The Global Tempered Coatings Market was valued at US$ 50.23 Bn in 2022, according to the Global Tempered Coatings Market Report, by Type (Plain Glass and Colored Glass), by Shape (Flat Tempered Glass and Bent Tempered Glass), by End-use Industry (Automotive, Construction, Electrical and Electronics, and Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa) – published by Coherent Market Insights.
The global tempered coatings market is expected to surpass US$ 86.95 Bn in 2030 and exhibit a CAGR of 7.1% during the forecast period 2023-2030. Tempered or toughened glass is a type of safety glass processed by controlled thermal or chemical treatments to increase its strength compared with normal glass. 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.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/tempered-coatings-market-5540
Browse 44 market data tables* and 32 figures* on "Global Tempered Coatings Market” – Forecast to (2023-2030).
Key Trends and Analysis of the Global Tempered Coatings Market:
- Rapid digitalization couples with increasing penetration of smart customer electronics such as smartphones, laptops, tablets, and other that can help to propel the global tempered coating glass market growth in forecast period.
- Growing popularity for anti-reflective coating solar tempered glass can fuel the global tempered coating glass market growth in forecast period.
- Increasing growth of green construction buildings that can drive the global tempered coating glass market growth in upcoming years.
Key Takeaways of the Market:
- Among end-use industry, the construction segment is expected to drive the market growth, owing to foreign direct investment inflow in construction sector where tempered coating glass is widely employed as toughened glass in mirrors frames, doors, and others.
- For instance, in August 2021, a glass manufacturer, Cardinal Glass Industries announced to acquire all the assets of AGC Glass which is a glass manufacture company in the U.S. and expand their production unit in globally.
Key Players
Major 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.
Global Tempered Coatings Market - Impact of Coronavirus (COVID-19) Pandemic
Since March 2020, almost every industry in the world has suffered due to the COVID-19 pandemic. The demand for consumer goods in 2020 reduced significantly, which in turn, hampered growth of the global tempered coatings market. Furthermore, supply chain disruptions also reduced the growth of the global tempered coatings market. Moreover, import and export activities reduced drastically due to stringent regulation policies.
The falling income of customers has led to contraction of the demand of tempered coatings glass among the automotive sectors. For instance, according to report published by Wipro, the sales of passenger cars saw a 30% decline in march 2020 as compare to 2019 due to lockdown and shutdown of auto plants.
