Analysis of the development status and competitive pattern of the coating industry in 2024

Paint is a liquid or solid material used for coating on a body surface, forming a thin film under certain conditions, and having protection, decoration or other special functions. Because of the early paint mostly with vegetable oil as the main raw material, so also called paint. However, with the development of synthetic resins, vegetable oils are now largely or completely replaced, and they are therefore called coatings.

There are many kinds of coating classification methods, which can be classified according to the form, construction method, use, etc. According to the form, coatings can be divided into water-based coatings, solvent coatings, powder coatings, high solid coatings, etc. Water-based coatings are coatings with water as thinner, with the advantages of environmental protection and safety; solvent coating with organic solvent as thinner, with the advantages of quick dryness and good adhesion; powder coating, with high decoration and functionality; high solid coating with high solid content, with low VOC emission and high decoration.

In addition, according to the construction method, the coating can be divided into brush coating, spraying coating, roller coating, immersion coating, electrophoretic coating, etc. Brush coating is a manually painted coating, with the advantages of simple operation and simple tools; spraying coating is a coating with high coating efficiency, roller coating with good coating effect and material saving; immersion coating is a coating with high coating efficiency and good decoration; electrophoretic coating is a coating with electric field, with the advantages of high decoration and high durability.

Coating industry industry chain analysis

From the perspective of the industrial chain, the coating industry involves many links. Upstream is the main source of coating raw materials and production equipment. These raw materials mainly include film-forming materials, facial fillers, solvents and additives, which are essential components in coating manufacturing. The quality of these raw materials directly affects the quality and performance of coatings.

Midstream is the production and manufacturing link of coating. In this link, the enterprise needs to go through multiple processes, the raw materials into the final coating products. In this process, the technical level and production capacity of the enterprise determines the quality and performance of coatings.

Downstream, coating products into the practical application link. They are widely used in the construction, automobile, shipbuilding, furniture and other industries, to provide supporting protection and decoration services for these industries.

In China, the number of enterprises in the coating industry is numerous, some of the representative enterprises include three trees, Oriental Yuhong, Xiangjiang coating, Gaboli, Asia creation energy, Guangxin materials, Jinlitai, Donglai technology, three Gorges paint, etc. These companies have a certain share of the market and have their own brands and customer groups.

Upstream raw material preparation enterprises are also an important part of the coating industry. These enterprises include Excalibur, Annada, Dongbai Group, CNNC Titanium dioxide, etc. They focus on the research and development and production of fine chemical materials, and provide high-quality raw materials for the coating industry.

Development course of the coating industry

In 1949, the establishment of new China, there are only 50 paint factories, engaged in paint production workers less than one thousand people, the annual output of less than ten thousand tons. At that time, the coating products were mostly low-grade varieties, and on this basis, China opened the development of the new China coating industry.

In the 1970s, China's coating production began to grow steadily, reaching 300-500,000 tons. By the 1990s, China's paint production had been close to 1 million tons, showing a strong growth momentum.

In the 21st century, China began to pay attention to environmental protection and sustainable development, and vigorously promoted water-based coatings, powder coatings, radiation curing coatings and other low-pollution coatings. These new coatings in the production and use of the process of pollution is less, in line with the requirements of green environmental protection.

Now, China has been from the coating country to the coating power, the coating industry is also constantly transformation and upgrading. With the increasing degree of national attention to environmental protection, green economy has become the main theme of social and economic development. Paint as one of the main pollution sources, the national level has issued a series of policies to standardize the industry to environmental protection and energy saving direction.

Environmental protection, low VOC volatile coating is the main development direction of the industry in the future. With the continuous progress of technology and the improvement of environmental awareness, it is believed that China's coating industry will continue to develop towards a more green, environmental protection and sustainable direction.

Coating industry development status quo

Data from the Coatings Industry Association showed that the total output of China's coating industry in 2020 reached 32.759 million tons, while the output in 2022 was 34.88 million tons, down compared to 2021. The decline was mainly due to the cooling of the property market and the escalating impact of the COVID-19 pandemic. However, preliminary statistics show that the total output of China's coating industry in 2023 reached 36.1 million tons, showing a certain recovery trend.

In terms of the coating market size, in 2022, China's coating industry enterprises realized the main business revenue of 452.5 billion yuan, down 1.6% year on year. However, preliminary statistics show that the figure reached about 466.1 billion yuan in 2023, showing a certain growth trend.

Looking forward to the future, it is expected that by 2029, the scale of China's coating industry will exceed 600 billion yuan. From 2024 to 2029, the annual cagR of the coating industry will exceed 4%, showing the continuous growth potential of the coating industry.

Coating industry competition pattern analysis

From the distribution of the representative enterprises in the coating industry, these enterprises are mainly concentrated in some specific regions of China. Specifically, they are mainly distributed in Shanghai, Zhejiang, Anhui and Shandong in east China, as well as Guangdong in south China, Sichuan and Beijing in southwest China. This regional distribution shows that the development of the coating industry is closely related to factors such as geographical location, economic conditions and market demand.

In 2022, the main business revenue of China's coating industry enterprises is about 452.5 billion yuan. This figure shows that although the coating industry faces some challenges, such as environmental protection policies and market demand changes, but the overall still maintained a certain growth momentum.

In terms of market share, companies vary in sales. Among them, the market size of Nippon, PPG, Aksu Nobel, Sanshu, Xuanwei and Zodun accounted for 5.04%, 2.40%, 2.28%, 1.90%, 1.37% and 1.37% respectively, ranking the top six in the whole industry. This shows that these companies have a strong competitiveness and brand influence in the paint market.

BASF's market share is also more than 1%, indicating that it has a certain share in the paint market. Overall, although there are many brands in the Chinese coating market, but a few large enterprises occupy the dominant position.

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