Thermochromic materials are used in several temperature sensing or indicating applications, such as baby bottles and spoons, labeling, textiles, and food and beverages packaging. They can also be used as flexible sensors in applications such as security or camouflage. Ease of access, cost effectiveness, color diversity, and convenience offered by these materials are expected to keep their demand high in future.
Key Properties of Thermochromic Materials
Thermochromism is the property of certain materials to change color with a change in temperature. Thermochromic materials can be made up of metal compounds or liquid crystals. They can be reversible or irreversible. Demand for irreversible thermochromic materials is likely to remain strong in the coming years. They are extensively used in production of novelty products and textiles. Demand for reversible thermochromic materials is experiencing a sharp rise as they can be used multiple times due to their reversible characteristics.
Beverage Can Manufacturers Incorporate Thermochromic Inks into their Offerings
Thermochromic inks are being increasingly used in the beverages sector. Drink manufacturers are using these inks to indicate when a beverage is at its ideal temperature for consumption. For instance, at the Tomorrowland Music Festival held in July 2017 in Belgium, Crown Holdings partnered with Lipton to create ice tea mojito cans that changed to blue when cooled. Similarly, in May 2017, Molson Coors launched a Coors light can that changes color when exposed to sunlight. When brought into light, the cool blues turn vibrant oranges, reds, and golds.
Market Insights
As per the findings of Grand View Research Inc., the global thermochromic materials market is projected to rise to a valuation of USD 7.31 billion by the end of 2025. Spiraling demand for innovative products with color-changing abilities for functional or entertainment applications is likely to provide a fillip to the market. Soaring demand for thermochromic materials in the food and beverages industry to determine quality of dairy products and frozen meat is expected to augment the market. Furthermore, growing adoption of thermochromic pigments in paints, inks, and coatings can drive the market.
On the other hand, the chemical formulation of thermochromic materials is complex, which can negatively impact market growth. This can be further compounded by difficulty in maintaining formulation stability of reversible materials. Nevertheless, extensive research and development activities are anticipated to pave the way for stable reversible materials. The market is characterized by the presence of a limited number of key players, such as LCR Hallcrest and Olikrom.
In-Depth research report on Thermochromic Materials:
http://www.grandviewresearch.com/industry-analysis/thermochromic-materials-market
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