Thermochromic Paints & Coatings Market by (Reversible and Irreversible), End-users (Decorative, Food, Industrial and Others) and By Geography – Global Driver, Restraints, Opportunities, Trends, and Forecast to 2028

October 2023 | 128 pages | ID: TAAAC00F6E8EN
IHR Insights

Abstracts

Thermochromic paints & coatings are designed in such a way that they change the color at a specific temperature, providing a visual indication of a temperature change. A special type of pigments, known as thermochromic pigments, is available in the market to manufacture thermochromic paints & coatings. In recent years, thermochromic paints & coatings have grown extraordinarily with the global thermochromic market attracting a significant share. Thermochromic paints and coatings offer unique visual effects and interactive experiences. The ability to change color with temperature variations adds novelty and excitement to products, making them more attractive to consumers. This aesthetic appeal has led to their use in various applications, from artistic projects to consumer goods which propel the market growth. On the other the factors such as raw material price fluctuations and low awareness of thermochromic paints & coatings in emerging economies are limiting the market growth. The Thermochromic Paints & Coatings Market is projected to grow at a rate of 15.1% CAGR by 2028.

Thermochromic Paints & Coatings Market based on Types:

• Reversible
• Irreversible

Thermochromic Paints & Coatings Market based on End-users:

• Decorative
• Food
• Industrial
• Others

Thermochromic Paints & Coatings Market based on Geography:

• North America
• Europe
• Asia Pacific
• Rest of the world

The market based on type is bifurcated into Reversible and Irreversible. Thermochromic pints based on irreversible paints hold the larger share of the market in terms of volume. The ability of these paints to change the color once over their service can hinder the growth of the segment. The reversible paints are expensive and have the ability to retain their color over its entire lifespan. In terms of value, this segment holds the largest share of the market.

The market for end-users is segmented as Decorative, Food, Industrial and Others. The decorative sector is one of the major contributors to the thermochromic paints & coatings market. The high growth in economies and increasing per capita income among consumers in developing countries has increased the demand for construction. This trend is expected to continue with the construction sector leading the market during the forecast period.

North America is the largest thermochromic paints & coatings market globally due to the presence of export-oriented manufacturing capacities and intense domestic demand from various end-user industries. The increase in food manufacturing and building construction is further driving the market growth in the region. The anticipated economic stability in Europe is expected to boost its manufacturing sector, complementing the growth of the thermochromic paints & coatings market. North America is likely to remain as the key region with a significant contribution coming from the US.

Furthermore, the rise of e-commerce and increasing consumer awareness regarding product quality and authenticity has driven the adoption of smart packaging solutions. Thermochromic coatings are used in smart packaging to indicate temperature changes and provide information about product freshness or storage conditions. This trend has been particularly significant in the food and beverage industry.

The market report provides with few notable companies of the market which include 3M, Akzo Nobel N.V., Arkema S.A., Axalta Coating Systems Ltd., Bechtel Corporation, Clariant AG, General Electric (GE), Hammer packaging, RPM INTERNATIONAL and Sherwin Williams Company.

As a result, the thermochromic paints and coatings market is expected to continue growing as technology advances, manufacturing processes improve, and consumer demand for visually engaging, interactive, and functional products increases across different industries.

• This report mentions market analysis which includes various regions that enable shareholders to prepare plans according to region.
• This report represents the insights of the attributes which propel and hamper the growth of the market.
• The exclusive analysis of given regions offers insights which are estimated to facilitate competitors to strategically organize their business moves and also helps in survive in the market.
• Significant market vendors of the market are included in terms of their profiles in this report and their strategies, which assists in getting perception of competitive outlook of the market.

Contents

1. EXECUTIVE SUMMARY


2. INDUSTRY OUTLOOK

2.1. Industry Overview
2.2. Industry Trends

3. MARKET SNAPSHOT

3.1. Market Definition
3.2. Market Outlook
  3.2.1. Porter Five Forces
3.3. Related Markets

4. MARKET CHARACTERISTICS

4.1. Market Overview
4.2. Market Segmentation
4.3. Market Dynamics
  4.3.1. Drivers
  4.3.2. Restraints
  4.3.3. Opportunities
4.4. DRO - Impact Analysis

5. TYPE: MARKET SIZE & ANALYSIS

5.1. Overview
5.2. Reversible
5.3. Irreversible

6. END-USERS: MARKET SIZE & ANALYSIS

6.1. Overview
6.2. Decorative
6.3. Food
6.4. Industrial
6.5. Others

7. GEOGRAPHY: MARKET SIZE & ANALYSIS

7.1. Overview
7.2. North America
7.3. Europe
7.4. Asia Pacific
7.5. Rest of the World

8. COMPETITIVE LANDSCAPE

8.1. Competitor Comparison Analysis
8.2. Market Developments
  8.2.1. Mergers and Acquisitions, Legal, Awards, Partnerships
  8.2.2. Product Launches and execution

9. VENDOR PROFILES

9.1. 3M
  9.1.1. Overview
  9.1.2. Financial Overview
  9.1.3. Product Offerings
  9.1.4. Developments
  9.1.5. Business Strategy
9.2. Akzo Nobel N.V.
  9.2.1. Overview
  9.2.2. Financial Overview
  9.2.3. Product Offerings
  9.2.4. Developments
  9.2.5. Business Strategy
9.3. Arkema S.A.
  9.3.1. Overview
  9.3.2. Financial Overview
  9.3.3. Product Offerings
  9.3.4. Developments
  9.3.5. Business Strategy
9.4. Axalta Coating Systems Ltd.
  9.4.1. Overview
  9.4.2. Financial Overview
  9.4.3. Product Offerings
  9.4.4. Developments
  9.4.5. Business Strategy
9.5. Bechtel Corporation
  9.5.1. Overview
  9.5.2. Financial Overview
  9.5.3. Product Offerings
  9.5.4. Developments
  9.5.5. Business Strategy
9.6. Clariant AG
  9.6.1. Overview
  9.6.2. Financial Overview
  9.6.3. Product Offerings
  9.6.4. Developments
  9.6.5. Business Strategy
9.7. General Electric (GE)
  9.7.1. Overview
  9.7.2. Financial Overview
  9.7.3. Product Offerings
  9.7.4. Developments
  9.7.5. Business Strategy
9.8. Hammer packaging
  9.8.1. Overview
  9.8.2. Financial Overview
  9.8.3. Product Offerings
  9.8.4. Developments
  9.8.5. Business Strategy
9.9. RPM INTERNATIONAL
  9.9.1. Overview
  9.9.2. Financial Overview
  9.9.3. Product Offerings
  9.9.4. Developments
  9.9.5. Business Strategy
9.10. Sherwin Williams Company
  9.10.1. Overview
  9.10.2. Financial Overview
  9.10.3. Product Offerings
  9.10.4. Developments
  9.10.5. Business Strategy

10. ANALYST OPINION


11. ANNEXURE

11.1. Report Scope
11.2. Market Definitions
11.3. Research Methodology
  11.3.1. Data Collation and In-house Estimation
  11.3.2. Market Triangulation
  11.3.3. Forecasting
11.4. Report Assumptions
11.5. Declarations
11.6. Stakeholders
11.7. Abbreviations

12. LIST OF TABLES

TABLE 1. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 2. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR REVERSIBLE, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 3. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR IRREVERSIBLE, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 4. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 5. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR DECORATIVE, 2022-2028 (USD BILLION)
TABLE 6. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR FOOD, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 7. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR INDUSTRIAL, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 8. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR OTHERS, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 9. NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
TABLE 10. NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 11. NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 12. U.S THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 13. U.S THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 14. CANADA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 15. CANADA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 16. EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
TABLE 17. EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 18. EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, END-USERS, 2022-2028 (USD BILLION)
TABLE 19. GERMANY THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 20. GERMANY THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 21. U.K THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 22. U.K THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 23. FRANCE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 24. FRANCE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 25. ITALY THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 26. ITALY THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 27. SPAIN THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 28. SPAIN THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 29. ROE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 30. ROE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 31. ASIA PACIFC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
TABLE 32. ASIA PACIFC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 33. ASIA PACIFC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 34. CHINA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 35. CHINA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 36. INDIA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 37. INDIA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 38. JAPAN THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 39. JAPAN THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 40. REST OF APAC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 41. REST OF APAC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 42. REST OF WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
TABLE 43. REST OF WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
TABLE 44. 3M: FINANCIALS
TABLE 45. 3M: PRODUCTS & SERVICES
TABLE 46. 3M: RECENT DEVELOPMENTS
TABLE 47. AKZO NOBEL N.V.: FINANCIALS
TABLE 48. AKZO NOBEL N.V.: PRODUCTS & SERVICES
TABLE 49. AKZO NOBEL N.V.: RECENT DEVELOPMENTS
TABLE 50. ARKEMA S.A.: FINANCIALS
TABLE 51. ARKEMA S.A.: PRODUCTS & SERVICES
TABLE 52. ARKEMA S.A.: RECENT DEVELOPMENTS
TABLE 53. AXALTA COATING SYSTEMS LTD.: FINANCIALS
TABLE 54. AXALTA COATING SYSTEMS LTD.: PRODUCTS & SERVICES
TABLE 55. AXALTA COATING SYSTEMS LTD.: RECENT DEVELOPMENTS
TABLE 56. BECHTEL CORPORATION: FINANCIALS
TABLE 57. BECHTEL CORPORATION: PRODUCTS & SERVICES
TABLE 58. BECHTEL CORPORATION: RECENT DEVELOPMENTS
TABLE 59. CLARIANT AG: FINANCIALS
TABLE 60. CLARIANT AG: PRODUCTS & SERVICES
TABLE 61. CLARIANT AG: RECENT DEVELOPMENTS
TABLE 62. GENERAL ELECTRIC (GE): FINANCIALS
TABLE 63. GENERAL ELECTRIC (GE): PRODUCTS & SERVICES
TABLE 64. GENERAL ELECTRIC (GE): RECENT DEVELOPMENTS
TABLE 65. HAMMER PACKAGING: FINANCIALS
TABLE 66. HAMMER PACKAGING: PRODUCTS & SERVICES
TABLE 67. HAMMER PACKAGING: RECENT DEVELOPMENTS
TABLE 68. RPM INTERNATIONAL: FINANCIALS
TABLE 69. RPM INTERNATIONAL: PRODUCTS & SERVICES
TABLE 70. RPM INTERNATIONAL: RECENT DEVELOPMENTS
TABLE 71. SHERWIN WILLIAMS COMPANY: FINANCIALS
TABLE 72. SHERWIN WILLIAMS COMPANY: PRODUCTS & SERVICES
TABLE 73. SHERWIN WILLIAMS COMPANY: RECENT DEVELOPMENTS

12. LIST OF CHARTS

CHART. 1. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 2. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR REVERSIBLE, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 3. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR IRREVERSIBLE, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 4. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 5. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR DECORATIVE, 2022-2028 (USD BILLION)
CHART. 6. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR FOOD, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 7. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR INDUSTRIAL, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 8. GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE FOR OTHERS, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 9. NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
CHART. 10. NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 11. NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 12. U.S THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 13. U.S THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 14. CANADA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 15. CANADA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 16. EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
CHART. 17. EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 18. EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, END-USERS, 2022-2028 (USD BILLION)
CHART. 19. GERMANY THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 20. GERMANY THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 21. U.K THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 22. U.K THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 23. FRANCE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 24. FRANCE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 25. ITALY THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 26. ITALY THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 27. SPAIN THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 28. SPAIN THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 29. ROE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 30. ROE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 31. ASIA PACIFC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
CHART. 32. ASIA PACIFC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 33. ASIA PACIFC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 34. CHINA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 35. CHINA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 36. INDIA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 37. INDIA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 38. JAPAN THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 39. JAPAN THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 40. REST OF APAC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 41. REST OF APAC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)
CHART. 42. REST OF WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2022-2028 (USD BILLION)
CHART. 43. REST OF WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END-USERS, 2022-2028 (USD BILLION)