April 18, 2024
Tempered Coatings Market

Tempered Coatings Market Set For Robust Growth By Increased Construction Activities

The global tempered coatings market is poised to grow significantly in the coming years. Tempered coatings are protective and decorative coatings applied on architectural surfaces like glass, metal, and plastics to provide safety, durability, and aesthetic appeal. They prevent glass breakage caused by impact or thermal stresses. The growing construction industry is one of the key demand drivers for tempered coatings as they find wide application on glass windows, doors, railings, etc. for buildings. Tempered coatings provide properties like scratch resistance, weather resistance and enable architectural designs not possible with ordinary glass.

The Global Tempered Coatings Market is estimated to be valued at US$ 61.98 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the Global Tempered Coatings Market Share are BrightSource Energy, Inc., EnergyNest AS., Ice Energy, Baltimore Aircoil Company, Inc., Abengoa Solar, S.A, Burns & McDonnell, Inc., and DC Pro Engineering.

Growing construction of commercial buildings and infrastructure is fueling the demand for tempered coatings. Factors like rapid urbanization, rising disposable income are driving more construction globally. tempered coatings ensure safety and durability of glass surfaces in buildings.

The market is witnessing increased growth in the Asia Pacific region owing to heavy investments in building construction in major economies like China and India. North America and Europe are also significant markets for tempered coatings attributed to growing renovations and refurbishments. Key players are expanding their production capacities in developing nations to tap the potential growth.

Market key trends

Sustainable and eco-friendly coatings are an emerging trend in the tempered coatings market. Stricter environmental regulations are pushing coatings manufacturers to develop green formulations with reduced VOC content. Water-based and powder coatings have lower environmental impact and are gaining popularity. Advanced nanotechnology is also being applied to enhance the performance characteristics of tempered coatings like self-cleaning and anti-microbial properties. Growing construction of green buildings will further drive the demand for sustainable coating solutions in the forecast period.

Porter’s Analysis

Threat of new entrants: Low capital requirements and established customers creates low barrier of entry.

Bargaining power of buyers: Large number of suppliers and availability of substitutes increases bargaining power of buyers.

Bargaining power of suppliers: Critical raw materials and differentiated products give suppliers a stronger position in negotiations.

Threat of new substitutes: Development of new coating technologies like plasma coatings pose threat of substitution.

Competitive rivalry: Fragmented market structure with presence of established regional players leads to intense competition.

Geographical Regions

North America accounts for the largest share of the global tempered coatings market, both in terms of value and volume. Factors such as presence of manufacturing hubs for end-use industries like construction and automotive as well as demand from infrastructure and building & construction sectors drive the North America market.

Asia Pacific is expected to witness the fastest growth during the forecast period owing to rapid urbanization, infrastructure development and growth in manufacturing industry in the region especially in China and India. Increasing spending on infrastructure projects will further augment the demand in Asia Pacific tempered coatings market.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it