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Rapid growth of the packaging and construction industries across the globe is expected to drive the revenue-generation opportunities in the global microencapsulated paraffin phase change materials market during the forecast period of 2021 to 2031.
An upcoming study by Transparency Market Research (TMR) offers in-depth analysis of major factors influencing the development curve of the global microencapsulated paraffin phase change materials market. Hence, readers of this study gain access to thorough analysis of factors such as the growth drivers, present and historical trends, growth restraints, R&D activities, challenges, and expansion opportunities in the market. Furthermore, it provides dependable data on the production, sales, shares, volume, and revenues in the market for microencapsulated paraffin phase change materials.
The study by TMR performs segmentation of the global microencapsulated paraffin phase change materials market on the basis of different crucial parameters such as end-use and region. On the basis of end-use, the market for microencapsulated paraffin phase change materials is divided into several parts such as HVAC, building & construction, textiles, packaging, healthcare, chemical, and aerospace & automotive.
Microencapsulated phase change materials are being used in the construction sector for a wide range of purposes such as room cooling, waste heat recovery systems, solar water heating, and room heating. A surge in the construction activities across the globe in the recent years is estimated to result into lucrative opportunities in the microencapsulated paraffin phase change materials market.
The government authorities of several developed and developing nations globally are investing heavily in infrastructure development activities. Hence, a rise in the number of planned construction activities across the globe are expected to drive demand for microencapsulated paraffin phase change materials, which in turn, is expected to propel the microencapsulated paraffin phase change materials market during the forecast period.
Microencapsulated paraffin PCMs are gaining traction across the globe as environmentally responsive materials, since they respond to an environmental trigger, which results in a physical change in the material. Some of the important instances of triggers include the temperature, ionic concentration, and pH. Hence, the microencapsulated paraffin PCMs technology is being adopted across a wide range of end-use industries such as the textile, automotive, electronics manufacturing, and packaging, which in turn, is fueling the sales growth in the microencapsulated paraffin phase change materials market, notes a study by TMR.
The global microencapsulated paraffin phase change materials market is fairly fragmented in nature. Presence of many global and local players connotes that the competitive landscape of the market for microencapsulated paraffin phase change materials is extremely intense. Vendors working in this market are using diverse strategies to gain the leading position. Some of the key strategies used by key companies in the microencapsulated paraffin phase change materials market include mergers, acquisitions, new product launches, R&Ds, partnerships, and collaborations.
The list of key players in the global microencapsulated paraffin phase change materials market includes:
In terms of region, the global microencapsulated paraffin phase change materials market shows existence in many regions including North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Of all regions, Asia Pacific is one of the prominent regions in the market for microencapsulated paraffin phase change materials owing to a rise in the infrastructure development activities in the region.
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Microencapsulated Paraffin Phase Change Materials Market
