1 EXECUTIVE SUMMARY 9

1.1 What are Phase change materials (PCMs)? 9

1.2 Markets 9

1.3 Market drivers 11

1.4 Properties of Phase Change Materials (PCMs) 11

1.5 Phase change materials (PCM) drawbacks 12

1.6 Global revenues, 2019-2031 13

1.6.1 By type 13

1.6.2 By market 14

2 INTRODUCTION 19

2.1 Thermal energy storage (TES) 19

2.1.1 Sensible heat storage 19

2.1.2 Latent heat storage 20

2.2 Phase change materials 20

2.2.1 Organic/biobased phase change materials 22

2.2.1.1 Advantages and disadvantages 22

2.2.1.2 Paraffin wax 22

2.2.1.3 Non-Paraffins/Bio-based 23

2.2.2 Inorganic phase change materials 24

2.2.2.1 Salt hydrates 24

2.2.2.2 Metal and metal alloy PCMs (High-temperature) 25

2.2.3 Eutectic mixtures 26

2.2.4 Encapsulation of PCMs 26

2.2.4.1 Macroencapsulation 26

2.2.4.2 Micro/nanoencapsulation 26

2.2.5 Nanomaterial phase change materials 27

3 PATENT ANALYSIS 28

4 END USER MARKETS FOR PHASE CHANGE MATERIALS 30

4.1 AEROSPACE 30

4.1.1 Coatings 30

4.1.2 Propulsion 30

4.2 AUTOMOTIVE 31

4.3 BUILDINGS AND CONSTRUCTION 32

4.3.1 Improved energy efficiency 32

4.3.2 Concrete 34

4.3.3 HVAC 34

4.4 ELECTRONICS 37

4.4.1 Thermal management and cooling 37

4.5 PACKAGING AND COLD CHAIN LOGISTICS 39

4.5.1 Temperature-controlled shipping 39

4.6 REFRIGERATION SYSTEMS 41

4.6.1 Commercial refrigeration 41

4.7 THERMAL STORAGE SYSTEMS 43

4.7.1 Water heaters 43

4.7.2 Thermal batteries for water heaters and EVs 43

4.8 TEXTILES AND APPAREL 46

4.8.1 Temperature controlled fabrics 46

4.8.2 Cooling vests 46

5 COMPANY PROFILES 49

5.1 Type of PCM produced, by company 49

5.2 Target markets for PCMS, by company 50

5.3 Advanced Cooling Technologies, Inc. 52

5.4 AI Technology Inc. 52

5.5 Andores New Energy Co., Ltd. 53

5.6 Axiotherm GmbH 54

5.7 Azelio 54

5.8 Bodle Technologies Ltd. 55

5.9 Boyd Corporation 56

5.10 CCT Energy Storage 57

5.11 Climator Sweden AB 58

5.12 Cowa Thermal Solutions AG 58

5.13 Croda Europe Ltd. 59

5.14 Cryopak 60

5.15 Datum Phase Change Ltd 61

5.16 Devan Chemicals NV 62

5.17 Encapsys LLC (Milliken & Company) 63

5.18 Enesoon New Energy Co. Ltd 64

5.19 Ewald Dörken AG 64

5.20 Global-E-Systems Europe 65

5.21 Hangzhou Ruhr New Material Technology Co., Ltd. 66

5.22 HeatVentors 67

5.23 Henkel AG & Co. KGAA 67

5.24 Insolcorp LLC 69

5.25 Inuteq 69

5.26 KULR Technology Group, Inc. 70

5.27 Microtek Laboratories, Inc. 71

5.28 Parker Hannifin Corporation 72

5.29 PCM Technology 73

5.30 Phase Change Material Products Ltd. 73

5.31 Pelican BioThermal LLC 74

5.32 Phase Change Products Pty Ltd (PCP) 75

5.33 Phase Change Energy Solutions Inc. 76

5.34 PLUSS Advanced Technologies Pvt. Ltd. 77

5.35 Promethean Power Systems, Inc 78

5.36 PureTemp LLC 79

5.37 RGEES, LLC 80

5.38 Rubitherm Technologies GmbH 80

5.39 Salca BV 81

5.40 Sasol Germany GmbH 82

5.41 Schoeller Textiles AG 83

5.42 Shanghai Tempered Entropy New Energy Co. 83

5.43 Shenzhen Aochuan Technology Co., Ltd. 84

5.44 Sonoco Thermosafe 85

5.45 Shin-Etsu Chemical Co. Ltd. 85

5.46 Stasis Energy Group LLC 87

5.47 Sundanzer 87

5.48 Sunamp Ltd. 88

5.49 Suntherm ApS 89

5.50 va-Q-tec AG 89

5.51 Viking Cold Solutions, Inc. 90

6 RESEARCH METHODOLOGY 91

7 REFERENCES 92

List of
Tables

Table 1. Market drivers for phase change materials. 11

Table 2. Properties of PCMs. 11

Table 3. Global revenues for phase change materials, 2019, by type. 13

Table 4. Global revenues for phase change materials, 2020, by type. 14

Table 5. Global revenues for phase change materials, 2019-2031, by market, conservative estimate (millions USD). 14

Table 6. Global revenues for phase change materials, 2019-2031, by market, high estimate (millions USD). 17

Table 7. PCM Types and properties. 21

Table 8. Advantages and disadvantages of organic PCMs. 22

Table 9. Advantages and disadvantages of organic PCM Fatty Acids. 23

Table 10. Advantages and disadvantages of salt hydrates 25

Table 11. Advantages and disadvantages of low melting point metals. 25

Table 12. Advantages and disadvantages of eutectics. 26

Table 13. Recent PCM patents. 28

Table 14. Market assessment for PCMs in automotive-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges. 31

Table 15. Market assessment for PCMs in building and construction-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges. 35

Table 16. Market assessment for PCMs in electronics-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges. 37

Table 17. PCMs used in cold chain applications. 39

Table 18. Market assessment for phase change materials in packaging and cold chain logistics-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges. 40

Table 19. Market assessment for PCMs in refrigeration systems -market age, applications, key benefits and motivation for use, market drivers and trends, market challenges. 41

Table 20. Market assessment for PCMs in thermal storage systems-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges. 44

Table 21. Commercially available PCM cooling vest products. 47

Table 22. Market assessment for PCMs textiles and apparel-market age, applications, key benefits and motivation for use, market drivers and trends, market challenges. 48

Table 23. Type of PCM produced, by company. 49

Table 24. Target markets for PCMS, by company. 50

Table 25. CrodaTherm Range. 59

List of
Figures

Figure 1. PCM mode of operation. 9

Figure 2. Applications of PCM by temperature range. 11

Figure 3. Global revenues for phase change materials, 2019-2031, by market, conservative estimate (millions USD). 16

Figure 4. Global revenues for phase change materials, 2019-2031, by market, high estimate (millions USD). 18

Figure 5. Thermal energy storage materials. 19

Figure 6. Phase Change Material transient behaviour. 20

Figure 7. Classification of PCMs. 20

Figure 8. Phase-change materials in their original states. 21

Figure 9. Phase change materials patents 2001-2021. 28

Figure 10. Schematic representation of the PCM de-icing. 30

Figure 11. Global energy consumption growth of buildings. 32

Figure 12. Energy consumption of residential building sector. 32

Figure 13. Schematic of PCM use in buildings. 33

Figure 14. Comparison of the maximum energy storage capacity of 10 mm thickness of different building materials operating between 18 °C and 26 °C for 24 h. 34

Figure 15. Schematic of PCM in storage tank linked to solar collector. 43

Figure 16. UniQ line of thermal batteries. 44

Figure 17. PCMs-containing microcapsules incorporated into textiles. 46

Figure 18. PCM cooling vest. 47

Figure 19. Solid State Reflective Display (SRD®) schematic. 56

Figure 20. Transtherm® PCMs. 57

Figure 21. HI-FLOW Phase Change Materials. 68

Figure 22. Cr?do™ ProMed transport bags. 75