NEW YORK, Dec. 18, 2023 /PRNewswire/ — The thermochromic paint market is expected to grow by USD 531.44 million from 2023 to 2028. In addition, the growth momentum of the market will progress at a CAGR of 5.47% during the forecast period, according to Technavio. Increasing use in the food and beverage industry is notably driving the thermochromic paint market. However, factors such as volatility in raw material prices of thermochromic paint may impede the market growth. The market is segmented by application (automotive, building and construction, textile, packaging, and others), type (irreversible and reversible), and geography (North America, APAC, Europe, Middle East and Africa, and South America). We provide a detailed analysis of 20 companies operating in the thermochromic paint market including Axalta Coating Systems Ltd., BASF SE, Chromatic Technologies Inc., CROMAS Srl, Flint Group, FX Pigments Pvt. Ltd., Geminnov, Hali Pigment 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..The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a free sample Report.
Thermochromic Paint Market 2024-2028: Company Analysis
Axalta Coating Systems Ltd: The company offers thermochromic paint under the liquid coatings and powder coatings categories.
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Thermochromic Paint Market 2024-2028: Segmentation
Application
- The market share growth by the automotive segment is significant during the forecast period. The application of thermochromic paint in automobiles modifies its color according to the temperature. In addition, when the vehicles are on the road, the ice reduces the degree of maneuverability and control of the drivers and the vehicles. Thus the thermochromic paintings are able to detect the presence of ice without the need for separate sensors or energy supply systems. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period
Geography
- North America accounts for 38% of the market growth during the forecast period. Some of the major factors that are fuelling the growth of the market in North America include the strict government regulations concerning industrial safety and flourishing manufacturing hubs. Furthermore, other factors including the developments in printing and coating applications, packaging applications, and the medical manufacturing industry in major countries such as the US and Canada are driving the market growth in North America during the forecast period.
Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View Free PDF Sample Report
Thermochromic Paint Market 2024-2028: Key Highlights
- Historic Market Size 2018-2022
- CAGR of the market during 2024-2028
- 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
- Forecasts on upcoming trends and changes in consumer behavior
- The growth of the thermochromic paint market
- Analysis of the competitive landscape and detailed information on companies
- Comprehensive details of factors that will impede the growth of thermochromic paint market companies
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Thermochromic Paint Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.47% |
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Market Growth 2024-2028 |
USD 531.44 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
4.96 |
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Regional analysis |
North America, APAC, Europe, Middle East and Africa, and South America |
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Performing market contribution |
North America at 38% |
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Key countries |
US, China, India, Germany, and France |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Axalta Coating Systems Ltd., BASF SE, Chromatic Technologies Inc., CROMAS Srl, Flint Group, FX Pigments Pvt. Ltd., Geminnov, Hali Pigment 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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Application
Market Segmentation by Type
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com
SOURCE Technavio
