Phase Change Materials Market growing at at CAGR of 17.42% by 2031, Asia-Pacific Fastest Growing | Says Mordor Intelligence

According to Mordor intelligence, the phase change materials market size is expected to grow from $ 1.08 billion in 2026 to $ 2.41 billion by 2031, at a CAGR of 17.42 %.

Phase change materials (PCMs) absorb and release thermal energy during phase transitions, making them vital for applications in construction, packaging, textiles, electronics, and transportation.

Phase Change Materials Emerging Trends 2026

Government Incentives for Net-Zero Buildings Boosting Adoption of Bio-Based PCMs

Governments across Europe, North America, and parts of Asia are actively promoting net-zero building initiatives through subsidies, tax benefits, and stricter energy codes. These policies are encouraging developers and construction companies to integrate sustainable materials into new projects.

Asia-Pacific Growth Supported by Large-Scale Construction

The Asia-Pacific region is emerging as the fastest-growing market for phase change materials, driven by rapid urbanization and infrastructure development. Countries such as China, India, and Southeast Asian nations are investing heavily in residential, commercial, and industrial construction projects.

Explore Regional Market Dynamics with Customized Editions, Including Japan: https://www.mordorintelligence.com/ja/industry-reports/phase-change-materials-market?utm_source=industrytoday

Phase Change Materials Market Segmentation

By Product Type

• Organic PCMs (largest share, 43.62% in 2025)
• Inorganic PCMs
• Bio-based PCMs (fastest growth, 18.90% CAGR through 2031)

By Chemical Composition

• Paraffin (largest share, 41.02% in 2025)
• Non-paraffin hydrocarbons
• Salt hydrates (fastest growth, 17.76% CAGR)
• Eutectics

By Encapsulation Technology

• Macro-encapsulation (65.20% share in 2025)
• Micro-encapsulation (fastest growth, 18.31% CAGR)
• Molecular encapsulation

By End-User Industry

• Building and construction (largest share, 39.10% in 2025)
• Packaging
• Textiles
• Electronics
• Transportation
• Other industries (healthcare, defense)

By Geography

• Europe (largest market share, 32.40% in 2025)
• Asia-Pacific (fastest growth, 18.55% CAGR through 2031)
• North America
• South America
• Middle East & Africa

Top Key Players in Phase Change Materials Market

• BASF
• Croda International Plc
• Henkel AG & Co. KGaA
• Honeywell International Inc.
• PureTemp LLC
• Other notable companies: Pluss Advanced Technologies, Phase Change Solutions, Rubitherm Technologies GmbH, Outlast Technologies GmbH, DuPont, Cryopak, and Shin-Etsu Chemical Co. Ltd.

Explore Competitive Landscape Details: https://www.mordorintelligence.com/industry-reports/phase-change-materials-market/companies?utm_source=industrytoday

Dominating Country

Europe continues to hold a leading position in the Phase Change Materials Market, supported by strong regulatory frameworks that emphasize energy-efficient construction and renovation.

The European Union’s building directives have encouraged widespread adoption of PCMs in insulation and wallboard applications, helping countries such as Germany, Sweden, and Spain achieve measurable energy savings in heating and cooling systems. Clear policies, combined with incentives for sustainable construction and carbon reduction, reinforce Europe’s dominance in the market. At the same time, Asia-Pacific is emerging as the fastest-growing region, driven by rapid urban development and expanding demand for energy-efficient solutions.

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