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Microencapsulated Paraffin Phase Change Materials Market Size, Share and Industry Analysis Report by End-user Sector (Building & Construction, HVAC, Packaging, Textiles, Chemical, Healthcare, Aerospace & Automotive), Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI5244
  • Published Date: Apr 2022
  • Report Format: PDF

Industry Overview

Microencapsulated Paraffin Phase Change Materials Market size crossed USD 200 million in 2021 and is estimated to exhibit a CAGR of 9% from 2022 to 2028 due to the expansion of the construction industry coupled with growing adoption in the packaging sector. In terms of volume, the industry size may cross 173.2 Kilo Tons by 2028, with an anticipated CAGR of 7.8% through the projected period.
 

Microencapsulated Paraffin Phase Change Materials Market Outlook

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Microencapsulated phase change materials are increasingly utilized in the construction sector, including waste heat recovery systems, room cooling, room heating, and solar water heating. Growing construction output coupled with planned mega construction projects in developed as well as developing economies are expected to drive demand for phase change materials over the forecast period.
 

Microencapsulated paraffin PCMs are environmentally responsive materials, i.e., they respond to an environmental trigger that results in a physical change in the material. Examples of triggers are pH, temperature, and ionic concentration. Microencapsulated paraffin PCMs, a very new technology, find applications in several end-user industries due to their versatile properties. It is gradually grabbing attention in automotive, textile, packaging, and electronics manufacturing for effective utilization.
 

Research has been conducted to test the efficiency of microencapsulated paraffin phase change materials in buildings and has shown positive results of energy savings in most of the experiments. In addition, manufacturers are openly experimenting with PCMs in textiles to venture into the new niche of smart textiles. Temperature-controlled packaging is also another important application segment of microencapsulated paraffin phase change materials in the pharmaceutical industry. Furthermore, they are also used in general packaging formats for frozen food products.
 

The global market will be primarily driven by escalating growth in both construction and packaging industry. HVAC applications in Europe will be positively influencing the phase change materials demand throughout forecast period. Textile industry has emerged as a vital end-user of microencapsulated paraffin phase change materials since past decade.
 

Packaging industry has become an indispensable part of microencapsulated paraffin phase change materials industry. With exponentially growing e-commerce industry, packaging industry is also experiencing boom across the globe. Packaging companies are innovating with new packaging trends, particularly for food materials.
 

The building & construction segment to gain popularity

Microencapsulated Paraffin Phase Change Materials Market By End User

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The microencapsulated paraffin phase change materials market from building & construction will generate over USD 110 million by 2028. PCMs are microencapsulated are incorporated into the porous structure to increase the thermal mass of building. Another important application of phase change material is its integration in the thermal diode to enhance effectiveness of heat sink. In addition, various other applications are being discovered for phase change materials to be used across buildings, where it can help in reducing carbon footprint and hence save energy.
 

Microencapsulated paraffin phase change materials market from packaging application will witness over 8.5% CAGR through 2028. The materials have gained prominence across thermal packaging application in recent years. Paraffins can be used for thermal packaging as both have good latent heat and non-corrosive nature. Development in packaging formats will subsequently accelerate microencapsulated paraffin phase change materials market growth in the coming years.
 

Europe will hold a significant share in the market

Microencapsulated Paraffin Phase Change Materials Market By Region

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Europe dominates the microencapsulated paraffin phase change materials market and will generate a demand for over 60 kilo tons by 2028 due to the advanced construction practices in European countries and growing demand for HVAC systems in residential houses. Integration of microencapsulated paraffin phase change materials into heating systems and ventilation considerably affects room temperature. Europe experiences cold weather conditions for most of the time of the year. Hence, good HVAC systems are needed all around the year, which eventually creates the product demand.
 

The COVID 19 has impacted almost every industry in North America. North America is the second largest market for microencapsulated paraffin phase change materials. Due to the nationwide lockdown in the U.S. and in many other parts of North America, the construction & packaging industries are facing a hit, thereby impacting the microencapsulated paraffin phase change materials market sales in these industries.
 

The industry participants to adopt multiple strategies to strengthen their foothold

Top players in the microencapsulated paraffin phase change materials industry are BASF, Rubitherm, Microtek Laboratories, Andores New Energy CO., Ltd, and Tempered Entropy. Manufacturers operating in this industry are adopting various strategies such as new product developments, acquisitions, partnerships, and collaborations in order to gain competitive advantage over other companies.
 

The microencapsulated paraffin phase change materials market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Thousand) and volume (Tons) from 2022 to 2028 for the following segments

By End-user

  • Building & construction
  • HVAC
  • Electrical & electronics
  • Packaging
  • Textiles
  • Chemical industries
  • Healthcare
  • Aerospace & automotive
  • Others

The above information is provided on a regional and country basis for the following:

By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
  • Latin America
    • Brazil
    • Mexico
    • Chile
  • Middle East & Africa
    • GCC
    • South Africa

 

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

Microencapsulated paraffin phase change materials market is slated to surpass USD 370 million by 2028 and is expected to grow at a CAGR of 9% between 2022 and 2028 driven by the expansion of the construction industry.

The market share from the building & construction sector is anticipated to cross USD 110 million until 2028 considering the rising product incorporation into porous structures for the enhancement of thermal mass.

Europe microencapsulated paraffin phase change materials market demand is set to surpass 60 kilo tons through 2028 owing to the rising demand for HVAC systems in residential houses.

Prominent players in the microencapsulated paraffin phase change materials industry comprise Andores New Energy CO., Ltd, Microtek Laboratories, Rubitherm, BASF, Tempered Entropy, and others.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 4
  • Tables & Figures: 176
  • Countries covered: 16
  • Pages: 150

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