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 slated to progress at 9.4% CAGR through the review period, thus 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 arena is viable for investment by outlining the growth rate and revenue share held by each segment. The regional markets are assessed in the report to understand the reach. Moving on to the competitive power structure, it provides a list of major corporations that are fueling demand through the forecast period.
The growth of the market is driven by increasing demand for food quality indicators to assess the freshness of frozen dairy & meat products, as well as extensive use of thermochromic pigments in paints, coatings, inks, etc.
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For the unaware, thermochromic materials are leuco-dye mixtures of color former, solvent, and color developer. They are primarily used as temperature metrics to determine temperature difference & distribution in a variety of processes.
The product demand is aided by usage in toys and baby diapers, thus bolstering the progress of the business sphere. Besides, rising penetration of smart & intelligent packaging, combined with technological advancements are further accelerating global thermochromic materials industry development.
In terms of form, the industry is split into thermochromic powder, thermochromic liquid crystal (TLC), thermochromic slurry, and others. Of these, the thermochromic slurry segment accounted for a substantial market share in 2021 and is expected to garner reasonable gains by the end of the study period.
Based on system type, the business landscape is categorized into molecular rearrangement, supramolecular systems, stereoisomerism, macromolecular systems, and others. The vertical molecular rearrangement retained a significant revenue share in 2021 and is estimated to record subtle growth during 2022-2028.
With respect to source type, the marketplace is divided into inorganic thermochromic material, organic thermochromic material, and others. The inorganic thermochromic material segment held a considerable market share in 2021 and is anticipated to observe decent expansion during the analysis period.
For application spectrum, worldwide thermochromic materials market is classified into packaging, textile, printing inks, paints and coatings, industrial, and others. Among these, the textile segment held a colossal revenue share in 2021 and is slated to witness modest development through 2028.
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A country-level assessment of the market based on regions including Asia Pacific, Europe, North America is conducted, which helps in determining the reach and profitability scope for the stipulated timeframe.
The influential players in the industry 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 Slurry
Global Thermochromic Materials Market, By System (Revenue, USD Million, 2018-2028)
- Macromolecular Systems
- Molecular Rearrangement
- Supramolecular Systems
Global Thermochromic Materials Market, By Source (Revenue, USD Million, 2018-2028)
- Inorganic Thermochromic Material
- Organic Thermochromic Material
Global Thermochromic Materials Market, By Application (Revenue, USD Million, 2018-2028)
- Printing Inks, Paints, and Coatings
Global Thermochromic Materials Market, Regional Analysis (Revenue, USD Million, 2018-2028)
- South Korea
Rest of the world (RoW)
Global Thermochromic Materials Market, Competitive Dashboard (Revenue, USD Million, 2018-2028)
- Smarol Industry Co. Ltd.
- Chromatic Technologies Inc. (CTI)
- QCR Solutions Corporation
- 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
- report description
- Objectives of the study
- Market segment
- Years considered for the report
- Key target audience
PART 2. METHODOLOGY
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
- Impact of COVID-19 pandemic
PART 5. MARKET BREAKDOWN BY FORM
- Thermochromic liquid crystal (TLC)
- Thermochromic powder
- Thermochromic slurry
PART 6. MARKET BREAKDOWN BY SYSTEM
- Macromolecular systems
- Molecular rearrangement
- Supramolecular systems
PART 7. MARKET BREAKDOWN BY SOURCE
- Inorganic thermochromic material
- Organic thermochromic material
- PART 8. MARKET BREAKDOWN BY APPLICATION
- Printing inks, paints and coatings
PART 9. MARKET BREAKDOWN BY REGION
Global Thermochromic Material Market Size study and Regional Forecasts 2021-2027
Global Thermochromic Material Market to reach USD 2.6 billion by 2027.Global Thermochromic Material Market is valued at approximately USD 1.4 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 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 coloration. With a change in temperature, thermochromic material undergoes a reversible shift from color to colourless. 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 a supplier’s perspective, the growing trend among researchers to produce goods based on thermochromic materials is primarily upscaling the market.
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