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  Phase Change Materials (PCM) Market Application Phase Change Materials Market is expected to register over 16% CAGR to reach USD 4.2 billion by end of 2025. Phase Change Materials (PCMs) are known as thermal energy storage materials being widely used as a reliable source of energy to maintain required temperatures in a broad range of end-use industries. These materials change state from a solid to a liquid or from a liquid to a solid. The growth of the phase change materials market is primarily driven by rising demand for energy-efficient construction materials in the building and construction industry. Competitive Analysis Some of the key players in the global phase change materials are Global- E-Systems Europe B.V. (Netherlands), PCM Products Ltd (UK), Henkel AG Co. KGaA (Germany), Croda International Plc (UK), Laird (UK), Cryopak, A TCP Company (US), Phase Change Energy Solutions Inc. (US), PURETEMP LLC (US), Microtek Laboratories, Inc. (US), Honeywell International Inc. (US),

  Phase change material Market Synopsis According to the MRFR analysis, the global phase change material market size was valued at USD 13,397.69 thousand in 2020 and is projected to reach USD 49,021.39 thousand by 2028 at a CAGR of 17.90%. Phase change materials Market (PCMs) are substances that absorb or release substantial amounts of ‘latent’ heat when their physical state changes, for as from solid to liquid or liquid to solid. PCMs facilitate the capacity to balance demand between energy requirements and usage by providing a variety of thermal management solutions. PCMs are widely utilised in the medical field for transporting blood, vaccinations, and temperature-sensitive medications, operating tables, hot-cold therapy, birth asphyxia treatment, and drug delivery. The increasing demand for PCMs in drug delivery and medicinal and vaccines transport is a key driver of the global market. PCM-based smart medication delivery systems have a lot of potential, according to researchers a