Thermochromic Pigments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Thermochromic Pigments Market is segmented by Type (Reversible and Irreversible), Application (Plastics and Polymers, Paints and Coatings, Fabrics, Inks, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

Thermochromic Pigments Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Thermochromic Pigments Market Size

Thermochromic market Overview
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
CAGR 8.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

Thermochromic market Key Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Thermochromic Pigments Market with other markets in Chemicals & Materials Industry

Plastics, Polymers, and Elastomers

Adhesives and Sealants

Commodity Chemicals

Water and Wastewater Treatment

Advanced Materials

Construction Chemicals and Materials

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Thermochromic Pigments Market Analysis

The Thermochromic Pigments Market is expected to register a CAGR of greater than 8% during the forecast period.

The market was negatively impacted due to COVID-19. Owing to the pandemic scenario, several countries around the world went into lockdown, which halted all the manufacturing and construction activities, thus, creating a negative impact on various industries such as paints and coatings, plastics and polymers, and others. However, the condition is expected to recover in 2021, thereby restoring the growth trajectory of the market studied.

  • Over the medium term, increasing demand for smart packaging and rising demand from the smart textiles industry are driving the market's growth.
  • On the flip side, the high cost of thermochromic inks and the negative impact of the COVID-19 pandemic are expected to hinder the market.
  • The addition of stabilizers to reduce sensitivity to UV radiation is expected to provide future growth opportunities to the market.
  • Asia-Pacific dominated the market across the world, with the largest consumption in countries such as China, India, etc.

Thermochromic Pigments Industry Overview

The thermochromic pigments market is fragmented in nature. Some of the key players in the market include LCR Hallcrest LLC, Hali Pigment Co. Ltd, SMAROL INDUSTRY CO. LTD, SFXC, and OliKrom, among others.

Thermochromic Pigments Market Leaders

  1. LCR Hallcrest LLC

  2. Hali Pigment co.,ltd

  3. SFXC

  4. SMAROL INDUSTRY CO.,LTD.

  5. OliKrom

  6. *Disclaimer: Major Players sorted in no particular order
Gem'Innov, Hali Pigment Co. Ltd,  L’Arca SRL, LCR Hallcrest LLC,  Matsui International Inc., N.C.C.-New Color Chemical Co. Ltd, OliKrom, QCR Solutions Corp.,  SFXC, SMAROL INDUSTRY CO. LTD
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Thermochromic Pigments Market News

  • In June 2018, Olikrom raised EUR 4.5 million to industrialize its smart pigments.

Thermochromic Pigments Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Increasing Demand for Smart Packaging
    • 4.1.2 Rising Demand from the Smart Textiles Industry
  • 4.2 Restraints
    • 4.2.1 High Cost of Thermochromic Inks
    • 4.2.2 Negative Impact of the COVID-19 Pandemic
  • 4.3 Industry Value Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Buyers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION

  • 5.1 Type
    • 5.1.1 Reversible
    • 5.1.2 Irreversible
  • 5.2 Application
    • 5.2.1 Plastics and Polymers
    • 5.2.2 Paints and Coatings
    • 5.2.3 Fabrics
    • 5.2.4 Inks
    • 5.2.5 Other Applications
  • 5.3 Geography
    • 5.3.1 Asia-Pacific
    • 5.3.1.1 China
    • 5.3.1.2 India
    • 5.3.1.3 Japan
    • 5.3.1.4 South Korea
    • 5.3.1.5 Rest of Asia-Pacific
    • 5.3.2 North America
    • 5.3.2.1 United States
    • 5.3.2.2 Canada
    • 5.3.2.3 Mexico
    • 5.3.3 Europe
    • 5.3.3.1 Germany
    • 5.3.3.2 United Kingdom
    • 5.3.3.3 Italy
    • 5.3.3.4 France
    • 5.3.3.5 Rest of Europe
    • 5.3.4 South America
    • 5.3.4.1 Brazil
    • 5.3.4.2 Argentina
    • 5.3.4.3 Rest of South America
    • 5.3.5 Middle-East and Africa
    • 5.3.5.1 Saudi Arabia
    • 5.3.5.2 South Africa
    • 5.3.5.3 Rest of Middle-East and Africa

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share Analysis**/Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 Gem'Innov
    • 6.4.2 Hali Pigment Co. Ltd
    • 6.4.3 L'Arca SRL
    • 6.4.4 LCR Hallcrest LLC
    • 6.4.5 Matsui International Inc.
    • 6.4.6 N.C.C.-New Color Chemical Co. Ltd
    • 6.4.7 OliKrom
    • 6.4.8 QCR Solutions Corp.
    • 6.4.9 SFXC
    • 6.4.10 SMAROL INDUSTRY CO. LTD
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Addition of Stabilizers to Reduce Sensitivity to UV Radiation
**Subject to Availability
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Thermochromic Pigments Industry Segmentation

The thermochromic pigments market is segmented by type, application, and geography. By type, the market is segmented by reversible and irreversible. By application, the market is segmented by plastics and polymers, paints and coatings, fabrics, inks, and other applications. The report also offers market size and forecasts for 15 countries across major regions. For each segment, market sizing and forecast have been done on the basis of revenue (USD million).

Type Reversible
Irreversible
Application Plastics and Polymers
Paints and Coatings
Fabrics
Inks
Other Applications
Geography Asia-Pacific China
India
Japan
South Korea
Rest of Asia-Pacific
North America United States
Canada
Mexico
Europe Germany
United Kingdom
Italy
France
Rest of Europe
South America Brazil
Argentina
Rest of South America
Middle-East and Africa Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Thermochromic Pigments Market Research FAQs

What is the current Thermochromic Pigments Market size?

The Thermochromic Pigments Market is projected to register a CAGR of greater than 8% during the forecast period (2025-2030)

Who are the key players in Thermochromic Pigments Market?

LCR Hallcrest LLC, Hali Pigment co.,ltd, SFXC, SMAROL INDUSTRY CO.,LTD. and OliKrom are the major companies operating in the Thermochromic Pigments Market.

Which is the fastest growing region in Thermochromic Pigments Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Thermochromic Pigments Market?

In 2025, the Asia Pacific accounts for the largest market share in Thermochromic Pigments Market.

What years does this Thermochromic Pigments Market cover?

The report covers the Thermochromic Pigments Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Thermochromic Pigments Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Thermochromic Pigments Industry Report

Statistics for the 2025 Thermochromic Pigments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Thermochromic Pigments analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.