Thermochromic Pigment Market Aims to Expand at Double-Digit Growth Rate
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Thermochromic pigments are classified under high-performance pigment that has the property of changing color with a change in temperature. Both the markets of thermochromic pigment and high-performance pigment can be related to economic development, disposable income, and our quality of life.
The thermochromic pigments are used in paint & coating, ink printing, and plastic products to either show the temperature change or to increase aesthetics of the product. The usage of thermochromic pigment based ink can be usually seen in beer wrappers indicating the coldness of beer or sticker on the pizza delivery boxes indicating hotness of the pizza.
Globally, the demand for thermochromic pigment is growing consistently, especially in Europe and North America markets. This growth is supported by increasing automotive coating & printing industries in these regions.
Currently, North America is the global leader in the thermochromic pigment market. The US has built an advantage of having most of the ink printing market thus providing the maximum contribution in the global thermochromic pigment market. After the US, Canada is the major consumer of global thermochromic pigment market in North America. Asia Pacific will show high growth rate during the forecast period due to growing industrialization and increasing per capita income of people.
Reversible thermochromic pigments are extensively popular for their reversible color changing property and make it usable for aesthetics in decorative products.
Irreversible thermochromic pigment has relatively lower cost in comparison to reversible thermochromic pigment and only once it can change the color with a change in temperature. It has larger market share in volume in comparison with reversible, although relatively low market share in value.
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Both reversible and irreversible thermochromic pigments have unique color changing property, which makes them useful in various applications. Reversible thermochromic pigment has high cost and is the leading market used in thermochromic pigment in terms of value.
The study of the global thermochromic pigment market provides the market size information and market trends along with the factors and parameters impacting it in both short and long term. The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the key decision makers to make better business plans and informed decisions for the future. In addition, the study helps the venture capitalist in understanding the companies better and take informed decisions.
According to Infoholic Research, the global thermochromic pigment market is expected to grow at a CAGR of 5.3% during the forecast period 2019–2022 to reach $2,612.9 million by 2022. Ink printing application segment is expected to maintain global dominance in application segments, whereas China and Japan driven Asia Pacific is expected to contribute the highest growth in global thermochromic pigment. Some of the key players in thermochromic pigment are RPM International, DuPont, OliKrom, CTI and Flint Group.
o Paint & Coating
o Ink printing
o Others (such as Cosmetics)
o Reversible thermochromic pigment
o Irreversible thermochromic pigment
o Asia Pacific
o North America
o Rest of the World
• Industry outlook: market trends and drivers, restraints, and opportunities
Companies Mentioned in the Report
RPM International,Chromatic Technologies Inc,OliKrom,E.I.du Pont,Flint Group,Sherwin-Williams Co
NanoMatriX International Ltd,3M,Hammer Packaging,Quad/Graphics,
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Table of Contents
1 Report Outline 12
1.1 Introduction 12
1.2 Report Scope 12
1.3 Market Definition 12
1.4 Research Methodology 13
1.4.1 Data Collation & In-House Estimation 13
1.4.2 Market Triangulation 14
1.4.3 Forecasting 14
1.5 Study Declarations 15
1.6 Report Assumptions 15
1.7 Stakeholders 15
2 Executive Summary 16
2.1 North America Continues to Dominate the Thermochromic Pigment Market 16
2.2 Ink Printing Increasing its Lead with High Growth Coming from Developing Countries 16
3 Market Positioning 18
3.1 Total Addressable Market (TAM): High Performance Pigment 18
3.1.1 Market Overview 18
3.2 Segmented Addressable Market (SAM) 18
3.3 Related Markets 19
4 Market Outlook 20
4.1 Overview 20
4.2 Value Chain Analysis 20
4.3 PESTLE Analysis 21
4.4 Porter 5 (Five) Forces 22
4.5 Patent Analysis 22
5 Market Characteristics 24
5.1 Market Segmentation 24
5.2 Market Dynamics 24
5.2.1 Drivers 25
126.96.36.199 Increasing utilization of thermochromic pigment products in quality detection systems, especially in FMCG, is driving the market demand 25
188.8.131.52 Increasing affordability of thermochromic products is expanding the potential opportunities 25
5.2.2 Restraints 25
184.108.40.206 Low penetration in underdeveloped countries 25
220.127.116.11 Availability of premium substitutes in developed economies 26
5.2.3 Opportunities 26
18.104.22.168 Large untapped market in developing and underdeveloped countries 26
22.214.171.124 Introduction and focus on novel application areas 26
5.2.4 DRO – Impact Analysis 26
6 Type: Market Size and Analysis 28
6.1 Overview 28
6.2 Reversible 29
6.3 Irreversible 31
6.4 Vendor Profiles 33
6.4.1 RPM International 33
6.4.2 Chromatic Technologies, Inc. (CTI) 39
6.4.3 OliKrom 43
6.4.4 E.I. du Pont 47
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