Thermochromic Ink Printing Market Lucrative Opportunities By 2024
The inks used for thermochromic ink printing contains thermochromic pigments that are subjected to color change when there is a temperature difference.
In the recent past, the manufacturers are seeking for innovative packaging solutions as a marketing strategy, the thermochromic ink printing technology is one such innovation which is being widely used by manufacturers to endorse their products.
Global Thermochromic Ink Printing Market: Drivers & Restraints
The growth of global thermochromic ink printing market is driven by the demand for innovative printing technology in the packaging industry.
Thermochromic ink printing is commonly used by food & beverages and alcoholic beverages manufacturers in order to identify the temperature state of the beverage by looking at the cans and bottles. Furthermore, the use of thermochromic ink printing is being used as a measure by the beverage manufacturers to gain customer attractions.
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Thus, the growth in packaging industry and innovative printing needs in packaging industry is anticipated to primarily drive the global market for thermochromic ink printing. Thermochromic ink printing is not limited to the packaging industry, thermochromic ink printing technology has found its potential in wallpaper printing, textiles, and specialty market, which is further augmenting the demand for thermochromic ink printing technology.
On the plus side, the demand for Thermochromic ink printing in FMCG (Fast Moving Consumer Goods) is expected to rise over the forecast period, which in turn will propel the demand for thermochromic ink printing market globally. Trends noted in the global thermochromic ink printing market is the technological innovations for delivering state-of-the-art packaging solutions.
For instance, Print Pack a leading packaging company has developed thermochromic ink with color to color change combinations, which allows the product manufacturers to alter the graphics of their labels according to their promotional needs.
However, the thermochromic ink printing is a costly affair as compared to the traditional ink printing and the liquid crystal thermochromic inks which are highly sensitive to small changes in temperature due to which it is not recommended for packaging. These factors might hamper the growth of global thermochromic ink printing market globally.
Based on the geographies, global thermochromic ink printing market is segmented into five key regions- North America, Latin America, Europe, APAC, and Middle East & Africa.
Among the aforementioned regions, North America accounts for significant share for thermochromic ink printing market, owing to the flourishing growth of smart packaging industry in the region as compared to other regions.
Furthermore, the North America region accounts for healthy share in terms of consumption of alcoholic beverages, thermochromic ink printing being commonly used for printing in beer cans, the alcoholic beverage consumption in the region is anticipated to further add value to the thermochromic ink printing market in the region.
Europe market for thermochromic ink printing is followed by the North America market for thermochromic ink printing market which is trailed by the Asia-Pacific market for the thermochromic ink printing.
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Over the forecast period, Asia-Pacific market for is anticipated to grow significantly owing to the growth of packaging industry in the region. Overall, the global market for thermochromic ink printing is expected to grow significantly by the end of forecast period.
Global Thermochromic Ink Printing Market: Key Players
Some of the few players identified in the global thermochromic ink printing market includes B&H Colour Change, CTI, AB Print Group Limited, MELMARC, SFXC | Special Effects and Coatings., QCR Solutions Corp, NanoMatriX International Limited and Hammer Packaging, Corp., among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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