Thermochromic Materials Market to see immense Growth by 2026 | Leading Companies- OliKrom, LCR Hallcrest, Indestructible Paint, Chromatic Technologies

Thermochromic Materials Market Business Insights and Updates:

The latest Market report by a Data Bridge Market Research with the title [Global Thermochromic Materials Market - Industry Trends and Forecast to 2026] . The new report on the worldwide Thermochromic Materials Market is committed to fulfilling the necessities of the clients by giving them thorough insights into the Market. The various providers involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.

Global thermochromic materials market is expected to register a substantial CAGR of 7.77% in the forecast period of 2019-2026.

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Thermochromic materials, commonly known as colour-changing materials are substances that transform their colour to indicate changes in temperature during various reactions, industrial uses, and various consumer uses. These materials help in appropriate identification of temperature also helping identify the changes during various processes.

The study considers the Thermochromic Materials Market value and volume generated from the sales of the following segments:
Major Market manufacturers covered in the Thermochromic Materials Market are:
OliKrom; LCR Hallcrest LLC; Indestructible Paint Limited; Chromatic Technologies Inc.; MICI; New Prismatic Enterprise Co.; Gem'innov; SMAROL INDUSTRY CO.,LTD.; Kolortek Co., Ltd; Hali Pigment co.,ltd.; FX Pigments Pvt. Ltd.; Good Life Innovations LTD; Vipul Chemicals India Pvt Ltd.; QCR Solutions Corp; SFXC

Segmentation: Global Thermochromic Materials Market

By Type

Reversible
Irreversible

By Material

Leuco Dyes
Liquid Crystals
Pigments
Others
Vanadium Oxide (Vo2)
Copper (I)-Iodide

By Application

Food Quality Indicators
Paper
Paints & Pigments
Thermometers
Medical Devices
Others

By End-Use Industry

Packaging
Printing & Coating
Medical
Textile
Industrial
Others

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Based on regions, the Thermochromic Materials Market is classified into North America, Europe, Asia- Pacific, Middle East & Africa, and Latin America
Middle East and Africa (GCC Countries and Egypt)
North America (United States, Mexico, and Canada)
South America (Brazil, Argentina etc.)
Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)

Market Drivers:

1. Various benefits associated with the material such as enhanced appearance and better product identification amid growing demand for these characteristics; this factor is expected to boost the growth of the market
2. High levels of growth associated with smart packaging utilization of these materials will also augment this market growth
3. Growing uses associated with paints & pigments applications for these materials is expected to propel the market growth
4. Various research & development activities associated with the advancement of materials and their stability will also act as a market driver

Market Restraints:

1. Large financial costs associated with these materials as compared to conventional colorants; this factor is expected to hinder the growth of the market
Lack of resistance against lights resulting in poor lightfastness characteristics also restricts the market growth
2. Concerns regarding the lack of stability and complicated chemical formulation of these materials is expected to restrict the growth of the market

Key Developments in the Market:

1. In December 2018, PPG Industries, Inc. in collaboration with LCR Hallcrest and QCR Solutions Corporation announced the development of thermochromic materials based coating to be applied on National Hockey League's Winter Classic 2019 game puck, which will be played on 1st January, 2019 in Notre Dame Stadium, Indiana, United States
2. In February 2018, Crown announced that Coca-Cola had deployed their "Reveal" ink technology for their cans of "Coke", "Coke Zero", "Fanta" and "Sprite" for Lithuania, Latvia and Estonia regions. "Reveal" ink developed by Crown Bevcan Europe & Middle East along with Chromatic Technologies Inc. (CTI) strengthen their product capabilities, by identifying their first usage of inks

Key Benefits for Thermochromic Materials Market:

1. In-depth analysis of the Market is conducted by constructing Market estimations for the key Market segments between 2020 and 2026. The report provides an extensive analysis of the current and emerging Thermochromic Materials Market trends and dynamics.
2. Key Market players within the Market are profiled in this report and their strategies are analyzed thoroughly, which helps to understand the competitive outlook of the industry.
3. Extensive analysis of the Market is conducted by following key product positioning and monitoring of the top manufacturers within the Market
4. A comprehensive analysis of all the regions (North America, Europe, Asia-Pacific, South America, The Middle East and Africa )

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