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Global Thermochromic Materials Market 2017-2021

Global Thermochromic Materials Market 2017-2021

About Thermochromic Materials

With changes in temperature, thermochromic materials also change their color. These materials are used in pigments, thermometers, food quality indicators, kettles, test strips on batteries, and textiles. These materials are also used in food packaging. They are generally categorized into two types: liquid crystals and leuco dyes. Liquid crystals are used in liquid crystal display (LCD) screens, thermometers, and mood rings. Leuco dyes are less expensive than liquid crystals and are used in a wide range of applications such as quality control, product labeling, advertising and promotional applications, toys, game pieces, and packaging.

Technavio’s analysts forecast the global thermochromic materials market to grow at a CAGR of 6.77% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global thermochromic materials market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of thermochromic materials.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Thermochromic Materials Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Hali Pigment
  • LCR Hallcrest
  • Matsui International
  • QCR Solutions
Other prominent vendors
  • Good Life Innovations
  • Gem'innov
  • Chromatic Technologies
  • SFXC
  • SMAROL INDUSTRY
  • NCC
Market driver
  • Increasing demand for thermochromic material as food quality indicators
  • For a full, detailed list, view our report
Market challenge
  • Product limitations
  • For a full, detailed list, view our report
Market trend
  • Emergence of smart materials
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2022 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Technavio Announces the Publication of its Research Report – Global Thermochromic Materials Market 2017-2021

Technavio recognizes the following companies as the key players in the global thermochromic materials market: Hali Pigment, LCR Hallcrest, Matsui International, and QCR Solutions

Other Prominent Vendors in the market are: Good Life Innovations, Gem'innov, Chromatic Technologies, SFXC, SMAROL INDUSTRY, and NCC.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Emergence of smart materials. Smart materials are used in a wide range of applications. Hence, their properties can be changed by external conditions, like electricity, light, temperature. Smart materials are used in aerospace, manufacturing, and healthcare. These materials are usually referred as smart because these materials are programmed by material composition. Its micro-structures are modified, especially processed, so that, they can adapt to various levels of stimuli in a controlled manner. Smart materials are widely used in automotive industry for automatic heat and light control.”

According to the report, one of the major drivers for this market is Increasing demand for thermochromic material as food quality indicators. The demand for high-quality food products from consumers have led to the development of a different type of food quality indicators. These indicators are used to indicate consumers about the food's condition inside the packaging by changing color. The indicators are generally placed inside the sealed package in order to alert consumers about the chemical changes in the product. Scientists have developed indicators to identify products, which are unsafe for consumption. For instance, the Food and Drug Administration's (FDA) National Center for Toxicological Research (NCRT) identified volatile amines as the cause of seafood spoilage. Therefore, the scientists have developed a food quality indicator to detect the level of amines that cause the seafood spoilage. Thermochromic materials are used to check the quality of frozen foods such as meat and dairy products.

Further, the report states that one of the major factors hindering the growth of this market is Product limitations. Although thermochromic material can be used in a wide variety of industries, there are a few drawbacks to their use as well. Thermochromic inks are sensitive to UV light. In addition, they have less life in the printed form if exposed to high temperatures and light over long periods of time. For instance, thermochromic liquid crystals need specific printing equipment. They are also expensive to manufacture. Factors like sensitivity to UV radiation, high temperature, and some chemicals or solvents pose a negative impact on thermochromic material's lifespan. In addition, thermochromic inks are water-based flexographic or gravure inks, which hinder the market growth. These factors will hamper the market growth of thermochromic materials during the forecast period. Therefore, thermochromic material manufacturers are investing heavily in R&D activities to overcome the challenges of the market and to produce new and improved products.

Companies Mentioned

Hali Pigment, LCR Hallcrest, Matsui International, QCR Solutions, Good Life Innovations, Gem'innov, Chromatic Technologies, SFXC, SMAROL INDUSTRY, and NCC.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
      • Table Types of thermochromic materials
  • Market landscape
    • Market ecosystem
      • Table Parent market
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market size and forecast 2016-2021
      • Table Global thermochromic materials market 2016-2021 ($ millions)
      • Table Global thermochromic materials market - Year-over-year growth 2017-2021 (% share)
  • Five forces analysis
    • Table Five forces analysis
  • Market segmentation by application
    • Segmentation by application
      • Table Global thermochromic materials market by application 2016-2021 (% share)
    • Global thermochromic materials market by pigments
      • Table Global thermochromic materials market by pigments 2016-2021 ($ millions)
      • Table Global thermochromic materials market by pigments - Year-over-year growth 2017-2021 (% share)
    • Global thermochromic materials market by thermometers
      • Table Global thermochromic materials market by thermometers 2016-2021 ($ millions)
      • Table Global thermochromic materials market by thermometers - Year-over-year growth 2017-2021 (% share)
    • Global thermochromic materials market by food quality indicators
      • Table Global thermochromic materials market by food quality indicators 2016-2021 ($ millions)
      • Table Global thermochromic materials market by food quality indicators - Year-over-year growth 2017-2021 (% share)
    • Global thermochromic materials market by papers
      • Table Global thermochromic materials market by papers 2016-2021 ($ millions)
      • Table Global thermochromic materials market by papers - Year-over-year growth 2017-2021 (% share)
    • Global thermochromic materials market by others
      • Table Global thermochromic materials market by others 2016-2021 ($ millions)
      • Table Global thermochromic materials market by others - Year-over-year growth 2017-2021 (% share)
    • Market opportunity by application
      • Table Market opportunity by application
  • Market segmentation by product
    • Segmentation by product
      • Table Market segmentation by product 2016
  • Regional landscape
    • Geographical segmentation
      • Table Global thermochromic materials market by geography 2016-2021 (% share)
    • Thermochromic materials market in North America
      • Table Thermochromic materials market in North America 2016-2021 ($ millions)
      • Table Thermochromic materials market in North America - Year-over-year growth 2017-2021 (% share)
    • Thermochromic materials market in APAC
      • Table Thermochromic materials market in APAC 2016-2021 ($ millions)
      • Table Thermochromic materials market in APAC - Year-over-year growth 2017-2021 (% share)
    • Thermochromic materials market in Europe
      • Table Thermochromic materials market in Europe 2016-2021 ($ millions)
      • Table Thermochromic materials market in Europe - Year-over-year growth 2017-2021 (% share)
    • Thermochromic materials market in ROW
      • Table Thermochromic materials market in ROW 2016-2021 ($ millions)
      • Table Thermochromic materials market in ROW - Year-over-year growth 2017-2021 (% share)
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
  • Market trends
    • Emergence of smart materials
    • Emergence of intelligent packaging
    • Growth in medical devices driven by expanding population
  • Vendor landscape
    • Competitive landscape
    • Key market vendors
      • Table Key market vendors
    • Other prominent vendors
  • Vendor analysis
    • Vendor overview
    • Hali Pigment
    • LCR Hallcrest
      • Table Products offered by LCR Hallcrest
    • Matsui International
      • Table Products offered by Matsui International
    • QCR Solutions
      • Table Products offered by QCR Solutions
  • Appendix
    • List of abbreviations
  • Explore Technavio

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