Top Phase Change Material Companies

Global Phase Change Material Market size was valued at USD 5.62 Billion in 2024 and is poised to grow from USD 6.49 Billion in 2025 to USD 20.4 Billion by 2033, growing at a CAGR of 15.4% during the forecast period (2026–2033).

Key players in the global phase change material market are investing in research and development activities to stay ahead in the competition. They are adopting various strategies such as mergers & acquisitions, collaborations, and expanding product portfolios. 'BASF SE (Germany) ', 'Honeywell International Inc. (USA) ', 'Dow Inc. (USA) ', 'Microtek Laboratories Inc. (USA) ', 'Climator Sweden AB (Sweden) ', 'Rubitherm Technologies GmbH (Germany) ', 'PCM Products, Inc. (USA) ', 'Phase Change Energy Solutions, Inc. (USA) ', 'Laird Thermal Systems (USA) ', 'Salca SA (Belgium) ', 'Outlast Technologies LLC (USA) ', 'HPC Hamburg GmbH (Germany) ', 'PureTemp LLC (USA) ', 'TesTex, Inc. (USA) ', 'Toshiba Corporation (Japan) ', 'Jiangsu Heshan New Energy Co., Ltd. (China) ', 'Fujifilm Corporation (Japan) ', 'XIXO Group (Germany) ', 'Ben & Ben PCMs (Canada) ', 'Phase Change Materials Ltd. (UK)'

Ongoing advancements in materials science and engineering have led to the development of more efficient and cost-effective phase change materials. These innovations have expanded their applications across various industries, spurring demand.

The building and construction industry is set to become a dominant force in the market, fueled by the increasing focus on environmentally friendly construction and energy conservation. This emphasis has led to a rising demand for innovative and highly effective construction materials. Phase change materials (PCM) have emerged as a valuable solution, finding applications in various areas, including under-floor electric heating systems, PCM-filled glass windows, and thermally efficient concrete.

In recent times, significant technological advancements have propelled the European market to the forefront of the global phase change materials (PCM) industry, with North America following closely behind. This industry is witnessing consolidation as various businesses prioritize research and development to explore innovative applications. A pivotal role in driving progress is played by a non-profit organization established in Germany, which fosters cooperation between industries to enhance the phase change materials business worldwide. Key end-users in the European market, including healthcare, aerospace, and automotive sectors, are experiencing a surge in demand for phase change materials. The well-developed manufacturing sector in Europe, with Germany as its leading manufacturer and exporter of PCM, has been instrumental in sustaining Europe's dominance in this industry. As a result, these businesses aspire to achieve significant market share in the phase transition materials sector in the coming years. This stability is projected to persist in the European market for phase change materials.