New York City, 11 February 2019: The Global Thermochromic Materials Market is
anticipated to reach around USD 8.1 billion by 2026 according to a new research
published by Polaris Market Research. In 2017, the paints and pigments segment
dominated the global market, in terms of revenue. In 2017, Europe accounted for
the majority share in the global thermochromic materials market.
The increase
in the adoption of smart textiles drives the growth of this thermochromic
materials market. Growing use in inks, paints, and pigments further supports
the market growth. There has been an increasing adoption of smart and
intelligent packaging, which has increased the demand for thermochromic materials
in food quality indicators, and labeling. There has been increasing use of
thermochromic materials in applications such as toys, baby diapers, and battery
gauges, which has further increased its demand worldwide. Growing demand from
emerging economies, increasing applications, and technological advancements are
factors expected to fuel the thermochromic materials market growth during the
forecast period.
Europe
dominated the global thermochromic materials market during the forecast period.
A significant rise in the demand from the food and beverage sector to determine
the quality of packaged food products such as frozen food and meat supports the
growth of the market in the region. The increasing adoption of smart and
intelligent packaging has resulted in high demand of thermochromic materials in
the region. Asia-Pacific is expected to grow at the fastest rate during the
forecast period. Increasing demand from the textile and automotive industries
augments the thermochromic materials market growth in the region. Leading
global players are expanding their presence in developing nations of China,
Japan, and India to tap the growth opportunities offered by these countries.
Key Vendors:
The
companies operating in the thermochromic materials market include Shanghai Caison
Color Material Chem. Co., Ltd., Indestructible Paints Limited, New Color
Chemical Co., Hali Industrial Co. Ltd., QCR Solutions, Fraunhofer IAP, Kolortek
Co., Ltd., LCR Hallcrest LLC, and New Prismatic Enterprises Co. Ltd. These
companies launch new products and collaborate with other market leaders to
innovate and launch new products to meet the increasing needs and requirements
of consumers.
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