[FURL=https://www.industryarc.com/Research/Thermochromic-Materials-Market-Research-503473?utm_source=BriefingWire&utm_medium=PressRelease&utm_campaign=PaidPressRelease]Thermochromic materials market[/FURL] size is forecast to reach $2.5 billion by 2026, after growing at a CAGR of 8.6% during 2021-2026. Thermochromic materials are generally organic leuco dye mixtures, which change reversibly their color by a temperature change. A change in the crystalline phase and structure is responsible for the color transition. The market growth is expected to be driven by the rise in the use of thermochromic materials in various applications, such as safety inks, thermometers, OLED screens, and body armors. Further, the application of thermochromic materials as an indicator to determine the quality of the frozen meat and dairy products, is anticipated to fuel the demand. However, thermochromic inks are considered as costly as the production of thermochromic materials involves the use of highly specialized and complex manufacturing process than conventional inks, which is projected to be a significant challenge for the thermochromic materials industry during the forecast period.Key Takeaways
Europe dominates the thermochromic materials market, owing to the growth of the packaging, construction, and medical manufacturing industry. The use of thermochromic materials in inks for flexographic printing and screen printing is expected to be key aspects of the market growth in the region.
The growing demand for innovative products with temperature-based, color transition abilities for entertainment or functional applications has contributed significantly to market growth in recent years.
There is a growing awareness among manufacturers of military equipment regarding pigments for camouflaging their sensitive devices from infrared detection, which is anticipated to substantially drive the market growth.
Furthermore, the increasing usage of organic leuco dye mixtures as food quality indicators to determine the quality of the frozen meat and foods is expected to bolster the market during the forecast period.
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Thermochromic Materials Market Drivers
Increasing Demand from Various End-Use Industries
Thermochromic materials due to their color transition and crystalline phase structure find application in different end-use industries.
Flourishing Construction Industry Accelerating the Demand for Thermochromic Materials
The thermochromic material coating on the building reflects the solar radiation, especially the infrared regime, and transmit visible radiation regime.
Thermochromic materials market are OliKrom, Matsui International Company, Good Life Innovations Ltd, New Color Chemical Co., Ltd (NCC), Gem’innov, LCR Hallcrest, Smarol Industrial Co. Ltd., QCR Solutions Corp., CTI (Chromatic Technologies), and Hali Industrial Co. Ltd. & L’Arca Srl.
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