by Tempera paint is a water-soluble, quick-drying paint that consists of pigment, water, and a water-soluble binder such as egg yolk or synthetic polymer. Tempera paints are widely used in elementary school art classes and DIY painting by professionals or amateurs due to its easy usage and fast drying nature.
The Global Tempera Paint Market Size 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 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing popularity of DIY projects and home décor activities is a key factor driving the growth of the tempera paint market. Tempera paint is gaining traction among hobbyist and home-based artists as it allows quick results and is easy to use for projects like canvas painting, posters, greeting cards, and kids crafts. Popular home decor and craft blogs promote tempera paint as a good option for beginning artists and hobbyists. This has led to the rising demand for tempera paints from the retail channel. Large varieties of colors and paints with no toxic smell further support its popularity in the non-professional art and craft market.
SWOT Analysis
Strength: Tempera paint is affordable and easy to use, making it a good option for beginners and students. It dries quickly.
Weakness: Tempera paint has less durability and longevity compared to other mediums such as acrylic or oil paint. The colors are not as vivid or vibrant.
Opportunity: There is room for innovation and new product development to make tempera paint more appealing to professional artists. Different varieties could expand the target market.
Threats: Other painting mediums such as acrylic and watercolor have gained more popularity in recent years, posing a threat. Competition from low-cost art supplies also affects sales.
Key Takeaways
The global tempera paint market is expected to witness high growth. 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 2024 to 2031.
North America currently dominates the market due to higher arts education and the presence of key manufacturers. Europe and Asia Pacific are also major regions, with growth driven by increasing art programs in schools and rising incomes allowing more discretionary spending on art supplies.
Key players operating in the tempera paint market are BASF SE and British Petroleum Plc. These companies have extensive distribution networks and invest in new product development. While tempera paint is mainly used by beginners, companies are trying to market new varieties to professional artists as well. Innovation will be key for companies to stay ahead amid competition.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
