Global Thermochromic Material Market is expected to cross USD 2.2 Billion by 2025 at a CAGR of 8.9%
Thermochromic materials change color due to the application of stress and heat on them. Due to the restricted range of heat and stress that causes a change in coloration, they are excellent markers which accurately and instantly relate data to the viewers. They are helpful in machinery which is subject to regular heat and stress where irreversible thermochromic material is used to signify critical overheating or overstressing. In the market, thermochromic material are popular by the trade names: SFXC, CT-IPR Range, SOLARDIM®-ECO, Thermolock, and SOLARDIM-ECO.
The major factors favoring the growth of the market are high demand for thermochromic materials for smart packaging and increase in the demand for product differentiation for the purposes of freshness, expiry, and infringement.
However, the high costs of these thermochromic materials than the conventional colorants and inks is likely to hinder the market growth in the coming years.
- High demand for smart packaging
- Rising demand of product differentiation and improved appearance of products
- Higher costs than conventional colorants and inks
- Reversible: Reversible segment accounted for the largest market share of around 65% in 2018, reversible thermochromic materials find applications in temperature indicating labels, sun protecting glazing, rewritable paper, and mood rings, among others.
- Irreversible: Irreversible thermochromic materials are used in laser marking of materials, as overheating indicators for various industrial applications, as security inks as well as infringement indicators for branded items and banknotes.
- Leuco Dyes: Leuco dyes accounted for the largest market share of over 30% in 2018. They are insoluble in water and hence used for various clothing items as well as battery life indicators. Leuco dyes are further sub-divided into triphenyle methane, indigo dyes, and sulphur dyes.
- Liquid Crystals: Liquid crystals change color by the application of heat and stress on them. This quality ensures their application in aquarium and pool thermometers as well as in industrial applications, where they are used to map heat flow, measure stress distribution, check for hot spots, etc.
- Pigments: Thermochromic pigments find application in home appliances, traffic signs, firefighting equipment, path marking, printing inks, instruments and control panels as well as novelty applications. The glow in the dark watches are a good example of the use of thermochromic pigments.
- Others: This segment covers polymers and inorganic materials with thermochromic properties.
By End-Use Industry
- Packaging: Packaging is the largest and fastest growing market segment; packaging has a very wide array of uses for thermochromic materials. With the advent in smart packaging technology, thermochromic materials are increasingly used due to varied properties as well as aesthetic qualities. Packages incorporate temperature indicators, sun protection, and infringement indicators. They are used in the food industry to indicate suitable temperature for the packaged food, as indicators of the freshness of the product.
- Printing and Coating: Printing and coating of thermochromic materials is critical for emergency markings, path markings, for a variety of novelty items, for coating on instrument panels as well as critical indicators for overheating and excess stress in industrial applications.
- Medical: Used to indicate expiry of medicines, used in thermometers as well as for medical thermography.
- Textile: One of the large segments of the market. Textiles are usually treated with leuco dyes for aesthetic purposes, as with articles of clothing, or as indicators of temperature in tablecloths and oven mitts.
- Industrial: Thermochromic materials in industrial applications are used to efficiently and easily gauge temperature changes, to understand heat flow, and stress distribution. Irreversible thermochromic materials are used to signal critical overheating or critical stressing.
- Others: This includes a variety of novelty applications including automotive and marine.
- North America: North America is the largest market for thermochromic materials owing to its indispensability in ensuring industrial safety as well as for packaging, North America is also home to several top thermochromic material manufacturers.
- Europe: Europe uses thermochromic materials for road markings, for safety purposes and as indicators in the food industry. The medical use of thermochromic materials is also high within the region.
- Asia-Pacific: The fastest growing market for thermochromic materials. The region is the largest manufacturing hub in the world. Consequently, it uses thermochromic materials for packaging, textile as well as for industrial safety purposes. The large automobile industry also uses these materials in its control panels and indicators.
- Middle East & Africa: A small market, the thermochromic material is used for road mapping and as heat and stress indicators within its industries.
- Latin America: A niche market, thermochromic materials are used in the automobile and textile industries.
- OliKrom (France)—OliKromTSoft
- LCR Hallcrest (US)
- Chromatic Technologies (CTI) (US)
- Matsui International Company (US)—Thermolock
- New Prisematic Enterprise (Taiwan)
- Smarol Industry (China)
- GEM'INNOV (France)
- Hali Industrial (China)
- Kolorjet (India)
- Kolortek (China)
- SFXC (UK)- SFXC
- Indestructible Paints Limited (UK)—CT-IPR Range
- Fraunhofer IAP-SOLARDIM-ECO
Frequently Asked Questions (FAQ) :
Global thermochromic material market is anticipated to expand at a CAGR of 8.9% by the end of 2025.
Global thermochromic material market is projected to hold a substantial value of USD 2.2 billion by the end of 2025.
The increased demand for smart packaging, and the growing demand of product differentiation along with an attractive appearance of the product are likely to drive global thermochromic material market.
The expenses related with the material are estimated to hamper global thermochromic material market.
Chromatic Technologies (CTI) (US), Hali Industrial (China), Matsui International Company (US)—Thermolock, and Smarol Industry (China) are some of the most renowned names of the global thermochromic material market.