Thermochromic Materials Market To Reach $8.78 Billion By 2030

Thermochromic Materials Market Growth & Trends

The global thermochromic materials market size is estimated to reach USD 8.78 billion by 2030, registering to grow at a CAGR of 5.2% from 2024 to 2030 according to a new report by Grand View Research, Inc. The growing demand for reversible thermochromic materials in application industries is expected to drive demand over the forecast period.

Growing demand for thermochromic materials in food quality indicators to determine the quality of frozen meat and dairy products coupled with the increasing use of thermochromic pigments in inks, paints, and coatings is expected to drive market growth over the forecast period.

Color diversity, cost-effectiveness, and manufacturing process flexibility are some of the major advantages of thermochromic materials. As a result, the demand for thermochromic pigments in novelty products is increasing significantly. In addition, the use of reversible temperature-sensitive materials in baby products and sensors is expected to aid growth over the next eight years.

Complex chemical formulation coupled with the difficulty in maintaining the formulation stability of reversible thermochromic materials is expected to hamper the demand for the materials over the forecast period. However, constant research & development projects undertaken by the manufacturers are expected to aid in the development of stable reversible materials, which in turn is likely to attract demand from the application industries.

 Request a free sample copy or view report summary: Thermochromic Materials Market Report

Thermochromic Materials Market Report Highlights

• Irreversible product segment dominated the market and accounted for the largest revenue share of 62.5% in 2023. Irreversible thermochromic materials are valuable in many applications and are used in medical, packaging, and industrial sectors.

• Pigment applications led the market and accounted for the largest revenue share of 42.0% in 2023.

• Food quality indicators are anticipated to grow significantly over the forecast period.

• Europe thermochromic materials market dominated the global market and accounted for the largest revenue share of 31.5% in 2023.

Thermochromic Materials Market Segmentation

Grand View Research has segmented the global thermochromic materials market based on product, application, and region:

Thermochromic Materials Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Reversible

• Irreversible

Thermochromic Materials Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Food quality indicators

• Papers

• Pigments

• Thermometers

• Others

Thermochromic Materials Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • Japan

  • India

• Latin America

  • Brazil

List of Key Players in Thermochromic Materials Market

• SFXC

• Indestructible Paints Limited

• H.W. Sands Corp.

• Fraunhofer IAP

• Olikrom

• Kolortek Co., Ltd.

• Shanghai Caison Color Material Chem. Co., Ltd.

• Thermographics

• Smarol Industry Limited. 

• NEW PRISMATIC ENTERPRISE CO., LTD.