North America Phase Change Materials Market

North America Phase Change Materials Market Analysis

The North America Phase Change Materials Market size is estimated at USD 418.43 million in 2025, and is expected to reach USD 643.81 million by 2030, at a CAGR of 9% during the forecast period (2025-2030).

The phase change materials market was disrupted due to COVID-19 in North America. 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. Post-pandemic, there was a renewed emphasis on sustainable practices and energy efficiency in building design. PCMs, known for their ability to regulate temperature and reduce energy consumption in HVAC systems, gained renewed attention, driving market recovery.

Increasing focus on sustainability and energy conservation in building and construction and growing demand from the electronics industry are expected to drive the phase change materials market in North America.

However, the hazardous nature of several phase change materials is expected to restrain the market studied.

The development of phase change thermal interface material and rising awareness of bio-based phase change materials are expected to provide opportunities to market players for the market studied.

The United States is likely to dominate the market during the forecast period.

North America Phase Change Materials Market Trends

Building and Construction Industry to Dominate the Market

• The rising emphasis on green building and energy conservation boosted the demand for highly effective and novel construction materials. As a result, phase change materials are employed in several applications, such as under-floor electric heating systems, PCM-filled glass windows, and thermally efficient concrete.
• Thermal comfort in buildings is where PCM is primarily used. PCM can regulate temperature and reduce heat gain or loss via building walls. The market for phase change materials is growing due to the growing usage of these materials in building products, including wallboards, roofing, concrete, and polymers like polyolefin elastomers and polypropylene to increase thermal efficiency.
• According to Statistics Canada, in November 2023, the value of building construction increased by 1.7% to USD 19.8 billion. The housing sector grew by 2.2% to USD 13.7 billion, while investments in the nonresidential sector increased by 0.1% to USD 6.1 billion in 2023.
• According to StatCan and Canada Mortgage and Housing Corporation, in Canada, there was a lower number of new home-building projects in 2022 compared with the previous year. Overall, there has been an increase in the number of housing starts since 2013.
• Moreover, according to the US Census Bureau, the value of total new infrastructure construction in the U.S. increased from USD 299.94 billion in 2017 to USD 365.59 billion in 2023.
• With all the above factors, the demand for phase change material is expected to increase in the forecasted period in North America.

The United States 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 optimize heating, ventilation, and air conditioning systems, leading to more efficient energy utilization in buildings.
• The emphasis on sustainable and green building practices in North America has driven the adoption of phase change materials as part of energy-efficient solutions to meet environmental standards.
• According to the U.S. Census Bureau, residential construction spending in the United States increased in early 2022 to USD 939.17 billion.
• The construction spending in the United States in the private sector continued to grow in 2022 and reached USD 1,429.2 billion.
• Moreover, in the coming years, according to the forecast, the value of US construction projects will continue to grow. Building costs in most of the United States' largest cities increased between 2016 and 2022, with some cases increasing by almost 50 percent during this period.
• According to the Bureau of Economic Analysis (BEA), the value added to gross domestic products by the construction industry in the United States increased from USD 695.32 billion in 2015 to USD 1,007.01 billion in 2022.
• With all the above factors, the demand for phase change material is expected to increase at a moderate pace in the forecasted period in the United States.

North America Phase Change Materials Industry Overview

North America's phase change materials 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.

North America Phase Change Materials Market Leaders

North America Phase Change Materials 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 that include large, thin, delicate die.

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.