December 6, 2024
Tempera Paint Market

Global Tempera Paint Market Estimated to Witness Growth Due to Easy Availability of Raw Materials

The global tempera paint market is primarily driven by the education and art industry where tempera paints are widely used by students and artists owing to their non-toxic and water-soluble properties. Tempera paints are pigment-based paints made by mixing pigments with water and a water-soluble binder like egg yolk. They allow easy cleanup, are non-toxic and fast-drying which makes them ideal for art and craft applications. Tempera paints provide vibrant color choices and a matte finish work.

The Global tempera paint market is estimated to be valued at US$ 4.74 Bn in 2024 and is expected to exhibit a CAGR of 3.1% over the forecast period between 2024 to 2031.

Key Takeaways

Key players operating in the global tempera paint market are BASF SE, British Petroleum Plc, Chevron Corporation, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (SINOPEC), ExxonMobil Corporation, INEOS Group Ltd., LyondellBasell Industries Inc., Royal Dutch Shell PLC, and SABIC. The key players are focusing on innovations to develop tempera paints with better color consistency and durability.

The global tempera paint market is expected to witness significant growth opportunities due to rising number of art and craft hobbyists and growing popularity of painting as a stress-buster activity. The demand is also growing from the education industry where tempera paints plays an integral part in early childhood development activities.

Owing to excellent brushability and blend-ability of tempera paints, their demand is expanding beyond developed regions of North America and Europe to emerging economies of Asia Pacific and Latin America. The manufacturers are focusing on these high growth regions by expanding their distribution networks and developing innovative product offerings catering to local customer requirements.

Market Drivers

Easy availability of raw materials like pigments, water and binders such as egg yolk, casein or gum arabic is the key driver boosting the Global Tempera Paint Market Size. Tempera paints have relatively lower production costs as compared to oil paints which has made them popular in developing markets. Growing awareness about non-toxic and eco-friendly attributes is further driving the preference for tempera paints in art and craft applications over other paint types.

PEST Analysis

Political: Government regulations on paint safety standards and child labour laws impact the production and sales of tempera paints. The regulations ensure paint safety for children.

Economic: Changes in disposable income levels affect sales of tempera paints. An economic slowdown may decrease art-related discretionary spending and hence sales of tempera paints.

Social: Tempera paints are commonly used in schools and homes for arts and crafts by children. Growing emphasis on arts education and importance given to hobbies drive the demand.

Technological: Advancements in tempera paint formulations allow for enhanced properties like quicker drying, blend-ability and brighter/vibrant colors without toxicity. Water-based formulation makes clean-up easy.

The value concentration of the tempera paint market is currently in North America and Europe owing to high per capita incomes and emphasis on education systems that promote arts and crafts activities using tempera paints. The US and major countries of Western Europe account for over 60% of the global market value.

The Asia Pacific region excluding Japan is expected to be the fastest growing geographical market for tempera paints over the forecast period. This is because of rising disposable incomes, growing middle class population and their increasing focus on hobbies and activities like arts and crafts for children aided by economic development across countries like China and India. The region is forecast to see a CAGR of over 4% till 2031.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.

View all posts by Money Singh →