Thermochromic Pigment Market, Share, Demand, Key Player, Analysis, Type and Business Opportunities, Current Trends, Forecast by 2030

Thermochromic Pigment Market Research Report: by Product (Liquid Crystal Material, Leuco Dyes), Pigment Type (Reversible Thermochromic Pigments, Irreversible Thermochromic Pigments), End-Use Industry (Printing Ink), Region - Forecast to 2030

Thermochromic Pigments Market Overview

Thermochromic Pigment Market is expected to reach USD 2,500 million with a healthy CAGR of 5.1% by the end of 2030.

Thermochromic pigments are materials which change color with change in temperature. These pigments are temperature-sensitive which use liquid crystal technology which leads to change in the color of liquid crystals. These pigments are widely used in traffic signs, printing inks, fire-fighting equipment, emergency signs, novelty decorations, path marking, instruments and controls.

By product, the global thermochromic pigment market has been classified into liquid crystal material, leuco dyes, and inorganic materials. The liquid crystal material segment accounted for the largest market share in 2017 and is expected to grow at a high CAGR during the forecast period owing to its consumption in precision applications as their responses can be engineered at accurate temperatures. They are widely used in electronics and in mood rings.

Based on pigment type, the global thermochromic pigment market report has been segmented into reversible
thermochromic pigments and irreversible thermochromic pigments. The reversible thermochromic pigments accounted for the largest market share in 2017 in terms of value, owing to its reversible color changing property and find applications in decorative and aesthetic products. The irreversible thermochromic pigments segment is expected to be the largest in 2017 in terms of volume, due to its low cost. It can be used only once due to its irreversible nature and is used in detecting the temperature of engine components, furnaces, house appliances, and high-temperature ovens.

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Competitive Landscape:

• RPM International Inc. (US),
• 3M (US),
• Sherwin Williams (US),
• Hammer Packaging, Corp. (US),
• NanoMatriX International Limited (China),
• Clariant (Switzerland),
• OliKrom (France),
• QCR Solutions Corp (UK),
• LCR Hallcrest LLC (US),
• Gem'innov (France),
• Smarol Industry Co. Ltd. (China), and
• Special Effects and Coatings. (UK)

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Thermochromic Pigments Market Segmentation

The global thermochromic pigment market overview has been segmented on the basis of product, pigment type, end-use industry, and region.

On the basis of product, the global thermochromic pigment industry has been categorized into liquid crystal material, leuco dyes, and inorganic materials.

Based on pigment type, the global thermochromic pigment market has been bifurcated into reversible thermochromic pigments and irreversible thermochromic pigments.

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Thermochromic Pigments Market Regional Analysis

Geographically, the global thermochromic pigment market share has been studied across the five regions —Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa.

The North American market witnessed the largest market share in 2017 owing to the rising consumption of the product in printing ink applications. Smart packaging and technical textiles are some other applications which utilise thermochromic pigments in the region. The US is the major contributor in the region due to the growing demand for thermochromic pigments in smart textiles and food and beverages segments. The Asia-Pacific market is expected to be the fastest-growing market during the forecast period owing to the high consumption of the product in textiles; and paints & coating industry.

Recent Development

August 2021- A group of South Korean researchers has developed a new artificial camouflage technology. The basis of the research is the chameleon’s properties of adopting the color of its surroundings. Chameleons change their color because of a particular layer of cells under their skin called iridophores. Researchers Hyeonseok Kim, Seung Hwan Ko, Sukjoon Hong, Phillip Won, Kyun Kyu Kim, and Joonhwa Choi have copied this nature to produce a robot chameleon capable of changing its colors. Artificial camouflage refers to a functional mimicry of natural camouflage, which can be seen in many species. The researchers walked away from conventional microfluidic devices to take a completely electric approach. In the prototype, the robot uses color sensors, thermochromic materials, and silver nanowire-made tiny heaters, which change color on exposure to different temperatures with the help of thermochromic liquid crystal ink. The robot has color sensors and a variety of pre-programmed patterns that help it blend in.

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TABLE OF CONTENTS

1 Executive Summary

2 Market Introduction
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 List Of Assumptions
2.4 Markets Structure

3 Market Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model

4 Market Dynamics Of Global Thermochromic Pigment Market
4.1 Introduction
4.2 Drivers
4.3 Restraints
4.4 Opportunities
4.5 Challenges
4.6 Trends/Technology

5 Market Factor Analysis Of Global Thermochromic Pigment Market

5.1 Supply Chain Analysis
5.1.1 Raw Material Suppliers
5.1.2 Manufacturers/Producers
5.1.3 Distributors/Retailers/Wholesalers/E-Commerce
5.1.4 End–User
5.2 Porter’s Five Forces Analysis
5.2.1 Threat Of New Entrants
5.2.2 Bargaining Power Of Buyers
5.2.3 Bargaining Power Of Suppliers
5.2.4 Threat Of Substitutes
5.2.5 Intensity Of Competitive Rivalry
5.3 Pricing Analysis

6. Global Thermochromic Pigment Market, By Product

6.1 Introduction
6.2 Liquid Crystal Material
6.2.1 Market Estimates & Forecast, 2020−2027
6.2.2 Market Estimates & Forecast, By Region, 2020−2027
6.3 Leuco Dyes
6.3.1 Market Estimates & Forecast, 2020−2027
6.3.2 Market Estimates & Forecast, By Region, 2020−2027
6.4 Inorganic Materials
6.4.1 Market Estimates & Forecast, 2020−2027
6.4.2 Market Estimates & Forecast, By Region, 2020−2027

7. Global Thermochromic Pigment Market, By Pigment Type

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