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Thermochromic Materials Market By Type (Reversible & Irreversible), By Application (Food quality indicators, Papers, Pigments, Thermometers and Others) and Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Growth, Future Prospects and Competitive Analysis, 2017 - 2025

Thermochromic materials change reversibly with changes in temperature. Using metal compounds or liquid crystals, they can be made as semi-conductive compounds. The change in color happens at a determined temperature, which can be varied when fixing the material. On the basis of product type, the global thermochromic market can be segmented into irreversible and reversible materials. Reversible materials are preferred over irreversible materials. They do not have the ability to return to their original state and are, therefore, widely used in baby products and chemical containers.

The rising demand for thermochromic materials in food quality indicators and the growing use of thermochromic pigments in paints, coatings, and inks are projected to drive the market over the next six years. Furthermore, the rise in demand for thermochromic material in novelty products is another factor driving the market growth. The use of reversible thermochromic materials in sensors and baby products is projected to enhance market growth over the forecast period.

Reversible technology is preferred more when compared with irreversible technology. However, attaining reversibility while maintaining stability is a complicated process, which is the major factor restraining market growth.Pigments dominate the global thermochromic materials market in terms of applications. The market is witnessing growth on account of its improved performance characteristics and high versatility. Moreover, owing to increasing awareness about the pigments, military equipment manufacturers are also using these pigments for camouflaging their sensitive devices. To determine the quality of frozen foods and meat, the usage of thermochromic materials as food quality indicators is projected to bolster market demand over the forecast period.

Asia Pacific is projected to be the most attractive market on account of the rising demand for thermochromic materials from the textile and automotive industries. The market for thermochromic materials in North America is driven by the rising demand for these pigments from printing and packaging applications.The report titled "Global Thermochromic Materials Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025" offers strategic insights into the global thermochromic materials market along with the market size and estimates for the duration of 2015–2025. The said research study covers an in-depth analysis of multiple market segments based on type, application, and cross-sectional study across different geographies. The study covers the comparative analysis of different segments for the years 2016 and 2025. The report also provides a prolific view of market dynamics, such as market drivers, restraints, and opportunities.The report also includes profiles of the leading thermochromic materials manufacturers, as well as their product portfolios and key developments, to assist strategic decision-makers.

Other in-depth analysis provided in the report includes:

  • Current and future market trends to justify the forthcoming attractive markets within the thermochromic materials industry
  • Market fuelers, market impediments, and their impact on market growth
  • in-depth competitive environment analysis
  • Trailing 2-year market size data (2015–2016)
  • SRC (Segment, Region, Country) Analysis

Overall, the research study provides a holistic view of the global thermochromic materials market, offering market size and estimates for the period from 2017 to 2025, keeping in mind the above-mentioned factors.

The global market for thermochromic materials can be categorized on the basis of type as follows:

  • Reversible 
  • Irreversible

Irreversible materials accounted for more than 60% share of the market in 2016 and are projected to maintain their market position over the forecast period of 2017 to 2025, owing to the high demand for novelty products and the textile industry. Rising demand for reversible materials in various applications is projected to drive the market over the forecast period. These materials are ideal for sensory applications. They aid in the identification of overheating hazards and are thus widely used in chemical containers and baby products. An apparel line using reversible pigment has also been introduced. Moreover, hair dyes using reversible thermochromic materials have been launched. These dyes enable customers to change the color of their hair based on their surroundings. Thus, increasing the application scope of reversible materials is the major factor driving the market growth.

The global market for thermochromic materials can be categorized on the basis of application as follows:

  • Pigments
  • Thermometers
  • Food Quality Indicators
  • Papers
  • Others

By application, pigments accounted for the largest share of the global market and were projected to maintain their dominance over the forecast period. The market is driven by their improved performance characteristics and high versatility. These pigments are frequently used in paints and inks, which are used as substrates to manufacture consumer goods. Pigments have helped develop infrared camouflage for military assets and other functional areas. Furthermore, the growing demand in the textile industry is another factor that will contribute to market growth. Reversible thermochromic materials are often used to determine the quality of frozen foods, which is projected to complement product demand over the forecast period. To promote the need for solar management options for architectural and construction applications, thermochromic pigments are being utilized to manufacture windows and walls to impart color-changing and heat-controlling abilities.

The global thermochromic materials market can be categorized on the basis of regions as follows:

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • U.K.
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • India
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Mexico
  • rest of Latin America

Middle East and Africa (MEA)

  • GCC Countries
  • the remainder of MEA

Asia Pacific is projected to be the most lucrative market over the forecast period on account of the rise in demand for thermochromic pigments in the textile industry for the manufacturing of novelty products and the automobile industry. In North America, the market is driven by the rise in demand for thermochromic pigments for printing applications. The use of these pigments in inks for screen printing and flexography is projected to be the key aspect for the growth of the market. In European countries, the demand for thermochromic food quality indicators to determine the quality of dairy products and frozen meat is projected to be the key factor driving market growth in the region.

Frequently Asked Questions:

The market for Thermochromic Materials Market is expected to reach US$ XX Mn By 2025.

The Thermochromic Materials Market is expected to see significant CAGR growth over the coming years, at 9.1%.

The report is forecasted from 2017-2025.

The base year of this report is 2016.

Indestructible Paints Limited, Fraunhofer IAP, Good Life Innovations Ltd, New Prismatic Enterprises Co. Ltd. (NCC), Smarol Industry Co. Ltd. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Oct 2017
Category:  Advanced Materials
Report ID:   58769
Report Format:   PDF
Pages:   120
Rating:    4.8 (65)
Delivery Time: 24 Hours to 48 Hours   
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