Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is estimated to continue its dominant share by 2030. However, both Europe and Asia-Pacific Thermochromic material market is projected to manifest the fastest CAGR of 3.5% during the forecast period. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Global thermochromic material market generated $1.0 billion in 2020, and is projected to reach $1.3 billion by 2030, witnessing a CAGR of 3.4% from 2021 to 2030, According to the report published by Allied Market Research. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

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Surge in preference for colored materials among consumers and use of printing inks containing metallic pigments in the flexible packaging industry drive the growth of the global thermochromic material market. On the other hand, excellent color strength and vibrant durable colors present new opportunities in the upcoming years.

Based on type, both the reversible and irreversible segment held the equal market share in 2020, holding more than half of the global thermochromic material market. However, the irreversible segment is expected to continue its leadership status during the forecast period. Moreover, the irreversible segment is also projected to register the highest CAGR of 3.4% from 2021 to 2030.

By End-Use Industry

Based on end use, the leuco dyes segment held the highest market share in 2020, holding nearly two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the others segment is estimated to register the highest CAGR of 4.0% from 2021 to 2030.

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Leading players of the global thermochromic material market analyzed in the research include OliKrom (France), LCR Hallcrest (U.S.), Chromatic Technologies (CTI) (US), Matsui International Company (U.S.), New Prisematic Enterprise (Taiwan), Smarol Industry (China), GEMINNOV (France), Hali Industrial (China), Kolorjet (India), and Kolortek (China).

COVID-19 scenario:

• The outbreak of the COVID-19 pandemic has had a mixed impact on the global thermochromic material market.
• The pandemic led to a global lockdown and temporary closure to the production of major industries such as pulp & paper, textile, printing & coating, and others across the world, which, in turn, affected the growth of the global thermochromic material market.
• On the other hand, the pharmaceutical and healthcare industry witnessed a significant growth, which led to increasing demand for thermochromic material across the globe.
• In addition, online shopping increased the demand for packaging & printing during the pandemic, thereby, fueling the thermochromic material market globally

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Highlights of the Report – Competitive landscape of the thermochromic material market. – Revenue generated by each segment of the thermochromic material market by 2030. – Factors expected to drive and create new opportunities in the industry. – Strategies to gain sustainable growth of the market. – Region that would create lucrative business opportunities during the forecast period. – Top impacting factors of the thermochromic material market.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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