Chinese Automotive Coatings Market Generates $2.8 Billion in Revenue
SHANGHAI — According to a report by GCiS China Strategic Research, about 463,000 tons of automotive coatings were sold to the China market in 2011, generating $2.8 billion in revenues for suppliers. Through 2016, the market by output is expected to experience an average year-on-year growth rate of seven percent, with repair coatings driving much of the growth. The study takes an in-depth look at the Chinese automotive OEM and automotive repair coatings markets.
The study found that the Chinese automotive coatings market, particularly the high-end market, is concentrated around a number of major international and domestic suppliers, and on the whole, foreign competitors have been remarkably successful in China. One Chinese automotive coating supplier remarked, “Foreign companies mainly occupy the high end of the market, whereas in the lower end, domestic suppliers have a clear price advantage. The influence of foreign brands in China is growing larger and larger; besides just joint ventures, more and more domestic (end-user) companies are choosing foreign products.”