The Thermochromic Materials Market is projected to grow from USD 1.3 billion in 2019 to USD 2.1 billion by 2024, at a CAGR of 9.5%. The high growth of niche applications consuming thermochromic materials across the world, coupled with efficient and superior properties of thermochromic materials, is driving the market.
Browse 68 market data Tables and 29 Figures spread through 112 Pages and in-depth TOC on "Thermochromic Materials Market by Material (Leuco Dyes, Liquid Crystals, Pigments), End-use industry (Packaging, Printing & Coating, Medical, Textile), Region (Europe, North America, APAC, South America, Middle East & Africa) - Global Forecast to 2024"
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Europe is projected to be the largest market during the forecast period.
On the basis of region, the thermochromic materials market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. Europe was the largest market for thermochromic materials, which accounted for largest share, in terms of value, in 2018. The thermochromic materials market in Europe is segmented into Germany, France, the UK, Italy, Spain, and Rest of Europe. The growth of the thermochromic materials market in the region is attributed to the demand from the packaging and printing & coating end-use industries. The smart packaging industry in the countries of Western Europe, including France and the UK is growing rapidly, which is fueling the demand for thermochromic materials.
High economic growth rate and growing printing & coating industry in China, Japan, and India are projected to lead the thermochromic materials market in APAC during the forecast period.
APAC is the fastest-growing market, in terms of both production and demand. Higher domestic demand, easy availability of raw materials, and low-cost labor make APAC the most preferred destination for the manufacturers of thermochromic materials. The use of thermochromic materials as an important chemical intermediate in various applications such as food & beverage packaging, medical indicators, and thermal printing is driving the market in China. APAC is emerging as a leading consumer of thermochromic materials due to the increasing demand from domestic as well as international markets.
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The key players in the thermochromic materials market include OliKrom (France), LCR Hallcrest (US), Chromatic Technologies (CTI) (US), Matsui International Company (US), New Prisematic Enterprise (Taiwan), Smarol Industry (China), GEMINNOV (France), Hali Industrial (China), Kolorjet (India), and Kolortek (China).
Chromatic Technologies (US) is the world-wide leader in the manufacturing of thermochromic inks and smart materials. It is engaged in the production of temperature inks, sunlight inks, reveal inks, glow-in-the-dark inks, security inks, trigger inks, color-changing plastics, cold-chain alerts indicator, high-pressure pasteurization (HPP) indicators, and others. CTI is an innovation company that provides solutions to the world’s major brands and package printers. It focuses on aggressive R&D program that successfully allows CTI to provide custom innovation incubators for major brands worldwide.
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The high growth of niche applications consuming thermochromic materials across the world, coupled with efficient and superior properties of thermochromic materials, is driving the market.Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=253699772The key players in the thermochromic materials market include OliKrom (France), LCR Hallcrest (US), Chromatic Technologies (CTI) (US), Matsui International Company (US), New Prisematic Enterprise (Taiwan), Smarol Industry (China), GEMINNOV (France), Hali Industrial (China), Kolorjet (India), and Kolortek (China).Chromatic Technologies (US) is the world-wide leader in the manufacturing of thermochromic inks and smart materials.
It is engaged in the production of temperature inks, sunlight inks, reveal inks, glow-in-the-dark inks, security inks, and trigger inks, color-changing plastics, cold-chain alerts indicator, high-pressure pasteurization (HPP) indicators, and others.
CTI is an innovation company that provides solutions to the world’s major brands and package printers.
It focuses on aggressive R program that successfully allows CTI to provide custom innovation incubators for major brands worldwide.
It offers temperature labels, healthcare thermometers, permanent color change pigments & coatings, dishwasher disinfection labels, custom labels, color change pigments, cold chain integrity labels, food display temperature labels, and others.
The company strives to develop solutions that help its customers gain a competitive advantage.
