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Tuesday, 17 September 2019
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Markets & companies, Coatings market

Double-digit growth for Chinese coatings market

Tuesday, 3 April 2012

Over the next five years, market growth is expected to remain at a level of around 10 % per year in China, with the fastest growth being achieved in road-marking paints, coatings for plastics, automotive refinishes and protective coatings.

Chinese coatings consumption by type, 2011. Source: IRL (A Division of BRG UK Ltd)

Chinese coatings consumption by type, 2011. Source: IRL (A Division of BRG UK Ltd)

Chinese paints and coatings consumption reached just over 11 million tonnes in 2011, of which architectural coatings occupied over a third of the market. This dynamic market has continued its growth trajectory despite the global economic recession by focusing on domestic market demand in the construction, automotive, and home appliances and consumer electronics sectors, according to the sixth edition of IRL’s report "A Profile of the Chinese Paint Industry”. China has continued to invest in infrastructure development, including new bridges, landmark city buildings, alternative-energy facilities, nuclear generation plants, schools and hospitals. These factors have all contributed to double-digit growth in the Chinese coatings market year on year since 2002, with the exception of 2008. Over the next five years, market growth is expected to remain at a level of around 10 % per year, with the fastest growth being achieved in road-marking paints, coatings for plastics, automotive refinishes and protective coatings. These booming sectors will compensate for considerably slower growth in automotive OEM coatings and wood coatings. Per capita paint consumption remains relatively low in China at approximately 7.2 kg, indicating that there is still considerable potential for the market to grow further and penetrate into the more underdeveloped regions of China. The Chinese coatings industry continues to be highly fragmented, with as many as 20,000 manufacturers active in the market, albeit on a very small scale for many. Future consolidation is highly likely, as smaller players get pushed out through environmental pressures and demand for more high-quality products from the end-users.

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