Thermochromic Materials Market Overview - 2027

Thermochromic materials canalter crystalline structure and phase, thus resulting in the conversion of thermal radiation into chromic radiation that tends to impart color. These materials are mainly used in the industrial sector to determine the temperature distribution in the chemical equipment, such as heat exchanger and reactor. Leuco dyes, liquid crystal, and pigments are different types of thermochromic materials. Leuco dyes, also known as organic materials, are composed of color former, developer, and solvent that is responsible to impart the change in color. Liquid crystal thermochromic materials are used in thermometer and LCD screens, and leuco dyes are tough and less expensive when contrasted with other types of thermochromic materials.

Surge in usage of thermochromic materials in different applications, such as security inks, thermometer, OLED screens, and body armors are expected to drive the market growth. Further, application of thermochromic materialsas an indicator to determine the quality of the frozen meat and dairy productsis anticipated to fuel the demand. In addition, thermoelectric materials are widely used in smart textiles owing to its ability to change color with temperature variation. This is expected to propel the growth of the market during the forecast period. However, thermochromic materials are prone to degrade in the presence of UV-rays, which is predicted to hamper the market growth. Nonetheless, usage of thermochromic materials in the construction segment to provide thermal roof performance is anticipated to act as an opportunity in the upcoming period.

The thermochromic materials market is segmented by type, material, application, end user and region. By type, the market is bifurcated into reversible thermochromic material and irreversible thermochromic materials. By material, the market is fragmented into leuco dyes, liquid crystal, pigments, and others. By application, the market is categorized into security inks, POS systems, body armors, thermometer, LCD screen, and others. By end user, the market is divided into packaging, printing & coating, medical, textile, construction, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East and Africa).

Some of the key players operating in the global thermochromic materials market are Shanghai Caison Color Material Chem. Co., Ltd., Indestructible Paints Limited, New Color Chemical Co., Hali Industrial Co. Ltd., Fraunhofer IAP, Kolortek Co., Ltd., LCR Hallcrest LLC, New Prismatic Enterprises Co., Ltd., Chromatic Technologies Ltd., Matsui International Co., Inc. and others.

Key Benefits for Stakeholders:

• The global thermochromic materials market size has been analyzed across four major regions.

• Porter’s five force analysis helps to analyze the potential of buyers & suppliers and the competitive scenario for strategy building.

• The report outlines the current market trends and future scenario of the market size from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets. 

• Major countries in each region have been mapped according to their revenue contribution to the regional market.

• The key drivers, restraints, opportunities, and trends along with their detailed impact analysis are elucidated in the study.

• The global thermochromic materials market analysis covers in-depth information of the major industry participants.

Scope of the Report:

Key Market Segmentation:

Questions answered in the global thermochromic materials market research report:

• What is the market during the forecast period?

• What will be the global thermochromic materials market size from 2020 to 2027?

• Who are the leading manufacturing companies in the market?

• How the major current trends will shape the global thermochromic materials market in the future?

• What are the driving factors and opportunities in the market?

• Which will be the niches at which players profiling with thorough plans, financials, and recent advancements should set a presence? 

• Why are some of the segments flourishing at the highest growth rate while others experience a steady growth?

• What are the conclusions of the report?