One major challenge in utilizing phase change materials (PCMs) for thermal energy storage (TES) and photo- thermal conversion is the high cost of nano-additives and the need for significant filler loading to achieve optimal performance. These challenges can be effectively addressed by integrating advanced nanomaterials, that offer superior thermal properties and enhanced stability at low cost, significantly improving the overall performance and reliability of TES systems. In the current study, TMX-MOF, a metal-organic framework (MOF) derived from low-cost titanium carbide MXene (Ti3C2), produced from Ti3AlC2 MAX-phase using carbon soot (CS) sourced from automobile exhaust and aluminum (Al) extracted from waste beverage cans was synthesized. The TMXMOF was saturated with organic paraffin wax (PW) at varying weight loadings of 0.1-0.5 wt% to form phase change composites (PCCs). A detailed analysis of the composite's performance was conducted focusing on their microstructural behavior, structural, chemical, and thermal stability, thermal conductivity, latent heat, and phase change properties. The results revealed that the integration of TMX-MOF into PW led to significant enhancement in thermal conductivity, increasing by up to 40 %, which improved heat transfer and caused a slight elevation in the melting point during the phase transition. These newly developed PCCs demonstrated robust chemical and thermal stability up to 200 degrees C, which was further enhanced as the weight loading increased. All PCCs showed high photo-absorptivity, low transmittance, and high heat capacity, achieving up to 80 % enthalpy efficiency and a photothermal conversion efficiency of 86.3 % at 0.5 wt% TMX-MOF. The study achieved low synthesis costs of Ti3C2 MXene ($17.7/g) and TMX-MOF ($35.7/g), aligning with market benchmarks, and confirming the feasibility of the proposed method. This work validates the cost-effective nature of the synthesis approach and provides strategic insights for optimizing processes, enabling scalable production and practical applications in advanced PCM-based thermal management.