Global Thermochromic Materials
Market: Highlights
·
The
global thermochromic
materials market is projected to grow at a CAGR of more than 8% between 2019 and 2027. Demand
from smart textiles and smart packaging is anticipated to drive the market
during the forecast period.
·
Thermochromic
materials are materials in which a change of temperature induces an observable
change of color in the material. This phenomenon can be reversible, wherein the
material changes back to its original color on reversal of the temperature
change, or it can be irreversible. The most commonly used thermochromic
materials are leuco dyes and liquid crystals (LCs).
·
Thermochromic
liquid crystals are usually in the nematic form in which the molecules are
oriented in parallel but not arranged in well-defined planes. Liquid crystals
are used in precision applications such as temperature sensitive thermometers,
LCD Screens, stress analysis, refrigerators etc. As compared to liquid
crystals, leuco dyes allow provide wide range of colors to be used, however
their response temperatures are more difficult to set with accuracy.
·
Thermochromic
leuco inks are applied on products for functional usage, where the
thermochromic ink indicates the temperature at a particular time, or for
marketing and promotional purposes, product labelling, and some applications in
security printing.
·
Thermochromic
inks are also considerably costlier than conventional inks as the production of
thermochromic materials involves use of highly specialized and complex
manufacturing processes. Moreover, in order to prevent accidental activation
during printing, specialized printing processes may be required to print with
an irreversible thermochromic ink which would considerably increase costs.
These factors are anticipated to restrict growth of the thermochromic materials
market.
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Global Thermochromic Materials
Market: Segmental Trends
·
In terms
of type of thermochromism, reversible was the largest segment of the
thermochromic material market, accounting for more than 60% share
in 2018. Upon heating, heat-activated thermochromic materials
change from a colored state at room temperature to colorless state while
cold-activated thermochromic materials change from a colorless state at room
temperature to colored state upon cooling. Reversible thermochromic materials
are used in textiles, baby diapers, bath toys, battery gauges, etc.
·
Irreversible
thermochromic materials held a smaller share of more than 30% in 2018 and
these materials are mainly used in product labels, security labels, food &
beverages packaging labels etc. Irreversible thermochromic materials do not
return to their original color on reversing the temperature and hence they are
limited to a single-time use.
Global Thermochromic Materials
Market: Regional Highlights
·
In terms
of volume, North America dominated the global thermochromic materials market in
2018. It accounted for more than 30% share in global
thermochromic materials market in 2018. The thermochromic
materials market in North America is likely to be boosted by increasing demand
for thermochromic materials from the smart textiles and smart packaging
markets.
·
Europe
was another leading consumer of thermochromic materials accounting for more
than 30% of the global market in 2018. Germany and France were the
major consumers of thermochromic materials in Europe in 2018.
·
The
thermochromic materials market in Asia Pacific is anticipated to grow at a
speedy rate during the forecast period. The demand for thermochromic materials
is low in Latin America and Middle East & Africa and this trend is expected
to continue during the forecast period.
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Key Developments in Global
Thermochromic Materials Market
·
In April
2020, Chromatic Technologies Inc. (CTI) has partnered with American Thermal
Instruments (ATI) in Dayton, Ohio, to donate free-of-charge new printable
temperature, tampering and authentication technology to protect all new
COVID-19 drugs.
·
In June
2019, Olikrom produced a phosphorescent paint for marking on the ground.
This contains pigments absorbing sunlight during the day, to restore it during
the night, without any electrical connection.
·
In November
2018, CTI (Chromatic Technologies Inc.) invented the first dual-indicator
to detect product tampering from heat and freezing.
·
In October
2018, Olikrom inaugurated a pilot plant in Pessac, near Bordeaux. Olikrom
designs and produces smart pigments for its partners.
Global Thermochromic Materials
Market: Competition Landscape
·
There is
need for companies to differentiate their products in an increasingly
competitive market scenario is making them adopt innovative technologies such
as color-changing inks for smart packaging and textiles.
·
Key
manufacturers of Thermochromic Materials are OliKrom, Matsui
International Company, Good Life Innovations Ltd, New Color Chemical Co., Ltd
(NCC), Gem’innov, LCR Hallcrest, Smarol Industrial Co. Ltd., QCR Solutions
Corp., CTI (Chromatic Technologies), Hali Industrial Co. Ltd. & L’Arca Srl.
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