Microencapsulated Paraffin Phase Change Materials Market SWOT Analysis, Dynamics, Drivers, Key Indicators and Forecast to 2022-2028

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Microencapsulated Paraffin Phase Change Materials
Market Trends, Demand, Types, Technology,
Industry Analysis and Forecasts Research Report
2028
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Global Market Scenario of Microencapsulated
Paraffin Phase Change Materials Industry
Microencapsulated Paraffin Phase Change
Materials Market is projected to surpass USD 370
million by 2028. The increasing demand for
energy-saving and environmental-friendly
technologies is driving the global
microencapsulated paraffin phase change materials
market growth. The major end-use segment driving
the industry is building construction followed
by textile. Phase change materials bridge the gap
between energy availability and its requirement
thus have the potential to reduce the energy
needed for space heating cooling while
improving the quality of the space in commercial
residential applications where the use of a
large material mass is inappropriate. Some major
findings of the microencapsulated paraffin phase
change materials market report include The
rising urbanization and growing population in
India, China, South Korea, Taiwan, and Southeast
Asia present strong growth aspects in the
regional building construction sector and
support microencapsulated paraffin phase change
materials market expansion.
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Continue-
According to Boeing statistics and database, new
airplanes demand is expected to exceed 35,000
globally by 2035, with the highest share of North
America. Increasing adoption in the aerospace
sector will open new avenues for
microencapsulated paraffin phase change materials
market. U.S. contributed USD 705 billion approx.
in global military expenditure in financial year
2021. Various projects that integrate
communication and electronic equipment in
military uniforms are being implemented in the
region. Enormous defense budget in the U.S. will
result in a rising demand for microencapsulated
paraffin phase change materials for their usage
in advanced military textiles in the near
future. The European Union (EU) funded various
technological projects such as Wealthy, MY
HEART, BIOTEX, MERMOTH, OFSETH, etc. for smart
fabrics and interactive textiles in recent years.
With such initiatives, Europe microencapsulated
paraffin PCM textiles segment will observe
substantial rise over the coming years.
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Latin America microencapsulated paraffin phase
change materials market will witness 9.5 CAGR
over the forecast timeframe. The region has been
representing captivating investment opportunities
in the recent years, for being kept afloat by
regional integration, a continued focus on trade
and industrialization and a rising consumer
class. The growing strength of Latin American
markets along with the sustainable expansion of
regional manufacturing sector have turned
attention of investors microelectronics business
opportunities in the region. LATAM has been
witnessing significant investment towards
strengthening its defense sector. These factors
are expected to increase microencapsulated
paraffin PCM market expansion over the coming
years.
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Competitive Analysis
Europe microencapsulated paraffin phase change
materials market will generate around USD 145
million by 2028. A major part of energy
consumption in buildings is electrical energy due
to heating, air conditioning, and ventilation,
which varies by commercial, industrial, or
residential activities, weather conditions, and
time of the day therefore, there is a pressing
need for the study of high-performance HVAC
systems. According to the European Council on
Energy Performance of Buildings, 40 of the total
energy is consumed by buildings for heating,
ventilation, and cooling in the European Union
and is expected to increase over the coming
years. Which in turns is expected to increase
demand of PCM for HVAC application over the
coming years.
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Title
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Paraffin Phase Change Materials
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