Tempered Coatings Market is Expected to be Flourished by Rising Demand from Construction Industry

 
Tempered Coatings Market



Tempered coatings are specialized coatings applied on glass substrates during manufacturing to impart additional strength and mechanical integrity to the final glass product. Tempered glass has high strength and safety properties compared to conventional annealed or laminated glass. It is produced by heating glass to its softening point followed by rapid air quenching of the surfaces producing compression stresses on the surface and balancing tension stresses in the center of the glass. Major applications of tempered glass include doors, windows, furniture, appliances and transportation windshields where safety and mechanical strength are key factors. The global tempered coatings market is driven by robust growth of the construction industry worldwide. Rapid urbanization accompanied with rising disposable incomes in developing regions has boosted residential and commercial construction activities globally. Tempered glass finds key application in doors, windows, railings and furniture for buildings demanding high safety and durability.


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

Rising demand from the construction industry is a major driver expected to propel the tempered coatings market over the forecast period. Rapid urbanization, population growth and economic development especially in Asia Pacific and Middle East & Africa has led to significant increase in new residential, commercial and infrastructure construction projects globally. As per statistics, the global construction industry grew by over 3% annually between 2017 to 2021. Tempered glass offers advantages of strength, safety and durability which makes it an ideal glazing material specification for windows, doors, railings and furniture for buildings.

Another driver for the market is growth of the automotive industry. Tempered glass is a integral part of automotive windshields and other glass components such as rear and side windows demanding safety, durability and light weight properties. According to industry estimates, global vehicle production increased from 93 million units in 2017 to over 100 million units in 2022. Strict safety norms regarding windshields particularly in North America and Europe further augment the replacement demand for tempered automotive glass.
Segment Analysis

The tempered coatings market is segmented into functional coatings and decorative coatings. The functional coatings segment is expected to dominate the market during the forecast period. This is due to the extensive use of tempered coatings in industries such as automotive, construction and aerospace where protective and durable coatings are required for machinery, equipment and infrastructure. Within functional coatings, corrosion resistant coatings have the highest demand.

PEST Analysis

Political: Stringent environmental regulations regarding the use of volatile organic compounds (VOCs) in coatings are driving the demand for tempered coatings due to their lower VOC content. Most regions have regulations to limit VOCs in coatings.

Economic: Growth of end-use industries such as automotive, construction and aerospace is driving the tempered coatings market. Improving economic conditions globally are increasing investments in infrastructure and industrial sectors.

Social: Increasing consumer awareness about the benefits of tempered coatings such as protection, durability and maintenance-free surfaces is positively impacting the market.

Technological: Developments in tempering processes allowing for improved hardness, flexibility and gloss retention of coating films. Advances in resin chemistry for enhancing performance properties of tempered coatings.

Key Takeaways

The Global Tempered Coatings Market Demand is expected to witness high growth over the forecast period owing to increasing applications in various end-use industries. The Asia Pacific region currently dominates the market and is expected to maintain its lead position during the forecast period. This can be attributed to growth in the construction and automotive sectors in major countries such as China and India.

Regional analysis

The Asia Pacific accounts for more than 40% of the global tempered coatings market led by China, India, Japan and other Southeast Asian countries. Rapid urbanization and increasing infrastructure development projects in this region are driving the demand for tempered coatings from the construction industry.

Key players

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 Group and Croda International Plc. are some of the largest manufacturers of tempered coatings globally.

For more details on the report, Read- https://www.pressreleasebulletin.com/tempered-coatings-market-demand-share-analysis/

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