The global tempered coatings market was valued at US$ 50.23 Bn in 2022 and is expected to reach US$ 86.95 Bn exhibiting a CAGR of 7.1% during the forecast period 2023-2030.
Rapid increasing of building and construction sector
The building & construction sector is increasing rapidly in developed and emerging countries owing to rising in demand for commercial space such as offices, hotels, malls, and industrial corridors where tempered coatings glass are widely used in doors and windows panels can drive the market growth in upcoming years. Furthermore, increasing the investments in building infrastructure in developing countries such as the China, the U.S., India, Japan, Mexico, and others can boost the global tempered coatings glass market growth in upcoming years. According to the report published by Make in India, March 2022, in financial year 2021 infrastructure activities accounted for 13% share of the total FDI inflows of US$ 81.72bn and India will become third largest construction market globally by 2025. However, tempered coatings glass is widely used in modern architecture due to its strength and safety properties. Tempered coatings glass is heat resistant that can helps to propel the market growth. Moreover, tempered coatings glass is used in various appliances such as drinking glasses, cookware, and laboratory glassware which can drive the market growth.
Figure 1. Global Tempered Coatings Market Revenue Share (%), By Type, 2022
Among type, plain glass held a dominant position in the global tempered coatings market in 2022, accounting for 60% market revenue share, followed by colored glass. Increasing demand of plain glass in building & construction sector is expected to drive the segment growth in upcoming years.
Tempered coating glass may cause various side effects
The long-term use of tempered coatings glass may cause various side effects. For instance, drastically change in temperature may cause tempered glass to outburst. Moreover, the glass is made up of silicon dioxide that can more effect on health related disorders such as silicosis, lung cancer, and others which can restraint the market growth.
|Base Year:||2022||Market Size in 2022:||US$ 50.23 Bn|
|Historical Data for:||2017 to 2021||Forecast Period:||2023 to 2030|
|Forecast Period 2023 to 2030 CAGR:||7.1%||2030 Value Projection:||US$ 86.95 Bn|
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.
|Restraints & Challenges:||
Rising number of industrial applications
Rising number of industrial applications and increasing number of construction activities in nations such as India, China, and some Southeast nations will help to boost the market growth in upcoming years. Tempered coating glass commonly used in automotive window panes, building windows, furniture, and interior activities in building. Increasing the disposable income, technological upgrades, new product developments, and original equipment manufacturers that can witness the significant growth in global tempered coating glass market.
Figure 2. Global Tempered Coatings Market Revenue Share (%), By Shape, 2022
Among shape, flat tempered glass segment held a dominant position in the global tempered coatings glass market in 2022, accounting for 59% of the market share. Flat tempered glass is heat resistant, protect from UV rays and sound reduction which can helps to boost the global tempered coatings glass market growth in forecast period.
Global Tempered Coatings Market - Impact of Coronavirus (COVID-19) Pandemic
COVID-19 has negatively affected the tempered coatings market. Due to lockdowns, countries are banned to travel and the shutdown of businesses can reduce the economic and industries growth of the developing countries. Disruption in raw materials supplies and freeze the supply chain during the pandemic tempered coatings market witnessed the lower growth. According to the report published by International Labor organizations, in January 2021, various construction enterprises across the globe faced liquidity problems owing to operating restrictions and reduced spending capacity. Moreover, import and export activities reduced drastically due to stringent regulation policies which can more effect on tempered coatings market growth.
Major players operating in global tempered coatings market include AFG Industries, Asahi Glass Company (AGC), Airxcel Inc., 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. For instance, in November 2020, according to a report published by the National Promotion and Facilitation Agency of India, India’s passenger vehicle industry is expected to rise between 20%-22% in 2022. This is also one of the major driver responsible for the growth of the tempered coating market.
Definition - Tempered coatings glass is generally made up of silicon dioxide, quartz silane, and silica particles which can prevent dirt and boost the brightness. Tempered glass is toughened, fortified glass which has oleo phobic coatings that improves smoothness and reduce the fingerprints. When tempered glass breaks, it breaks into small pieces, harmless for the most part. Tempered coating glass is also known as safety glass which is mainly used for car windows, shower doors, glass tables, and other installations where increased safety standards are necessary.
Coated Glass contains a conductive oxide infrared reflecting layer that makes them water repellence, dirt and snow repellence, durable protection, cleansing properties, and corrosion resistance. It is used in different sectors like marine, aviation, building and construction, automotive, and other sectors due to their physical factors. Urbanization has boosted the construction of Eco green commercial buildings and green projects, which are driving the growth of global tempered coated glass market. Coated glass is often used in windshields which is high-tech and improves thermal comfort inside the cars.
Increasing use of tempered glass in mobile phone accessories to sustain durability and reduce the chances of screen damage will drive the demand for tempered glass. For instance, according to report published by the Economic Times, March 2021, the smartphone industry has seen 11% growth rate in a year globally. The smartphone industry earned 150 billion in 2020 to 168 billion in 2021 this is anticipated to increase the sales of tempered coatings glass in the growing consumer electronics sector which can drive the market growth.
The increasing use of tempered glass in mobile phone accessories, consumers often view mobile phones as premium products and are willing to expand on external accessories such as tempered glass screen protector that propels the growth of the tempered coatings glass market. From many years tempered glass products are generally used for screen protection technology due to their high quality, multi-layered, and shock-absorbent properties.
Key features of the study:
“*” marked represents similar segmentation in other categories in the respective section.
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