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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Tempera paint is a water-based pigment paint that is widely used for illustrations, illustrations, and children's artwork. It is made by mixing pigments with egg yolk and water. Tempera paint dries quickly giving it a matte finish and it doesn't produce an offensive odor. It is non-toxic, safe for children, and recommended for use in schools and educational institutions.
Tempera paint is gaining popularity among professional and amateur artists due to its quick drying nature, matte finish, and cost-effectiveness. It allows artists to make quick sketches and illustrations without waiting for long drying times. Moreover, growing art programs in schools and rise in art education is fueling the demand for tempera paint from educational institutions. Tempera paint has low toxicity and is considered safe for use by children, which is another factor contributing to its increased adoption. Major players are focusing on developing tempera paints with vibrant colors and easy blending properties to boost sales. However, availability of alternative painting mediums such as acrylic and watercolor paints can hinder the market growth.
Strength: Tempera paint possesses bright and vibrant colors that attract both kids and adults for art and craft activities. It allows overpainting and blending of colors which makes it easy to use for beginners. Being water-based, tempera paint is non-toxic, safe, and environment friendly.
Weakness: Tempera paint dries quickly which limits blending of colors. Once dried, it cannot be rewetted thus limiting creative changes. The layers or coats are thin providing less opacity.
Opportunity: Growing demand for art-based education and activities among kids and adults offers an opportunity to introduce new kids-oriented tempera paint products. Innovation in tempera paint formulations can address weakness of limited blending time and rewetting ability.
Threats: Rising popularity of alternative painting mediums like acrylic and watercolor poses threat from product substitution. Strict regulations around use of toxic ingredients in kids' products compel frequent reformulation increasing costs.
The Global Tempera Paint Market Demand is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing popularity of art-based education among kids and stress-relieving benefits of art activities among adults.
Regional analysis: North America dominates the global tempera paint market holding around 35% market share, driven by high consumption of art supplies in schools and colleges curriculum in the US and Canada. Asia Pacific exhibits the fastest growth fueled by growing middle-class population, rising disposable income, and increasing focus on holistic kids education in countries like India and China.
Key players: 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. Crayola LLC leads the market with wide range of kids tempera paint products offered at affordable prices.