Thermochromic Materials Market to Witness CAGR of 9.3% during 2017 to 2025, Driven by High Demand for Smart Textiles

According to the latest study, the global thermochromic material market is projected to expand at a considerable pace over the coming years owing to the growing demand for innovative products with temperature-based, color-changing abilities for entertainment or functional applications. At present, the market is being majorly fueled by the demand for smart textiles from the fashion and home furnishing industry. To explore the market current as well as future status, this latest study has been recently broadcasted to the vast archive of Market Research hub (MRH) with the title of “Thermochromic Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025”. This report analyzes the market size of the thermochromic materials market for 2016 and forecast for the next eight years. The global market size of thermochromic materials is presented in terms of volume and revenue (in Tons and US$ Mn).

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At first, the report offers a detailed outlook on the global thermochromic material market by dividing the research study into several chapters. The chapter on the regional analysis of the thermochromic market sheds light on the performance and contribution of key regional segments such as North America, Asia Pacific, Latin America, Europe and the Middle East & Africa (MEA). At present, North America leads the market in terms of share. Europe is another key consumer in the market. Looking to the overall market demand in these regions, research predicts the market to register a CAGR of 9.3% during the period between 2017 and 2025 to become worth US$2.174 bn in 2025 from US$.988 bn in 2016.

Thermochromic materials are materials which can change its original color when exposed to temperature. It has been analyzed that thermochromic materials find application in different end-use industries. The most commonly used thermochromic materials are leuco dyes and liquid crystals (LCs). For a comprehensive study, the report’s authors have segmented the global network analytics market on the basis of type and end user. Applications are baby spoons, decorative items, packaging for food & beverages, labelling, in textile as aesthetic appearances and other consumer goods. Based on type, it includes reversible and irreversible thermochromic material.

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Moreover, the report includes drivers and restraints coupled with their impact on the market growth during the forecast period. Presently, the market is being driven by the demand for smart textiles from the fashion and home furnishing industry. Besides, rising demand for smart packaging is also considered as a major driver. Thermochromic inks are applied on packaging products for labelling, security printing, and for promotional activities.

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The report includes profiles of leading companies such as OliKrom, New Color Chemical Co., Ltd (NCC), Matsui International Company, CTI (Chromatic Technologies), Good Life Innovations Ltd., Gem’innov, LCR Hallcrest, Smarol Industrial Co. Ltd, QCR Solutions Corp., Hali Industrial Co. Ltd., L’Arca Srl.

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This release was published on openPR.