Because of their low thermal conductivity, polymers are not commonly considered as a material to construct heat exchangers, except for specific applications, e.g. heat recovery from solvent laden streams, where exotic alloys are required to prevent corrosion. In this review the material properties of polymers are examined, as well as the current state of the art of polymer matrix composites. It is shown that these materials do hold promise for use in the construction of heat exchangers in HVAC&R applications, but that a considerable amount of research is still required into material properties and life-time behavior. A successful application of polymers or polymer matrix composites is based on careful material selection and modification of the design to fully exploit the material properties, as is demonstrated through a series of examples.