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Thermochromic Materials Market

Global Thermochromic Materials Market Size, Share, Industry: By Type: Reversible, Irreversible; By Material: Leuco Dyes, Liquid Crystals, Pigments, Others; By End Use: Packaging, Printing & Coating, Medical, Textile, Industrial, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global Thermochromic Materials Market Outlook

The global thermochromic materials market attained a value of USD 1.98 billion in 2023. The thermochromic materials market is further expected to grow in the forecast period of 2024-2032 at a CAGR of around 9.60% to reach around USD 4.52 billion by 2032.

 

Global Thermochromic Materials Market

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Market Segmentation

The thermochromic materials are being used primarily as temperature indicators in many industrial industries, to identify the temperature and reaction temperature variations in chemical reactions, to quantify the temperature distribution of chemical heating devices, for example, heat exchangers and reactors, and also to indicate the variation in temperature in chemical containers and hazardous materials and storages vaults.

 

Global Thermochromic Materials Market by End Use

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Based on type, the thermochromic materials market can be divided into reversible and irreversible.

Based on material, the thermochromic materials market is divided into:

  • Leuco Dyes 
  • Liquid Crystals 
  • Pigments 
  • Others

The industry can be broadly categorised based on the end-use segments into:

  • Packaging 
  • Printing and Coating 
  • Medical 
  • Textile 
  • Industrial 
  • Others

The EMR report looks into the regional markets of thermochromic materials like North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.

 

Global Thermochromic Materials Market By Region

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Market Analysis

The use of thermochromic materials in protection or camouflaging applications and sensors for practical operations has increased. Due to their quality and durability, they are printed on plastic films through traditional dyes. The technological developments contributed to the launch of energy management films, OLED displays, and flexible electronics. The thermochromic materials are used in these industries, and the growth of these markets are propelling the thermochromic materials market growth further.

Thermochromic materials are used in a wide spectrum of end-use industries, including packaging, printing and coating, medical, automotive, textile, and other applications. The printing and coating segment is the fastest-growing end-use industry of thermochromic products, as the market for thermal paper for POS systems is increasing significantly. Reversible thermochromic type dominates the global market.

 

Competitive Landscape

The report presents a detailed analysis of the following key players in the global thermochromic materials market, looking into their capacity, competitive landscape, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Olikrom
  • LCR Hallcrest LLC
  • Good Life Innovations Ltd
  • Hali Industrial Co. Ltd
  • Smarol Industrial Co. Ltd.
  • Gem'Innov
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter's Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Material
  • End Use
  • Region
Breakup by Type
  • Reversible
  • Irreversible
Breakup by Material
  • Leuco Dyes
  • Liquid Crystals
  • Pigments
  • Others
Breakup by End Use
  • Packaging
  • Printing and Coating
  • Medical
  • Textile
  • Industrial
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Olikrom
  • LCR Hallcrest LLC
  • Good Life Innovations Ltd
  • Hali Industrial Co. Ltd
  • Smarol Industrial Co. Ltd.
  • Gem'Innov
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Thermochromic Materials Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Thermochromic Materials Historical Market (2018-2023) 
    8.3    Global Thermochromic Materials Market Forecast (2024-2032)
    8.4    Global Thermochromic Materials Market by Type
        8.4.1    Reversible
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Irreversible
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
    8.5    Global Thermochromic Materials Market by Material
        8.5.1    Leuco Dyes
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Liquid Crystals
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Pigments
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Others
    8.6    Global Thermochromic Materials Market by End Use
        8.6.1    Packaging
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Printing and Coating
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Medical
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Textile
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Industrial
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Others
    8.7    Global Thermochromic Materials Market by Region       
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032) 
9    North America Thermochromic Materials Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend ( 2024-2032)
10    Europe Thermochromic  Materials Market Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Thermochromic Materials Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Thermochromic Materials Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Thermochromic Materials Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    OliKrom
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    LCR Hallcrest LLC
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Good Life Innovations Ltd
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Hali Industrial Co. Ltd
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Smarol Industrial Co. Ltd.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Gem'Innov
            16.2.6.1    Company Overview
            16.2.6.2    Product Portfolio
            16.2.6.3    Demographic Reach and Achievements
            16.2.6.4    Certifications
        16.2.7    Others
17    Key Trends and Developments in the Market


Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirement and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment


List of Key Figures and Tables

1.    Global Thermochromic Materials Market: Key Industry Highlights, 2018 and 2032
2.    Global Thermochromic Materials Historical Market: Breakup by Type (USD Billion), 2018-2023
3.    Global Thermochromic Materials Market Forecast: Breakup by Type (USD Billion), 2024-2032
4.    Global Thermochromic Materials Historical Market: Breakup by Material (USD Billion), 2018-2023
5.    Global Thermochromic Materials Market Forecast: Breakup by Material (USD Billion), 2024-2032
6.    Global Thermochromic Materials Historical Market: Breakup by End Use (USD Billion), 2018-2023
7.    Global Thermochromic Materials Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8.    Global Thermochromic Materials Historical Market: Breakup by Region (USD Billion), 2018-2023
9.    Global Thermochromic Materials Market Forecast: Breakup by Region (USD Billion), 2024-2032
10.    North America Thermochromic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
11.    North America Thermochromic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.    Europe Thermochromic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
13.    Europe Thermochromic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.    Asia Pacific Thermochromic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
15.    Asia Pacific Thermochromic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.    Latin America Thermochromic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
17.    Latin America Thermochromic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.    Middle East and Africa Thermochromic Materials Historical Market: Breakup by Country (USD Billion), 2018-2023
19.    Middle East and Africa Thermochromic Materials Market Forecast: Breakup by Country (USD Billion), 2024-2032
20.    Global Thermochromic Materials Market Structure

Key Questions Answered in the Report

In 2023, the global thermochromic materials market attained a value of nearly USD 1.98 billion.

The market is projected to grow at a CAGR of 9.60% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 4.52 billion by 2032.

The major drivers of the market are rising disposable incomes, increasing demand from end use segments, and growing technological advancements.

The key trends guiding the growth of the market include the launch of energy management films, increasing usage of OLED displays, and surging popularity of flexible electronics.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Reversible and irreversible are the major types of thermochromic materials in the market.

Leuco dyes, liquid crystals, and pigments, among others, are the significant materials in the market.

Packaging, printing and coating, medical, textile, and industrial, among others, are the major end uses of thermochromic materials in the market.

The major players in the global thermochromic materials market are Olikrom, LCR Hallcrest LLC, Good Life Innovations Ltd, Hali Industrial Co. Ltd, Smarol Industrial Co. Ltd., and Gem'Innov, among others.

Analyst Review

The global thermochromic materials market attained a value of USD 1.98 billion in 2023, driven by the rising demand from the end use segments. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 9.60%. The thermochromic materials market is projected to reach USD 4.52 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the industry can be segmented into reversible and irreversible, with the reversible segment dominating the market. On the basis of materials, the industry can be divided into leuco dyes, liquid crystals, pigments, and others. By end uses, the industry can be divided into packaging, printing and coating, medical, textile, industrial, and others. The major regional markets for the product are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Olikrom, LCR Hallcrest LLC, LCR Hallcrest LLC, Good Life Innovations Ltd, Hali Industrial Co. Ltd, Smarol Industrial Co. Ltd., Gem'Innov, and others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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