Thermochromic materials are materials which can change its original color when exposed to temperature. These type of materials are used in various temperature sensing or indicating applications such as in baby spoons, decorative items, packaging for food & beverages, labelling, in textile as aesthetic appearances and other consumer goods. Thermo chromic materials are majorly comes under two types: Reversible and Irreversible.
The Thermochromic Materials Market is projected to grow from USD 1.3 billion in 2019 to USD 2.1 billion by 2024, at a CAGR of 9.5%. The high growth of niche applications consuming thermochromic materials across the world, coupled with efficient and superior properties of thermochromic materials, is driving the market.
