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Modern requirements for building energy efficiency necessitate the use of materials capable not only of reducing heat losses but also of actively controlling thermal processes within building envelopes. Phase change materials are considered one of the most promising solutions due to their ability to store thermal energy through latent heat during phase transition. The aim of this paper is to analyze the types of phase change materials (PCMs), their physical operating principles, performance characteristics, and application features in the construction industry. The paper examines the main categories of PCMs, including paraffin-based materials, organic eutectics, hydrated salts, and composite systems, with a comparative assessment of their advantages and limitations. Global practices of PCM application in buildings of various purposes are reviewed, along with regulatory approaches adopted in Europe, the United States, China, and Russia. Particular attention is paid to current technological trends such as improvements in microencapsulation, stabilization of salt-based PCMs, and reduction of production costs. It is shown that phase change materials have significant potential for increasing the thermal inertia of buildings and reducing energy consumption; however, their widespread implementation requires further development of regulatory frameworks and technological solutions that take into account the specifics of local climatic conditions.