Thermochromic Paint Market size to increase by USD 531.44 million from 2023 to 2028 | North America accounts for 38% of the market growth – Technavio

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.

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Thermochromic Paint Market 2024-2028: Key Highlights

Historic Market Size 2018-2022CAGR of the market during 2024-2028Detailed information on factors that will assist thermochromic paint market growth during the next five yearsEstimation of the thermochromic paint market size and its contribution to the parent marketForecasts on upcoming trends and changes in consumer behaviorThe growth of the thermochromic paint marketAnalysis of the competitive landscape and detailed information on companiesComprehensive details of factors that will impede the growth of thermochromic paint market companies

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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.

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SOURCE Technavio