Rise in prevalence of innovative products and surge in demand for wax additives and defoamers drive the growth of the global thermochromic pigments market. North America contributed the highest share in 2019, and will maintain its dominance throughout the forecast period. Several major thermochromic pigments manufacturers have stopped their production activities during the Covid-19 pandemic due to shortage of raw material supply amid lockdown.
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The thermochromic pigments market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the thermochromic pigments market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the thermochromic pigments market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
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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.
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.
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Leading market players analyzed in the research include QCR Solutions Corp, OliKrom, Devine Chemicals Ltd., Matsui Color, CTI and Flint Group, New Color Chemical Limited, Hali Industrial Co., Ltd., LCR Hallcrest, Smarol Industry Co. Ltd., and Kolortek.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the thermochromic pigments market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the thermochromic pigments market
- Post-sales support and free customization
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