Thermochromic pigments are special pigments that change color when they detect temperature change, it can be either high temperature or low temperature. The pigments are very sensitive to temperature change. Consequently, thermochromic pigments are used for various applications such as textile printing, plastics, mugs, and others. In textile printing, thermochromic pigments are used with normal textile pigments for printing textiles. When the print undergoes a change in temperature, it changes color. For instance, if normal yellow textile pigment is mixed with blue thermochromic pigment, the resulting product will be green color, which will change to yellow when it senses or undergoes a change in temperature. Thermochromic pigment is used in plastic bottles and mugs to detect temperature of the liquid present in the bottle or mug.

In terms of application type, the thermochromic pigments market can be segmented into paints & coatings, ink printing, and plastic products. In these industries the pigments are used to display the temperature change of the product. The usage of thermochromic pigment in ink printing can usually be seen on beer wrappers indicating the coldness of beer, or on the stickers of pizza delivery boxes indicating hotness of the pizza. The ink printing segment held a major share of the market in 2016, globally. Rise in standard of living, quality of life, disposable income, and development of economy of various countries such China and India, is anticipated to boost the thermochromic pigments market across the globe.

In terms of product type, the thermochromic pigments market can be segmented into reversible and irreversible pigments. In reversible thermochromic pigments, the color change of the pigment is reversible and is majorly employed in decorative products. The Reversible thermochromic pigments segment held a prominent share of the market in 2016. Irreversible thermochromic pigments can change color only once, and the color is not reversible at all. These pigments are cheaper as compared to the reversible ones and have comparatively lower market share in 2016.

In terms of region, North America held a major share of the market across the globe, in 2016. Increasing demand for thermochromic pigments in the U.S. for printing application is the reason for the high share of the product in the region. The share of Asia Pacific region is anticipated to rise rapidly in the near future due to rising usage of thermochromic pigments in the textile industry. Furthermore, the automotive industry of Japan is witnessing a rising demand for thermochromic pigments. This, in turn, is estimated to drive the market in Asia Pacific. Europe followed North America in terms of market share. Increasing demand for thermochromic food quality indicators in countries such as Germany, France, and the U.K. is projected to fuel the market for thermochromic materials in Europe. The rising demand for food quality indicators is seen to determine the quality of frozen meat and dairy products. It is projected to be the contributing factors for the demand for food quality indicators in the region. Middle East & Africa held an average share in the market. The region is expected to rise with an average growth rate.

Key manufacturers of thermochromic pigments across the globe include E. I. DuPont de Nemours and Company, RPM International, OliKrom, Sherwin-Williams Co., Chromatic Technologies Inc., NanoMatriX International Ltd, The 3M Company, and Hammer Packaging.

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