China Industrial Coatings Market - Segmented by Resin Type, Technology, End-user and Geography - Growth, Trends and Forecast (2018 - 2023)
China’s industrial coatings market is estimated to be valued at USD 19.45 billion in 2017. The general industrial end-user accounts for the largest share of the market. Water-borne technology is expected to be the fastest growing.
Expansion in Oil and Gas Activities Set to Propel Growth of Protective Sector of Industrial Coatings
The decrease in oil price has led to a dip in the oil and gas sector across major economies. However, countries such as China have decided to go on with further expansion of oil refinery sites. This is being initiated by some of the leading oil producers in the world, such as SINOPEC and CNCP. Moreover, China is receiving investments from other major players in this sector. All these factors will ensure robust growth in the Chinese industrial coating sector.
General Industrial to Account for the Largest Share of the End-user Segment During the Forecast Period
The general industrial sector in China majorly covers consumer appliances, sports equipment, and parts of automotive, likes wheels, break lines, mirror coatings, coil coatings, and HVAC coatings. Growth of the end user is mainly attributed to the increasing user penetration in the consumer durable sector in the major economies of APAC. China’s consumer economy is projected to expand by about half to USD 6.5 trillion by 2020, even if annual real GDP growth cools to 5.5%. These factors are expected to ensure that the market will have significant growth during the forecast period. General industrial is also expected to be the fastest growing sector in the end-user application.
Notable Developments in the Market
February 2017: Major Chinese industrial coating players, including Jotun, have announced price increase on their industrial coating products
Major Players: PPG Industries, Akzo Nobel NV, Jotun A/S, and RPM International, amongst others.
Reasons to Purchase the Report
To understand the impact of increasing stringent regulations on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating technology in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
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