Thermochromic Materials Market - Forecast(2021 - 2026)
Thermochromic materials market size is forecast to reach $2.5 billion by 2026 , after growing at a CAGR of 8.6% during 2021-2026. Thermochromic materials are generally organic leuco dye mixtures, which change reversibly their color by a temperature change. A change in the crystalline phase and structure is responsible for the color transition. The market growth is expected to be driven by the rise in the use of thermochromic materials in various applications, such as safety inks, thermometers, OLED screens, and body armors. Further, the application of thermochromic materials as an indicator to determine the quality of the frozen meat and dairy products, is anticipated to fuel the demand. However, thermochromic inks are considered as costly as the production of thermochromic materials involves the use of highly specialized and complex manufacturing process than conventional inks, which is projected to be a significant challenge for the thermochromic materi...