In recent years, competition in the coatings industry has become increasingly fierce, and it has also been affected by environmental inspections. Facing such an environment, how to survive has become a major issue for coating companies. The future development of the coatings industry will definitely move towards a green and environmentally friendly path.
Coating, as a modern multi-functional engineering material, is an important material in the chemical industry. According to the classification of modern chemical products, coatings belong to the fine chemical industry product with a wide range of uses. With the rapid growth of coating production and output value, the coatings industry is facing huge challenges. How to cope with the fiercely competitive environment has become the key to corporate survival.
Although China is already the world’s largest paint producer, due to its late start in the paint industry, the world’s top ten paint manufacturers are still concentrated in North America, Europe and Japan. . Data shows that in the early days of reform and opening up, my country’s annual coating output was approximately 50,000 tons, ranking eighth in the world. By 2009, my country’s coatings industry had overcome the adverse effects of the global financial crisis since 2008, with total output reaching 7.5544 million tons, ranking first in the world for the first time.
China’s industrialization and urbanization process has provided opportunities for the rapid development of industrial coatings and architectural coatings. The technical level of the coatings industry has progressed rapidly, and the types of coatings have become increasingly rich and diverse. Improvement, coating production and sales have also increased significantly. The sales volume of paints and coatings in China increased from 11.3 million tons in 2010 to 17.9 million tons in 2016, with a compound annual growth rate of 7.9%, and is expected to reach 22.3 million tons in 2021, showing a compound annual growth rate from 2017 to 2021 The rate is 4.4%.
China’s coatings industry has broad market capacity prospects, and strong downstream demand will maintain the growth momentum of the coatings industry. In 2010, the sales value of the coatings market was 223.6 billion yuan. By 2016, this number increased to 432.7 billion yuan, with a compound annual growth rate of 11.6%. The institute predicts that it will reach 574.6 billion yuan in 2021, which is the compound annual growth rate from 2017 to 2021. The growth rate is 5.7%.
At present, China’s coatings development is uneven. It is self-sufficient in architectural coatings and furniture coatings, but higher-end automotive coatings, ship coatings, etc. basically rely on imports. Lagging technology and homogeneous competition among low-end products have led to poor profitability in the paint industry, with sales profit margins of only 5% to 7% in recent years.
my country’s coatings industry is developing in three major directions: environmental protection, economy, and high performance. Therefore, there is still a lot of room for development in the coatings market in the next few years, and the investment prospects are broad.
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