The thermochromic materials market is projected to grow from USD 1.3 billion in 2019 to USD 2.1 billion by 2024, at a CAGR of 9.5%. The high growth of niche applications consuming thermochromic materials across the world, coupled with efficient and superior properties of thermochromic materials, is driving the market.
The key players in the thermochromic materials market include OliKrom (France), LCR Hallcrest (US), Chromatic Technologies (CTI) (US), Matsui International Company (US), New Prisematic Enterprise (Taiwan), Smarol Industry (China), GEMINNOV (France), Hali Industrial (China), Kolorjet (India), and Kolortek (China).

Chromatic Technologies (US) is the world-wide leader in the manufacturing of thermochromic inks and smart materials. It is engaged in the production of temperature inks, sunlight inks, reveal inks, glow-in-the-dark inks, security inks, and trigger inks, color-changing plastics, cold-chain alerts indicator, high-pressure pasteurization (HPP) indicators, and others. CTI is an innovation company that provides solutions to the world’s major brands and package printers. It focuses on aggressive R&D program that successfully allows CTI to provide custom innovation incubators for major brands worldwide.

The leuco dyes segment is estimated to lead the thermochromic materials market, by material, during the forecast period.

Leuco dyes is the fastest-growing segment of the thermochromic materials market, by material owing to the presence of a large number of manufacturers of leuco dyes. Leuco dyes-based thermochromic materials are specialized dynamic materials that change color when exposed to different temperatures. 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 are used in various applications where temperature response accuracy is not critical, such as bath toys, novelties, flying discs, consumer goods, and textiles. They are also used in battery state indicators.

Do Inquiry Before Buying at https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=253699772

Irreversible thermochromic materials is expected to be the largest and fastest-growing segment of the market, by type, during the forecast period.

On the basis of type, the thermochromic materials market has been categorized into reversible and irreversible thermochromic materials. Irreversible is projected to be the fastest-growing segment of the thermochromic materials market, by type during the forecast period. Irreversible thermochromic materials are widely used in security inks, packaging, and other coating applications as they change appearance when exposed to diverse temperatures. The color will remain unchanged, once the activation temperature is reached. The thermochromic materials market is witnessing significant growth due to the growing demand for thermochromic materials in medical applications.

Recent Developments
• In December 2018, LCR Hallcrest partnered with PPG (US) for the development of a thermochromic coating for National Hockey League (NHL) hockey pucks. The color changing coating will change from purple to clear when a puck’s temperature is above freezing, providing a visual indication that the puck should be replaced. This partnership strengthened the company’s position as a leading manufacturer in the global thermochromic materials market.
• In November 2018, CTI launched hi-tech inks to create anti-counterfeit & tamper-proof packages. Its BlindSpotz technology helped in stopping product tampering by inventing the first dual-indicator to detect product tampering from heat and freezing. This launch of innovative tamper proofing product from CTI helped the company emerge as a market leader in thermochromic inks manufacturing.
• In October 2018, LCR Hallcrest launched Thermostrip WD, a self-adhering, waterproof, and color-changing label that measures the surface temperature of medical instruments in washer disinfectors, bedpan washers, and any thermal disinfector. This launch helped the company in broadening its product offerings of thermochromic materials.

Request Report Sample at https://www.marketsandmarkets.com/requestsampleNew.asp?id=253699772

Printing & coating is the fastest growing end-use industry of thermochromic materials.
Thermochromic materials are used in a wide range of end-use industries such as packaging, printing & coating, medical, textile, industrial, and others. Printing & coating is the fastest-growing end-use industry of thermochromic materials owing to a significant increase in the demand for thermal paper for POS systems. 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.

High economic growth rate and growing printing & coating industry in China, Japan, and India are projected to lead the thermochromic materials market in APAC during the forecast period.

APAC is the fastest-growing market, in terms of both production and demand. Higher domestic demand, easy availability of raw materials, and low-cost labor make APAC the most preferred destination for the manufacturers of thermochromic materials. 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 China. APAC is emerging as a leading consumer of thermochromic materials due to the increasing demand from domestic as well as international markets.

Know More Details at Click Here

About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact MarketsandMarkets™:
Mr. Ashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: 1-888-600-6441