Market Size of Europe Phase Change Material Industry
| 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 |
Need a report that reflects how COVID-19 has impacted this market and its growth?
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.
