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Global thermochromic materials market size to grow at 9.4% CAGR through 2028
Market Study Report
5 min read
Market Study Report
Market Study Report

The most recent report on the 'Global Thermochromic Materials Market' lists the variables that impact product demand as well as prospects that are likely to add immensely to the profitability to market between 2022 and 2028.

Pune, India, Sept. 07, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global thermochromic materials market was valued at USD 1,581 million in 2021 and is slated to progress at 9.4% CAGR through the review period, thus accumulating USD 2,965 million by the end of 2028.


The document divides the market into distinct verticals with respect to form, system, source, and application to determine which arena is viable for investment by outlining the growth rate and revenue share held by each segment. The regional markets are assessed in the report to understand the reach. Moving on to the competitive power structure, it provides a list of major corporations that are fueling demand through the forecast period.

The growth of the market is driven by increasing demand for food quality indicators to assess the freshness of frozen dairy & meat products, as well as extensive use of thermochromic pigments in paints, coatings, inks, etc.

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For the unaware, thermochromic materials are leuco-dye mixtures of color former, solvent, and color developer. They are primarily used as temperature metrics to determine temperature difference & distribution in a variety of processes.

The product demand is aided by usage in toys and baby diapers, thus bolstering the progress of the business sphere. Besides, rising penetration of smart & intelligent packaging, combined with technological advancements are further accelerating global thermochromic materials industry development.

Segmental Overview:

In terms of form, the industry is split into thermochromic powder, thermochromic liquid crystal (TLC), thermochromic slurry, and others. Of these, the thermochromic slurry segment accounted for a substantial market share in 2021 and is expected to garner reasonable gains by the end of the study period.
Based on system type, the business landscape is categorized into molecular rearrangement, supramolecular systems, stereoisomerism, macromolecular systems, and others. The molecular rearrangement vertical retained a significant revenue share in 2021 and is estimated to record subtle growth during 2022-2028.
With respect to source type, the marketplace is divided into inorganic thermochromic material, organic thermochromic material, and others. The inorganic thermochromic material segment held a considerable market share in 2021 and is anticipated to observe decent expansion during the analysis period.  
For application spectrum, worldwide thermochromic materials market is classified into packaging, textile, printing inks, paints and coatings, industrial, and others. Among these, the textile segment held a colossal revenue share in 2021 and is slated to witness modest development through 2028.
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