Thermochromic Pigment Market Report 2020-2030
Thermochromic Pigment Market Report 2020-2030: A Global Thermochromic Pigment Market Estimate and Forecast – Industry Insights for Consumption, Demand, Production, Price Trend, Competitive Intelligence and Opportunity Analysis Along the Value Chain
The global thermochromic pigment market was valued at $2,106.0 million in 2018. Thermochromic materials are extensively being used in several industrial domains to regulate heat reactions and temperature variation that measures distribution of chemical heating apparatus such as reactors and heat exchangers. Adding plastic extruder to thermochromic materials in feeding procedure that helps in fulfilling the processing prerequisite of the manufacturers. Thermochromic pigments are witnessing increasing application in printing inks, paints, coatings and plastics.
Thermochromic materials are excessively being used in creating temperature indictors and thermometers with the help of a special ink that is further printed into plastic films. These pigments are also used in battery test strips that enable current to flow efficiently with the help of thermochromic film and further heat the battery to change its color. Furthermore, there is huge untapped market prevailing in underdeveloped and developed economies that are further driving the growth of global thermochromic pigment market.
The products are becoming smarter and advanced with thermochromic pigment that supports kettle to glow in the dark and change its color. Moreover, these pigments are able to emit light for upto hours and are creating ample opportunities for low level lighting systems and instrumentation that is further strengthening the growth of the global thermochromic pigment market.
Increasing acceptance of thermochromic pigments in quality detection systems in the fast-moving consumer good industry is the key factor driving the growth of the global thermochromic pigment market. Thermochromic inks are expansively being used for novelty, security and temperature change indicators in packaging products in food domain as these pigments are used in labelling and packaging refrigerated products such as beverages. Additionally, availability of thermochromic products at affordable price is other factor that is driving the growth of global thermochromic pigment market.
However, low penetration of thermochromic pigment in underdeveloped economies along with accessibility of alternatives in developed countries is expected to hinder the growth of the global thermochromic pigment market.
Thermochromic pigment market forecast 2020 – 2030 estimates the historical market size in terms of consumption as well as revenue generated by the industry players across the globe. It offers the opportunity analysis along the value chain for the thermochromic pigment manufacturers. Also, the report offers the vendor analysis along with price trend which provides an edge to the stakeholders especially manufacturers to create a better understanding of the market. Printing ink, plastic & polymers, cosmetics, textile, food & beverages, paints & coatings, paper, and other industry players benefit from the product benchmarking and matrix helping them to take right decision in choosing the right product with optimum prices suited for their end use applications.
The reports provide the analysis based on product, pigment type, and end-use industry segment. On the basis of product, the global thermochromic pigment market is segmented into leuco dyes, liquid crystal material, and inorganic materials. Amongst these segments, liquid crystal material is anticipated to generate largest revenue by 2030 as liquid crystal technology is perceived convincing for deriving thermochromic pigments. Furthermore, color of liquid crystals is changed with the adoption this technique comprises for the purpose of re-orientation of liquid crystal technology.
Based on pigment type, the global thermochromic pigment market has been categorised into reversible thermochromic pigments and irreversible thermochromic pigments. Reversible thermochromic pigments are expected to contribute larger revenue throughout the estimated period owing to its extensive application in thermal regulation fields and thermal protective clothing.
On the basis of end-use industry, the global thermochromic pigment market has been segmented into printing ink, plastic & polymers, cosmetics, textile, food & beverages, paints & coatings, paper, and others. Amongst these segments, printing ink segment is anticipated to witness highest CAGR during the forecast period as printed inks are increasingly used for printing purpose on plastics globally.
Thermochromic pigment market in North America is anticipated to generate largest revenue of by 2030 owing to extensive need for printing ink in the region and increasing demand for thermochromic pigments from textile manufacturing industry is the key factor uplifting the demand for thermochromic pigment market in this region.
Thermochromic pigment market in Asia-Pacific is anticipated to generate highest CAGR during the forecast period owing to extensive demand for theme-based clothes, upgradation of thermochromic pigment application in textile domain and increasing awareness pertaining to the use of these pigments in the region. Additionally, development of smart textiles coatings in China is increasing due to adoption of micro encapsulation technique that is further bolstering the growth of thermochromic pigment market in this region at rapid pace.
The report also offers the insights for the European, Latin American, and Middle East and African Market. A detail analysis of historic and forecast consumption data, revenue in the market and competitive analysis for major competitors in each region is also provided.
The eminent key players in the global thermochromic pigment market are investing in launching new technologies to strengthen their market presence and thereby improving supply chain capability.
Some of the players having prominent presence in the global thermochromic pigment market include Special Effects and Coatings, Sherwin Williams, 3M, NanoMatriX International Limited, RPM International Inc., Clariant, QCR Solutions Corp, LCR Hallcrest LLC, Hammer Packaging, Corp., OliKrom, Smarol Industry Co. Ltd., and Gem’innov.
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