Tempered Coatings Market to Witness Significant Growth Due to Rising Demand From the Construction Industry

 
Tempered Coatings Market

Tempered coatings are eco-friendly coating solutions that provide durability and decorative performance to construction materials such as glass and metal. They are designed to strengthen glass and prevent shattering. The construction industry widely uses tempered coatings on glass doors, windows, shower enclosures, and handrails to meet safety standards. Advantages such as high mechanical strength, thermal endurance, and aesthetic appeal have increased the product's popularity.


The global tempered coatings market is estimated to be valued at US$ 61.98 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Rising demand from the construction industry has been a major driver for the tempered coatings market. As per industry estimates, over 80% of new buildings constructed worldwide implement tempered glass and metal coatings for safety, security and aesthetics. Stringent government regulations regarding building and construction safety are encouraging greater adoption of tempered materials. For example, in Europe all glass doors and windows installed at a height under one meter are required to be made of tempered glass.

Another key factor stimulating market growth is increased spending on infrastructure development across developing economies. Mega construction projects for buildings, airports and other commercial spaces are expected to generate high volume demand over the forecast period. Additionally, ongoing urbanization and growing disposable incomes are propelling home renovations and remodelling activities, thereby boosting tempered coatings consumption.

SWOT Analysis
Strength: Tempered coatings provide durability, scratch resistance and longevity to coated surfaces and improve the aesthetics of materials. They protect the base material from environmental hazards like moisture, chemicals and UV radiation. Application of tempered coatings involves an easy process and minimal labor costs.

Weakness: The high manufacturing and processing costs associated with tempered coatings makes their adoption expensive for some end use industries. Changing environmental regulations regarding the use of VOCs in coatings also poses challenges.

Opportunity: Growing infrastructure development activities in emerging economies increases the demand for tempered coatings in construction applications. Rising need for corrosion protection in oil & gas pipelines and storage tanks opens new avenues. Adoption of powder and waterborne coating technologies can help lower costs.

Threats: Stringent environmental norms banning the use of hazardous materials limit product innovation. Increased raw material prices impact the overall coating costs. The outbreak of COVID-19 pandemic has negatively impacted several end use industries temporarily lowering demand.

Key Takeaways
The Global Tempered Coatings Market Share is expected to witness high growth.

Regional analysis: The Asia Pacific region currently dominates the global tempered coatings market and is expected to maintain its lead position during the forecast years. This can be attributed to speedy industrialization and massive infrastructure development projects underway in countries like China and India. North America and Europe are other major consumers owing to their well-established end use industries.

Key players operating in the Tempered Coatings market are BrightSource Energy, Inc., EnergyNest AS., Ice Energy, Baltimore Aircoil Company, Inc., Abengoa Solar, S.A, Burns & McDonnell, Inc.

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

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