Thermochromic Paints & Coatings Market By Type (Reversible, Irreversible), By Application (Decorative, Food, Industrial) and By Geography – Global Driver, Restraints, Opportunities, Trends, and Forecast to 2023

Thermochromic paints & coatings are designed in such a way that they change the color at a specific temperature, providing a visual indication of a temperature change. A special type of pigments, known as thermochromic pigments, are available in the market to manufacture thermochromic paints & coatings. In recent years, thermochromic paints & coatings have grown extraordinarily with the global thermochromic market attracting a significant share.

Research Methodology

The thermochromic paints & coatings market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:

Key Market Insights

Thermochromic paints & coatings have created a niche market in various applications. Thermochromic paints & coatings can be used for many different reasons, including safety indicators on thermally sensitive systems or indication of the thermal history. The demand for thermochromic paints & coatings is surging in the food industry. Two main types of thermochromic paints & coatings are available in the market, i.e., reversible-based and irreversible-based.

The extensive use of these products in decorative and food sectors has given a massive boost to the thermochromic paints & coatings market in recent years. The rapid growth in economies across the globe and the increasing per capita income among consumers in developing countries are increasing the demand for decorations. This, in turn, is increasing the demand for thermochromic paints & coatings in infrastructure. The infrastructure sector is presently leading the market and is expected to remain the same during the forecast period. Emerging economies such as China, India, and Brazil are looking forward to take advantage of the benefits of thermochromic paints & coatings. Further, the industrial and FMCG packaging market growth is expected to foster the thermochromic paints & coatings market.

North America is the largest thermochromic paints & coatings market globally due to the presence of export-oriented manufacturing capacities and intense domestic demand from various end-user industries. The increase in food manufacturing and building construction is further driving the market growth in the region. The anticipated economic stability in Europe is expected to boost its manufacturing sector, complementing the growth of the thermochromic paints & coatings market. North America is likely to remain as the key region with a significant contribution coming from the US. Few of the prominent companies operating in the thermochromic paints & coatings market are Sherwin Williams, AkzoNobel N.V., RPM International, Axalta Coating Systems Ltd., and Arkema.

Types:

  • Reversible
  • Irreversible

End-users:

  • Decorative
  • Food
  • Industrial
  • Others

Geography:

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

1     Report Outline 

1.1        Introduction

1.2        Report Scope

1.3        Market Definition

1.4        Research Methodology

1.4.1     Data Collation & In-house Estimation

1.4.2     Market Triangulation

1.4.3     Forecasting

1.5        Study Declarations

1.6        Report Assumptions

1.7        Stakeholders

2     Executive Summary 

2.1        Asia Pacific Perceiving Highest Growth Rate

2.2        Decorative Segment Will Experience an Acceleration

3     Market Positioning 

3.1        Total Addressable Market: Sealant Market

3.1.1     Market Overview

3.1.2     Major Trends

3.2        Segmented Addressable Market

3.3        Related Markets

4     Market Outlook 

4.1        Overview

4.2        Value Chain Analysis

4.3        PESTLE Analysis

4.4        Porter 5 (Five) Forces

4.5        Patent Analysis

5     Market Characteristics 

5.1        Market Segmentation

5.2        Market Dynamics

5.2.1     Drivers

5.2.1.1 Increasing demand in FMCG packaging

5.2.1.2 Increasing affordability of thermochromic products

5.2.2     Restraints

5.2.2.1 Raw material price fluctuations

5.2.2.2 Low awareness of thermochromic paints & coatings in emerging economies

5.2.3     Opportunities

5.2.3.1 Technological development in the products

5.2.3.2 Large untapped market in developing and underdeveloped countries

5.2.4     DRO – Impact Analysis

6     By Type: Market Size and Analysis 

6.1        Overview

6.2        Reversible Thermochromic Paints & Coatings

6.3        Irreversible Thermochromic Paints & Coatings

6.4        Vendor Profiles

6.4.1     Sherwin-Williams Co.

6.4.2     Akzo Nobel N.V.

6.4.3     RPM INTERNATIONAL

6.4.4     Axalta Coating Systems Ltd.

6.4.5     Arkema

(Overview, business units, geographic revenues, product profile, recent developments, business focSWOT analysis and business strategies have been covered for all the vendors)

7     Application: Market Size and Analysis 

7.1        Overview

7.2        Decorative

7.3        Food  72

7.4        Industrial

7.5        Customer Profiles

7.5.1     Hammer packaging

7.5.2     3M

7.5.3     VINCI

7.5.4     Bechtel Corporation

7.5.5     General Electric (GE)

(Overview, business units, geographic revenues, product profile, recent developments, business focSWOT analysis and business strategies have been covered for all the customers)

8     Regions: Market Size and Analysis 

8.1        Overview

8.2        Asia Pacific

8.3        North America

8.4        Europe

8.5        Rest of the World

(Segmental coverage of by geography, by types, and by end-user have been covered for each regi

9     Companies to watch for 

9.1        3M company

9.1.1     Overview

9.2        Clariant

9.2.1.1 Business units

9.2.2     Creation of New product for Thermochromic Pigment

10  Competitive Landscape 

10.1     Competitor Comparison Analysis

10.2     Market Landscape

10.2.1  Mergers, Acquisitions, & Joint Ventures

10.2.2  Awards & Recognizing

10.2.3  Exhibition & Product Launch

10.2.4  Expansion

10.2.5  Others

11  Expert’s Views 

12  Annexure 

Abbreviations

 

Infoholic research works on a holistic 360° approach in order to deliver high quality, validated and reliable information in our market reports. The Market estimation and forecasting involves following steps:

  • Data Collation (Primary & Secondary)
  • In-house Estimation (Based on proprietary data bases and Models)
  • Market Triangulation
  • Forecasting

infoholic Research Methodology

Market related information is congregated from both primary and secondary sources.

Primary sources involved participants from all global stakeholders such as Solution providers, service providers, Industry associations, thought leaders etc. across levels such as CXOs, VPs and managers. Plus, our in-house industry experts having decades of industry experience contribute their consulting and advisory services.

Secondary sources include public sources such as regulatory frameworks, government IT spending, government demographic indicators, industry association statistics, and company publications along with paid sources such as Factiva, OneSource, Bloomberg among others.

  • 128
    Pages

  • 64
    Tables

  • 54
    Charts

  • 4/9
    Regions/ Countries

  • 10
    Companies

  • 10
    Enquiry Hours