NEW YORK, Oct. 26, 2016 /PRNewswire/ -- The global temperature sensitive coating market value is expected to reach USD 362.8 million by 2024, according to a new report by Grand View Research, Inc. Growing applications scope in traffic road marking and the automotive industry is expected to drive product demand over the forecast period. Temperature sensitive coating has been widely used in thermometer labels including fridge, nursery, forehead and aquarium thermometers.
Rising product demand in the household sector, particularly in economies such as Brazil, India, China and Vietnam owing to growing consumer disposable income, is expected to drive the market growth over the next eight years.
Reversible temperature sensitive coating dominated the global demand and accounted for over 65% of total volume in 2015. This trend is anticipated to continue over the forecast period on account of rising demand from the various application such as textiles, room & refrigeration thermometers, food quality indicators, promotional items, forehead thermometers, temperature sensitive plastics & mugs, and toys.