The latest market report published by Credence Research, Inc. “Thermochromic Materials Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025,” the global market for thermochromic materials is expected to grow by 9.1 per cent during the forecast period from 2017 to 2025.
The global market for thermochromic materials is experiencing growth mainly due to increased demand for innovative temperature-based products and ability to change color for functional applications. In addition, the increasing demand for thermochromic pigments in paints and coatings, together with an increase in demand for thermochromic materials in food quality indicators to determine the quality of dairy products and frozen meat, is another factor driving market growth.
Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/thermochromic-materials-market
Reversible technology is preferred over the irreversible technology. But, attaining reversibility by maintaining the stability of the solution is a complicated process, thus hampered the growth of the market.
However, various R & D projects are undertaken by the manufacturers to develop stable reversible materials, which is likely to enhance demand for reversible materials from the various application industries.
At present the market is in a nascent stage. Most of the manufacturers are attempting to achieve full commercialization. The market is monopolistic in nature and characterized by the presence of few key players. Manufacturers are catering to their local markets. Moreover, entry barriers are high for the new entrants. Some of the players present in this market are Olikrom, Fraunhofer IAP, SFXC, H.W. Sands Corp., and Smarol Industry Co. Ltd. among others.
- Increasing R & D projects undertaken by manufacturers
- Rising demand from end use application
- Asia Pacific offers huge market potential
You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/58769
Report Scope by Segments
By Application Type
- Food Quality Indicators
By Geography Segment
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)