Thermochromic materials are used as indicators for temperature in many industries for the purpose of determining the variations in temperature and heat reaction in chemical reactions. It is also used to measure the temperature distribution in chemical heating apparatus like heat exchangers and reactors. Thermochromic materials change their color by temperature change. This color change is due to the changes in structure and crystalline phases. They are used in the form of coatings, inks, paper sheets, and polymers.
MARKET DYNAMICS
An increase in the demand for smart packaging applications drives the growth of the thermochromic materials market. Besides this, an upsurge in demand for product differentiation and enhanced appearance of products also drives the market growth. However, poor light fastness property of thermochromic materials hinders the growth of the thermochromic materials market. Usage of thermochromic materials in construction to provide thermal roof performance is expected to bolster well the demand for thermochromic materials in the near future.
MARKET SCOPE
The "Global Thermochromic Materials Market Analysis to 2028" is a specialized and in-depth study of the Chemicals and Materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the thermochromic materials market with detailed market segmentation by type, material, application, end user and geography. The global thermochromic materials market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading thermochromic materials market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global thermochromic materials market is segmented on the basis of type, material, application and end user. On the application of type, the thermochromic materials market is segmented into reversible thermochromic materials and irreversible thermochromic material. As per material the market is classified into leuco dyes, liquid crystal, pigments and others. The thermochromic materials as per application is bifurcated into security inks, POS systems, body armors, thermometer and others. On the basis of end user the thermochromic materials market is broken into packaging, printing & coating, medical, textile and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global thermochromic materials market based on various segments. It also provides market size and forecast estimates from the year 2020to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The thermochromic materials market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the thermochromic materials market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the thermochromic materials market in these regions.
MARKET PLAYERS
The reports cover key developments in the thermochromic materials market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from thermochromic materials market are anticipated to lucrative growth opportunities in the future with the rising demand for thermochromic materials market in the global market. Below mentioned is the list of few companies engaged in the thermochromic materials market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the thermochromic materials market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Chromatic Technologies Ltd.
- Fraunhofer IAP
- Hali Industrial Co. Ltd.
- Indestructible Paints Limited
- Kolortek Co., Ltd.
- LCR Hallcrest LLC
- Matsui International Co., Inc.
- New Color Chemical Co. Ltd.
- New Prismatic Enterprises Co., Ltd.
- Smarol Industry Co. Ltd.