Global Thermochromic Pigment Market-Industry Analysis and Forecast (2019-2027)
Global Thermochromic Pigment Market was valued US$ XX Mn in 2019 and is expected to grow around US$ XX Mn by 2027, at a CAGR of around 5.4% during the forecast period.
Global Thermochromic Pigment Market
The report study has analyzed the revenue impact of COVID-19 pandemic on the sales revenue of market leaders, market followers, and market disrupters in the report, and the same is reflected in our analysis.
Growing sales in the food & beverage market is expected to surge the demand in the thermochromic pigments market, thanks to its application in the packaging of many foods & beverages items. Such as, the product is used on pizza packages to fix the temperature of the food. For example, if the flame logo on the pizza box is orange, it means the pizza is hot. Therefore, this kind of feature supports reaching maximum customer satisfaction. In recent times, application-based delivery services have improved exponentially, mainly in emerging regions. This would be a noteworthy growth factor in the thermochromic pigments market.
The R&D activities in the market will be an additional growth driver in the future. The rising application of this product and the benefits offered by it have led to an increase in its demand. The product is used to change the color of fabrics which changes with change in temperature. The product is also implemented in sports and leisurewear, household textiles, like bedding, which would help in upholding the temperature. This would help in imitating more sunlight and the demand for air conditioning the house will decrease. Accordingly, more energy will be saved. Such advanced applications could help in supplementing the thermochromic pigments market growth in the current future.
On the other hand, the high cost of thermochromic inks and poor lightfastness is expected to hinder the market growth during the forecast period.
By type, the reversible thermochromic pigment segment held the largest market share of the global market in 2019, this is mainly because of the several applications across the packaging industry, like manufacturing polymers and coatings industry.
Region-wise, North America is expected to hold the largest market share of the market by 2027, thanks to the existence of numerous producers in the region and the developments in the smart packaging sector in this region. The smart packaging sector is still a growing sector and is expected to be a substantial factor driving the market in the future. The Asia Pacific is expected to show a high rate of growth in the forecast period, because of its thriving packaging industry. The availability of profitable factors of production will invite more players to set up their production plants in this region. This would make it a noteworthy regional market in the upcoming years. The Chinese Government has invested in several industries, including construction materials, automobiles, textiles, shipbuilding, and others, which are key consumers of pigments. Hence, pigment production in China has improved at a faster rate and is expected to show development in the current future, which would make it a profitable market for thermochromic pigment.
The objective of the report is to present a comprehensive analysis of the Global Thermochromic Pigment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Thermochromic Pigment Market dynamics, structure by analyzing the market segments and project the Global Thermochromic Pigment Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Thermochromic Pigment Market make the report investor’s guide.
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Scope of the Global Thermochromic Pigment Market
Global Thermochromic Pigment Market, By Type
Global Thermochromic Pigment Market, By Application
• Printing Ink
• Paints and Coatings
• Plastic & Polymer
• Food & Beverages
Global Thermochromic Pigment Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Thermochromic Pigment Market
• Indestructible Paint Inc.
• W. Sands Corp.
• OliKrom SAS
• Kolortek Co., Ltd.
• Shanghai Phichem Material Co., Ltd.
• LCR Hallcrest, LLC
• Smarol Industry Co. Ltd.
• New Prismatic Enterprise Co. Ltd.
• RPM International
• E. I. DuPont de Nemours and Company
• The 3M Company
• Sherwin-Williams Co.
• Hammer Packaging
• NanoMatriX International Ltd.
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