by Tempered coatings are liquid polymers used to seal surfaces and laminate glass. They help in maintaining structural integrity and strength along with providing durability, aesthetics and protection from corrosion and weathering. Tempered coatings are commonly used in architectural glass, automotive and aerospace industries owing to their ability to resist impact and thermal stresses.
The global tempered coatings market is estimated to be valued at US$ 53.8 Bn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increased construction activities is one of the major drivers of tempered coatings market. Rapid urbanization and industrialization have boosted infrastructure development activities worldwide. Emerging economies are witnessing large number of commercial and residential construction projects which in turn is driving the demand for architectural glass applications thereby propelling the tempered coatings market growth. According to United Nations, around 68% of the world population is expected to live in urban areas by 2050. Another key driver is growing automotive industry. Tempered coatings are widely used in automotive windshields and backlites as they provide shatter resistance and protect from UV degradation.
SWOT Analysis
Strength: Tempered coatings provide enhanced resistance to chemicals, corrosion and scratches. They are highly durable and long lasting. Tempered coatings can withstand harsh conditions and high temperatures making them ideal for industries like construction and automotive.
Weakness: Tempered coatings require specialized application techniques and experienced labor. The coating process is complex needing multi-step procedures and careful handling. Any mistakes during application can reduce the protective properties.
Opportunity: Growing infrastructure development and construction activities in Asia Pacific and Middle East countries is fueling the demand for tempered coatings. There is also potential to expand application scope in protective coatings for marine, aviation and oil & gas sectors.
Threats: Stringent environmental regulations around VOC emissions can restrict product formulation. Availability of alternative advanced surface treatment technologies like plasma, anodizing poses competition. Economic slowdowns can negatively impact end-use industries relying on tempered coatings.
Key Takeaways
The Global Tempered Coatings Market Demand is expected to witness high growth. Rapid urbanization and industrialization in emerging nations is driving extensive infrastructure projects boosting market prospects.
The Asia Pacific region currently dominates tempered coatings consumption attributed to China, India and Southeast Asian countries experiencing major economic growth and development activities.
Key players operating in the Tempered Coatings market are INEOS Group, Croda International Plc., Vantage Specialty Chemicals, RITA Corporation, The Innovation Company, Presperse Corporation, LANXESS Corporation, Trulux Pty Ltd., Dowpol Chemical International Corp, DeWolf Chemical, and SAMKWANG Co. Ltd. INEOS and Croda have established strong presence across major regional markets. Vantage Specialty Chemicals is investing in new production facilities to meet rising demand.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
