The global thermochromic pigments market was valued at $428.3 million in 2019, and is projected to reach $595.0 million by 2027, growing at a CAGR of 6.2% from 2020 to 2027.
Thermochromic pigments are classified under specialty pigments that have superior property of color changing with a change in temperature. Thermochromic pigments are insoluble materials incorporated by physically mixing them with the medium. They have a high tinting strength as compared to the material in which they are added. These pigments serve numerous our main functions: impart color to the medium, change color according to temperature, hide the substrate and efface the existing color, and enhance the strength of the paint film.
Depending upon the type of thermochromism, the global thermochromic pigments market is segmented into reversible and irreversible thermochromic pigments. In term of application, the thermochromic pigments are widely used in paint & coating, ink printing, and plastic products to either show the temperature change or to increase aesthetics of the product. The usage of thermochromic pigments based ink can be usually seen in beer wrappers indicating the coldness of beer or sticker on the pizza delivery boxes indicating hotness of the pizza.
Thermochromic pigments, being an innovation-driven industry has witnessed an increase in R&D activities. Increase in competition in the end-user markets has led to product innovation. The market players have heavily invested in R&D activities to introduce and develop new products with more advanced and new features.
The global thermochromic pigments market is segmented on the basis of type, end-use industry and region. Depending on type, the thermochromic pigments market is divided into reversible thermochromic pigments and irreversible thermochromic pigments. On the basis of end-use industry, the global thermochromic pigments market segmented into printing ink, textile, paints and coatings, plastic polymer, food & beverages, paper, cosmetics, and others. Region wise, the thermochromic pigments market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players in the market are OliKrom, QCR Solutions Corp, Matsui Color, Devine Chemicals Ltd, New Color Chemical Limited, CTI and Flint Group, LCR Hallcrest, Hali Industrial co., ltd, KOLORTEK, SMAROL INDUSTRY CO. LTD, and among others. Other companies in accordance with thermochromic pigments market are 3M, Sherwin Williams, Hammer Packaging, Corp., NanoMatriX International Limited, Clariant, Special Effects and Coatings, and others.
KEY BENEFITS FOR STAKEHOLDERS
u The report provides an in-depth analysis of the thermochromic pigments market forecast along with the current and future market trends
u This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period
u Porter's five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global thermochromic pigments industry for strategy building
u A comprehensive thermochromic pigments market analysis covers factors that drive and restrain market growth
u The qualitative data in this report aims on market dynamics, trends, and developments
KEY MARKET SEGMENTS
By Type
- Reversible Thermochromic Pigment
- Irreversible Thermochromic Pigment
By End-use Industry
- Printing Ink
- Textile
- Paints and Coatings
- Plastic & Polymer
- Food & Beverages
- Paper
- Cosmetic
- Others
By Region
o North America
- U.S.
- Canada
- Mexico
o Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Europe
o Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
o LAMEA
- Brazil
- South Africa
- LAMEA
KEY MARKET PLAYERS
- OliKrom
- QCR Solutions Corp
- Matsui Color
- Devine Chemicals Ltd
- New Color Chemical Limited
- RPM International
- DuPont
- CTI and Flint Group
