China's paint industry has a double harvest of production and profit!

Tom Bowtell, president of the World Coatings Council (WCC), recently pointed out in a video message at the 2024 China International Coatings Conference that: Currently, the size of the global coatings market is estimated to be $200 billion, with sales of 47 billion liters, and that China remains the world's largest and most active coatings market.

Liu Pujun, president of China Coatings Industry Association, said: in 2023, China's total coating output of 35.772 million tons, up 4.5%; main business income of 404.48 billion yuan, down 4.5%; total profit of 23.74 billion yuan, up 9.4%, realizing a double growth in production and profit!

It is understood that China's coatings market in the architectural coatings, industrial coatings market share of 43% and 28%; coatings industry focus on the production of geographic areas for the East China, Central China, South China, the three regions, the three regions of the overall production of the country's total of 75.5%, of which the East China coatings production accounted for 36.65% of the country; the relevant research report pointed out that, in 2022, only the three provinces of Guangdong Province, Jiangsu Province, and the Shanghai Municipality provinces and regions coating production has occupied 45.8% of the national production.

In 2024, the water-based industrial coatings market faces both challenges and opportunities. Market demand continues to grow, and environmental awareness is rising, driving the popularity of waterborne coatings, but there is still room for improvement in product durability and construction performance.

In response to increasingly stringent environmental standards at the same time, enterprises need to strengthen technological research and development and innovation, and constantly improve product quality and performance, while focusing on market expansion, brand building and customer service, to promote the waterborne industrial coatings market with a comprehensive development strategy in the direction of healthier, more environmentally friendly and innovative forward.