Phase-change emulsions (PCE) are important in a variety of applications, from ultrasound imaging to the explosive material used in the mining industry, but until now there has been no adequate theory to describe their activation properties. The PCE consists of a low-boiling-point liquid, known as the volatile phase, dispersed in an aqueous phase. The volatile phase boils as a result of an increase in the temperature of the emulsion. The volume of the emulsion will increase during this phase transition, with the transition temperature and final volume of the emulsion highly dependent on the initial radius of the liquid droplets. Here a description of the change in boiling point and freezing point of the volatile phase, as well as the volume change of a droplet in the emulsion as a function of the initial droplet radius, is presented. The influence of volatile phase solubility, liquid-liquid interfacial tension, and final temperature are explored, accounting for the influence of confinement on the properties of the volatile phase. Beyond this, a means by which the diffusivity of the gas in the continuous liquid phase can be measured is derived.