PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1643643
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1643643
The global phase change materials (PCM) market is projected to grow from USD 690.9 million in 2024 to USD 2,150.2 million by 2032, reflecting a compound annual growth rate (CAGR) of 15.4% during 2025-2032. This growth is driven by the increasing focus on sustainable building practices, energy conservation efforts, and advancements in PCM technology that enhance energy efficiency and reduce greenhouse gas emissions.
Key Insights
The adoption of PCMs in green construction is rising as they help regulate indoor temperatures, reducing reliance on heating and cooling systems and improving energy efficiency.
Expansion in the construction sector, particularly in developing regions, and growing demand for temperature-sensitive packaging solutions are contributing to increased PCM usage.
PCMs address energy conservation challenges by storing and reusing thermal energy, particularly in heating applications, which constitute a significant portion of global energy demand.
Technological advancements are driving the development of advanced PCMs with improved thermal properties, making them more efficient and cost-effective for a wide range of applications.
Europe holds the largest market share due to stringent energy efficiency regulations and the widespread adoption of green building standards. The Asia-Pacific region is expected to experience the fastest growth, fueled by rapid urbanization, industrialization, and increasing awareness of energy conservation measures.