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CST: 24/08/2019 05:07:25   

World Thermochromic Materials Market Projected to Reach $2.1 Billion by 2024 - Growing Demand in Smart Packaging Applications

38 Days ago

Dublin, July 16, 2019 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.

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 market growth.

Theleucodyes 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.

Key Topics Covered

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Thermochromic Materials Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered For the Study
1.4 Currency
1.5 Unit Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions
2.5 Limitations

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Thermochromic Materials Market
4.2 Thermochromic Materials Market, By Material
4.3 Thermochromic Materials Market, By Country
4.4 Europe: Thermochromic Materials Market, By End-Use Industry and Country

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Demand in Smart Packaging Application
5.2.1.2 Increased Demand For Product Differentiation and Improved Appearance of Products
5.2.2 Restraints
5.2.2.1 Higher Cost Than That of Conventional Inks and Colorants
5.2.2.2 Poor Light Fastness Properties
5.2.3 Opportunities
5.2.3.1 Increasing Demand in Niche and Newer Applications
5.2.4 Challenges
5.2.4.1 Shortage of Leuco Dyes in China
5.3 Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of New Entrants
5.3.4 Threat of Substitutes
5.3.5 Intensity of Competitive Rivalry

6 Thermochromic Materials Market, By Type
6.1 Introduction
6.2 Reversible
6.3 Irreversible

7 Thermochromic Materials Market, By Material
7.1 Introduction
7.2 Leuco Dyes
7.3 Liquid Crystals
7.4 Pigments
7.5 Others
7.5.1 Vanadium Oxide (Vo2)
7.5.2 Copper (I)-Iodide

8 Thermochromic Materials Market, By End-Use Industry
8.1 Introduction
8.2 Packaging
8.3 Printing & Coating
8.4 Medical
8.5 Textile
8.6 Industrial
8.7 Others

9 Thermochromic Materials Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US
9.2.1.1 Increasing Use of Thermochromic Materials in Food Quality Indicators, Medical Devices, Food Packaging, and Security Printing is Expected to Drive the Demand
9.2.2 Canada
9.2.2.1 The Growing Trend Among Manufacturers to Offer High-Quality Packaging to Differentiate their Brands is Fueling the Market
9.2.3 Mexico
9.2.3.1 The Growing Food & Beverage Packaging and Thermal Printing Industries are Propelling the Demand
9.3 Europe
9.3.1 Germany
9.3.1.1 Increasing Demand For Attractive Packaging Among Consumers is Contributing to the Market Growth
9.3.2 France
9.3.2.1 Thermochromic Materials are Used in Different Applications, Including Food & Beverage Packaging
9.3.3 UK
9.3.3.1 Growth in Smart and Sustainable Packaging is Boosting the Market
9.3.4 Italy
9.3.4.1 The Increasing Number of Packaging and Coating Manufacturers in the Country is Fueling the Market
9.3.5 Spain
9.3.5.1 Growth in the Packaging, Medical, and Textile Industries is Boosting the Demand For Thermochromic Materials
9.3.6 Rest of Europe
9.4 APAC
9.4.1 China
9.4.1.1 Availability of Inexpensive Raw Materials, Labor, and Land, Along With A Moderately Stringent Regulatory Framework, is Fueling the Market
9.4.2 Japan
9.4.2.1 The Growing Use of Smart Packaging in Printing Labels and Food & Beverage Applications is Driving the Demand
9.4.3 India
9.4.3.1 Growth of the Market is Attributed to the Growing Cosmetic & Food Packaging and thermal Printing Industries in the Country
9.4.4 South Korea
9.4.4.1 Consumer Preference For Color Changing and Smart Packaging Techniques is Driving the Market
9.4.5 Rest of APAC
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 The Growing Use of Thermochromic Materials in Food & Beverage Packaging Application is A Major Growth Driver
9.5.2 South Africa
9.5.2.1 The Paper and Packaging Industries are Creating Growth Opportunities For Thermochromic Materials Manufacturers
9.5.3 Rest of Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.1.1 The Increased Purchasing Power of Consumers is Influencing the Market Positively
9.6.2 Argentina
9.6.2.1 The Development of the Industrial Base is A Major Growth Driver For the Market
9.6.3 Rest of South America

10 Competitive Landscape
10.1 Overview
10.2 Competitive Leadership Mapping, 2018
10.2.1 Terminology/Nomenclature
10.2.1.1 Visionary Leaders
10.2.1.2 Innovators
10.2.1.3 Dynamic Differentiators
10.2.1.4 Emerging Companies
10.2.2 Strength of Product Portfolio
10.2.3 Business Strategy Excellence
10.3 Market Ranking of Key Players, 2018
10.4 Competitive Scenario
10.4.1 New Product Launch, 2013-2018
10.4.2 Expansion, 2013-2018
10.4.3 Partnership & Agreement, 2013-2018

11 Company Profiles
11.1 Olikrom
11.2 LCR HalLcrest
11.3 Chromatic Technologies
11.4 Matsui International Company
11.5 New Prisematic Enterprise
11.6 GEM'INNOV
11.7 Kolorjet
11.8 Kolortek
11.9 Smarol Industry
11.10 Hali Industrial
11.11 Other Players
11.11.1 Fx Pigments
11.11.2 N.C.C-New Color Chemical
11.11.3 Moving Colors
11.11.4 Good Life Innovations
11.11.5 Shanghai Caison Color Material Chem
11.11.6 H.W. Sands Corp.
11.11.7 Indestructible Paint
11.11.8 Eptanova
11.11.9 Yamamoto Chemical
11.11.10 Vipul Chemicals

For more information about this report visit https://www.researchandmarkets.com/r/khaxkf

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