China accounts for more than 50% of the industrial coatings market in the Asia-Pacific 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.
The 12th Five-Year plan calls for a focus on water-borne coatings, powder coatings, high solid coatings, radiation-curable coatings and other environmentally-friendly products. This factor encourages local manufacturers to increase production facilities for the aforementioned products. To meet customer requirements, coating companies in the country strive to produce coating materials that have faster application and curing times, smart properties (such as self-cleaning and mold-preventing), photo catalytic properties, improved resistance to chemicals, weather, etc., and longer pot time.
Developing infrastructure, government support and a healthy demand for eco-friendly coatings are factors driving the industrial coatings market in China. Other factors, such as the increasing use of UV coatings, and developing applications of water-borne coatings offer varied growth opportunities for the market in the country. Dominance of local players in certain segments such as wood coatings, is expected to attract heavy investments from international players. However, VOC emission constraints from solvent-borne coatings still pose a threat for the market.
The China industrial coatings market is broadly segmented by type into; powder coatings, solvent-borne coatings, water-borne coatings and radiation cured coatings. On the basis of resins, the market has been divided into acrylics, epoxy, alkyd coatings, PU, polyester and other coatings. The end-user industries of the industrial coatings market considered in the report are; aerospace, automotive (OEM and Refinish), consumer durables, industrial (includes oil & gas industries, chemical process industries, power sector, etc.), marine, wood, building and construction and others.
Some major companies profiled in the report are:
- Akzo Nobel N.V.
- Axalta Coating Systems
- Beckers Group
- Kansai Paint Co., Ltd
- The Sherwin Williams Company
- Guangzhou Kinte Powder Coating Co., Ltd.
1.2 Research Methodology
1.3 Scope of the Study
2. Executive Summary
3. Market Insights
3.2 Industry Value Chain Analysis
3.3 Regulatory Policies Analysis
3.4 Industry Attractiveness Porters 5 Force Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Consumers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
3.5 Raw Material Analysis
4. Market Dynamics
4.1.1 Developing Infrastructure Supported by the Government
4.1.2 Demand for Eco-friendly Coatings
4.3.1 Growing Use of UV Coatings
4.3.2 Developing Applications of Water Borne Coatings
4.3.3 Dominance of Local Players in Wood Coatings Industry to Attract Investments from International Counterparts
5. Market Segmentation and Analysis
5.1 By Type
5.1.2 Solvent Borne
5.1.3 Water Borne
5.1.4 Radiation Cured Coatings
5.2 By Resin
5.2.4 Polyurethane (PU)
5.3 By End-user Industry
18.104.22.168 Automotive OEM
22.214.171.124 Automotive Refinish
5.3.3 Consumer Durables
6. Future of the Market
7. Technological Snapshot
7.1 Current Technologies
7.2 Upcoming Technologies
8. Competitive Landscape
8.1 Mergers & Acquisitions
8.2 Joint Ventures, Collaborations and Agreements
8.3 Vendor Market Share Analysis
8.4 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials, Products & Services, Recent Developments)
9.1 Akzo Nobel N.V.
9.2 Axalta Coatings Systems
9.3 BASF Coatings GmbH
9.4 Beckers Group
9.5 Berger Paints
9.6 Carpoly Group (Guangdong Carpoly Chemical Group Co., Ltd.)
9.7 Chugoku Marine Paints, Ltd.
9.8 E. I. du Pont de Nemours and Company
9.9 ELCO Powder Coat
9.10 Guangzhou Kinte Powder Coating Co., Ltd.
9.11 Hempel A/S
9.12 Henkel AG & Company, KGaA
9.13 Jinhu Color Powder Coating Co., Ltd.
9.14 Jotun Coatings (ZJG) Co. Ltd.
9.15 Kansai Paint Co., Ltd
9.16 Guangzhou Kinte Powder Coating Co., Ltd.
9.17 Luan Jietonda Chemical Co.,Ltd.
9.18 Nippon Paint
9.19 PPG Industries
9.20 Protech Powder Coatings Inc.
9.21 RPM Powder Coating
9.22 The Sherwin-Williams Company
9.23 Tikkurila Oyj
9.24 Trelleborg AB
9.25 Valspar Corporation
9.26 Wanshun Powder Coating
9.27 Hangzhou Guozhen Wanxin Coating Equipment Manufacturing Co. ltd
9.28 Yip's Chemical Holdings Limited