Market Research Logo

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

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

“The thermochromic materials market is projected to register a CAGR of 9.5%, in terms of value, between 2019 and 2024.”
The market size of thermochromic materials is estimated at USD 1.3 billion in 2019 and is projected to reach USD 2.1 billion by 2024, at a CAGR of 9.5%. The market growth is attributed to the rising demand for thermochromic materials from applications such as food & beverage packaging, cosmetic & baby products packaging, pharmaceuticals packaging, and other smart packaging, among others. However, the high cost of thermochromic materials is restraining the growth of the market. In addition, leuco dyes shortage in China is the major challenge for the market growth.

“The leuco dyes material segment is projected to register the highest CAGR during the forecast period.”
Leuco dyes-based thermochromic materials are specialized dynamic materials that change colour when exposed to different temperatures. They exhibit less accurate temperature response than liquid crystals. They are majorly used in combination with some other pigments. This produces a color change of the base pigment and the color of the pigment combined with leuco dyes. Leuco dyes is the fastest-growing segment of the thermochromic materials market, by material and finds use in an array of end-use industries such as packaging, printing & coating, and medical.

“Printing & coating is projected to be the fastest-growing end-use industry of thermochromic materials during the forecast period.”
Printing & coating is the largest end-use industry of thermochromic materials. Thermochromic materials change color with the variation in temperature, which promotes their use in temperature-sensitive color coating. Thermochromic materials are also widely used in security printing applications such as vouchers, certificates, tickets, tax stamps, stock certificates, tamper-evident labels, passports and others. The property of thermochromic materials to change its color with fluctuation in temperature reversibly/irreversibly promotes their demand in several anti-counterfeiting applications.

“APAC is projected to be the fastest-growing thermochromic materials market during the forecast period.”
The APAC market is projected to register the highest growth for thermochromic materials, in terms of value and volume, owing to the rapid development of the printing & coating industry in the region. The growth is backed by the region’s favorable manufacturing conditions and the promising textile industry. 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 the country. Emerging economies such as India, China, and South Korea have been the major revenue pockets for the APAC market. The availability of inexpensive raw materials, labor, and land coupled with a moderately stringent regulatory framework are some of the factors that have aided the region to emerge as one of the leaders in the thermochromic materials market. These factors are fueling the thermochromic materials market in the APAC region.

This study was validated through primary interviews conducted with various industry experts, worldwide. The primary sources were divided into three categories, namely, company type, designation, and region.

By Company Type- Tier 1: 57%, Tier 2: 29%, and Tier 3: 14%
By Designation-C Level: 43%, Director Level: 35%, and Others: 22%
By Region- APAC: 40% Europe: 30%, North America: 19%, Middle East & Africa: 6%, and South America: 5%

The report profiles several leading players of the thermochromic materials market that include OliKrom (France), LCR Hallcrest (US), Chromatic Technologies (CTI) (US), Matsui International Company (US), New Prisematic Enterprise (Taiwan), Smarol Industry (China), GEM'INNOV (France), Hali Industrial (China), Kolorjet (India), and Kolortek (China).The report also includes detailed information about various growth strategies adopted by these key players to strengthen their position in the thermochromic materials market.

Research Coverage:
The report offers insights on thermochromic materials used in various end-use industries across regions. It aims at estimating the size of the thermochromic materials market during the forecast period and projects the future growth of the market across the type, material, end-use industry, and region segments. The report also includes an in-depth competitive analysis of the key players in the thermochromic materials market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help market leaders/new entrants in the thermochromic materials market by providing them with the closest approximations of the revenues for the overall market and its various sub-segments. This report will help stakeholders obtain a better understanding of the competitive landscape and gain insights to enhance their businesses and devise suitable market strategies. The report will also help stakeholders understand the pulse of the market and help acquire information on key drivers, restraints, challenges, and opportunities affecting the growth of the thermochromic materials market.


  • INTRODUCTION
    • OBJECTIVES OF THE STUDY
    • MARKET DEFINITION
    • MARKET SCOPE
      • THERMOCHROMIC MATERIALS MARKET SEGMENTATION
      • REGIONS COVERED
      • YEARS CONSIDERED FOR THE STUDY
    • CURRENCY
    • UNIT CONSIDERED
    • STAKEHOLDERS
  • RESEARCH METHODOLOGY
    • RESEARCH DATA
      • SECONDARY DATA
      • PRIMARY DATA
    • MARKET SIZE ESTIMATION
      • BOTTOM-UP APPROACH
      • TOP-DOWN APPROACH
    • DATA TRIANGULATION
    • ASSUMPTIONS
    • LIMITATIONS
  • EXECUTIVE SUMMARY
  • PREMIUM INSIGHTS
    • ATTRACTIVE OPPORTUNITIES IN THE THERMOCHROMIC MATERIALS MARKET
    • THERMOCHROMIC MATERIALS MARKET, BY MATERIAL
    • THERMOCHROMIC MATERIALS MARKET, BY COUNTRY
    • EUROPE: THERMOCHROMIC MATERIALS MARKET, BY END-USE INDUSTRY AND COUNTRY
  • MARKET OVERVIEW
    • INTRODUCTION
    • MARKET DYNAMICS
      • DRIVERS
      • RESTRAINTS
      • OPPORTUNITIES
      • CHALLENGES
    • PORTER'S FIVE FORCES ANALYSIS
      • BARGAINING POWER OF SUPPLIERS
      • BARGAINING POWER OF BUYERS
      • THREAT OF NEW ENTRANTS
      • THREAT OF SUBSTITUTES
      • INTENSITY OF COMPETITIVE RIVALRY
  • THERMOCHROMIC MATERIALS MARKET, BY TYPE
    • INTRODUCTION
      • Table THERMOCHROMIC MATERIALS MARKET SIZE, BY TYPE, 2017-2024 (USD MILLION)
      • Table THERMOCHROMIC MATERIALS MARKET SIZE, BY TYPE, 2017-2024 (TON)
    • REVERSIBLE
    • IRREVERSIBLE
  • THERMOCHROMIC MATERIALS MARKET, BY MATERIAL
    • INTRODUCTION
      • Table THERMOCHROMIC MATERIALS MARKET SIZE, BY MATERIAL, 2017-2024 (USD MILLION)
      • Table THERMOCHROMIC MATERIALS MARKET SIZE, BY MATERIAL, 2017-2024 (TON)
    • LEUCO DYES
    • LIQUID CRYSTALS
    • PIGMENTS
    • OTHERS
      • VANADIUM OXIDE (VO2)
      • COPPER (I)-IODIDE
  • THERMOCHROMIC MATERIALS MARKET, BY END-USE INDUSTRY
    • INTRODUCTION
      • Table THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
      • Table THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
    • PACKAGING
    • PRINTING & COATING
    • MEDICAL
    • TEXTILE
    • INDUSTRIAL
    • OTHERS
  • THERMOCHROMIC MATERIALS MARKET, BY REGION
    • INTRODUCTION
      • Table THERMOCHROMIC MATERIALS MARKET SIZE, BY REGION, 2017-2024 (USD MILLION)
      • Table THERMOCHROMIC MATERIALS MARKET SIZE, BY REGION, 2017-2024 (TON)
    • NORTH AMERICA
      • Table NORTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (TON)
      • Table NORTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
      • Table NORTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • US
        • Table US: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table US: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • CANADA
        • Table CANADA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table CANADA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • MEXICO
        • Table MEXICO: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table MEXICO: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
    • EUROPE
      • Table EUROPE: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table EUROPE: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (TON)
      • Table EUROPE: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
      • Table EUROPE: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • GERMANY
        • Table GERMANY: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table GERMANY: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • FRANCE
        • Table FRANCE: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table FRANCE: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • UK
        • Table UK: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table UK: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • ITALY
        • Table ITALY: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table ITALY: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • SPAIN
        • Table SPAIN: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017- 2024 (USD THOUSAND)
        • Table SPAIN: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • REST OF EUROPE
        • Table REST OF EUROPE: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table REST OF EUROPE: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
    • APAC
      • Table APAC: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table APAC: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (TON)
      • Table APAC: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD MILLION)
      • Table APAC: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • CHINA
        • Table CHINA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table CHINA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • JAPAN
        • Table JAPAN: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017- 2024 (USD THOUSAND)
        • Table JAPAN: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • INDIA
        • Table INDIA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table INDIA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • SOUTH KOREA
        • Table SOUTH KOREA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table SOUTH KOREA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • REST OF APAC
        • Table REST OF APAC: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table REST OF APAC: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
    • MIDDLE EAST & AFRICA
      • Table MIDDLE EAST & AFRICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table MIDDLE EAST & AFRICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (TON)
      • Table MIDDLE EAST & AFRICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
      • Table MIDDLE EAST & AFRICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • SAUDI ARABIA
        • Table SAUDI ARABIA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table SAUDI ARABIA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • SOUTH AFRICA
        • Table SOUTH AFRICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table SOUTH AFRICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • REST OF MIDDLE EAST & AFRICA
        • Table REST OE MIDDLE EAST & AFRICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table REST OF MIDDLE EAST & AFRICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
    • SOUTH AMERICA
      • Table SOUTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (USD MILLION)
      • Table SOUTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY COUNTRY, 2017-2024 (TON)
      • Table SOUTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
      • Table SOUTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • BRAZIL
        • Table BRAZIL: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table BRAZIL: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • ARGENTINA
        • Table ARGENTINA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table ARGENTINA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
      • REST OF SOUTH AMERICA
        • Table REST OF SOUTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (USD THOUSAND)
        • Table REST OF SOUTH AMERICA: THERMOCHROMIC MATERIALS MARKET SIZE, BY END-USE INDUSTRY, 2017-2024 (TON)
  • COMPETITIVE LANDSCAPE
    • OVERVIEW
    • COMPETITIVE LEADERSHIP MAPPING, 2018
      • TERMINOLOGY/NOMENCLATURE
      • STRENGTH OF PRODUCT PORTFOLIO
      • BUSINESS STRATEGY EXCELLENCE
    • MARKET RANKING OF KEY PLAYERS, 2018
    • COMPETITIVE SCENARIO
      • NEW PRODUCT LAUNCH, 2013-2018
      • EXPANSION, 2013-2018
      • PARTNERSHIP & AGREEMENT, 2013-2018
  • COMPANY PROFILES
    • OLIKROM
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • LCR HALLCREST
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • CHROMATIC TECHNOLOGIES
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • RECENT DEVELOPMENTS
      • SWOT ANALYSIS
      • MNM VIEW
    • MATSUI INTERNATIONAL COMPANY
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • SWOT ANALYSIS
      • MNM VIEW
    • NEW PRISEMATIC ENTERPRISE
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • SWOT ANALYSIS
      • MNM VIEW
    • GEM'INNOV
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • MNM VIEW
    • KOLORJET
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • MNM VIEW
    • KOLORTEK
      • BUSINESS OVERVIEW
      • PRODUCTS OFFERED
      • MNM VIEW
    • SMAROL INDUSTRY
      • BUSINESS OVERVIEW
      • BPRODUCTS OFFERED
    • HALI INDUSTRIAL
      • PRODUCTS OFFERED
    • OTHER PLAYERS
      • FX PIGMENTS
      • N.C.C-NEW COLOR CHEMICAL
      • MOVING COLORS
      • GOOD LIFE INNOVATIONS
      • SHANGHAI CAISON COLOR MATERIAL CHEM
      • H.W. SANDS CORP.
      • INDESTRUCTIBLE PAINT
      • EPTANOVA
      • YAMAMOTO CHEMICAL
      • VIPUL CHEMICALS
  • APPENDIX
    • DISCUSSION GUIDE
    • KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
    • AVAILABLE CUSTOMIZATIONS
    • RELATED REPORTS
    • AUTHOR DETAILS

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook