According to the GMI Research , “Global Thermochromic Pigments Market, By Type, By Application and By Geography, Opportunities & Forecast, 2016–2021”, the market for thermochromic pigments across the globe is projected to reach USD 1353.2 million by the end of 2021, growing at a substantial CAGR of 8.3% during the forecast period, from USD 905.2 million in 2016. The key factors responsible for market growth are booming demand from print packaging industry, increasing utilization of thermochromic pigments in smart textiles and plastics as well as rising prominence of thermochromic pigments in the infrastructure segment worldwide.
Browse Press Release: https://www.gmiresearch.com/press-release-description.php?descid=8
Based on type, reversible thermochromic pigments segment is expected to garner the largest share in the market
Reversible thermochromic pigments segment is anticipated to capture the largest share of the total market. Theextensive usage in print packaging industry to indicate temperature change and surging employment in decorative products are some of the significant aspects fueling growth of reversible thermochromic pigments segment. Property of reversible thermochromic pigments to change color at a defined temperature and then recovering the original color when temperature drops below make them a best fit for typical applications majorly in industrial maintenance control, overheating of engine parts, print packaging and interior decoration. Besides that, the average selling price of reversible thermochromic pigments is higher when compared with the irreversible ones. Irreversible thermochromic pigments are capable of changing color only once and the color is not at all reversible. Irreversible thermochromic pigments are being majorly used in prevention of thermal faults.
Based on application, ink printing segment is projected to be the fastest growing segment during the forecast period
Ink printing segment is expected to control the largest share through 2021 due to escalated demand for thermochromic pigments by smart packaging and smart textiles sectors worldwide. Moreover, there has been an increased usage of thermochromic inks in packaging industry for labelling, security printing and promotional activities. Thermochromic inks are being used as indicator stripes on beers and beverages to indicate accurate chilling, on pizza boxes to indicate their hotness, on milk cartons to indicate proper refrigeration, among others. Home furnishing as well as fashion industry are majorly developing the thermochromic smart textiles such as temperature sensitive tablecloths, t-shirts, ski-outfits, chairs, etc., which has further provided an impetus to the market.
Get Sample PDF Report Brochure: https://www.gmiresearch.com/sample-research-report.php?rid=70
North America is predicted to hold a major share in the market
Presence of large number of printing ink manufacturers coupled with increasing affordability of thermochromic products are the major reasons likely to spur the market growth in North America over the coming years. United States is a key country in the region with highest consumption of thermochromic pigments owing to its growing smart packaging and smart textiles market. Europe is the second most dominant region in global thermochromic pigments market. Proliferating demand for thermochromic products for utilization in quality detection systems in FMCG sector is a major factor propelling the growth of European market. Asia-Pacific thermochromic pigment market is expected to grow at the highest rate during the forecast period. Countries such as Japan and China were estimated to hold the maximum market share in 2016 in Asia-Pacific. The large automotive industry as well as growing textile industry in the region are likely to drive the growth of market during the forecast period.
About GMI Research
GMI Research is a market research and consulting firm which provides research-based solutions to business executives and investment professionals so that they can make right business & investment decisions faster based on real facts. We help business leaders through independent fact-based insight, ensuring their business achieve success by beating the competition.
GMI Research leverages its industry expertise and experience to identify the industry trends, big opportunities and potential growth areas across industries. Our Syndicated reports provide actionable insights and covers industry trends, market drivers & restraints, macroeconomic factors, market estimates & forecasts, competitive landscape etc. which helps our clients to strengthen its market position by deploying specific strategies and actions that will lead to higher growth.
Our Customized Research (Market Intelligence and Competitive Intelligence) Offerings
Our clients rely on us for the range of our services to give them the intelligence they need to act decisively. GMI Research offers in-depth market and competitive intelligence solutions by leveraging its industry knowledge and experience to provide accurate insights with a complete picture of the market and competition. To know more about our product offering click on the below link
Our Knowledge Services Solutions
GMI Research provides offshore market and competitive intelligence research services to companies worldwide. We leverage our industry knowledge and research expertise gained through various research studies conducted across verticals which enables us to deliver high-level quality support to our clients. By engaging us, our clients can achieve substantial cost reductions by outsourcing non-core functions. As a result, it allows our clients to improve their productivity while managing their in-house resources intelligently.
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: Send Email
Phone: +353 1 442 8820
Address:Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate