Global Thermochromic Materials Market

Thermochromic materials are generally organic leuco-dye mixtures, composed by the color former, the color developer, and the solvent. They are mainly used as temperature indicators in many industrial sectors, to determine the temperature variation and reaction heat in chemical reactions, to measure temperature distribution of chemical heating apparatus such as heat exchangers and reactors, and to indicate the temperature variation in containers for chemicals and dangerous goods and storage vaults. The global thermochromic materials market was valued at USD 1,581 million in 2021 to USD 2,965 million by 2028, progressing at a CAGR of 9.4% from 2022 to 2028, according to Gen Consulting Company.

The report provides in-depth analysis and insights regarding the current global market scenario, latest trends and drivers into global thermochromic materials market. It offers an exclusive insight into various details such as market size, key trends, competitive landscape, growth rate and market segments. This study also provides an analysis of the impact of the COVID-19 crisis on the thermochromic materials industry.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the form, system, source, application, and region. The global market for thermochromic materials can be segmented by form: thermochromic liquid crystal (TLC), thermochromic powder, thermochromic slurry, others. According to the research, the thermochromic slurry segment had the largest share in the global thermochromic materials market. Thermochromic materials market is further segmented by system: macromolecular systems, molecular rearrangement, stereoisomerism, supramolecular systems, others. In 2021, the molecular rearrangement segment made up the largest share of revenue generated by the thermochromic materials market. Based on source, the thermochromic materials market is segmented into: inorganic thermochromic material, organic thermochromic material, others. Among these, the inorganic thermochromic material segment was accounted for the highest revenue generator in 2021. On the basis of application, the thermochromic materials market also can be divided into: industrial, packaging, printing inks, paints and coatings, textile, others. The textile segment captured the largest share of the market in 2021. Thermochromic materials market by region is categorized into: Asia Pacific, Europe, North America, Rest of the World (RoW).

By form:
– thermochromic liquid crystal (TLC)
– thermochromic powder
– thermochromic slurry
– others

By system:
– macromolecular systems
– molecular rearrangement
– stereoisomerism
– supramolecular systems
– others

By source:
– inorganic thermochromic material
– organic thermochromic material
– others

By application:
– industrial
– packaging
– printing inks, paints and coatings
– textile
– others

By region:
– Asia Pacific
– Europe
– North America
– Rest of the World (RoW)

On the basis of country level, the market of thermochromic materials is sub divided into USA, Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Brazil.

The report explores the recent developments and profiles of key vendors in the Global Thermochromic Materials Market, including Chromatic Technologies Inc. (CTI), GEM’INNOV, Hali Industrial Co., Ltd., Kolorjet Chemicals Pvt Ltd., Kolortek Co., Ltd., Matsui International Co., Inc., New Color Chemical Co., Ltd., Olikrom Company, QCR Solutions Corp, Smarol Industry Co., Ltd., among others.

Historical & Forecast Period
This research report provides analysis for each segment from 2018 to 2028 considering 2021 to be the base year.

Scope of the Report
– To analyze and forecast the market size of the global thermochromic materials market.
– To classify and forecast the global thermochromic materials market based on form, system, source, application, region.
– To identify drivers and challenges for the global thermochromic materials market.
– To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global thermochromic materials market.
– To identify and analyze the profile of leading players operating in the global thermochromic materials market.

Why Choose This Report
– Gain a reliable outlook of the global thermochromic materials market forecasts from 2022 to 2028 across scenarios.
– Identify growth segments for investment.
– Stay ahead of competitors through company profiles and market data.
– The market estimate for ease of analysis across scenarios in Excel format.
– Strategy consulting and research support for three months.
– Print authentication provided for the single-user license.

Global Thermochromic Materials Market

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Global Thermochromic Materials Market - Report Scope


Base Year


Forecast Year


CAGR (2022-2028)




Key Players

Alpek S.A.B. de C.V., Americas Styrenics LLC, Asahi Kasei Corporation, BASF SE, Chevron Phillips Chemical LLC, Eni S.p.A., INEOS Styrolution Group GmbH, Lanxess AG, Lotte Chemical Corporation, Lyondellbasell Industries Holdings B.V., Nizhnekamskneftekhim PJSC, Reichhold LLC, Repsol S.A., Saudi Basic Industries Corporation (SABIC), Shell Chemical LP, Sibur Holding PAO, Synthos S.A., TotalEnergies SE, Trinseo S.A.

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