According to the latest research report titled ‘Thermochromic Materials Market Share, Size, Trends, Industry Analysis Report By Type; By Product; By Application; By Regions: Segment Forecast, 2019 – 2026’, available with Market Study Report, global thermochromic materials market is projected to accumulated USD 8.29 million by the year 2026.
 

Flourishing textile sector and rising popularity of smart textile, in consort with widespread usage of pigment, inks, and paints are fostering the global thermochromic materials market expansion. Consumer preference for packaged food and adoption of intelligent packaging are boosting the demand for food quality indicators and labelling for ensuing quality of frozen food and dairy, hence acting as a growth catalyst for the industry.
 

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Moreover, upsurge in sales of battery gauges, baby diapers, and toys is bolstering the employment, which along with technological advancements, and varied product applications are stimulating the worldwide thermochromic materials market outlook.
 

On the contrary, strict standards defining chemical formulations, and complications in maintaining the stability of formulation are acting as challenges for the worldwide thermochromic materials business.
 

Based on type, the industry is classified into leuco dyes, and liquid crystals. As per product terrain, the marketplace is divided into irreversible thermochromic materials, and reversible thermochromic materials, wherein the latter segment is slated to gain substantial traction in the forthcoming years.
 

Moving on to application scope, global thermochromic materials market is fragmented into food quality indicators, medical devices, and paints & pigments. The report cites that paints & pigments segment accounted to massive revenues in 2018.
 

Considering regional backdrop, Europe led the worldwide thermochromic materials industry forecast in 2018 and is touted to showcase similar trend in the coming years, on account of extensive product usage for determining packaging quality for frozen food products, in consort with widespread incorporation of smart of packaging.
 

Meanwhile, Asia Pacific industry size is predicted to expand through 2026, creditable to robust product demand from textile and automotive behemoths, alongside rapid industrialization across Japan, China, and India.
 

Well-known players profiled in thermochromic materials market report are Taipei New Prismatic Enterprise Co. Ltd., H.W. Sands Corp., Indestructible Paints Limited, LCR Hallcrest LLC, Kolortek Co. Ltd., Fraunhofer IAP, QCR Solutions Corp., Hali Industrial Co. Ltd., New Color Chemical Co. Ltd., and Shanghai Caison Color Material Chem. Co. Ltd.