Thermochromic Material Market Share | Size, Industry Growth, Competitive Analysis, Future Prospects and Forecast
Market Forecast According to the MRFR analysis, the global Thermochromic Material Market Share was valued at more than USD 1.2 billion in 2018 and is expected to reach over USD 2.2 Billion by the end of 2025 at a CAGR of 8.9%. Thermochromic materials are mainly used as temperature indicators in the industrial sector to determine the temperature variation and reaction heat in the system. Thermochromic materials change reversibly their color by a temperature change. The global thermochromic materials market is segmented based on type, material, and end-use industry. Segmentation By Type Reversible: Reversible (those whose color reverts after the removal of heat and stress on them) segment accounted for more than 65% market share in 2018. Reversible thermochromic materials find applicability in many diverse fields such as packaging, textiles, and novelty items such as mood rings. Irreversible: Irreversible (those whose color changes perman