Thermochromic Material Market
Research Report - Global Forecast till
According to the MRFR analysis, the global thermochromic material market was valued at more than
USD 1.2 billion in 2018 and is expected to reach over USD 2.2 Billion by the end of 2025 at a
CAGR of 8.9%.
Thermochromic materials are mainly used as temperature indicators in the industrial sector to
determine the temperature variation and reaction heat in the system. Thermochromic materials
change reversibly their color by a temperature change. The global thermochromic materials market is
segmented based on type, material, and end-use industry.
Reversible: Reversible (those whose color reverts after the removal of heat and stress on
them) segment accounted for more than 65% market share in 2018. Reversible
thermochromic materials find applicability in many diverse fields such as packaging, textiles,
and novelty items such as mood rings.
Irreversible: Irreversible (those whose color changes permanently at the application of stress
and heat) thermochromic materials find application in critical processes, such as the
machinery within industries as well as to indicate infringement upon branded items and to
test the authenticity of banknotes as well as signify the expiration of medicines and certain
Leuco dye is the largest market within the material segment largely due to its insolubility in
water. The segment accounted for more than 30% market share in 2018. Leuco dye is
applied extensively in imbuing textiles with thermochromic properties with practical uses,
such as in tablecloths to effectively gauge heat, as well as novelty purposes.
Thermochromic pigments are used to imbue paints and other coatings with thermochromic
properties and they are used in traffic signs, path markings, and control panels.
Liquid crystals with thermochromic properties are used to gauge stress and map heat in
machinery as well as for colored displays.
Other segment inc