The global demand for Thermochromic Material Market is presumed to reach the market size of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period 2021 - 2027.
Temperature-sensitive materials that change colour when exposed to heat are known as thermochromic materials. Charge transfer, crystalline field, chemical structure alteration, and temperature-induced events like phase transitions, decompositions are some of the methods employed to generate thermochromism. Leuco dyes or liquid crystals are often used to create thermochromic materials. Before being used in their respective applications, both liquid crystals and leuco dyes are encapsulated in microcapsules. The use of thermochromic microcapsules is fast expanding in a myriad of applications worldwide. In many industrial sectors, thermochromic materials are used primarily as temperature indicators to identify temperature and reaction temperature variations in chemical reactions. They quantify the temperature distribution of chemical heating devices, like heat exchangers and reactors, and indicate temperature variation in chemical containers and hazardous materials and storage vaults.
The demand for smart packaging and smart textile goods is fueling the market growth for thermochromic materials. Smart fabrics for fashion and home furnishings are increasingly incorporating these materials. Ski outfits, tablecloths whose colour changes when they come into contact with hot table items, chairs whose colour shows where a person has sat, and apparel with a specific theme painted on them that changes colour are examples of these applications. Thermochromic fabrics can also be employed as flexible sensors for security or camouflage purposes. Several research institutions are looking into using thermochromic materials in energy conservation, particularly as coatings for switchable glass.' This sort of glass allows heat to pass through in the winter to take advantage of passive solar heating, but it blocks it in the summer. Thermochromic inks are used on packaging products for marketing, labelling, security printing, and promotional purposes. The widespread applications of thermochromic materials across various sectors is significantly contributing to the market growth. However, in the presence of Ultra – Violet (UV) radiation, thermochromic materials are known to degrade. In addition, due to the complex production process, thermochromic materials are more expensive than regular ink. These factors might limit the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of thermochromic material. The growth and trends of thermochromic material industry provide a holistic approach to this study.
This section of the thermochromic material market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By End-Use Industry
- Leuco Dyes
- Liquid Crystals
- Printing & Coating
This section covers the regional outlook, which accentuates current and future demand for the Thermochromic Material market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Thermochromic Material Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the thermochromic material market include OliKrom (France), LCR Hallcrest (U.S.), Chromatic Technologies (CTI) (US), Matsui International Company (U.S.), New Prisematic Enterprise (Taiwan), Smarol Industry (China), GEMINNOV (France), Hali Industrial (China), Kolorjet (India), and Kolortek (China). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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