Global Thermochromic Paints & Coatings Marke will multiply at impressive CAGR by 2023 & Top Key Players are Sherwin Williams, AkzoNobel N.V., RPM International, Axalta Coating Systems Ltd., and Arkema

Thermochromic Paints & Coatings Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023
Thermochromic paints & coatings are designed in such a way that they change the color at a specific temperature, providing a visual indication of a temperature change. A special type of pigments, known as thermochromic pigments, are available in the market to manufacture thermochromic paints & coatings. In recent years, thermochromic paints & coatings have grown extraordinarily with the global thermochromic market attracting a significant share.
Research Methodology
The thermochromic paints & coatings market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:

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Key Market Insights
Thermochromic paints & coatings have created a niche market in various applications. Thermochromic paints & coatings can be used for many different reasons, including safety indicators on thermally sensitive systems or indication of the thermal history. The demand for thermochromic paints & coatings is surging in the food industry. Two main types of thermochromic paints & coatings are available in the market, i.e., reversible-based and irreversible-based.
The extensive use of these products in decorative and food sectors has given a massive boost to the thermochromic paints & coatings market in recent years. The rapid growth in economies across the globe and the increasing per capita income among consumers in developing countries are increasing the demand for decorations. This, in turn, is increasing the demand for thermochromic paints & coatings in infrastructure. The infrastructure sector is presently leading the market and is expected to remain the same during the forecast period. Emerging economies such as China, India, and Brazil are looking forward to take advantage of the benefits of thermochromic paints & coatings. Further, the industrial and FMCG packaging market growth is expected to foster the thermochromic paints & coatings market.
North America is the largest thermochromic paints & coatings market globally due to the presence of export-oriented manufacturing capacities and intense domestic demand from various end-user industries. The increase in food manufacturing and building construction is further driving the market growth in the region. The anticipated economic stability in Europe is expected to boost its manufacturing sector, complementing the growth of the thermochromic paints & coatings market. North America is likely to remain as the key region with a significant contribution coming from the US. Few of the prominent companies operating in the thermochromic paints & coatings market are Sherwin Williams, AkzoNobel N.V., RPM International, Axalta Coating Systems Ltd., and Arkema.

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Types:
o Reversible
o Irreversible
End-users:
o Decorative
o Food
o Industrial
o Others
Geography:
o Asia Pacific
o North America
o Europe
o Rest of the World

Table of Contents
1 Report Outline 14
1.1 Introduction 14
1.2 Report Scope 14
1.3 Market Definition 15
1.4 Research Methodology 15
1.4.1 Data Collation & In-house Estimation 15
1.4.2 Market Triangulation 16
1.4.3 Forecasting 17
1.5 Study Declarations 18
1.6 Report Assumptions 18
1.7 Stakeholders 18
2 Executive Summary 19
2.1 Asia Pacific Perceiving Highest Growth Rate 19
2.2 Decorative Segment Will Experience an Acceleration 20
3 Market Positioning 21
3.1 Total Addressable Market: Sealant Market 21
3.1.1 Market Overview 21
3.1.2 Major Trends 22
3.2 Segmented Addressable Market 22
3.3 Related Markets 22
4 Market Outlook 24
4.1 Overview 24
4.2 Value Chain Analysis 25
4.3 PESTLE Analysis 25
4.4 Porter 5 (Five) Forces 27
4.5 Patent Analysis 28
5 Market Characteristics 30
5.1 Market Segmentation 30
5.2 Market Dynamics 31
5.2.1 Drivers 31
5.2.1.1 Increasing demand in FMCG packaging 31
5.2.1.2 Increasing affordability of thermochromic products 32
5.2.2 Restraints 32
5.2.2.1 Raw material price fluctuations 32
5.2.2.2 Low awareness of thermochromic paints & coatings in emerging economies 32
5.2.3 Opportunities 32
5.2.3.1 Technological development in the products 32
5.2.3.2 Large untapped market in developing and underdeveloped countries 33
5.2.4 DRO – Impact Analysis 33

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