China Industrial Coatings Market
The China industrial coatings market is estimated to be USD 14,364.48 million currently in 2016. The market is projected to reach USD 18,569.34 million by 2021, at an estimated CAGR of 5.27%, during the forecast period, from 2016 - 2021.
China accounts for more than 50% of the industrial coatings market in the APAC region. The rapid expansion of the industrial coatings market in China has resulted in a drop in the per unit price of the coatings, thereby increasing its use throughout the region. Moreover, the rising disposable income of people has led to increased spending on end-users, such as furniture, building & construction, and is boosting the industrial coating market in China. Additionally, tax regulations in China, compared to Europe, have resulted in low market-penetration barriers, making China an attractive destination for new entrants. Although China has enjoyed one of the top positions as a consumer of industrial coating in the APAC region, the industry is struggling for innovation and investment in R&D activities compared to developed economies, such as United States.
Accelerating demand for eco-friendly coatings and growing demand from automotive industry are factors driving the industrial coatings market in China. However, decrease in demand from marine industry may pose a threat for the market.
The China industrial coatings market, on the basis of technology, has been segmented into powder coatings, solvent-borne, water-borne, radiation cured coatings, and others. Water-borne coatings are slowly replacing solvent-borne coatings. Further, the market has been segmented on the basis of resin type into acrylic, epoxy, alkyd, polyurethane, polyesters, and others. On the basis of end-user industry, the market has been segmented into aerospace, automotive (automotive refinish and automotive OEM), consumer durables, industrial, marine, wood, transportation, and others.
Opportunities and Major Players
Growing use of UV coatings and increasing application of powder coatings will offer numerous opportunities for the growth of the china industrial coatings market According to China National Coatings Industry Association (CNCIA), roughly 700 members account for more than 80% of the market. Some of the major companies dominating this market for its products, services, and continuous product development, include:
Kansai Paint Co., Ltd.
Nippon Paint Holdings Co., Ltd.
Axalta Coating Systems, LLC
Chugoku Marine Paints, Ltd.
Key Deliverables in the Study
Market analysis for the China industrial coatings market, with specific assessments and competition analysis on a regional scale.
Market definition along with the identification of factors instrumental in changing the market scenario and prospective opportunities.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the china industrial coatings market on regional scales.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.