The Global Paraffin Phase Change Material (PCM) Market was valued at USD 250 Million in 2023 and is projected to reach USD 650 Million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 14.5% during the forecast period (2023–2030). This growth is being driven by rising demand for energy-efficient thermal management in buildings, electronics, and automotive sectors, advancements in sustainable materials, and increasing adoption of PCMs in renewable energy storage and cold chain applications.

As industries worldwide prioritize energy conservation and sustainability, phase change materials like paraffin-based PCMs are gaining prominence for their ability to store and release thermal energy efficiently. In this blog, we profile the Top 10 Companies in the Paraffin Phase Change Material (PCM) Industry—a blend of specialized manufacturers, chemical giants, and innovators leading the charge in thermal regulation technologies for a greener future.

---

🔟 1. RAHA Paraffin

Headquarters: Tehran, Iran
Key Offering: Paraffin waxes for PCM applications, microencapsulated paraffin PCMs

RAHA Paraffin stands out as a major producer of high-purity paraffin waxes tailored for phase change material uses, supplying industries from construction to textiles. Their products are widely utilized in building envelopes for passive cooling and in protective clothing for temperature regulation, ensuring reliability in diverse thermal environments.

Innovation Initiatives:

• Development of bio-based paraffin alternatives
• Partnerships with construction firms for energy-efficient facades
• Focus on expanding production capacity to meet global demand

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

---

9️⃣ 2. Boyd Corporation

Headquarters: Pleasanton, California, USA
Key Offering: Thermal management solutions including paraffin PCMs for electronics

Boyd Corporation excels in integrating paraffin PCMs into advanced cooling systems for high-performance electronics and data centers. Their expertise lies in customizing PCM formulations to handle extreme temperature fluctuations, supporting the miniaturization trends in consumer devices and telecommunications equipment.

Innovation Initiatives:

• Research into hybrid PCM composites for enhanced heat dissipation
• Collaborations with tech giants to optimize battery thermal control

---

8️⃣ 3. Tempered Entropy

Headquarters: Victoria, British Columbia, Canada
Key Offering: Shape-stabilized paraffin PCMs for building and industrial uses

Tempered Entropy specializes in developing stable paraffin PCMs that prevent leakage, making them ideal for integration into walls, floors, and HVAC systems. Their solutions help reduce energy consumption in commercial buildings by up to 30%, contributing to greener urban infrastructure.

Innovation Initiatives:

• Patented encapsulation technologies for long-term durability
• Projects focused on PCM applications in sustainable housing

---

7️⃣ 4. Andor

Headquarters: Staffordshire, United Kingdom
Key Offering: Paraffin-based PCMs for cold chain and packaging

Andor is a key player in providing paraffin PCMs for temperature-sensitive logistics, particularly in pharmaceuticals and food transportation. Their products maintain consistent temperatures during shipping, minimizing spoilage and ensuring product integrity across global supply chains.

Innovation Initiatives:

• Advancements in reusable PCM packs for eco-friendly logistics
• Expansion into medical cooling applications

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

---

6️⃣ 5. IRM

Headquarters: Luton, United Kingdom
Key Offering: Microencapsulated paraffin PCMs for textiles and garments

IRM leads in incorporating paraffin PCMs into fabrics for smart clothing that regulates body temperature, beneficial for athletes and outdoor workers. This technology enhances comfort and performance by absorbing excess heat during activity and releasing it when needed.

Innovation Initiatives:

• Integration of PCMs with wearable tech for health monitoring
• Sustainable sourcing of paraffin materials

---

5️⃣ 6. Sasol Germany GmbH

Headquarters: Hamburg, Germany
Key Offering: High-grade paraffin waxes and PCM formulations for energy storage

Sasol Germany GmbH is renowned for its chemical expertise in producing paraffin PCMs used in solar thermal systems and battery cooling. Their materials support the shift toward renewable energy by improving efficiency in heat storage applications.

Innovation Initiatives:

• Current production capacity exceeding 500,000 tons annually for PCM-related products
• Target to double renewable energy integrations by 2027

---

4️⃣ 7. Jiandao Electronics

Headquarters: Dongguan, China
Key Offering: Paraffin PCMs for electronic cooling in consumer devices

Jiandao Electronics focuses on paraffin-based solutions for thermal management in smartphones, laptops, and EVs. Their compact PCM designs prevent overheating, extending device lifespan and enhancing user experience in fast-paced tech markets.

Innovation Initiatives:

• R&D in nanoscale paraffin encapsulation
• Partnerships with automotive manufacturers for EV battery stability

---

3️⃣ 8. Mikiriken Industrial

Headquarters: Osaka, Japan
Key Offering: Advanced paraffin PCMs for automotive and industrial applications

Mikiriken Industrial delivers paraffin PCMs that optimize temperature control in vehicle cabins and machinery, reducing energy use in air conditioning systems. Their contributions are vital for meeting stringent emission standards in the auto sector.

Innovation Initiatives:

• Collaborative developments in hybrid vehicle thermal systems
• Focus on lightweight PCM composites

---

2️⃣ 9. Shantai Energy Saving

Headquarters: Shanghai, China
Key Offering: Paraffin PCM panels for building energy efficiency

Shantai Energy Saving pioneers paraffin-infused materials for walls and roofs, helping structures maintain comfortable indoor climates without excessive heating or cooling. This approach aligns with global pushes for net-zero buildings.

Innovation Initiatives:

• Aims to supply PCM solutions for 1 million square meters of buildings by 2025
• Integration with smart building IoT systems

---

1️⃣ 10. Croda International Plc

Headquarters: Goole, United Kingdom
Key Offering: Specialty paraffin PCMs for personal care, food, and medical industries

Croda leads with versatile paraffin PCM applications in product stabilization, from cosmetics that maintain texture to medical devices requiring precise temperature control. Their global reach ensures high-quality standards across multiple sectors.

Innovation Initiatives:

• End-to-end solutions for sustainable packaging
• Strategic alliances with healthcare providers

Read Full Report: Paraffin Phase Change Material (PCM) Market – View in Detailed Research Report

---

🌍 Outlook: The Future of Paraffin PCM Is Smarter and More Sustainable

The paraffin phase change material market is evolving rapidly. While traditional applications dominate, investments in advanced encapsulation and bio-derived paraffins are opening new avenues for efficiency and environmental benefits.

📈 Key Trends Shaping the Market:

• Expansion of shape-stabilized and microencapsulated PCM technologies in Asia and Europe
• Regulatory incentives for energy-saving materials in construction and automotive
• Digital modeling for PCM optimization in supply chains
• Industry collaborations for bio-paraffin development

Read Full Report: Paraffin Phase Change Material (PCM) Market – View in Detailed Research Report

The companies listed above are not only advancing thermal management—they’re pioneering the sustainable energy revolution across industries.

This comprehensive overview draws from extensive market research, highlighting how these leaders are positioned to capitalize on the growing need for efficient, eco-friendly thermal solutions. As demand surges in sectors like architecture, where PCMs can cut cooling costs by 20-40%, and electronics, where overheating remains a challenge, these firms are at the forefront. Furthermore, the shift toward microencapsulated variants addresses leakage concerns, enabling broader adoption in garments and packaging. In the energy industry, paraffin PCMs enhance solar storage systems, storing heat during peak sunlight and releasing it at night, thus stabilizing renewable outputs. Challenges such as raw material volatility persist, but innovations in recycling and synthetic alternatives are mitigating risks. Overall, the market’s trajectory points to robust growth, with North America and Asia leading regional expansions due to stringent energy regulations and rapid industrialization.

Looking deeper into applications, the architecture segment holds the largest share, driven by green building certifications like LEED that favor PCM-integrated materials. In the garment industry, PCMs are revolutionizing sportswear, providing adaptive cooling for marathon runners or firefighters. Electronics benefits from precise temperature control in LEDs and servers, preventing performance degradation. The auto industry leverages PCMs for cabin comfort and battery thermal runaway prevention in EVs, aligning with the global electric vehicle boom. Food and medical sectors rely on reliable cold chains, where paraffin PCMs ensure vaccines and perishables arrive intact. Even in packaging, these materials reduce reliance on single-use ice packs, promoting sustainability. Regionally, Europe’s focus on energy efficiency post-energy crisis has boosted demand, while China’s manufacturing prowess accelerates production scales.

Competitive dynamics reveal a fragmented yet innovative landscape, with top players investing in R&D to differentiate products. For instance, shape-stabilized PCMs, which embed paraffin in supportive matrices, are gaining traction for their stability, projected to grow faster than traditional forms. Sales volumes have steadily increased, from approximately 50,000 tons in 2018 to over 100,000 tons by 2023, reflecting broader acceptance. Revenue shares indicate consolidation among leaders, but opportunities abound for niche entrants in emerging markets like India and Brazil. Policy support, including subsidies for energy-saving tech, further propels the sector. However, supply chain disruptions from geopolitical tensions have prompted diversification efforts. In conclusion, paraffin PCMs are indispensable for a low-carbon economy, with these top companies driving the innovation needed to unlock their full potential.

This report aims to provide a comprehensive presentation of the global market for Paraffin Phase Change Material (PCM), with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Paraffin Phase Change Material (PCM). This report contains market size and forecasts of Paraffin Phase Change Material (PCM) in global, including the following market information:

• Global Paraffin Phase Change Material (PCM) Market Revenue, 2018-2023, 2024-2030, ($ millions)
• Global Paraffin Phase Change Material (PCM) Market Sales, 2018-2023, 2024-2030, (Tons)

Global top five Paraffin Phase Change Material (PCM) companies in 2022 (%).
The global Paraffin Phase Change Material (PCM) market was valued at US$ 250 million in 2023 and is projected to reach US$ 650 million by 2030, at a CAGR of 14.5% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
The U.S. Market is Estimated at $ 80 Million in 2023, While China is Forecast to Reach $ 150 Million.
Shape-stabilized PCM Segment to Reach $ 300 Million by 2030, with a 15% CAGR in next six years.
The global key manufacturers of Paraffin Phase Change Material (PCM) include RAHA Paraffin, Boyd Corporation, Tempered Entropy, Andor, IRM, Sasol Germany GmbH, Jiandao Electronics, Mikiriken Industrial and Shantai Energy Saving, etc. in 2023, the global top five players have a share approximately 45% in terms of revenue.
We surveyed the Paraffin Phase Change Material (PCM) manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.

Total Market by Segment:

• Shape-stabilized PCM
• Microencapsulated PCM

• Architecture
• Garment Industry
• Electronics Industry
• Energy Industry
• Packaging Industry
• Auto Industry
• Food Industry
• Medical Industry
• Other

• North America
• US
• Canada
• Mexico
• Europe
• Germany
• France
• U.K.
• Italy
• Russia
• Nordic Countries
• Benelux
• Rest of Europe
• Asia
• China
• Japan
• South Korea
• Southeast Asia
• India
• Rest of Asia
• South America
• Brazil
• Argentina
• Rest of South America
• Middle East & Africa
• Turkey
• Israel
• Saudi Arabia
• UAE
• Rest of Middle East & Africa

Competitor Analysis

• The report also provides analysis of leading market participants including:
• Key companies Paraffin Phase Change Material (PCM) revenues in global market, 2018-2023 (Estimated), ($ millions)
• Key companies Paraffin Phase Change Material (PCM) revenues share in global market, 2022 (%)
• Key companies Paraffin Phase Change Material (PCM) sales in global market, 2018-2023 (Estimated), (Tons)
• Key companies Paraffin Phase Change Material (PCM) sales share in global market, 2022 (%)

Key players include:

• RAHA Paraffin
• Boyd Corporation
• Tempered Entropy
• Andor
• IRM
• Sasol Germany GmbH
• Jiandao Electronics
• Mikiriken Industrial
• Shantai Energy Saving
• Croda
• Joule Wax

Outline of Major Chapters:
Chapter 1: Introduces the definition of Paraffin Phase Change Material (PCM), market overview.
Chapter 2: Global Paraffin Phase Change Material (PCM) market size in revenue and volume.
Chapter 3: Detailed analysis of Paraffin Phase Change Material (PCM) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides the analysis of various market segments by type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 5: Provides the analysis of various market segments by application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 6: Sales of Paraffin Phase Change Material (PCM) in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space of each country in the world.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 8: Global Paraffin Phase Change Material (PCM) capacity by region & country.
Chapter 9: Introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 10: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 11: The main points and conclusions of the report.