Thermochromic Pigment Market: By Type (Reversible and Irreversible) & By Application (Paint & Coating, Ink Printing, Plastic) - Global Trends and Forecast to 2028

August 2023 | | ID: T60A0937788CEN
IHR Insights

Abstracts

Thermochromic pigments are a type of specialized color-changing pigments that respond to changes in temperature by altering their color. When exposed to heat or cold, these pigments undergo a reversible chemical or physical change, causing them to shift from one color to another. This unique characteristic makes them popular in various applications, from novelty items to industrial and safety-related products. Consumer preferences have been shifting towards interactive and novelty products that offer unique and engaging experiences. Thermochromic pigments, with their color-changing properties in response to temperature, have captured consumer interest and contributed to the demand for such products. On the other hand, the volatility in the prices of raw materials may hamper the market growth. The Thermochromic Pigments Market is likely to grow at a rate of 6.4% CAGR by 2028.

Thermochromic Pigments Market on the basis of Applications

• Paint & Coating
• Ink printing
• Plastic
• Others (such as Cosmetics)

Thermochromic Pigments Market on the basis of Types

• Reversible Thermochromic Pigment
• Irreversible Thermochromic Pigment

Thermochromic Pigments Market on the basis of Geography

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

As per the applications, the global thermochromic pigment market has been classified into paint and coating, ink printing, plastic and others. The paint and coating segment held the significant share in the thermochromic pigment market as a result of its extensive applications such as automotive clearcoats/topcoats, architectural coatings, Industrial Coatings (water-based), decorative wall paints & house paints. Thermochromic pigments are highly used for coloring agent purposes in architectural coatings to offer improved optical effects during the change from solid state to gas state (reversible) or vice versa (inert). Such trends have resulted to a surge in demand for different types of thermochromic pigments which can be applied using both solvent-borne and water-based formulations.

On the basis of types, the thermochromic pigments market is bifurcated into reversible thermochromic pigment and irreversible thermochromic pigment. The reversible thermochromic pigment segment is projected to have the highest share in the thermochromic pigment market. This type of pigment has been used in new decorations are other applications where temperature warning is required such as battery test strips emergency signs and firefighter equipment.

As per the geographical analysis of the thermochromic pigments market, the regional market is classified by North America, Europe, Asia Pacific and rest of the world. The North America region is projected to be the highest regional market over the forecast period due to rising demand from number of application industries. Moreover, the U.S. dominated the global thermochromic pigment industry. Rising use of these pigments in automotive interiors, architectural paints & coatings and fashion clothing is projected to propel product demand over the estimated period.

The convergence of thermochromic pigments with IoT technology is an emerging global trend. By integrating thermochromic indicators with IoT-enabled devices, companies can monitor temperature changes in real-time and optimize processes in industrial settings or ensure temperature control in sensitive products during transportation. Thus, the above mentioned trend is fueling the global market growth.

The thermochromic pigment market report consists of the list of key market players include RPM International Inc., Chromatic Technologies Inc., Matsui International Company Inc., LCR Hallcrest LLC, OliKrom, E.I. du Pont de Nemours and Company (DuPont), QCR Solutions Corp., Kolortek Co., Ltd., Smarol Industrial Co., Ltd., and New Color Chemical Co., Ltd.

The thermochromic pigment market is expected to continue growing as more industries recognize the potential of these pigments to enhance product appeal and functionality. Technological advancements and increased customization capabilities will likely drive further adoption in various sectors, expanding the scope of thermochromic pigment applications.

• This report analyzes the amount and value of the global thermochromic pigment market, depending on key regions.
• The market report provides a complete analysis of the market with the help of recent market opportunities, overview, outlook, challenges, trends, market dynamics, size and growth, competitive analysis, major competitor’s analysis.
• Report offers details on the historical and present market size and the future potential of the market.
• The report helps players in perceive the present and future constraints in the thermochromic pigment market, and help them map out optimum business strategies to maximize growth in 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. APPLICATIONS: MARKET SIZE & ANALYSIS

5.1. Overview
5.2. Paint & Coating
5.3. Ink printing
5.4. Plastic
5.5. Others (such as Cosmetics)

6. TYPES: MARKET SIZE & ANALYSIS

6.1. Overview
6.2. Reversible Thermochromic Pigment
6.3. Irreversible Thermochromic Pigment

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. RPM International Inc.
  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. Chromatic Technologies Inc.
  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. Matsui International Company Inc.
  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. LCR Hallcrest LLC
  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. OliKrom
  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. E.I. du Pont de Nemours and Company (DuPont)
  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. QCR Solutions Corp.
  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. Kolortek Co., Ltd.
  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. Smarol Industrial Co., Ltd.
  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. New Color Chemical Co., Ltd.
  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
Tables
TABLE 1. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 2. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR PAINT & COATING, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 3. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR INK PRINTING, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 4. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR PLASTIC, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 5. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR OTHERS, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 6. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 7. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR REVERSIBLE THERMOCHROMIC PIGMENT, 2022-2028 (USD BILLION)
TABLE 8. GLOBAL THERMOCHROMIC PIGMENTSMARKET VALUE FOR IRREVERSIBLE THERMOCHROMIC PIGMENT, BY GEOGRAPHY, 2022-2028 (USD BILLION)
TABLE 9. NORTH AMERICA THERMOCHROMIC PIGMENTS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
TABLE 10. NORTH AMERICA THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 11. NORTH AMERICA THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 12. U.S THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 13. U.S THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 14. CANADA THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 15. CANADA THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 16. EUROPE THERMOCHROMIC PIGMENTS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
TABLE 17. EUROPE THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 18. EUROPE THERMOCHROMIC PIGMENTS MARKET VALUE, TYPES, 2022-2028 (USD BILLION)
TABLE 19. GERMANY THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 20. GERMANY THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 21. U.K THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 22. U.K THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 23. FRANCE THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 24. FRANCE THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 25. ITALY THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 26. ITALY THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 27. SPAIN THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 28. SPAIN THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 29. ROE THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 30. ROE THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 31. ASIA PACIFC THERMOCHROMIC PIGMENTS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
TABLE 32. ASIA PACIFC THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 33. ASIA PACIFC THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 34. CHINA THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 35. CHINA THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 36. INDIA THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 37. INDIA THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 38. JAPAN THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 39. JAPAN THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 40. REST OF APAC THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 41. REST OF APAC THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 42. REST OF WORLD THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
TABLE 43. REST OF WORLD THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
TABLE 44. RPM INTERNATIONAL INC.: FINANCIALS
TABLE 45. RPM INTERNATIONAL INC.: PRODUCTS & SERVICES
TABLE 46. RPM INTERNATIONAL INC.: RECENT DEVELOPMENTS
TABLE 47. CHROMATIC TECHNOLOGIES INC.: FINANCIALS
TABLE 48. CHROMATIC TECHNOLOGIES INC.: PRODUCTS & SERVICES
TABLE 49. CHROMATIC TECHNOLOGIES INC.: RECENT DEVELOPMENTS
TABLE 50. MATSUI INTERNATIONAL COMPANY INC.: FINANCIALS
TABLE 51. MATSUI INTERNATIONAL COMPANY INC.: PRODUCTS & SERVICES
TABLE 52. MATSUI INTERNATIONAL COMPANY INC.: RECENT DEVELOPMENTS
TABLE 53. LCR HALLCREST LLC: FINANCIALS
TABLE 54. LCR HALLCREST LLC: PRODUCTS & SERVICES
TABLE 55. LCR HALLCREST LLC: RECENT DEVELOPMENTS
TABLE 56. OLIKROM: FINANCIALS
TABLE 57. OLIKROM: PRODUCTS & SERVICES
TABLE 58. OLIKROM: RECENT DEVELOPMENTS
TABLE 59. E.I. DU PONT DE NEMOURS AND COMPANY (DUPONT): FINANCIALS
TABLE 60. E.I. DU PONT DE NEMOURS AND COMPANY (DUPONT): PRODUCTS & SERVICES
TABLE 61. E.I. DU PONT DE NEMOURS AND COMPANY (DUPONT): RECENT DEVELOPMENTS
TABLE 62. QCR SOLUTIONS CORP.: FINANCIALS
TABLE 63. QCR SOLUTIONS CORP.: PRODUCTS & SERVICES
TABLE 64. QCR SOLUTIONS CORP.: RECENT DEVELOPMENTS
TABLE 65. KOLORTEK CO., LTD.: FINANCIALS
TABLE 66. KOLORTEK CO., LTD.: PRODUCTS & SERVICES
TABLE 67. KOLORTEK CO., LTD.: RECENT DEVELOPMENTS
TABLE 68. SMAROL INDUSTRIAL CO., LTD.: FINANCIALS
TABLE 69. SMAROL INDUSTRIAL CO., LTD.: PRODUCTS & SERVICES
TABLE 70. SMAROL INDUSTRIAL CO., LTD.: RECENT DEVELOPMENTS
TABLE 71. NEW COLOR CHEMICAL CO., LTD.: FINANCIALS
TABLE 72. NEW COLOR CHEMICAL CO., LTD.: PRODUCTS & SERVICES
TABLE 73. NEW COLOR CHEMICAL CO., LTD.: RECENT DEVELOPMENTS
Charts
CHART. 1. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2021-2026 (USD BILLION)
CHART. 2. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR PAINT & COATING, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 3. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR INK PRINTING, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 4. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR PLASTIC, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 5. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR OTHERS, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 6. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 7. GLOBAL THERMOCHROMIC PIGMENTS MARKET VALUE FOR REVERSIBLE THERMOCHROMIC PIGMENT, 2022-2028 (USD BILLION)
CHART. 8. GLOBAL THERMOCHROMIC PIGMENTSMARKET VALUE FOR IRREVERSIBLE THERMOCHROMIC PIGMENT, BY GEOGRAPHY, 2022-2028 (USD BILLION)
CHART. 9. NORTH AMERICA THERMOCHROMIC PIGMENTS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
CHART. 10. NORTH AMERICA THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 11. NORTH AMERICA THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 12. U.S THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 13. U.S THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 14. CANADA THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 15. CANADA THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 16. EUROPE THERMOCHROMIC PIGMENTS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
CHART. 17. EUROPE THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 18. EUROPE THERMOCHROMIC PIGMENTS MARKET VALUE, TYPES, 2022-2028 (USD BILLION)
CHART. 19. GERMANY THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 20. GERMANY THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 21. U.K THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 22. U.K THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 23. FRANCE THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 24. FRANCE THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 25. ITALY THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 26. ITALY THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 27. SPAIN THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 28. SPAIN THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 29. ROE THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 30. ROE THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 31. ASIA PACIFC THERMOCHROMIC PIGMENTS MARKET VALUE, BY COUNTRY, 2022-2028 (USD BILLION)
CHART. 32. ASIA PACIFC THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 33. ASIA PACIFC THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 34. CHINA THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 35. CHINA THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 36. INDIA THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 37. INDIA THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 38. JAPAN THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 39. JAPAN THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 40. REST OF APAC THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 41. REST OF APAC THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)
CHART. 42. REST OF WORLD THERMOCHROMIC PIGMENTS MARKET VALUE, BY APPLICATIONS, 2022-2028 (USD BILLION)
CHART. 43. REST OF WORLD THERMOCHROMIC PIGMENTS MARKET VALUE, BY TYPES, 2022-2028 (USD BILLION)