The Global Phase Change Material (PCM) Market was valued at USD 1.08 Billion in 2022 and is projected to reach USD 2.33 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 11.7% during the forecast period (2024–2029). This growth is being driven by increasing demand for energy-efficient solutions in construction, refrigeration, and electronics cooling applications, coupled with tightening thermal management regulations worldwide.

As industries transition toward sustainable temperature control solutions, PCMs are emerging as a game-changer for latent heat storage applications. In this blog, we profile the Top 10 Companies in the Phase Change Material Industry—innovators driving material science advancements across organic, inorganic, and bio-based PCM technologies.

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🔟 1. Henkel AG & Co. KGaA

Headquarters: Düsseldorf, Germany
Key Offering: Thermal Interface Materials (TIMs) with PCM technology

Henkel leads the global PCM market with a 17% revenue share, specializing in advanced thermal management solutions for electronics. Their Bergquist brand PCM products enable precise temperature regulation in automotive and industrial applications.

Innovation Highlights:

• Patented microencapsulated PCM formulations
• Automotive battery thermal management systems
• Global R&D network with 6 PCM-focused facilities

Download FREE Sample Report:
Phase Change Material (PCM) Market – View in Detailed Research Report

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9️⃣ 2. Honeywell International Inc.

Headquarters: Charlotte, North Carolina, USA
Key Offering: Inorganic salt hydrate PCMs

Honeywell’s engineered phase change materials serve critical applications in building climate control and cold chain logistics. Their THERMACIERGY inorganic PCM portfolio achieves 180+ J/g latent heat capacity.

Innovation Highlights:

• Non-flammable PCM formulations
• Integration with HVAC systems
• US DOE-approved building efficiency solutions

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8️⃣ 3. Croda International Plc

Headquarters: Snaith, United Kingdom
Key Offering: Bio-based PCMs

Croda’s sustainable INUTEC PCMs leverage plant-derived ingredients for temperature regulation in textiles and consumer products. Their phase change materials are fully REACH and USDA BioPreferred certified.

Innovation Highlights:

• 100% biobased PCM emulsions
• Textile integration technologies
• Carbon-negative production processes

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7️⃣ 4. Sasol Germany GmbH

Headquarters: Hamburg, Germany
Key Offering: Paraffin-based organic PCMs

Sasol specializes in high-purity paraffin PCMs with phase transition temperatures from -15°C to 100°C. Their materials serve demanding applications in medical cold chain and electronics cooling.

Innovation Highlights:

• PP-compatible PCM masterbatches
• Pharmaceutical-grade temperature control
• Custom phase transition formulations

Download FREE Sample Report:
Phase Change Material (PCM) Market – View in Detailed Research Report

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6️⃣ 5. Microtek Laboratories Inc.

Headquarters: Dayton, Ohio, USA
Key Offering: Microencapsulated PCMs

Microtek pioneers PCM microencapsulation technologies, with over 200 patent filings. Their MicroPCM products enable integration into coatings, composites, and smart textiles.

Innovation Highlights:

• 3-50 micron particle size control
• Military-grade thermal regulation
• NASA-approved space applications

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5️⃣ 6. DuPont de Nemours, Inc.

Headquarters: Wilmington, Delaware, USA
Key Offering: Polymer-PCM composites

DuPont’s Energain materials combine PCM technology with structural polymers for building envelope applications. Their panels demonstrate 10x thermal mass compared to concrete.

Innovation Highlights:

• LEED-certified construction materials
• Phase change drywall innovations
• Cool roof integration systems

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4️⃣ 7. Phase Change Energy Solutions

Headquarters: Asheboro, North Carolina, USA
Key Offering: BioPCM formulations

This pure-play PCM company developed the first commercially viable bio-based phase change materials. Their vegetable oil-derived solutions serve data center cooling and passive building applications.

Innovation Highlights:

• Cradle-to-cradle certified materials
• 50+ phase temperature formulations
• Patented containment systems

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3️⃣ 8. Rubitherm Technologies GmbH

Headquarters: Berlin, Germany
Key Offering: Salt hydrate and paraffin PCMs

Rubitherm’s RT series offers the industry’s widest operating temperature range (-30°C to 120°C). The company supplies standardized and custom PCM solutions to 80+ countries.

Innovation Highlights:

• Macro-encapsulation systems
• Thermal storage modules
• Phase separation prevention tech

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2️⃣ 9. PLUSS Advanced Technologies

Headquarters: Gurugram, India
Key Offering: Nanocomposite PCMs

PLUSS Cropharma cold chain solutions leverage nanotechnology to enhance PCM thermal conductivity. Their products maintain precise temperatures for up to 100 hours without external power.

Innovation Highlights:

• Graphene-enhanced PCMs
• Vaccine transportation systems
• Active temperature monitoring

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1️⃣ 10. Outlast Technologies LLC

Headquarters: Boulder, Colorado, USA
Key Offering: Textile-embedded PCMs

Outlast pioneers temperature-regulating fabrics incorporating microencapsulated PCMs. Their technology serves 300+ apparel brands and NASA spacesuit liners.

Innovation Highlights:

• Wash-resistant microcapsules
• Adaptive cooling fabrics
• First commercial PCM textiles

Get Full Report Here:
Phase Change Material (PCM) Market – View in Detailed Research Report

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🌡 Outlook: The Future of PCMs Is Smarter and More Sustainable

The phase change material market is undergoing transformational growth as industries address thermal management challenges through advanced material science. While paraffin PCMs still dominate, emerging bio-based alternatives are gaining traction through regulatory support and sustainability commitments.

📈 Key Trends Shaping the PCM Market:

• Growing adoption in electric vehicle battery thermal management
• Stringent building energy codes driving construction applications
• Convergence with IoT for smart temperature regulation
• Increasing R&D in nano-enhanced PCM formulations

Get Full Report Here:
Phase Change Material (PCM) Market – View in Detailed Research Report

The companies profiled above are not just supplying materials—they’re enabling the transition to energy-efficient thermal management across industries.