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.
Notable Developments in the Market
In Jun, 2017, The Sherwin-Williams Company completed the acqusition of The Valspar Corporation. This step had made Sherwin-Williams the global leader in the paints and coatings market.
In the beginning of 2017, various Chinese coatings manufacturers increased the price of industrial coatings, owing to increase in raw material prices. For example, Jotun Coatings increased the price of ten types of industrial coatings by 26% to 40% due to the rising price of raw materials such as titanium dioxide.
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.
1.2 Research Methodology
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Regulatory Policies Analysis
3.3 Industry Attractiveness - Porter’s Five Force Analysis
3.3.1 Bargaining Power of Suppliers
3.3.2 Bargaining Power of Consumers
3.3.3 Threat of New Entrants
3.3.4 Threat of Substitute Products and Services
3.3.5 Degree of Competition
3.4 Raw Material Analysis
4. Market Dynamics
4.1.1 Accelerating Demand for Eco-Friendly Coatings
4.1.2 Growing Demand from Automotive Industry
4.2.1 Decrease in Demand from Marine Industry
4.3.1 Growing Use of Uv Coatings
4.3.2 Increasing Applications of Powder Coatings
5. Market Segmentation and Analysis
5.1 by Technology
5.1.1 Powder Coatings
5.1.4 Radiation Cured Coatings
5.2 by Resin
5.3 by End-Industry
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, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis
8.3 Strategies Adopted by Leading Players
9. Company Profiles
9.1 Akzonobel N.V.
9.2 Axalta Coating Systems Ltd. Llc
9.3 Basf Se
9.4 Beckers Group
9.5 Berger Paints India Ltd.
9.6 Chugoku Marine Paints Ltd.
9.8 Fujian Wanshun Powder Coatings Co. Ltd.
9.9 Guangdong Carpoly Chemical Group Co. Ltd.
9.10 Guangzhou Kinte Powder Coating Co. Ltd.
9.12 Henkel & Co. Kgaa Ag
9.13 Jinhu Color Powder Coating Co. Ltd.
9.15 Kansai Paint Co. Ltd.
9.16 Nippon Paint Co. Ltd. (Nipsea Group)
9.17 Ppg Industries
9.18 Protech Powder Coatings Inc.
9.19 Rpm International Inc.
9.20 the Sherwin-Williams Co. (Including Valspar Corporation)
9.21 Tikkurila Oyj
9.22 Yip's Chemical Holdings Ltd.
- Akzonobel N.V.
- Axalta Coating Systems Ltd. Llc
- Basf Se
- Beckers Group
- Berger Paints India Ltd.
- Chugoku Marine Paints Ltd.
- Fujian Wanshun Powder Coatings Co. Ltd.
- Guangdong Carpoly Chemical Group Co. Ltd.
- Guangzhou Kinte Powder Coating Co. Ltd.
- Henkel & Co. Kgaa Ag
- Jinhu Color Powder Coating Co. Ltd.
- Kansai Paint Co. Ltd.
- Nippon Paint Co. Ltd. (Nipsea Group)
- Ppg Industries
- Protech Powder Coatings Inc.
- Rpm International Inc.
- The Sherwin-Williams Co. (Including Valspar Corporation)
- Tikkurila Oyj
- Yip's Chemical Holdings Ltd.