Pune, India, Sept. 07, 2022 (GLOBE NEWSWIRE) — According to MarketStudyReport, global thermochromic materials market was valued at USD 1,581 million in 2021 and is expected to grow at a CAGR of 9.4% during the reporting period, accumulating USD 2,965 million by the end of 2028.
The document divides the market into distinct verticals with respect to form, system, source and application to determine which area is viable for investment by outlining the growth rate and revenue share held by each segment. Regional markets are assessed in the report to understand the scope. Moving on to the competitive power structure, it provides a list of major companies that are fueling the demand throughout the forecast period.
The growth of the market is driven by the increasing demand for food quality indicators to assess the freshness of frozen dairy and meat products, as well as the extensive use of Thermochromic pigments in paints, coatings, inks, etc.
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For those who don’t know, Thermochromic Materials are leuco-dye mixtures of dye, solvent and color developer. They are mainly used as temperature measurements to determine temperature difference and distribution in a variety of processes.
The product demand is aided by the use in toys and baby diapers, thus bolstering the advancements in the commercial sphere. Furthermore, the growing penetration of smart and intelligent packaging, combined with advancements in technology, is further accelerating the development of the global thermochromic materials industry.
Segmental overview:
In terms of form, the industry is divided into thermochromic powder, thermochromic liquid crystal (TLC), thermochromic suspension and others. Among these, the thermochromic sludge segment accounted for a substantial market share in 2021 and is expected to register reasonable gains by the end of the study period.
Based on the type of system, the business landscape is categorized into molecular rearrangement, supramolecular systems, stereoisomerism, macromolecular systems, and others. The molecular rearrangement vertical retained a large share of revenue in 2021 and is expected to see subtle growth over the 2022-2028 period.
As for source type, the market is divided into inorganic thermochromic material, organic thermochromic material and others. The inorganic thermochromic materials segment held a considerable market share in 2021 and is expected to witness a decent expansion over the analysis period.
For the application spectrum, the global thermochromic materials market is categorized into packaging, textiles, printing inks, paints & coatings, industrial and others. Among these, the textile segment held a colossal revenue share in 2021 and is expected to witness modest development through 2028.
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Regional analysis:
Country-level market assessment based on regions such as Asia-Pacific, Europe, and North America is performed, which helps in determining the scope and scope of profitability for the stipulated period.
Competitive Dashboard:
Influential industry players include names like Smarol Industry Co. Ltd., Chromatic Technologies Inc. (CTI), QCR Solutions Corporation, Gem’innov, Olikrom SAS, Hali Industrial Co. Ltd., New Color Chemical Co. Ltd., Kolorjet Chemicals Pvt Ltd., Matsui International Co. Inc. and Kolortek Co. Ltd., among others.
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Global Thermochromic Materials Market, By Form (Revenue, USD Million, 2018 – 2028)
- Thermochromic Liquid Crystal (TLC)
- Thermochromic powder
- Thermochromic grout
- Others
Global Thermochromic Materials Market, By System (Revenue, USD Million, 2018 – 2028)
- Macromolecular systems
- Molecular rearrangement
- Stereoisomerism
- Supramolecular systems
- Others
Global Thermochromic Materials Market, by Source (Revenue, USD Million, 2018 – 2028)
- Inorganic thermochromic material
- Organic thermochromic material
- Others
Global Thermochromic Materials Market, by Application (Revenue, USD Million, 2018 – 2028)
- Industrial
- Packaging
- Printing inks, paints and coatings
- Textile
- Others
Global Thermochromic Materials Market, Regional Analysis (Revenue, USD Million, 2018-2028)
Asia Pacific
- India
- Japan
- South Korea
- China
Europe
- France
- Spain
- Italy
- Germany
- UK
North America
Rest of the world (right-of-way)
Global Thermochromic Materials Market, Competitive Scorecard (Revenue, USD Million, 2018 – 2028)
- Smarol Industry Co. Ltd.
- Chromatic Technologies Inc. (CTI)
- QCR Solutions Corporation
- Gem’innov
- Olikrom SAS
- Hali Industrial Co.Ltd.
- New Color Chemical Co. Ltd.
- Kolorjet Chemicals Pvt Ltd.
- Matsui International Co. Inc.
- Kolortek Co. Ltd.
TABLE OF CONTENTS:
FIGURES AND TABLES
PART 1. INTRODUCTION
- Description of the report
- Study objectives
- Market segment
- Years considered for the report
- Currency
- Key target audience
PART 2. METHODOLOGY
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
- Introduction
- Drivers
- Constraints
- Impact of the COVID-19 pandemic
PART 5. MARKET BREAKDOWN BY FORM
- Thermochromic Liquid Crystal (TLC)
- Thermochromic powder
- Thermochromic grout
- Others
PART 6. MARKET BREAKDOWN BY SYSTEM
- Macromolecular systems
- Molecular rearrangement
- Stereoisomerism
- Supramolecular systems
- Others
PART 7. MARKET BREAKDOWN BY SOURCE
- Inorganic thermochromic material
- Organic thermochromic matter
- Others
- PART 8. MARKET BREAKDOWN BY APPLICATION
- Industrial
- Packaging
- Printing inks, paints and coatings
- Textile
- Others
PART 9. MARKET DISTRIBUTION BY REGION
Related report:
Global Thermochromic Materials Market Size Study and Regional Forecast 2021-2027
Global Thermochromic Materials Market to reach USD 2.6 billion by 2027. The global thermochromic materials market is valued at around USD 1.4 billion in 2020 and is expected to grow with a healthy growth rate of over 9.5% over the forecast period 2021-2027. Thermochromic materials are separated into two groups based on their uses: “Thermal” refers to heat and “Chrome” refers to coloring. With a change in temperature, the thermochromic material undergoes a reversible change from color to colorless. Temperature changes can be caused by a variety of factors, including UV irradiation and sunlight. Organic dyes known as leuco dyes and liquid crystals are the most common materials used to create thermochromic effects. From the perspective of suppliers, the growing trend of researchers producing goods based on thermochromic materials is primarily an upscaling of the market.
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