IRL has announced the launch of a new edition of its single country report A Profile of the Chinese Paint Industry. In this study, IRL examines China's paints and coatings market independently and not as part of a regional study on the Asia Pacific paint market, thereby enabling us to present more in-depth information on paint market influences and trends. This fully updated seventh edition provides market data for 2013 and forecasts for 2018.

 

The total consumption of paints and coatings in China reached 13.1 million tons in 2013, and is forecast to rise to nearly 17.9 million tons by 2018. This is equivalent to an average annual growth rate of 6.5%, which is somewhat lower than historical trends in China but is still impressive compared with the more mature markets such as the EU, US and Japan. This growth forecast takes into account predicted Chinese GDP growth, the development of the iron and steel industry and its related sectors, growth in downstream industries (such as construction, automotive, petrochemical and machinery) and current per capita coatings consumption, which remains low.

 

Chinese Paint Market After four years of rapid growth, the Chinese paints market started to slow down in 2013 due to the unfavorable global economic situation and deceleration of certain downstream industries. However, demand for coatings in the construction, automotive, appliances and infrastructure sectors continued to grow. Therefore, the total paints market grew fairly moderately in 2013.