LONDON - IRL has launched 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, offering more in-depth information on 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 tonnes in 2013 and is forecast to rise to nearly 17.9 million tonnes 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 European Union, United States 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.