Thermochromic Paints & Coatings Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023

Thermochromic Paints & Coatings Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts up to 2023
Thermochromic paints & coatings are designed in such a way that they change the color at a specific temperature, providing a visual indication of a temperature change. A special type of pigments, known as thermochromic pigments, are available in the market to manufacture thermochromic paints & coatings. In recent years, thermochromic paints & coatings have grown extraordinarily with the global thermochromic market attracting a significant share.
Research Methodology
The thermochromic paints & coatings market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:

Key Market Insights
Thermochromic paints & coatings have created a niche market in various applications. Thermochromic paints & coatings can be used for many different reasons, including safety indicators on thermally sensitive systems or indication of the thermal history. The demand for thermochromic paints & coatings is surging in the food industry. Two main types of thermochromic paints & coatings are available in the market, i.e., reversible-based and irreversible-based.
The extensive use of these products in decorative and food sectors has given a massive boost to the thermochromic paints & coatings market in recent years. The rapid growth in economies across the globe and the increasing per capita income among consumers in developing countries are increasing the demand for decorations. This, in turn, is increasing the demand for thermochromic paints & coatings in infrastructure. The infrastructure sector is presently leading the market and is expected to remain the same during the forecast period. Emerging economies such as China, India, and Brazil are looking forward to take advantage of the benefits of thermochromic paints & coatings. Further, the industrial and FMCG packaging market growth is expected to foster the thermochromic paints & coatings market.
North America is the largest thermochromic paints & coatings market globally due to the presence of export-oriented manufacturing capacities and intense domestic demand from various end-user industries. The increase in food manufacturing and building construction is further driving the market growth in the region. The anticipated economic stability in Europe is expected to boost its manufacturing sector, complementing the growth of the thermochromic paints & coatings market. North America is likely to remain as the key region with a significant contribution coming from the US. Few of the prominent companies operating in the thermochromic paints & coatings market are Sherwin Williams, AkzoNobel N.V., RPM International, Axalta Coating Systems Ltd., and Arkema.
Types:
o Reversible
o Irreversible
End-users:
o Decorative
o Food
o Industrial
o Others
Geography:
o Asia Pacific
o North America
o Europe
o Rest of the World

Table of Contents
1 Report Outline 14
1.1 Introduction 14
1.2 Report Scope 14
1.3 Market Definition 15
1.4 Research Methodology 15
1.4.1 Data Collation & In-house Estimation 15
1.4.2 Market Triangulation 16
1.4.3 Forecasting 17
1.5 Study Declarations 18
1.6 Report Assumptions 18
1.7 Stakeholders 18
2 Executive Summary 19
2.1 Asia Pacific Perceiving Highest Growth Rate 19
2.2 Decorative Segment Will Experience an Acceleration 20
3 Market Positioning 21
3.1 Total Addressable Market: Sealant Market 21
3.1.1 Market Overview 21
3.1.2 Major Trends 22
3.2 Segmented Addressable Market 22
3.3 Related Markets 22
4 Market Outlook 24
4.1 Overview 24
4.2 Value Chain Analysis 25
4.3 PESTLE Analysis 25
4.4 Porter 5 (Five) Forces 27
4.5 Patent Analysis 28
5 Market Characteristics 30
5.1 Market Segmentation 30
5.2 Market Dynamics 31
5.2.1 Drivers 31
5.2.1.1 Increasing demand in FMCG packaging 31
5.2.1.2 Increasing affordability of thermochromic products 32
5.2.2 Restraints 32
5.2.2.1 Raw material price fluctuations 32
5.2.2.2 Low awareness of thermochromic paints & coatings in emerging economies 32
5.2.3 Opportunities 32
5.2.3.1 Technological development in the products 32
5.2.3.2 Large untapped market in developing and underdeveloped countries 33
5.2.4 DRO – Impact Analysis 33
6 By Type: Market Size and Analysis 34
6.1 Overview 34
6.2 Reversible Thermochromic Paints & Coatings 36
6.3 Irreversible Thermochromic Paints & Coatings 38
6.4 Vendor Profiles 40
6.4.1 Sherwin-Williams Co. 40
6.4.2 Akzo Nobel N.V. 46
6.4.3 RPM INTERNATIONAL 51
6.4.4 Axalta Coating Systems Ltd. 58
6.4.5 Arkema 63
(Overview, business units, geographic revenues, product profile, recent developments, business focus, SWOT analysis and business strategies have been covered for all the vendors)
7 Application: Market Size and Analysis 69
7.1 Overview 69
7.2 Decorative 71
7.3 Food 72
7.4 Industrial 74
7.5 Customer Profiles 76
7.5.1 Hammer packaging 76
7.5.2 3M 80
7.5.3 VINCI 84
7.5.4 Bechtel Corporation 88
7.5.5 General Electric (GE) 90
(Overview, business units, geographic revenues, product profile, recent developments, business focus, SWOT analysis and business strategies have been covered for all the customers)
8 Regions: Market Size and Analysis 97
8.1 Overview 97
8.2 Asia Pacific 99
8.3 North America 104
8.4 Europe 109
8.5 Rest of the World 114
(Segmental coverage of by geography, by types, and by end-user have been covered for each region)
9 Companies to watch for 119
9.1 3M company 119
9.1.1 Overview 119
9.2 Clariant 119
9.2.1.1 Business units 119
9.2.2 Creation of New product for Thermochromic Pigment 120
10 Competitive Landscape 121
10.1 Competitor Comparison Analysis 121
10.2 Market Landscape 122
10.2.1 Mergers, Acquisitions, & Joint Ventures 122
10.2.2 Awards & Recognizing 123
10.2.3 Exhibition & Product Launch 124
10.2.4 Expansion 125
10.2.5 Others 125
11 Expert’s Views 126
12 Annexure 127
Abbreviations 127
 

Tables

TABLE 1 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET REVENUE BY TYPE, 2016-2023 ($MILLION) 34
TABLE 2 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME BY TYPE, 2016-2023 (TONS) 35
TABLE 3 GLOBAL REVERSIBLE THERMOCHROMIC PAINTS & COATINGS MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION) 36
TABLE 4 GLOBAL ACRYLIC THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY GEOGRAPHY, 2016-2023 (TONS) 37
TABLE 5 GLOBAL IRREVERSIBLE THERMOCHROMIC PAINTS & COATINGS MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION) 38
TABLE 6 GLOBAL IRREVERSIBLE THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY GEOGRAPHY, 2016-2023 (TONS) 39
TABLE 7 SHERWIN-WILLIAMS CO.: PRODUCT PROFILE 42
TABLE 8 SHERWIN-WILLIAMS CO.: RECENT DEVELOPMENTS 43
TABLE 9 AKZO NOBEL N.V.: PRODUCT PROFILE 48
TABLE 10 AKZO NOBEL N.V.: RECENT DEVELOPMENTS 48
TABLE 11 RPM INTERNATIONAL: PRODUCT PROFILE 54
TABLE 12 RPM INTERNATIONAL: RECENT DEVELOPMENTS 55
TABLE 13 AXALTA COATING SYSTEMS: PRODUCT PROFILE 60
TABLE 14 AXALTA COATING SYSTEMS: RECENT DEVELOPMENTS 60
TABLE 15 ARKEMA: PRODUCT PROFILE 66
TABLE 16 ARKEMA: RECENT DEVELOPMENTS 66
TABLE 17 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET REVENUE BY APPLICATION, 2016-2023 ($MILLION) 69
TABLE 18 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME BY APPLICATION, 2016-2023 (TONS) 70
TABLE 19 GLOBAL THERMOCHROMIC PAINTS & COATINGS IN DECORATIVE MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION) 71
TABLE 20 GLOBAL THERMOCHROMIC PAINTS & COATINGS IN DECORATIVE MARKET VOLUME, BY GEOGRAPHY, 2016-2023 (TONS) 72
TABLE 21 GLOBAL THERMOCHROMIC PAINTS & COATINGS IN FOOD MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION) 72
TABLE 22 GLOBAL THERMOCHROMIC PAINTS & COATINGS IN FOOD MARKET VOLUME, BY GEOGRAPHY, 2016-2023 (TONS) 73
TABLE 23 GLOBAL THERMOCHROMIC PAINTS & COATINGS IN INDUSTRIAL MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION) 74
TABLE 24 GLOBAL THERMOCHROMIC PAINTS & COATINGS IN INDUSTRIAL MARKET VOLUME, BY GEOGRAPHY, 2016-2023 (TONS) 75
TABLE 25 HAMMER PACKAGING: PRODUCT PROFILE 77
TABLE 26 HAMMER PACKAGING: RECENT DEVELOPMENTS 77
TABLE 27 3M: RECENT DEVELOPMENTS 82
TABLE 28 BETCHEL CORPORATION: PRODUCT PROFILE 89
TABLE 29 GENERAL ELECTRIC: BUSINESS ACTIVITIES 94
TABLE 30 GE: RECENT DEVELOPMENTS 95
TABLE 31 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY GEOGRAPHY, 2016−2023 ($MILLION) 97
TABLE 32 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY GEOGRAPHY, 2016−2023 (TONS) 98
TABLE 33 ASIA PACIFIC THERMOCHROMIC PAINTS & COATINGS VALUE, BY COUNTRY, 2016−2023 ($MILLION) 99
TABLE 34 ASIA PACIFIC THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY COUNTRY, 2015−2022 (TONS) 100
TABLE 35 ASIA PACIFIC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2016−2023 ($MILLION) 101
TABLE 36 ASIA PACIFIC THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY TYPE, 2016−2023 (TONS) 101
TABLE 37 ASIA PACIFIC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY APPLICATION, 2016−2023 ($MILLION) 102
TABLE 38 ASIA PACIFIC THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY APPLICATION, 2016−2023 (TONS) 103
TABLE 39 NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2016−2023 ($MILLION) 104
TABLE 40 NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY COUNTRY, 2016−2023 (TONS) 105
TABLE 41 NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2016−2023 ($MILLION) 106
TABLE 42 NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY TYPE, 2016−2023 (TONS) 106
TABLE 43 NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY APPLICATION, 2016−2023 ($MILLION) 107
TABLE 44 NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY APPLICATION, 2016−2023 (TONS) 107
TABLE 45 EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2016−2023 ($MILLION) 109
TABLE 46 EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY COUNTRY, 2015−2022 110
TABLE 47 EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2016−2023 ($MILLION) 111
TABLE 48 EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY TYPE, 2016−2023 (TONS) 111
TABLE 49 EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY APPLICATION, 2016−2023 ($MILLION) 112
TABLE 50 EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY END USER, 2016−2023 (TONS) 113
TABLE 51 REST OF THE WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY GEOGRAPHY, 2016−2023 ($MILLION) 114
TABLE 52 REST OF THE WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY GEOGRAPHY, 2016−2023 (TONS) 115
TABLE 53 REST OF THE WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2016−2023 ($MILLION) 116
TABLE 54 REST OF THE WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY TYPE, 2016−2023 (TONS) 116
TABLE 55 REST OF THE WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY APPLICATION, 2016−2023 ($MILLION) 117
TABLE 56 REST OF THE WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VOLUME, BY APPLICATION, 2016−2023 (TONS) 117
TABLE 57 CLARIANT: PRODUCT PROFILE 119
TABLE 58 MERGERS, ACQUISITIONS, & JOINT VENTURES 122
TABLE 59 AWARD & RECOGNIZING 123
TABLE 60 EXHIBITION & PRODUCT LAUNCH 124
TABLE 61 EXPANSION 125
TABLE 62 OTHERS 125

Charts

CHART 1 RESEARCH METHODOLOGY OF GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET: DATA COLLATION 14
CHART 2 RESEARCH METHODOLOGY OF GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET: TRIANGULATION 15
CHART 3 RESEARCH METHODOLOGY OF GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET: FORECASTING 16
CHART 4 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET: REGIONAL ANALYSIS (2017 & 2023) 18
CHART 5 GLOBAL THERMOCHROMIC PAINTS & COATINGS APPLICATION MARKET 2017 & 2023 19
CHART 6 TOTAL ADDRESSABLE MARKET (TAM): THERMOCHROMIC PIGMENT 20
CHART 7 VALUE CHAIN: THERMOCHROMIC PAINTS & COATINGS MARKET 24
CHART 8 PESTLE ANALYSIS: THERMOCHROMIC PAINTS & COATINGS MARKET 24
CHART 9 PORTER 5 FORCES ANALYSIS: THERMOCHROMIC PAINTS & COATINGS MARKET 26
CHART 10 THERMOCHROMIC PAINTS & COATINGS: PATENT ANALYSIS (2012–2017*) 27
CHART 11 THERMOCHROMIC PAINTS & COATINGS: PATENT ANALYSIS, BY REGION (2012–2017) 27
CHART 12 MARKET SEGMENTATION: THERMOCHROMIC PAINTS & COATINGS 29
CHART 13 MARKET DYNAMICS – DRIVERS, RESTRAINTS, AND OPPORTUNITIES 30
CHART 14 DRO - IMPACT ANALYSIS: THERMOCHROMIC PAINTS & COATINGS MARKET 32
CHART 15 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET REVENUE BY TYPE, 2016-2023 ($MILLION) 33
CHART 16 GLOBAL REVERSIBLE THERMOCHROMIC PAINTS & COATINGS MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION) 35
CHART 17 GLOBAL IRREVERSIBLE THERMOCHROMIC PAINTS & COATINGS MARKET REVENUE BY TYPE, 2016-2023 ($MILLION) 37
CHART 18 SHERWIN-WILLIAMS CO.: OVERVIEW SNAPSHOT 39
CHART 19 SHERWIN-WILLIAMS CO.: BUSINESS UNITS 40
CHART 20 SHERWIN-WILLIAMS CO.: SWOT ANALYSIS 42
CHART 21 AKZO NOBEL N.V.: OVERVIEW SNAPSHOT 45
CHART 22 AKZO NOBEL N.V.: BUSINESS UNITS 46
CHART 23 AKZO NOBEL N.V.: GEOGRAPHIC REVENUE 46
CHART 24 AKZO NOBEL N.V.: SWOT ANALYSIS 48
CHART 25 RPM INTERNATIONAL: OVERVIEW SNAPSHOT 50
CHART 26 RPM INTERNATIONAL: BUSINESS UNITS 51
CHART 27 RPM INTERNATIONAL: GEOGRAPHIC REVENUE 52
CHART 28 RPM INTERNATIONAL: SWOT ANALYSIS 54
CHART 29 AXALTA COATING SYSTEMS: OVERVIEW SNAPSHOT 57
CHART 30 AXALTA COATING SYSTEMS: BUSINESS UNITS 58
CHART 31 AXALTA COATING SYSTEMS: GEOGRAPHIC REVENUE 58
CHART 32 AXALTA COATING SYSTEMS: SWOT ANALYSIS 60
CHART 33 ARKEMA: OVERVIEW SNAPSHOT 62
CHART 34 ARKEMA: BUSINESS UNITS 62
CHART 35 ARKEMA: GEOGRAPHIC REVENUE 63
CHART 36 ARKEMA: SWOT ANALYSIS 66
CHART 37 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET REVENUE BY APPLICATION, 2016-2023 ($MILLION) 68
CHART 38 GLOBAL THERMOCHROMIC PAINTS & COATINGS IN DECORATIVE MARKET REVENUE BY APPLICATION, 2016-2023 ($MILLION) 70
CHART 39 GLOBAL THERMOCHROMIC PAINTS & COATINGS IN FOOD MARKET REVENUE BY APPLICATION, 2016-2023 ($MILLION) 71
CHART 40 GLOBAL THERMOCHROMIC PAINTS & COATINGS IN ELECTRONIC EQUIPMENT MARKET REVENUE, BY GEOGRAPHY, 2016-2023 ($MILLION) 73
CHART 41 HAMMER PACKAGING: OVERVIEW SNAPSHOT 75
CHART 42 HAMMER PACKAGING: SWOT ANALYSIS 77
CHART 43 3M: OVERVIEW SNAPSHOT 79
CHART 44 3M: BUSINESS UNITS 79
CHART 45 3M: GEOGRAPHIC REVENUE 80
CHART 46 3M: SWOT ANALYSIS 82
CHART 47 VINCI: OVERVIEW SNAPSHOT 83
CHART 48 VINCI: BUSINESS UNITS 84
CHART 49 VINCI: GEOGRAPHIC REVENUE 85
CHART 50 VINCI: SWOT ANALYSIS 86
CHART 51 BETCHEL CORPORATION: OVERVIEW SNAPSHOT 87
CHART 52 BETCHEL CORPORATION: SWOT ANALYSIS 88
CHART 53 GENERAL ELECTRIC (GE): OVERVIEW SNAPSHOT 89
CHART 54 GENERAL ELECTRIC (GE): BUSINESS UNITS 90
CHART 55 GENERAL ELECTRIC (GE): GEOGRAPHIC REVENUE 92
CHART 56 GENERAL ELECTRIC (GE): SWOT ANALYSIS 94
CHART 57 GLOBAL THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY GEOGRAPHY, 2016−2023 ($MILLION) 96
CHART 58 ASIA PACIFIC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2016−2023 ($MILLION) 98
CHART 59 ASIA PACIFIC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2016−2023 ($MILLION) 99
CHART 60 ASIA PACIFIC THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY APPLICATION, 2016−2023 ($MILLION) 101
CHART 61 NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2016−2023 ($MILLION) 103
CHART 62 NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2016−2023 ($MILLION) 104
CHART 63 NORTH AMERICA THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END USER, 2016−2023 ($MILLION) 106
CHART 64 EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY COUNTRY, 2016−2023 ($MILLION) 108
CHART 65 EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2016−2023 ($MILLION) 109
CHART 66 EUROPE THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY END USER, 2016−2023 ($MILLION) 111
CHART 67 REST OF THE WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY GEOGRAPHY, 2016−2023 ($MILLION) 113
CHART 68 REST OF THE WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY TYPE, 2016−2023 ($MILLION) 114
CHART 69 REST OF THE WORLD THERMOCHROMIC PAINTS & COATINGS MARKET VALUE, BY APPLICATION, 2016−2023 ($MILLION) 116
CHART 70 3M: BUSINESS UNITS 119
CHART 71 COMPETITIVE LANDSCAPE: GEOGRAPHIC EXPOSURE 120
CHART 72 MARKET LANDSCAPE: MARKET ACTIVITIES 121


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