Thermochromic Paint Market to record USD 454.64 Mn; Driven by increasing use in food and beverage industry -- Technavio

NEW YORK, Oct. 24, 2022 /PRNewswire/ -- The "Thermochromic Paint Market by Type, Application and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. According to the report, the market will observe an incremental growth of USD 454.64 million, accelerating at a CAGR of 5.18% during the forecast period. To estimate the size of the market, Technavio has considered various factors including the consumer base, retail sales of thermochromic paints, introduction of new products, and revenue generated by vendors among others. Our report sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself by Downloading Free Sample PDF Report.

The market is driven by the increasing use of thermochromic paint in the food and beverage industry. Thermochromic paints are widely used in the food and beverage industry for retort sterilization of filled cans and plastic pouches. The ink changes its color from black to blue when the food package reaches the correct temperature of between 115 and 125 degree Celsius. With the growing need for proper coding and marking on food products, the demand for thermochromic paints to ensure product authenticity and quality assurance with increase during the forecast period.

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Thermochromic Paint Market 2022-2026: Segmentation

The global thermochromic paint market is segmented as below:

• Type 
• Reversible
• Irreversible

The reversible segment will have the largest share of the market. Reversible thermochromic paints are used for a variety of purposes, such as security and brand protection, novelty promotional products, and toys. They are appropriate for aqueous, non-aqueous, and radiation-cured formulations. Some of the benefits of reversible thermochromic paints include high color strength possibility, good lightfastness under visible light, and color changes over a relatively narrow temperature range. These benefits are increasing their use in food and beverages and interactive packaging solutions.

• Application 
• Automotive
• Building and Construction
• Textile
• Packaging
• Others

By application, the automotive segment is the largest revenue-generating segment in the market. The extensive use of thermochromic pigments in automotive applications such as radiators, motors, and fireproof doors is driving the growth of the segment. The market growth in the segment will be significant over the forecast period.

• Geography 
• APAC
• Europe
• North America
• The Middle East and Africa
• South America

About 54% of the market growth is expected to originate from APAC during the forecast period. The increasing demand for thermochromic paints in smart packaging and smart textiles is driving the growth of the regional market. In addition, the increasing sales of automobiles and the growth in the construction industry are positively influencing the growth of the thermochromic paint market in APAC.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our thermochromic paint market report covers the following areas:

• Thermochromic Paint Market Size
• Thermochromic Paint Market Trends
• Thermochromic Paint Market Industry Analysis

Thermochromic Paint Market 2022-2026: Vendor Analysis

Technavio provides a detailed analysis of around 25 vendors operating in the thermochromic paint market, including some of the dominant vendors. Backed with competitive intelligence and benchmarking, our research report on the thermochromic paint market is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Technavio identifies Axalta Coating Systems Ltd., BASF SE, Chromatic Technologies Inc., CROMAS Srl, Flint Group, FX Pigments Pvt. Ltd., Geminnov, Hali Industrial co. ltd., Insilico Co. Ltd., Kolortek Co. Ltd., Lawrence Industries, LCR Hallcrest LLC, Matsui International Inc., MG Chemicals Ltd., NanoMatriX International Ltd., New Color Chemical Co. Ltd., Olikrom SAS, QCR Solutions Corp., Smarol Industry Co. Ltd., and The Sherwin Williams Co. as major vendors in the market.

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Thermochromic Paint Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist thermochromic paint market growth during the next five years
• Estimation of the thermochromic paint market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the thermochromic paint market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of thermochromic paint market vendors

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Table Of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis
• Exhibit 13: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026
• Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary
• Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers
• Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers
• Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants
• Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes
• Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry
• Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition
• Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

• 5.1 Market segments
• Exhibit 25: Chart on Type - Market share 2021-2026 (%)
• Exhibit 26: Data Table on Type - Market share 2021-2026 (%)

• 5.2 Comparison by Type
• Exhibit 27: Chart on Comparison by Type
• Exhibit 28: Data Table on Comparison by Type

• 5.3 Reversible - Market size and forecast 2021-2026
• Exhibit 29: Chart on Reversible - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Data Table on Reversible - Market size and forecast 2021-2026 ($ million)
• Exhibit 31: Chart on Reversible - Year-over-year growth 2021-2026 (%)
• Exhibit 32: Data Table on Reversible - Year-over-year growth 2021-2026 (%)

• 5.4 Irreversible - Market size and forecast 2021-2026
• Exhibit 33: Chart on Irreversible - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Data Table on Irreversible - Market size and forecast 2021-2026 ($ million)
• Exhibit 35: Chart on Irreversible - Year-over-year growth 2021-2026 (%)
• Exhibit 36: Data Table on Irreversible - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Type
• Exhibit 37: Market opportunity by Type ($ million)

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 38: Chart on Application - Market share 2021-2026 (%)
• Exhibit 39: Data Table on Application - Market share 2021-2026 (%)

• 6.2 Comparison by Application
• Exhibit 40: Chart on Comparison by Application
• Exhibit 41: Data Table on Comparison by Application

• 6.3 Automotive - Market size and forecast 2021-2026
• Exhibit 42: Chart on Automotive - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on Automotive - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on Automotive - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on Automotive - Year-over-year growth 2021-2026 (%)

• 6.4 Building and construction - Market size and forecast 2021-2026
• Exhibit 46: Chart on Building and construction - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on Building and construction - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on Building and construction - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on Building and construction - Year-over-year growth 2021-2026 (%)

• 6.5 Textile - Market size and forecast 2021-2026
• Exhibit 50: Chart on Textile - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Textile - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Textile - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Textile - Year-over-year growth 2021-2026 (%)

• 6.6 Packaging - Market size and forecast 2021-2026
• Exhibit 54: Chart on Packaging - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Packaging - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Packaging - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Packaging - Year-over-year growth 2021-2026 (%)

• 6.7 Others - Market size and forecast 2021-2026
• Exhibit 58: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 6.8 Market opportunity by Application
• Exhibit 62: Market opportunity by Application ($ million)

7 Customer Landscape

• 7.1 Customer landscape overview
• Exhibit 63: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

• 8.1 Geographic segmentation
• Exhibit 64: Chart on Market share by geography 2021-2026 (%)
• Exhibit 65: Data Table on Market share by geography 2021-2026 (%)

• 8.2 Geographic comparison
• Exhibit 66: Chart on Geographic comparison
• Exhibit 67: Data Table on Geographic comparison

• 8.3 APAC - Market size and forecast 2021-2026
• Exhibit 68: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 69: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 70: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 71: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 8.4 Europe - Market size and forecast 2021-2026
• Exhibit 72: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 73: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 74: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 75: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 8.5 North America - Market size and forecast 2021-2026
• Exhibit 76: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 77: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 78: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 79: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 8.6 Middle East and Africa - Market size and forecast 2021-2026
• Exhibit 80: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 81: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 82: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 83: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 8.7 South America - Market size and forecast 2021-2026
• Exhibit 84: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 85: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 86: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 87: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 8.8 China - Market size and forecast 2021-2026
• Exhibit 88: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 89: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 90: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 91: Data Table on China - Year-over-year growth 2021-2026 (%)

• 8.9 US - Market size and forecast 2021-2026
• Exhibit 92: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 93: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 94: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 95: Data Table on US - Year-over-year growth 2021-2026 (%)

• 8.10 India - Market size and forecast 2021-2026
• Exhibit 96: Chart on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 97: Data Table on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 98: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 99: Data Table on India - Year-over-year growth 2021-2026 (%)

• 8.11 Germany - Market size and forecast 2021-2026
• Exhibit 100: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 101: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 102: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 103: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 8.12 France - Market size and forecast 2021-2026
• Exhibit 104: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 105: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 106: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 107: Data Table on France - Year-over-year growth 2021-2026 (%)

• 8.13 Market opportunity by geography
• Exhibit 108: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

• 9.1 Market drivers

• 9.2 Market challenges

• 9.3 Impact of drivers and challenges
• Exhibit 109: Impact of drivers and challenges in 2021 and 2026

• 9.4 Market trends

10 Vendor Landscape

• 10.1 Overview

• 10.2 Vendor landscape
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 10.3 Landscape disruption
• Exhibit 111: Overview on factors of disruption

• 10.4 Industry risks
• Exhibit 112: Impact of key risks on business

11 Vendor Analysis

• 11.1 Vendors covered
• Exhibit 113: Vendors covered

• 11.2 Market positioning of vendors
• Exhibit 114: Matrix on vendor position and classification

• 11.3 Chromatic Technologies Inc.
• Exhibit 115: Chromatic Technologies Inc. - Overview
• Exhibit 116: Chromatic Technologies Inc. - Product / Service
• Exhibit 117: Chromatic Technologies Inc. - Key offerings

• 11.4 CROMAS Srl
• Exhibit 118: CROMAS Srl - Overview
• Exhibit 119: CROMAS Srl - Product / Service
• Exhibit 120: CROMAS Srl - Key offerings

• 11.5 Geminnov
• Exhibit 121: Geminnov - Overview
• Exhibit 122: Geminnov - Product / Service
• Exhibit 123: Geminnov - Key offerings

• 11.6 Hali Industrial co. ltd.
• Exhibit 124: Hali Industrial co. ltd. - Overview
• Exhibit 125: Hali Industrial co. ltd. - Product / Service
• Exhibit 126: Hali Industrial co. ltd. - Key offerings

• 11.7 Insilico Co. Ltd.
• Exhibit 127: Insilico Co. Ltd. - Overview
• Exhibit 128: Insilico Co. Ltd. - Product / Service
• Exhibit 129: Insilico Co. Ltd. - Key offerings

• 11.8 Matsui International Inc.
• Exhibit 130: Matsui International Inc. - Overview
• Exhibit 131: Matsui International Inc. - Product / Service
• Exhibit 132: Matsui International Inc. - Key offerings

• 11.9 New Color Chemical Co. Ltd.
• Exhibit 133: New Color Chemical Co. Ltd. - Overview
• Exhibit 134: New Color Chemical Co. Ltd. - Product / Service
• Exhibit 135: New Color Chemical Co. Ltd. - Key offerings

• 11.10 Olikrom SAS
• Exhibit 136: Olikrom SAS - Overview
• Exhibit 137: Olikrom SAS - Product / Service
• Exhibit 138: Olikrom SAS - Key offerings

• 11.11 QCR Solutions Corp.
• Exhibit 139: QCR Solutions Corp. - Overview
• Exhibit 140: QCR Solutions Corp. - Product / Service
• Exhibit 141: QCR Solutions Corp. - Key offerings

• 11.12 Smarol Industry Co. Ltd.
• Exhibit 142: Smarol Industry Co. Ltd. - Overview
• Exhibit 143: Smarol Industry Co. Ltd. - Product / Service
• Exhibit 144: Smarol Industry Co. Ltd. - Key offerings

12 Appendix

• 12.1 Scope of the report

• 12.2 Inclusions and exclusions checklist
• Exhibit 145: Inclusions checklist
• Exhibit 146: Exclusions checklist

• 12.3 Currency conversion rates for US$
• Exhibit 147: Currency conversion rates for US$

• 12.4 Research methodology
• Exhibit 148: Research methodology
• Exhibit 149: Validation techniques employed for market sizing
• Exhibit 150: Information sources

• 12.5 List of abbreviations
• Exhibit 151: List of abbreviations

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