GlobalThermochromic Materials Market: Highlights
· The global thermochromic materials market isprojected to grow at a CAGR of more than 8% between 2019 and 2027. Demandfrom smart textiles and smart packaging is anticipated to drive the marketduring the forecast period.
· Thermochromic materials are materials in which a change of temperatureinduces an observable change of color in the material. This phenomenon can bereversible, wherein the material changes back to its original color on reversalof the temperature change, or it can be irreversible. The most commonly usedthermochromic materials are leuco dyes and liquid crystals (LCs).
· Thermochromic liquid crystals are usually in the nematic form in whichthe molecules are oriented in parallel but not arranged in well-defined planes.Liquid crystals are used in precision applications such as temperaturesensitive thermometers, LCD Screens, stress analysis, refrigerators etc. Ascompared to liquid crystals, leuco dyes allow provide wide range of colors tobe used, however their response temperatures are more difficult to set withaccuracy.
· Thermochromic leuco inks are applied on products for functional usage,where the thermochromic ink indicates the temperature at a particular time, orfor marketing and promotional purposes, product labelling, and someapplications in security printing.
· Thermochromic inks are also considerably costlier than conventional inksas the production of thermochromic materials involves use of highly specializedand complex manufacturing processes. Moreover, in order to prevent accidentalactivation during printing, specialized printing processes may be required toprint with an irreversible thermochromic ink which would considerably increasecosts. These factors are anticipated to restrict growth of the thermochromicmaterials market.
GlobalThermochromic Materials Market: Segmental Trends
· In terms of type of thermochromism, reversible was the largest segmentof the thermochromic material market, accounting for more than 60% sharein 2018. Upon heating, heat-activated thermochromic materialschange from a colored state at room temperature to colorless state whilecold-activated thermochromic materials change from a colorless state at roomtemperature to colored state upon cooling. Reversible thermochromic materialsare used in textiles, baby diapers, bath toys, battery gauges, etc.
· Irreversible thermochromic materials held a smaller share of more than 30% in 2018 andthese materials are mainly used in product labels, security labels, food &beverages packaging labels etc. Irreversible thermochromic materials do notreturn to their original color on reversing the temperature and hence they arelimited to a single-time use.
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GlobalThermochromic Materials Market: Regional Highlights
· In terms of volume, North America dominated the global thermochromicmaterials market in 2018. It accounted for more than 30% sharein global thermochromic materials market in 2018. Thethermochromic materials market in North America is likely to be boosted byincreasing demand for thermochromic materials from the smart textiles and smartpackaging markets.
· Europe was another leading consumer of thermochromic materialsaccounting for more than 30% of the global market in 2018. Germanyand France were the major consumers of thermochromic materials in Europe in 2018.
· The thermochromic materials market in Asia Pacific is anticipated togrow at a speedy rate during the forecast period. The demand for thermochromicmaterials is low in Latin America and Middle East & Africa and this trend isexpected to continue during the forecast period.
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Key Developments inGlobal Thermochromic Materials Market
· In April 2020, Chromatic Technologies Inc. (CTI) haspartnered with American Thermal Instruments (ATI) in Dayton, Ohio, to donatefree-of-charge new printable temperature, tampering and authenticationtechnology to protect all new COVID-19 drugs.
· In June 2019, Olikrom produced a phosphorescent paint formarking on the ground. This contains pigments absorbing sunlight during theday, to restore it during the night, without any electrical connection.
· In November 2018, CTI (Chromatic Technologies Inc.) inventedthe first dual-indicator to detect product tampering from heat and freezing.
· In October 2018, Olikrom inaugurated a pilot plant inPessac, near Bordeaux. Olikrom designs and produces smart pigments for itspartners.
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GlobalThermochromic Materials Market: Competition Landscape
· There is need for companies to differentiate their products in anincreasingly competitive market scenario is making them adopt innovativetechnologies such as color-changing inks for smart packaging andtextiles.
· Key manufacturers of Thermochromic Materials are OliKrom, MatsuiInternational Company, Good Life Innovations Ltd, New Color Chemical Co., Ltd(NCC), Gem’innov, LCR Hallcrest, Smarol Industrial Co. Ltd., QCR SolutionsCorp., CTI (Chromatic Technologies), Hali Industrial Co. Ltd. & L’Arca Srl.
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