NEW YORK, Oct. 26, 2016 /PRNewswire/ -- The global
temperature sensitive coating market value is expected to reach
USD 362.8 million by 2024, according
to a new report by Grand View Research, Inc. Growing applications
scope in traffic road marking and the automotive industry is
expected to drive product demand over the forecast period.
Temperature sensitive coating has been widely used in thermometer
labels including fridge, nursery, forehead and aquarium
thermometers.
Rising product demand in the household sector, particularly in
economies such as Brazil,
India, China and Vietnam owing to growing consumer disposable
income, is expected to drive the market growth over the next eight
years.
Reversible temperature sensitive coating dominated the global
demand and accounted for over 65% of total volume in 2015. This
trend is anticipated to continue over the forecast period on
account of rising demand from the various application such as
textiles, room & refrigeration thermometers, food quality
indicators, promotional items, forehead thermometers, temperature
sensitive plastics & mugs, and toys.
Further key findings from the report suggest:
The global temperature sensitive coating market demand exceeded
1,200 tons in 2015 and is expected to reach 2,276.5 tons by 2024,
growing at a CAGR of 6.6% from 2016 to 2024
Household/decorative was the leading application segment and
accounted for 35.2% of total market volume in 2015. This high
penetration can be attributed to the rising demand for industrial
and pharmaceutical applications particularly in emerging economies
of India, China, and Brazil.
Industrial applications are expected to witness the highest growth
of 7.0% from 2016 to 2024.Rising product demand in various
industrial applications such as annealing, metalworking, riveting,
and welding for quality purposes is anticipated to increase market
penetration in this segment.
Europe was the leading temperature
sensitive coating consumer and accounted for 37.9% total global
demand in 2015.Favorable government regulations mandating the use
of temperature sensitive labels in the pharmaceutical sector has
contributed towards regional dominance.
Major companies operating in the global temperature sensitive
coating industry include CAPCO, LCR Hallcrest, LA-CO Industries,
TIP Temperature Products, B&H Colour Change, SFXC, Good Life
Innovations, Ltd. and Lakfbriek Korthals BV. The industry is highly
competitive on the basis of product prices.
Read the full report:
http://www.reportlinker.com/p03937897-summary/view-report.html
About Reportlinker
ReportLinker is an award-winning market research solution.
Reportlinker finds and organizes the latest industry data so you
get all the market research you need - instantly, in one
place.
http://www.reportlinker.com
__________________________
Contact Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/temperature-sensitive-coating-market-analysis-by-product-reversible-irreversible-by-application-healthcarepharmaceuticals-foodbeverage-householddecorative-industrial-and-segment-forecasts-to-2024-300352134.html
SOURCE Reportlinker