The global thermochromic materials market is
expected to reach USD 7.31 Billion by 2025, according to a new report by Grand
View Research, Inc. Growing demand for reversible thermochromic materials in
application industries is expected to drive demand over the forecast period.
Growing demand for thermochromic
materials in food quality indicators to determine the quality of frozen meat
and dairy products coupled with increasing use of thermochromic pigments in
inks, paints, and coatings is expected to drive market growth over the forecast
period.
Color diversity, cost
effectiveness, and manufacturing process flexibility are some of the major
advantages of thermochromic materials. As a result, the demand for
thermochromic pigments in novelty products is increasing significantly. In
addition, the use of reversible temperature-sensitive materials in baby
products and sensors is expected to aid growth over the next eight years.
Complex chemical formulation
coupled with the difficulty in maintaining the formulation stability of
reversible thermochromic materials is expected to hamper the demand for the
materials over the forecast period. However, constant research &
development projects undertaken by the manufacturers is expected aid in the
development of stable reversible materials, which in turn is likely to attract
demand from the application industries.
Browse full research report on Global
Thermochromic Materials Market: http://www.grandviewresearch.com/industry-analysis/thermochromic-materials-market
Further key findings from the report suggest:
- Reversible thermochromic materials are expected to grow at CAGR of 5.0% over the forecast period on account of growing demand in baby diapers, sensors and chemical containers owing to its reversible characteristic
- Irreversible materials dominated the market with over 60% of the overall revenue share due to increasing demand for the product in novelty products and textile industry over the forecast period
- Thermochromic pigments accounted or the largest volume share in 2016 and is expected to continue its dominance over the forecast period owing to the increasing use of the pigments in the manufacturing of paints and inks
- Asia Pacific is expected to be the fastest growing region over the forecast period on account of the increasing demand for reversible as well as irreversible products in textile & novelty product manufacturing, and printing industry
- The industry is fragmented with manufacturers catering to their local markets, creating a monopoly. In addition, on account of the emerging industry and slow growth, the existing manufacturers prevent new players from entering the market.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global thermochromic
materials market on the basis of product, application, and region:
Thermochromic Materials Product Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
- Reversible
- Irreversible
Thermochromic Materials Application Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
- Food quality indicators
- Papers
- Pigments
- Thermometers
- Others
Thermochromic Materials Regional Outlook (Volume, Kilo
Tons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Japan
- Central & South America
- Brazil
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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