The phase change materials market was worth US$ 2.1 billion in 2019 and is expected to reach US$ 10.3 billion by 2030, growing at a CAGR of 19.5% through 2030.
PCM is also known as phase change material. These are materials whose phase shift is mostly used for storing and releasing heat, from solid to liquid and liquid to solid. In PCMs, energy is saved at a later time for use. A phase change material (PCM) is a product that at phase transition, releases/absorbs enough energy to provide usable heat/cooling. The transformation from one of the first two basic states of matter - solid and liquid - to the other would usually take place. There can also be a phase transition between non-classical states of matter, such as crystal conformity, where the substance goes from conforming to one crystalline structure to conforming to another, which may have a higher or lower state of energy. In several specific commercial applications where energy storage and/or stable temperatures are needed, phase change materials are used, including, among others, heating pads, cooling for telephone switching boxes, and others.
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