Microencapsulated Paraffin Phase Change Materials Market Analysis

Microencapsulated Paraffin Phase Change Materials Market Analysis

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 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.