The global tempered coatings market is estimated to be valued at US$ 50.23 billion in 2022 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Tempered coatings are specialty coatings applied to glass surfaces to increase their strength and safety properties. These coatings enhance the impact resistance of glass, making it less prone to shattering upon impact. Tempered glass is widely used in various applications such as automotive, construction, electronics, and consumer goods. The need for tempered glass has been increasing due to the growing safety concerns and stringent regulations governing the use of glass in different industries.
Market key trends:
One key trend in the tempered coatings market is the increasing demand for safety glass. With the rising number of accidents and injuries caused by broken glass, there is a growing emphasis on implementing safety measures in various industries. Tempered glass, with its increased strength and shatter-resistant properties, effectively reduces the risk of injuries. For example, in the automotive industry, tempered glass is used for windshield and side windows to ensure passenger safety during accidents.
PEST Analysis:
- Political: Governments across the globe are implementing regulations to promote the use of safety glass in buildings and automobiles, thereby driving the demand for tempered coatings.
- Economic: The economic growth in emerging economies is leading to increased construction activities, which in turn fuels the demand for tempered glass and coatings.
- Social: Growing awareness about safety and the need to prevent accidents is driving the demand for tempered glass and coatings in various industries.
- Technological: Advancements in coating technologies have resulted in the development of high-performance coatings that enhance the durability and functionality of tempered glass.
Key Takeaways:
- The Global Tempered Coatings Market Size is expected to witness high growth, exhibiting a CAGR of 7.1% over the forecast period, due to increasing demand for safety glass. Tempered glass with enhanced strength and shatter-resistance properties is being widely adopted in various industries.
- In terms of regional analysis, Asia Pacific is expected to be the fastest growing and dominating region in the tempered coatings market, driven by rapid industrialization, urbanization, and increasing construction activities in countries like China and India.
- Key players operating in the global tempered coatings market include AFG Industries, Asahi Glass Company (AGC), AYG Coating Glass Co. Ltd., Cardinal FG, Gold Plus Glass, Guardian Industries, HNG Group, Jinjing Group, NSG Group, Pilkington, PPG Industries, Saint-Gobain, Sejal Float Glass, Shanghai North glass Technology & Industry Co. Ltd., and Zhejiang Glass Company Limited. These companies are focusing on product innovation and strategic collaborations to expand their market presence.
In conclusion, the global tempered coatings market is experiencing substantial growth due to the increasing demand for safety glass. This trend is driven by the need for enhanced safety measures in various industries. Moreover, favorable government regulations and advancements in coating technologies further contribute to the market growth. The Asia Pacific region is expected to dominate the market due to rapid industrialization and construction activities. Key players in the market are focusing on innovation and collaborations to strengthen their market position.
