The printing ink segment accounted for more than one-fourth of the global thermochromic pigments market revenue in 2019, and is anticipated to lead the trail from 2020 to 2027. Rise in prevalence of innovative products and growing inclination toward colorful stuffs among the consumers are expected to foster the segment growth. Simultaneously, the plastic & polymer segment would manifest the fastest CAGR of 6.7% till 2027. Rise in polymer production activities across the globe is increasing the demand for thermochromic pigments which, in turn, augments the growth of the segment.
The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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Increase in preference for colored materials among consumers drives the growth of the global thermochromic pigments market. Moreover, use of printing inks containing metallic pigments has risen in the flexible packaging industry which, in turn, has supplemented the growth yet more. Simultaneously, the fact that these pigments provide excellent color strength and vibrant durable colors is expected to create lucrative opportunities for the key players in the industry.
This makes it important to understand the practical implications of the thermochromic pigments market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
According to the report, the global thermochromic pigments industry was estimated at $428.3 million in 2019, and is anticipated to hit $595.0 million by 2027, registering a CAGR of 6.2% from 2020 to 2027.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players OliKrom, QCR Solutions Corp, Matsui Color, Devine Chemicals Ltd, New Color Chemical Limited, CTI and Flint Group, LCR Hallcrest, Hali Industrial co., ltd, KOLORTEK, SMAROL INDUSTRY CO. LTD. which gives the business overview, financial analysis, and portfolio analysis of products and services. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
North America garnered the largest share in 2019, holding more than one-third of the global thermochromic pigments market. The US has built an advantage of having a sizeable ink printing market, thus providing the maximum contribution in the global market. The region across Asia-Pacific, on the other hand, would portray the fastest CAGR of 6.5% by 2027, owing to growing industrialization and increasing per capita income of people across the province.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the thermochromic pigments market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
The reversible segment contributed to more than three-fifths of the global thermochromic pigments market share in 2019, and is expected to rule the roost by the end of 2027, owing to their reversible color changing property. At the same time, the irreversible segment would register the fastest CAGR of 6.3% throughout the forecast period. This is due to the fact that irreversible thermochromic pigment has relatively lower cost in comparison to reversible thermochromic pigment.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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