PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270339
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1270339
Thermochromic Pigments Market size was valued at USD 1,508.3 Million in 2022, expanding at a CAGR of 6.1% from 2023 to 2030.
Thermochromic pigments are special pigments that alter color when exposed to temperature, which may be high or low. The colors are significantly impacted by variations in temperature. As a consequence, thermochromic pigments are used in many different industries, such as ceramics, textile printing, and plastics.
Market Dynamics
The market for thermochromic pigments is expanding significantly on a worldwide scale. The use of thermochromic pigments in a variety of products, such as ceramics, plastics, and textile printing, is a key element driving the expansion of the global market. When printing on textiles with conventional textile hues, thermochromic pigments are frequently used. As the weather changes, the print's hue changes. When regular yellow textile pigment and blue thermochromic pigment are mixed, the result is a green coloration that turns yellow when it senses or experiences a change in temperature. Thermochromic pigment is used in plastic bottles and mugs to measure the temperature of the substance inside. Additionally, the worldwide market for thermochromic pigments is expanding as a result of the rising use of thermoplastic pigments in conjunction with unsaturated polyester and epoxy resin. Additionally, a rise in the demand for temperature-indicating solutions for pharmaceuticals, vaccines, and medical equipment is fueling the market's expansion. The demand for thermochromic pigments is being fueled by the fact that the thermochromic effect is an incredibly powerful tool for marketing and differentiating goods. Additionally, the market is expanding as a result of major players merging and buying other companies to remain competitive. For instance, LCR Hallcrest and TMC Hallcrest were purchased by SpotSee in January 2021. This strategy will give SpotSee the opportunity to grow in a new market and broaden its temperature portfolio. The market for thermochromic pigments is also anticipated to grow during the forecast period due to the rising adoption of advanced printing ink technologies. The expensive price of thermochromic inks, however, might restrain the expansion of the world market.
Based on the form, the powder segment is expected to dominate the market during the forecast period. Powdered thermochromic pigments are used extensively in a wide range of goods, including paints and coatings, ink for use on fabrics, paper, synthetic membranes, glass, ceramics, timber, and different plastics. Powdered thermochromic colors are more popular than other forms because they are simple to use. As a result, the demand for powdered thermochromic pigments has lately grown more than that of other types of pigments.
Based on the product, the leuco dyes segment is expected to hold a significant market share over the forecast period. Leuco colors aid in maintaining the color of the product by stabilizing the temperature of the product. Leuco dyes are a favored type of thermochromic pigment over liquid crystal material because they can easily change from one chemical form to another. Leuco pigments are extremely versatile and are simple to incorporate into a variety of printing techniques, including screen, offset, gravure, and others. In the extrusion molding procedure, it is also utilized. Leuco dyes are preferred over liquid crystal compounds due to these benefits.
The Asia Pacific is expected to capture the largest market share over the forecast period. The thermochromic pigments market in the region is being driven by the expanding paints and coatings industry in nations like China, India, and South Korea. 41.5 million litres of paint and coatings with a global value of $155 million were produced in the Asia-Pacific region in the year ending 2019. The market for thermochromic pigments is also being driven by government initiatives, such as those taken by China's government under the name Free Trade Initiatives (FTA's), which encourage local textile makers to increase production. The government's expenditures are also fueling the market for thermochromic pigments.
This proposed research study on the Thermochromic Pigments market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the Thermochromic Pigments market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the Thermochromic Pigments market
The impact of COVID-19 on the Thermochromic Pigments market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the Thermochromic Pigments market post-COVID will also be covered.
To give the users of this report a comprehensive view of the Thermochromic Pigments market, we have also included a competitive landscape and key innovator analysis for the Thermochromic Pigments market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the Thermochromic Pigments market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global Thermochromic Pigments market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
GLOBAL THERMOCHROMIC PIGMENTS MARKET KEY PLAYERS
OliKrom SAS
Shanghai Phichem Material Co., Ltd.
W. Sands Corp.
Fraunhofer-Gesellschaft
SFXC
Kolortek Co., Ltd.
Indestructible Paint Inc.
LCR Hallcrest, LLC
Smarol Industry Co. Ltd.
RPM International
New Prismatic Enterprise Co. Ltd.
E. I. DuPont de Nemours and Company
Sherwin-Williams Co.
The 3M Company
Hammer Packaging
NanoMatriX International Ltd.
GLOBAL THERMOCHROMIC PIGMENTS MARKET, BY FORM
Powder
Slurry
Masterbatch
Others
GLOBAL THERMOCHROMIC PIGMENTS MARKET, BY PRODUCT
Liquid Crystal Material
Leuco Dyes
GLOBAL THERMOCHROMIC PIGMENTS MARKET, BY TECHNOLOGY
Reversible
Irreversible
GLOBAL THERMOCHROMIC PIGMENTS MARKET, BY INDUSTRY VERTICAL
Packaging
Textile
Paper Industry
Building & Construction
Printing
Advertising
Electricals & Electronics
Consumer Goods & Home Appliances
Sporting Goods & Toys
Others
GLOBAL THERMOCHROMIC PIGMENTS MARKET, BY APPLICATION
Plastic Products
Paintings and Coatings
Inks
Others
GLOBAL THERMOCHROMIC PIGMENTS MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA