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Chemicals & Materials
Global Phase Change Materials Market, By Medical Laboratories
| Label | North America | Europe | Asia-Pacific | Latin America | Middle East & Africa |
|---|---|---|---|---|---|
| 2019 | 1128.34 USD Mn | 682.59 USD Mn | 579.7 USD Mn | 106.03 USD Mn | 92.42 USD Mn |
| 2020 | 1242.1 USD Mn | 746.37 USD Mn | 629.41 USD Mn | 114.44 USD Mn | 96.45 USD Mn |
| 2021 | 1444.84 USD Mn | 862.42 USD Mn | 722.14 USD Mn | 130.49 USD Mn | 106.12 USD Mn |
| 2022 | 1712.53 USD Mn | 1015.46 USD Mn | 844.24 USD Mn | 151.61 USD Mn | 118.7 USD Mn |
| 2023 | 2046.27 USD Mn | 1205.42 USD Mn | 995.01 USD Mn | 177.55 USD Mn | 133.5 USD Mn |
| 2024 | 2441.5 USD Mn | 1428.91 USD Mn | 1171.01 USD Mn | 207.61 USD Mn | 149.48 USD Mn |
| 2025 | 2916.57 USD Mn | 1695.96 USD Mn | 1379.82 USD Mn | 243.02 USD Mn | 167.03 USD Mn |
| 2026 | 3434.17 USD Mn | 1984.18 USD Mn | 1602.58 USD Mn | 280.36 USD Mn | 183.27 USD Mn |
| 2027 | 4051.5 USD Mn | 2326.03 USD Mn | 1864.96 USD Mn | 324.03 USD Mn | 200.64 USD Mn |
| 2028 | 4793.01 USD Mn | 2734.45 USD Mn | 2176.3 USD Mn | 375.48 USD Mn | 219.19 USD Mn |
Data Source: Wantstats Repository
Growth Outlook
- The 20 to -35 deg C portion of the Global Phase Change Materials Market, By market is on a steady long-term growth path. Segment value stands at roughly USD 7485 Mn in 2026 and is projected to reach USD 10298 Mn by 2028 — a gain of about 38% over the forecast period, translating to a CAGR in the double digits.
- Across all 5 series, North America sits on top as of 2028: 4. 79B USD, or 47% of everything shown here combined.
- What the regional split looks like (2026): North America leads, holding roughly 46% of segment value — the single largest regional share. Europe is the second-largest contributor. Asia-Pacific, Latin America and Middle East & Africa make up the remainder, in descending order.
- By 2028, North America alone is expected to reach USD 4793 Mn, with Europe at USD 2734 Mn.
Market Dynamics
Across all 5 series, North America sits on top as of 2028: 4.79B USD, or 47% of everything shown here combined.
Second place: Europe, 2.73B USD, trailing North America by 43%.
North America climbs from 1.13B USD (2019) to 4.79B USD (2028), a 325% gain.
Europe: up 301% over the period, 682.59M USD to 2.73B USD.
Asia-Pacific grows to 2.18B USD by 2028, from 579.70M USD in 2019 — 275% up.
Latin America: 106.03M USD to 375.48M USD, 254% higher by 2028.
Middle East & Africa: 92.42M USD in 2019 to 219.19M USD by 2028, up 137%.
Across the full group, the combined total moves from 2.59B USD in 2019 to 10.30B USD in 2028 — a 298% change.
Making Sense Of 5 Series At Once
This chart compares 5 series side by side, not one trend over time. Read them against each other — the biggest number in the room is not automatically the most important line to follow.
Size and growth rate are two different questions here — a series can be small in absolute terms and still be growing the fastest of the group. Check both before drawing a conclusion.
For planning purposes, the end-year figure and the growth rate are the two numbers that matter. Together they show how large the Global Phase Change Materials market is projected to become and how quickly it gets there.
Figures before the 2018 base year are historical estimates; the years through 2028 are projections built from industry data, company revenues, and primary interviews. Forecasts are revised as new data comes in, so check the full report for the latest assumptions.
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Noah Malgeri
Co-Founder, Mojave Rail Fabrication Limited
This is really good guys. Excellent work on a tight deadline. I will continue to use you going forward and recommend you to others. Nice job.
Michael Robert
Manager, JavolVision
Thanks, I am so happy that we worked together. Maybe we still can work together in the future.
Joseph Aguayo
Sales Operations & Pricing Manager, Intel
Thanks. It's been a pleasure working with you, please use me as reference with any other Intel employees.
Bong Lau
Sales Leader, Bamberg
We bought your "2025 report" in 2020. Everything is fine and very good.
Peter Groot Koerkamp
Account and Business Manager, EFS-Holland BV
Thanks for sending the report it gives us a good global view of the Betaïne market.
Younghwan Choi
Senior Retail Manager, LG Chem
We found the report very insightful! we found your research firm very helpful. I'm sending this email to secure our future business.
Mark Irwin
Management Consultant, Level 21
I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.
Rob Kooiker
Group Product Manager HVAC & Fire Protection GMA, Rockwool
I have been reading the first document or the study, the Global HVAC and FP market report 2021 till 2026. Must say, good info! I have not gone in depth at all parts, but got a good indication of the data inside!
Jason Lee
R&D Director, Seojin
Thanks for your great support. Appreciate it. Well received report. It helps us to understand market well. We're planning other area of survey in the future, let's keep in touch.
Akif Moroglu
Strategy & Business Development Director, Dogan Holding
We got the report in time, we really thank you for your support in this process. I also thank to all of your team as they did a great job.