Phase Change Material Market is anticipated to grow at a CAGR of 16.1% during 2024-2030

The global phase change material market is projected to reach $1.5 billion by 2030, at a CAGR of 16.1% during 2024-2030. The growth of phase change material market is driven by growth in the construction industry, increasing demand for thermal packaging, and strict regulations for reducing carbon footprints.

Some of the Key Questions answered in this exclusive report are:

Q.1 What are some of the most promising, high-growth opportunities for the phase change material market by product form (organic, inorganic, and bio-based and others), end use industry (building and construction, HVAC, cold chain and packaging, thermal energy storage, electronics, textile, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 What are the business risks and threats to the phase change material market?

Q.4 What are some changing demands of customers in the phase change material market?

Q.5 What are the new developments in the phase change material market? Which companies are leading these developments?

Q.6 What strategic initiatives are being implemented by key players for business growth?

Q.7 What are some of the competitive products and processes in this phase change material area and how big of a threat do they pose for loss of market share via product substitution?

Q.8 What M&A activity has occurred in the last 5 years in this phase change material market?

Market Segmentation:

Based on product form, the phase change material market is segmented into organic, inorganic, and bio-based and others. The organic segment accounted for the largest share of the market in 2024 and is expected to register the highest CAGR during the forecast period, due to the growing usage of paraffin waxes for electronics thermal management.

Europe is expected to be the largest region with the highest growth over the forecast period due to increasing demand from green building construction and development in the region.

Key Players in the phase change material market are Honeywell, DuPont, Sasol, Croda, PureTemp, Pluss Advanced Technologies, Phase Change Energy Solutions, Rubitherm Technologies, Phase Change Materials Products, and Outlast Technologies.

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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries.

Roy Almaguer
Dallas, Texas, USA
Tel. 972.636.5056

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