Market Size of China Protective Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Protective Coatings Market Analysis
China Protective Coatings Market was valued at USD 4200 million by the end of this year, and the market is projected to register a CAGR of over 4% during the forecast period.
COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is forecasted to grow steadily.
- The driving factors that lead to market growth include initiatives and policies from the government to develop infrastructure and increase activities in the oil and gas sector. Increasing revenue generation from various industries such as plastics, pulp, and paper, among others, and a rising shift in focus towards sustainable coatings are the key market trends driving the market.
- With supply chain disruptions post-COVID-19 pandemic, raw material prices' fluctuation has hindered the protective coatings market.
- The growing options for bio-based coatings are further likely to provide opportunities for the studied market during the forecast period.
China Protective Coatings Industry Segmentation
Protective Coatings are made of various raw materials, including resins, additives, pigments, solvents, and other materials. They are used to protect infrastructure, petrochemical industries, and oil and gas industries from corrosion and environmental effects, including acid rain, among others. The market is segmented based on resin, technology, and the end-user industry. By resin type, the market is segmented into Resin Epoxy, Acrylic, Alkyd, Polyurethane, Polyester, and Other Resin Types. The market is segmented by technology: Water borne Coatings, Solvent Borne Coatings, Powder Coatings, and UV Cured Coatings. By End-User Industry, the market is segmented into Oil and Gas, Mining, Power, Infrastructure, and Other End-User Industries. The report also covers the market size and forecasts for China Protective Coatings. The report offers market size and forecasts for revenue (USD million) for all the above segments.
| Resin Type | |
| Epoxy | |
| Acrylic | |
| Alkyd | |
| Polyurethane | |
| Polyester | |
| Other Resin Type |
| Technology | |
| Water Borne Coatings | |
| Solvent Borne Coatings | |
| Powder Coatings | |
| UV Cured Coatings |
| End User Industry | |
| Oil and Gas | |
| Mining | |
| Power | |
| Infrastructure | |
| Other End User Industry |
China Protective Coatings Market Size Summary
The China protective coatings market is experiencing a steady recovery and growth trajectory following the disruptions caused by the COVID-19 pandemic. The market is driven by government initiatives to bolster infrastructure and increased activities in the oil and gas sector. Key trends include a rising focus on sustainable coatings and increased revenue generation from industries such as plastics and pulp and paper. However, fluctuations in raw material prices due to supply chain disruptions post-pandemic have posed challenges. The market is also seeing opportunities in the growing demand for bio-based coatings, which align with the region's stringent environmental regulations.
The oil and gas industry, a significant contributor to China's economy, heavily relies on protective coatings to safeguard metal and steel structures from corrosion and withstand high-temperature environments. These coatings are essential for various components like tanks, pipes, and valves, especially in offshore production settings. The infrastructure sector also represents a major end user of protective coatings, necessitated by the need to protect structures from environmental and chemical effects. China's substantial investment in long-term infrastructure projects further fuels the demand for these coatings. The market is characterized by fragmentation, with key players such as RPM International Inc., AkzoNobel NV, Jotun, The Sherwin-Williams Company, and PPG Industries actively participating in the region.
China Protective Coatings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Activity in the Oil and Gas Sector.
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1.2.2 The Rise in Demand from the Infrastructure sector
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1.3 Market Restraints
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1.3.1 Price Hikes of Raw Materials
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1.3.2 Other Restraints
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1.4 Industry Value Chain Analysis
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1.5 Porter's Five Forces Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size in Value)
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2.1 Resin Type
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2.1.1 Epoxy
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2.1.2 Acrylic
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2.1.3 Alkyd
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2.1.4 Polyurethane
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2.1.5 Polyester
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2.1.6 Other Resin Type
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2.2 Technology
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2.2.1 Water Borne Coatings
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2.2.2 Solvent Borne Coatings
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2.2.3 Powder Coatings
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2.2.4 UV Cured Coatings
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2.3 End User Industry
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2.3.1 Oil and Gas
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2.3.2 Mining
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2.3.3 Power
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2.3.4 Infrastructure
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2.3.5 Other End User Industry
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China Protective Coatings Market Size FAQs
What is the current China Protective Coatings Market size?
The China Protective Coatings Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in China Protective Coatings Market?
RPM International Inc., AkzoNobel N.V., Jotun, The Sherwin-Williams Company and PPG Industries, Inc. are the major companies operating in the China Protective Coatings Market.
