy-efficient buildings is primarily driven by escalating global energy costs and tightening government regulations, as countries worldwide have implemented stringent building energy codes and decarbonization mandates that compel both new construction and retrofitting activities to comply with higher performance standards. The growing focus on minimizing thermal energy loss in buildings is contributing to the adoption of PCMs, as these materials offer advanced latent heat storage capabilities that help stabilize indoor temperatures while significantly lowering the energy required for heating and cooling. For instance, in May 2024, according to the U.S. Environmental Protection Agency, a US-based federal government agency responsible for environmental protection, the number of commercial buildings that achieved ENERGY STAR certification increased from more than 7,000 in 2022 to over 8,800 in 2023, marking an increase of approximately 1,800 buildings. Therefore, the rising demand for energy-efficient buildings is supporting the growth of phase change materials (PCMs) in the thermal management market.
Prominent companies operating in the phase change materials (PCMs) in the thermal management market are focusing on developing innovative solutions, such as nano-phase change material-based cooling systems, to meet the rising demand for efficient and stable temperature control in energy storage systems. Nano-phase change material (nano-PCM)-based cooling systems refer to advanced thermal management systems that use nano-engineered phase change materials to absorb, store, and release heat efficiently during temperature fluctuations. In March 2025, PuRE, an India-based energy storage and technology company, introduced PuRE Power. It integrates nano-PCM thermal regulation technology into its energy storage solutions. This innovative thermal management product uses engineered nanoscale phase change materials that undergo reversible melting and solidification, providing high latent heat storage capacity to maintain optimal battery operating temperatures. It provides passive and uniform temperature regulation without requiring moving parts or external power, thereby improving battery life, safety, and performance. It is well-suited for renewable energy storage, electric mobility, and high-density power electronics, where effective thermal management is essential, while helping reduce thermal hotspots, prevent overheating, and enhance overall system efficiency.
In October 2024, Sunwin Industry Group, a China-based textile manufacturer, acquired Outlast Technologies GmbH for an undisclosed amount. Through this acquisition, Sunwin Industry Group intends to enhance its advanced textile portfolio by incorporating proprietary phase change material (PCM) technology to improve temperature-regulating performance, broaden its global presence, and strengthen its competitive position in smart and functional textiles. Outlast Technologies GmbH is a Germany-based developer of microencapsulated phase change materials (mPCMs) for temperature-regulating textiles and related products.
Major companies operating in the phase change materials (PCMs) in thermal management market are BASF SE, Honeywell International Inc., 3M Company, Henkel AG & Co. KGaA, Sumitomo Chemical Co. Ltd., Evonik Industries AG, Sasol Germany GmbH, Wacker Chemie AG, Boyd Corporation, Croda International Plc, Morgan Advanced Materials Plc, Kaneka Corporation, Aspen Aerogels Inc., Phase Change Energy Solutions LLC, Cryopak Industries Inc., Pluss Advanced Technologies Pvt. Ltd., Advanced Cooling Technologies Inc., Microtek Laboratories Inc., Climator Sweden AB, Rubitherm Technologies GmbH, PCM Products Ltd., PureTemp LLC.
North America was the largest region in the phase change materials (PCMs) in the thermal management market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the phase change materials (PCMs) in thermal management market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the phase change materials (PCMs) in thermal management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The phase change materials (PCMs) in the thermal management market consist of sales of microencapsulated phase change materials (PCMs), shape-stabilized phase change materials (PCMs) panels, phase change materials (PCMs) thermal interface pads, and phase change materials (PCMs) heat sink modules. Values in this market are factory gate values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 1-3 business days.
Table of Contents
1. Executive Summary
2. Phase Change Materials (PCMs) in Thermal Management Market Characteristics
3. Phase Change Materials (PCMs) in Thermal Management Market Supply Chain Analysis
4. Global Phase Change Materials (PCMs) in Thermal Management Market Trends and Strategies
5. Phase Change Materials (PCMs) in Thermal Management Market Analysis of End Use Industries
7. Global Phase Change Materials (PCMs) in Thermal Management Strategic Analysis Framework, Current Market Size, Market Comparisons and Growth Rate Analysis
8. Global Phase Change Materials (PCMs) in Thermal Management Total Addressable Market (TAM) Analysis for the Market
9. Phase Change Materials (PCMs) in Thermal Management Market Segmentation
10. Phase Change Materials (PCMs) in Thermal Management Market Regional and Country Analysis
11. Asia-Pacific Phase Change Materials (PCMs) in Thermal Management Market
12. China Phase Change Materials (PCMs) in Thermal Management Market
13. India Phase Change Materials (PCMs) in Thermal Management Market
14. Japan Phase Change Materials (PCMs) in Thermal Management Market
15. Australia Phase Change Materials (PCMs) in Thermal Management Market
16. Indonesia Phase Change Materials (PCMs) in Thermal Management Market
17. South Korea Phase Change Materials (PCMs) in Thermal Management Market
18. Taiwan Phase Change Materials (PCMs) in Thermal Management Market
19. South East Asia Phase Change Materials (PCMs) in Thermal Management Market
20. Western Europe Phase Change Materials (PCMs) in Thermal Management Market
21. UK Phase Change Materials (PCMs) in Thermal Management Market
22. Germany Phase Change Materials (PCMs) in Thermal Management Market
23. France Phase Change Materials (PCMs) in Thermal Management Market
24. Italy Phase Change Materials (PCMs) in Thermal Management Market
25. Spain Phase Change Materials (PCMs) in Thermal Management Market
26. Eastern Europe Phase Change Materials (PCMs) in Thermal Management Market
27. Russia Phase Change Materials (PCMs) in Thermal Management Market
28. North America Phase Change Materials (PCMs) in Thermal Management Market
29. USA Phase Change Materials (PCMs) in Thermal Management Market
30. Canada Phase Change Materials (PCMs) in Thermal Management Market
31. South America Phase Change Materials (PCMs) in Thermal Management Market
32. Brazil Phase Change Materials (PCMs) in Thermal Management Market
33. Middle East Phase Change Materials (PCMs) in Thermal Management Market
34. Africa Phase Change Materials (PCMs) in Thermal Management Market
36. Phase Change Materials (PCMs) in Thermal Management Market Competitive Landscape and Company Profiles
37. Phase Change Materials (PCMs) in Thermal Management Market Other Major and Innovative Companies
41. Phase Change Materials (PCMs) in Thermal Management Market High Potential Countries, Segments and Strategies
42. Appendix
Executive Summary
Phase Change Materials (PCMs) In Thermal Management Market Global Report 2026 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses phase change materials (pcms) in thermal management market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for phase change materials (pcms) in thermal management? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The phase change materials (pcms) in thermal management market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
- The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
- The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
- The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
- The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
- The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
- Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.
Report Scope
Markets Covered:
1) By Material Type: Organic Phase Change Materials (PCMs); Inorganic Phase Change Materials (PCMs); Bio Based Phase Change Materials (PCMs); Composite And Enhanced Phase Change Materials (PCMs)2) By Form Factor: Bulk And Raw Phase Change Materials (PCMs); Micro-Encapsulated Phase Change Materials (PCMs); Macro-Encapsulated Phase Change Materials (PCMs); Shape-Stabilized Phase Change Materials (PCMs)
3) By Temperature Range: Low Temperature; Comfort Range; Medium Temperature; High Temperature
4) By Application: Building And Construction; Electronics Cooling; Battery Thermal Management; Automotive; Textiles And Wearables; Cold Chain And Logistics
Subsegments:
1) By Organic Phase Change Materials (PCMs): Paraffin Wax Based Materials; Fatty Acid Based Materials; Polyethylene Glycol Based Materials; Bio Derived Organic Compounds; Hydrocarbon Based Materials2) By Inorganic Phase Change Materials (PCMs): Salt Hydrate Based Materials; Metal Based Materials; Eutectic Inorganic Mixtures; Hydrated Mineral Compounds; Silicate Based Materials
3) By Bio Based Phase Change Materials (PCMs): Plant Oil Derived Materials; Animal Fat Derived Materials; Natural Wax Based Materials; Biopolymer Based Materials; Agricultural Residue Derived Materials
4) By Composite And Enhanced Phase Change Materials (PCMs): Encapsulated Phase Change Materials; Polymer Matrix Composite Materials; Nano Enhanced Phase Change Materials; Form Stable Composite Materials; Hybrid Organic Inorganic Composite Materials
Companies Mentioned: BASF SE; Honeywell International Inc.; 3M Company; Henkel AG & Co. KGaA; Sumitomo Chemical Co. Ltd.; Evonik Industries AG; Sasol Germany GmbH; Wacker Chemie AG; Boyd Corporation; Croda International Plc; Morgan Advanced Materials Plc; Kaneka Corporation; Aspen Aerogels Inc.; Phase Change Energy Solutions LLC; Cryopak Industries Inc.; Pluss Advanced Technologies Pvt. Ltd.; Advanced Cooling Technologies Inc.; Microtek Laboratories Inc.; Climator Sweden AB; Rubitherm Technologies GmbH; PCM Products Ltd.; PureTemp LLC.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: Word, PDF or Interactive Report + Excel Dashboard
Added Benefits
- Bi-Annual Data Update
- Customisation
- Expert Consultant Support
Companies Mentioned
The companies featured in this Phase Change Materials (PCMs) in Thermal Management market report include:- BASF SE
- Honeywell International Inc.
- 3M Company
- Henkel AG & Co. KGaA
- Sumitomo Chemical Co. Ltd.
- Evonik Industries AG
- Sasol Germany GmbH
- Wacker Chemie AG
- Boyd Corporation
- Croda International Plc
- Morgan Advanced Materials Plc
- Kaneka Corporation
- Aspen Aerogels Inc.
- Phase Change Energy Solutions LLC
- Cryopak Industries Inc.
- Pluss Advanced Technologies Pvt. Ltd.
- Advanced Cooling Technologies Inc.
- Microtek Laboratories Inc.
- Climator Sweden AB
- Rubitherm Technologies GmbH
- PCM Products Ltd.
- PureTemp LLC.
