Thermochromic pigments market demand to grow across food applications | RPM International Inc, Smarol Industry Co. Ltd., NanoMatrix International Limited, LCRHallcrest LLC
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The food and drinks industry in the U.K. is one of the largest economic contributors due to the high disposable income among people and the constantly changing demand for food. The thermochromic pigments market contributes more than US$35 billion to the country’s economy every year, indicating a vast potential for the demand for products like thermochromic pigments in packaging.
Thermochromic inks change their color to colorless at certain temperatures. These are needed as in food packaging also these inks change color very quickly. They can be used to indicate the freshness of a particular food item. Moreover, pigments also change their color when cooled or heated. These characteristics are particularly useful for indicating if the drinking cup is hot or even if the kettle is hot.
Globally, thermochromic pigments market size has witnessed significant growth over the years due to the widespread application in industries such as plastics, printing inks, paints and coatings, and various others.
North America to emerge as a prominent market
Regionally, North America has emerged as a profitable revenue terrain for the pigment suppliers over the years due to the presence of a large number of manufacturers in the region. Moreover, the wide packaged food industry in the region has also propelled the demand for thermochromic pigments market.
The recent coronavirus pandemic has slightly impacted the thermographic pigments businesses, as the slowdown in economic activities and a temporary halt in the production of goods will reduce the consumption in manufacturing of goods. With the gradual phasing out of the virus, the industry is expected to regain momentum from 2021.
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