Global Thermochromic Materials Market was valued at USD XX Billion in 2019 and is expected to reach at USD XX billion by 2027 at a CAGR of XX % during forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Market Drivers and Restrains:
The Global Thermochromic Materials Market is mainly driven by Growing demand for thermo chromic materials in food quality indicators to determine the quality of frozen meat and dairy products coupled with increasing use of thermo chromic pigments in inks, paints, and coatings. Furthermore, increasing adoption of smart and intelligent packaging is expected to fuel market growth during forecast period. The product is increasingly being used in smart textiles or fashion and house-hold furnishings thus boosting market growth.
A growing market for baby diapers, toys, battery gauges with an increasing need for thermo chromic materials facilitates the product run. An increasing growth opportunity in emerging economies with technological advancements would boost market during forecast period.However, factors such as, complex chemical formulation coupled with the difficulty in maintaining the formulation stability of reversible thermo chromic materials is expected to hamper the growth of Global Thermochromic Materials Market over the forecast period.
Global Thermochromic Materials Market Segment Analysis:
Based on End user industry Global Thermochromic Materials Market is segmented into Printing & coating, packaging, medical, textile, industrial, and others segment. Printing & coating accounted for the largest market share in 2018 and is expected to lead the leading segment during the forecast period. Packaging, textile, medical, and industrial segments are likely to witness tremendous growth opportunities attributed to, the technological advancements and innovations in the defence & security equipment such as body armours & helmets and vehicle & aircraft.
Global Thermochromic Materials Market Regional Analysis:
Geographically, the Thermochromic Materials Market is segmented into APAC, Europe, North America, and the Middle East & Africa. Europe was the largest market for thermochromic materials, which accounted for largest share, in terms of value in 2018. The thermochromic materials market in Europe is segmented into Germany, France, the UK, Italy, Spain, and Rest of Europe. The growth of the thermochromic materials market in the region is attributed to the demand from the packaging and printing & coating end-use industries. The smart packaging industry in the countries of Western Europe, including France and the UK is growing rapidly, which is fuelling the demand for thermo chromic materials.
Moreover North America is expected to lead the Global Thermochromic Materials Market at a CAGR of xx% during forecast period owing to, the rising interest for use of pigments in printing. Thermochromic pigments usage in inks for screen printing and flexographic printing is expected to drive the market in the region.
Scope of Report:
Global Thermochromic Materials Market segmentation by Material
- Leuco Dyes
- Liquid Crystals
Global Thermochromic Materials Market segmentation by End-use industry
- Printing & Coating
Global Thermochromic Materials Market segmentation by Region
- North America
- Asia Pacific
- Middle East & Africa
- South America
Global Thermochromic Materials Market Major Players:
- OliKrom (France)
- LCR Hallcrest (US)
- Chromatic Technologies (CTI) (US)
- Matsui International Company (US)
- New Prisematic Enterprise (Taiwan)
- Smarol Industry (China)
- GEM’INNOV (France)
- Hali Industrial (China)
- Kolorjet (India)
- Kolortek (China).
- New Color Chemical Co.
- QCR Solutions
- Hali Industrial Co. Ltd.
- LCR Hallcrest
- Matsui International
- QCR Solutions
- Good Life Innovations
- Chromatic Technologies
- SMAROL INDUSTRY
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