Tempera Paint Market Is Estimated To Witness High Growth Owing To Increasing Popularity Among Professional & DIY Artists

The Tempera Paint Market is estimated to be valued at US$ 4.11 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Tempera paint is a water-based, matte acrylic paint commonly used for designs, illustrations, and children’s art projects. It contains pigment, water, egg yolks or some other binding agent, and thickening agent to give it an opaque effect. Tempera paint dries quickly and forms a thin, vibrantly colored film. It is widely used for posters, cards, murals, stages sets, and sculptures owing to its versatility and ease of application.

Market Key Trends:
The global tempera paint market is witnessing high growth owing to increasing popularity among professional and DIY artists. Tempera painting allows artists to easily blend colors, it adheres well to surfaces such as paper, cardstock, canvas, wood, and more. Moreover, tempera paint is inexpensive, non-toxic, odorless, and washable making it suitable for both home and classroom use. The rising popularity of indoor painting activities and events involving tempera as a medium is fueling the market growth. Additionally, tempera’s quick-drying property allows artists to layer colors easily without disturbing underlying shades, thus driving its adoption among professional artists.

Porter’s Analysis

Threat of new entrants: The tempera paint industry has moderate barriers to entry as there are established brands and distribution channels. However, startup costs are relatively low.

Bargaining power of buyers: Buyers have moderate bargaining power as there are many established brands to choose from. However, brands differentiate themselves based on product quality and variety.

Bargaining power of suppliers: Raw material suppliers have low to moderate bargaining power as key inputs like pigments and binders have many substitutes available.

Threat of new substitutes: Acrylic and oil paints pose a threat being higher quality substitutes. However, tempera remains popular for classrooms due to low toxicity and cleanup.

Competitive rivalry: Intense as major players compete on price, product range and marketing. Brand loyalty remains high.

SWOT Analysis

Strengths: Non-toxic, easy to clean, affordable product preferred for children. Established brands with brand recognition.

Weaknesses: Lower quality and shorter shelf-life than substitutes. Vulnerable to competition from substitutes.

Opportunities: Expand into professional artist grade tempera lines. Growing demand in developing nations focused on primary education.

Threats: Regulations favouring non-toxic substitutes. Economic slowdowns impacting education sector spending.

Key Takeaways

The Global Tempera Paint Market Demand is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing focus on arts education. The market size for 2023 is US$ 4.11 Bn.

Regionally, North America dominates currently owing to robust arts education curriculum. Asia Pacific is poised to grow the fastest due to rising education expenditure and focus on STEAM education in countries like China and India.

Key players operating in the tempera paint market are Crayola LLC, Faber-Castell AG, Sargent Art, Reeves (Colart Group), Liquitex (Colart Group), Sax Arts & Crafts, Prang (Dixon Ticonderoga Company), RASCHER GmbH, Richeson Art Materials, Jovi S.L. Major players focus on product variants, distribution expansion and marketing campaigns targeted at educational institutions.

Read More:

Paint Segment Is The Largest Segment Driving The Growth Of Tempera Paint Market

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