Europe Phase Change Material Market Size
| Study Period | 2019-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 392.74 Million |
| Market Size (2029) | USD 615.73 Million |
| CAGR (2024 - 2029) | 9.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Phase Change Material Market Analysis
The Europe Phase Change Material Market size is estimated at USD 392.74 million in 2024, and is expected to reach USD 615.73 million by 2029, growing at a CAGR of 9% during the forecast period (2024-2029).
The COVID-19 disrupted the phase change materials market in Europe. Lockdowns, restrictions, and disruptions in transportation networks led to challenges in the supply chain. This affected the availability of raw materials and components for PCM manufacturing. However, as lockdowns eased and construction activities resumed, there was a renewed demand for PCM in the construction industry.
Increasing focus on green construction and increasing construction of energy-efficient buildings in Europe are expected to drive the phase change materials market in Europe.
On the flip side, high initial costs and the availability of alternatives restrain the phase change materials market in Europe.
Furthermore, innovations in product development and a growing emphasis on green building certification programs in Europe are expected to provide opportunities to market players for the market studied.
Germany is likely to dominate the market during the forecast period.
Europe Phase Change Material Market Trends
Building and Construction Industry to Dominate the Market
- Phase change materials have extensive applications in the construction industry for thermal energy storage and regulation, contributing to energy-efficient and sustainable building designs.
- Phase change materials contribute to optimizing heating, ventilation, and air conditioning systems, leading to more efficient energy utilization in buildings.
- The emphasis on sustainable and green building practices in Europe has driven the adoption of phase change materials as part of energy-efficient solutions to meet environmental standards.
- In Europe, according to the European Construction Industry Federation (FIEC), investment in the non-residential buildings construction segment increased by 2.1% in 2022.
- According to the Federal Statistical Office (Destatis), the sales volume of the construction industry in Germany increased by 9.0 % in November 2023.
- Moreover, according to the Office for National Statistics (UK), the Gross value added (GVA) of the construction industry in the United Kingdom was GBP 29.26 billion (USD 37.18 billion) in the 1st quarter of 2021, which then increased to GBP 37.63 billion (USD 47.82 billion) in the 1st quarter of 2023.
- All the above factors are expected to significantly impact the demand for food-grade calcium peroxide during the forecast period.
Germany to Dominate the Market
- Germany's construction sector is one of the largest economic sectors, with products such as buildings and roads being an essential part of our daily lives.
- According to Statistisches Bundesamt, the revenue of the building construction industry in Germany increased from Euro 36.28 billion (USD 39.20 billion) in 2018 to Euro 42.99 billion (USD 46.45 billion) in 2022.
- According to the Federal Statistical Office (Destatis), the annual average number of construction companies in Germany increased from 8,121 units in 2017 to 9,456 units in 2022.
- The annual average number of active people in the building and construction sector also increased from 4,420 in 2017 to 5,264 in 2022.
- The building permits for the construction of new buildings (residential and non-residential) in Germany was 2,183 number of buildings in January 2022.
- All the aforementioned factors are expected to increase the demand for calcium peroxide in the region during the forecast period.
Europe Phase Change Material Industry Overview
Europe's phase change material market is partially fragmented in nature. The major players (not in any particular order) include Henkel AG & Co.KGaA, Croda International Plc, Cryopak, Parker Hannifin Corp, and Pluss Advanced Technologies, among others.
Europe Phase Change Material Market Leaders
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Henkel AG & Co.KGaA
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Croda International Plc
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Cryopak
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PARKER HANNIFIN CORP
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Pluss Advanced Technologies
*Disclaimer: Major Players sorted in no particular order
Europe Phase Change Material Market News
May 2023: Henkel launched phase change material - Bergquist Hi Flow THF 5000UT. This material provides low thermal impedance at both ultra-low and higher pressure. It is used to avoid stress-induced defects in certain devices, including large, thin, delicate dies.
March 2023: BioLife Solutions Launches Ultraguard™ -70°C Phase Change Material (PCM) Accessory to Provide Backup Cooling in ULT Freezers and Dry Ice Alternative for Benchtop Biologic Material Storage.
Europe Phase Change Material Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Focus on Green Construction
- 4.1.2 Increasing Construction of Energy-Efficient Buildings
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4.2 Restraints
- 4.2.1 High Initial Costs
- 4.2.2 Availability of Alternatives
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Type
- 5.1.1 Inorganic
- 5.1.2 Organic
- 5.1.3 Bio-Based
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5.2 End-User Industry
- 5.2.1 Building and Construction
- 5.2.2 HVAC Systems
- 5.2.3 Textiles
- 5.2.4 Electronics
- 5.2.5 Transportation
- 5.2.6 Cold Chain Logistics
- 5.2.7 Other End-User Industries (Energy Storage, Medical Industry)
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5.3 Geography
- 5.3.1 France
- 5.3.2 Germany
- 5.3.3 Italy
- 5.3.4 NORDIC
- 5.3.5 Russia
- 5.3.6 Spain
- 5.3.7 Turkey
- 5.3.8 United Kingdom
- 5.3.9 Rest of Europe
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 AXIOTHERM GmbH
- 6.4.2 BioLife Solutions Inc.,
- 6.4.3 Croda International Plc
- 6.4.4 Cryopak
- 6.4.5 European Thermodynamics Ltd.
- 6.4.6 Henkel AG & Co.KGaA
- 6.4.7 Laird Technologies, Inc.
- 6.4.8 MTC Micro Tech Components GmbH
- 6.4.9 PARKER HANNIFIN CORP
- 6.4.10 Phase Energy Ltd
- 6.4.11 Pluss Advanced Technologies
- 6.4.12 Rubitherm Technologies GmbH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Innovations in Product Development
- 7.2 Growing Emphasis on Green Building Certification Programs
Europe Phase Change Material Industry Segmentation
Phase change materials are substances that can store and release thermal energy during the process of changing from one phase to another, typically from solid to liquid and vice versa. This phase transition occurs at a specific temperature known as the material's melting or freezing point. It has various applications, such as thermal regulation in buildings, energy storage, and temperature control in industries like electronics and transportation.
Europe's phase change material market is segmented on the basis of type, end-user industry, and geography (France, Germany, Italy, NORDIC, Russia, Spain, Turkey, United Kingdom, and Rest of Europe). Based on type, the market is segmented into inorganic, organic, and bio-based. Based on the end-user industry, the market is segmented into building and construction, HVAC systems, textiles, electronics, transportation, cold chain logistics, and other end-user industries (energy storage, medical industry). The report also covers the market size and forecasts for the Europe phase change materials market in 8 countries across the Europe region.
For each segment, the market sizing and forecasts have been done on the basis of value (USD).
| Type | Inorganic |
| Organic | |
| Bio-Based | |
| End-User Industry | Building and Construction |
| HVAC Systems | |
| Textiles | |
| Electronics | |
| Transportation | |
| Cold Chain Logistics | |
| Other End-User Industries (Energy Storage, Medical Industry) | |
| Geography | France |
| Germany | |
| Italy | |
| NORDIC | |
| Russia | |
| Spain | |
| Turkey | |
| United Kingdom | |
| Rest of Europe |
Europe Phase Change Material Market Research FAQs
How big is the Europe Phase Change Material Market?
The Europe Phase Change Material Market size is expected to reach USD 392.74 million in 2024 and grow at a CAGR of 9% to reach USD 615.73 million by 2029.
What is the current Europe Phase Change Material Market size?
In 2024, the Europe Phase Change Material Market size is expected to reach USD 392.74 million.
Who are the key players in Europe Phase Change Material Market?
Henkel AG & Co.KGaA, Croda International Plc, Cryopak, PARKER HANNIFIN CORP and Pluss Advanced Technologies are the major companies operating in the Europe Phase Change Material Market.
What years does this Europe Phase Change Material Market cover, and what was the market size in 2023?
In 2023, the Europe Phase Change Material Market size was estimated at USD 357.39 million. The report covers the Europe Phase Change Material Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Europe Phase Change Material Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Europe Phase Change Material Industry Report
Statistics for the 2024 Europe Phase Change Material market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Europe Phase Change Material analysis includes a market forecast outlook for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
