China Paints & Coatings Market to Grow with a CAGR of 2.86% through 2029
Growth
in research and development activities is expected to drive the China Paints
& Coatings Market growth in the forecast period, 2025-2029
According
to TechSci Research report, “China Paints & Coatings Market – By Region,
Competition, Forecast and Opportunities, 2019-2029F”, the China Paints
& Coatings Market stood at was valued at USD 20.55 billion in 2023 and is
anticipated to project growth in the forecast period with a CAGR of 2.86%
through 2029.
China's
position in the global paints and coatings market is becoming increasingly
influential, marked by a steady rise in both imports and exports. As one of the
world’s largest producers, China has significantly expanded its manufacturing
capabilities in coatings, becoming a major supplier not only to its domestic
market but also to emerging markets around the world. In particular, regions
such as Southeast Asia, Africa, and Latin America are seeing growing shipments
of Chinese coatings products. These regions benefit from China's competitive
pricing and large-scale production capacity, which make Chinese coatings an
attractive option for both residential and industrial applications. China's
export growth can be attributed to several factors, including its advanced
manufacturing technologies, which allow for the production of high-performance
coatings at lower costs. The country’s expanding infrastructure
and construction sectors have positioned it as a key player in supplying
coatings for various global projects, ranging from residential buildings to
large-scale industrial installations. The demand for eco-friendly, durable, and
cost-effective coatings from these emerging markets further accelerates China's
role as a dominant exporter.
China
is experiencing a growing need for imports, particularly in the realm of
high-quality coatings and specialized raw materials. While China is a global
leader in mass production, certain advanced coatings, such as those used in the
automotive, aerospace, and electronics sectors, require sophisticated
formulations and technology that may not yet be fully replicated in domestic
production. As a result, China imports premium coatings and raw materials from
developed markets such as Europe, North America, and Japan. These imports often
cater to niche industries that demand superior performance, durability, and
specialized features, which are not always available in locally manufactured
coatings. This dual flow of imports and exports highlights China’s evolving
role in the global coatings industry, balancing its massive production capacity
with the need for high-tech, specialized products that enhance its domestic
offerings and global competitiveness.
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The
China Paints & Coatings Market is segmented in resin type, application,
regional distribution, and company.
Based on the category of resin type, the acrylic segment emerged as the dominant player in the Chinese market for Paints & Coatings in 2023. Acrylic resins are highly valued in the paints and coatings industry due to their exceptional characteristics and properties. These resins are renowned for their outstanding color retention, maintaining vibrant hues on painted surfaces for extended periods. They offer excellent gloss potential, providing a lustrous and polished finish to coated products. Acrylic resins demonstrate superior weather resistance, protecting surfaces from environmental elements. Also, their remarkable qualities, acrylic compounds are prized for their elasticity and durability, maintaining structural integrity under various stresses. This makes them ideal for applications requiring long-lasting performance. Besides, acrylic resins exhibit excellent UV resistance, making them suitable for outdoor use where exposure to sunlight is unavoidable.
The dominance of acrylic resins in the market is attributed to their versatility across various applications. They are extensively used in architectural coatings, providing both protective and decorative finishes to buildings and structures. They find widespread application in automotive paints, delivering vibrant and durable coatings for vehicles. Acrylic resins play a crucial role in industrial finishes, ensuring durable coatings for equipment and machinery. This versatility allows acrylic resins to meet diverse needs and contribute to their strong market demand. In China, the paints and coatings market experiences significant growth due to rapid industrial development. The expanding construction sector drives demand for paints and coatings as new infrastructure projects emerge. Similarly, the growing automotive industry requires high-quality paints capable of withstanding road conditions. Increasing manufacturing activities contribute to demand in various sectors. With acrylic resins extensively used in these industries, their market presence in China has significantly expanded, aligning with overall market growth..
Based
on region, the East North & North-East region is expected to be the second
dominant segment in the China Paints & Coatings Market during the forecast
period. This region’s growing prominence can be attributed to its rapid
industrialization, urbanization, and strong economic development. The East
North & North-East region encompasses key cities such as Beijing, Tianjin,
and Shenyang, which are major industrial and commercial centers. The increasing
demand for paints and coatings in construction, automotive, and manufacturing
sectors in these cities is driving market growth. The region benefits from its
well-established infrastructure, including ports and transportation networks,
which facilitate easy access to both domestic and international markets. Its proximity to other major industrial zones allows for seamless
supply chain operations, ensuring the availability of raw materials and
finished products. As industries in this region continue to expand, the demand
for high-performance, eco-friendly, and durable coatings will increase,
contributing to the overall market growth.
Major
companies operating in China Paints & Coatings Market are:
- PPG Coatings (Kunshan) Co. Ltd.
- Akzo Nobel China B.V.
- Cosco Kansai Paint & Chemicals (Shanghai)
Co., Ltd.
- Nippon Paint (China) Co. Ltd.
- BASF Shanghai Coatings Co.
- Valspar Coatings Co., Ltd.
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“The
rise of DIY (Do-It-Yourself) and decorative coatings in the Chinese market
reflects a significant shift toward home personalization and self-expression.
As consumers seek to enhance their living spaces without professional help, the
demand for user-friendly, easy-to-apply coatings has surged. These coatings
cater to a broad range of preferences, offering a diverse palette of colors,
textures, and finishes, allowing individuals to create unique and customized
environments. This growing trend is closely tied to the increasing disposable
incomes of Chinese consumers, who are more willing to invest in home
improvement and personalization. The availability of DIY coatings has expanded
beyond basic color applications to include products with enhanced
functionality. Multi-functional coatings, such as those with anti-mold,
anti-fungal, and washable properties, have become particularly popular. These
coatings offer not only aesthetic appeal but also practical benefits, making
them ideal for residential spaces where durability and ease of maintenance are
crucial. The shift toward urbanization has also played a role in the growth of
the decorative coatings market. Many Chinese consumers are moving into smaller
apartments or newly built homes where space optimization and interior
aesthetics are key considerations”, said Mr. Karan Chechi, Research Director of TechSci Research, a research-based management consulting firm.
“China
Paints & Coatings Market By Resin Type (Acrylic, Alkyd, Epoxy,
Polyurethane, Polyester, Others), By Application (Architectural, Industrial,
Others), By Region, Competition, Forecast and Opportunities, 2019-2029F”,
has evaluated the future growth potential of China Paints & Coatings Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in China Paints & Coatings Market.
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