Press Release: April 18, 2020
The global thermochromic market was USD 968.3 million in 2017, and is expected to reach USD 2,250.4 million by 2025, growing at a CAGR of 11.7% during the forecast period.
Rise in the demand from print packaging industry, increasing usage of thermochromic pigments in smart textiles and plastics as well as rising prominence of thermochromic pigments in the infrastructure segment worldwide are the key factors bolstering the growth of thermochromic pigments market.
In 2017, reversible thermochromic pigments had the largest share in the thermochromic pigments market
The extensive usage in print packaging industry to indicate temperature change and surging employment in decorative products are some of the significant aspects fuelling growth of reversible thermochromic pigments segment. Moreover, Irreversible thermochromic pigments are capable of changing color only once. The Irreversible thermochromic pigments are being majorly used in prevention of thermal faults. The ink printing application is leading the thermochromic pigments market by applications. Rise in demand for thermochromic pigments in smart packaging and smart textiles for ink printing application are few of the factors which are driving the growth of the market.
Presence of large number of printing ink manufacturers coupled with increasing affordability of thermochromic products are the major reasons likely to spur the market growth in North America over the coming years. United States is a key country in the region with the highest consumption of thermochromic pigments owing to its growing smart packaging and smart textiles market. Asia-Pacific thermochromic pigments market is projected to grow at the highest rate during the forecast period. The large automotive industry as well as growing textile industry in the region are likely to positively influence the market growth during the forecast period.
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Additionally, the report has also covered profiles of the major companies active in the field, including RPM International, Chromatic Technologies Inc, OliKrom, Quad/Graphics, Smarol Technology, SFXC, Matsui Color, LCR Hallcrest, Hammer Packaging, 3M, Ball, Crown Bevcan Europe, Indestructible Paints Limited, Kolortek Co. Ltd., NanoMatriX International Ltd.
The research report “global thermochromic pigments market” provides in-depth analysis of global thermochromic pigments market based on type, applications and major geographies from the period 2018 to 2025. The report highlights the major market drivers pushing the growth and challenges faced by market participants. The research report provides market size and forecast for thermochromic pigments market. Further, the report also analyses the competitive landscape and the major players and their market share in 2018. The competitive landscape section of the report also captures and states the recent development in the market.
Key questions answered in this research report:
1. At what pace is the thermochromic pigments market growing worldwide? What will be the growth trend in future?
2. What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the coming years?
3. What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global thermochromic pigments market?
4. What are the various application areas and how they are poised to grow?
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