Thermochromic Materials Market Size, Share, Growth, Trends, Analysis and Forecast To 2025

The latest market report published by Credence Research, Inc. “Thermochromic Materials MarketGrowth, Future Prospects, and Competitive Analysis, 2017 – 2025,” the global market for thermochromic materials is expected to grow by 9.1 percent during the forecast period from 2017 to 2025.

Market Insights

The global market for thermochromic materials is experiencing growth mainly due to an increase in demand for innovative temperature-based products and the ability to change color for functional applications. In addition, increased demand for thermochromic pigments in paints and coatings, together with increased demand for thermochromic materials in food quality indicators to determine the quality of dairy products and frozen meat, is another factor driving the market growth.

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Reversible technology is preferable to irreversible technology. But achieving reversibility by maintaining the stability of the solution is a complicated process that has hindered the growth of the market.

However, various R&D projects are undertaken by manufacturers to develop stable reversible materials, which are likely to increase the demand for reversible materials from the various application industries.

Competitive Insights

At present, the market is in a nascent stage. Most of the manufacturers are attempting to achieve full commercialization. The market is monopolistic in nature and characterized by the presence of a few key players. Manufacturers are catering to their local markets. Moreover, entry barriers are high for new entrants.

List of Companies Covered:

  • SFXC
  • Indestructible Paints Limited
  • Fraunhofer IAP
  • W. Sands Corp.
  • Good Life Innovations Ltd
  • Olikrom
  • Kolortek Co., Ltd.
  • LCR Hallcrest LLC
  • New Prismatic Enterprises Co. Ltd. (NCC)
  • Smarol Industry Co. Ltd.

Key Trends

  • Increasing R & D projects undertaken by manufacturers
  • Rising demand from end-use application
  • The Asia Pacific offers huge market potential

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Market Segmentation

By Type

  • Reversible
  • Irreversible

By Application Type

  • Pigments
  • Thermometers
  • Food Quality Indicators
  • Papers
  • Others

By Geography Segment Type

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

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