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Leuco Dye Market Size 2022: Industry Overview, Key Technology, Segments, Top Leading Players, Emerging Trends and Forecast to 2030

The global leuco dye market held a market value of USD 311.8 Million in 2022 and is estimated to reach USD 522.3 Million by the year 2030. The market is anticipated to register a CAGR of 6.7% during the forecast period.

Leuco dye is a dye that can switch between 2 chemical forms. One of these chemical forms is colorless. These dyes are colored at cool temperatures. However, as the heat rises, they become translucent and hence can reveal any words, colors, or patterns, which might be printed on an underlying layer of ink.

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The market is anticipated to grow owing to factors such as increasing adoption of leuco dye-based thermochromic inks and growing demand for leuco dye in smart packaging applications. However, the high cost of leucodye and the presence of cheaper alternatives are expected to hinder market growth.

Growth Influencers:

Increasing adoption of leuco dye-based thermochromic inks

Leuco dye-based thermochromic inks are dynamic inks which can change color when exposed to various temperatures. They are being used as smart materials in the fashion designing and textile industry. They are also been used to create fabric displays for new forms of expression and communication, such as the “Ambikraft” and “Reach” projects. They were combined with technology to study the relationship between human behavior and the surrounding environments. Furthermore, the application of these inks in mood rings, thermometers, drink containers, battery indicators, toys, and plastic products, among others, is also expected to boost market growth.

Increasing demand for leuco dye in smart packaging applications

Leuco dyes are used for smart packaging as temperature-sensitive indicators. They can be used as microwave temperature indicators on food packaging. They are also used as battery status indicators. For instance, leuco dyes are used in the Duracell indicators as resistive strips representing the heating temperature of a strip, related to the battery’s current delivery. Furthermore, leuco dyes are coated on the thermochromic tapes used for packaging a variety of shipments. These tapes are then used to identify package tampering, verify the cold temperature, prevent counterfeiting, boost popularity, improve buyer & branding experience, and improve food packaging safety. All these applications are increasing the demand for leuco dyes in smart packaging, hence boosting the market growth.

Segments Overview:

The global leuco dye market is segmented into type, color, and application.

By Type
• Touch Activated
• Cold Activated

The touch-activated segment accounts for the largest share. The touch-activated dye turns clear when touched. These leuco dyes vanish when touched or rubbed to reveal an image or another color printed or painted beneath. The cold-activated segment is expected to grow at the fastest growth rate of 7% during the forecast period due to its high demand.

By Color
• Black
• Blue
• Others

The black segment accounted for the largest market share of more than 45% owing to its high adoption in various industries, such as packaging and product labeling, among others. On the other hand, the blue color segment is anticipated to grow at the fastest growth rate. Other colors include red and mixed, among others.

By Application
• Hair Color
• Thermal Paper
• Carbonless Paper
• PH Indicator
• Promotional Application
• Product Labelling
• Game Pieces
• Packaging
• Security Printing
• Battery Testers
• Others (Flat Thermometer, Thermochromic Ink, etc.)

The thermal paper segment is expected to hold the largest market share owing to the increasing adoption of leuco dyes in manufacturing thermal papers. The carbonless paper is anticipated to account for the second-largest market share.

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Regional Overview

On a regional basis, the global leuco dye market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The European region accounted for the largest market share of more than 38% in the global market. This is due to the increasing use of leuco dyes in determining the quality of frozen meat and dairy products. The North American region is anticipated to hold the second largest market share.
The Asia Pacific region is expected to grow at the fastest growth rate owing to the rising usage of leuco dyes in the textile industry. Also, the high demand for leuco dyes in the automotive industry in Japan is anticipated to contribute to the market growth.

Competitive Landscape

Key players operating in the global leuco dye market include Anyang General Chemical Co. Ltd, Chameleon Speciality Chemicals, Connect Chemicals, ESCO Group LLC, Hebei Jianxin Chemical Co. Ltd, Hodogaya Chemical Co., Ltd, Kolorjet Chemicals Pvt Ltd, Nagase, and Co. Ltd, Sadhana Nitro Chem Ltd, Shouguang Fukang Pharmaceutical Co., Ltd, Spectrum Chemical Manufacturing Corp., TMC Hallcrest, Yamada Chemical Co. Ltd, and Yamamoto Chemicals, Inc., among others.

The cumulative market share of the major 7 players is near about 60%. These market players are engaged in partnerships, new product launches, mergers & acquisitions to strengthen their market presence. For instance, in February 2020, Nagase Holdings America acquired Interfacial Consultants, LLC. This acquisition expanded Nagase Holdings’s capabilities in high-performance thermoplastics. It also strengthened its position in the construction, transportation, consumer goods, and medical industries.

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The global leuco dye market report provides insights on the below pointers:

• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Leuco dye market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments

The global Leuco dye market report answers questions such as:

• What is the market size and forecast of the Global Leuco dye Market?
• What are the inhibiting factors and impact of COVID-19 on the Global Leuco dye Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Global Leuco dye Market?
• What is the competitive strategic window for opportunities in the Global Leuco dye Market?
• What are the technology trends and regulatory frameworks in the Global Leuco dye Market?
• What is the market share of the leading players in the Global Leuco dye Market?
• What modes and strategic moves are considered favorable for entering the Global Leuco dye Market?

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Updated : 2022-01-21 01:56 GMT+08:00

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