Please Wait.....
Report
China Protective Coatings Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 80 Pages I Mordor Intelligence
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.
Key Highlights
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 Market Trends
Increasing Activity in the Oil and Gas Sector
The oil and gas industry is one of the key contributors to the Chinese economy. The oil and gas industry operates in high-temperature environments. Thus the sector necessitates heat-resistant coatings. Coatings are also used to protect metal and steel structures from corrosion when exposed to moist and damp conditions. In the oil and gas industry, they are used for tanks, pipes, valves, and pumps, among others.
To prevent corrosion during oil and gas transportation to refineries, the oil and gas industry uses protective coatings for both upstream and downstream segments. The industry has been looking for ways to reduce capital costs. The need to comply with stringent environmental regulations has resulted in bio-based coatings demand in the region which is expected to have positive growth in the forecast period.
Offshore oil and gas production faces some of the most difficult challenges. As a result, the coating systems used must withstand these conditions. Long-term exposure to penetrating UV rays and constant contact with heat waves in the oil and gas sector increases the demand for protective coatings.
According to BP Statistical Review 2022, the overall oil consumption in the country has been on the rise over the decade. For instance, in 2021, the country's oil consumption in thousands of barrels per day was 15,442 thousand barrels per day, whereas in 2020, the consumption stood at 14,408 thousand barrels per day. In addition, the consumption growth rate is 4.8% yearly over the decade between 2011-21.
Moreover, the same source cited that the country witnessed positive growth in natural gas production. For instance, in 2020, the natural gas produced was 194 billion cubic meters whereas, in 2021, the production increased to 209.2 billion cubic meters, around 8.1% growth. In addition, over the decade, production has been growing by an average of 7% yearly.
All the above factors are expected to augment the demand for protective coatings for the oil and gas industry during the forecast period.
The Rise in Demand from the Infrastructure Sector
The infrastructure sector is one of the major end users of protective coatings. The industry requires corrosion and environmental effects-resistant coatings due to exposure of infrastructure surfaces to heat & sunlight, water, and acid rain, dust, and other chemical effects.
The infrastructure sector uses protective coatings for bridges and coastal Structures including roads and rail structures, Water Treatment, public power generation and transmission, and other infrastructure including public buildings. Moreover, organizations in China are shifting focus toward strict environmental regulations, which has led to an increased demand for sustainable coating systems.
One of China's main economic growth drivers has been its infrastructure investment. The government has planned funding to be directed primarily toward long-term infrastructure projects such as water infrastructures, and transportation among others that are likely to play a positive role in the economic growth of the country in the forecast period.
In 2021, China allocated a quota of USD 573 billion in Special Purpose Bonds for the purpose of developing major infrastructure projects to local governments. Moreover, in January 2022, local governments issued a total of USD 109.9 billion of bonds of which USD 70.5 billion were new Special Purpose Bonds (SPBs). This is a 93% increase from the same period in 2021.
Furthermore, in August 2022, Beijing authorities in China has further planned an investment of USD 146 billion for boosting economy and revenue generation in the country. The five major projects covered include renewables, canals, dams and reservoirs, urban infrastructure, rail infrastructure and major data centers.
All the above-motioned factors are expected to augment the demand for protective coatings for the infrastructure sector during the forecast period.
China Protective Coatings Market Competitor Analysis
The China protective coatings market is fragmented in nature. Some of the major players in the market (not in any particular order) include RPM International Inc, AkzoNobel NV, Jotun, The Sherwin-Williams Company, and PPG Industries, among others.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Activity in the Oil and Gas Sector.
4.2.2 The Rise in Demand from the Infrastructure sector
4.3 Market Restraints
4.3.1 Price Hikes of Raw Materials
4.3.2 Other Restraints
4.4 Industry Value Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size in Value)
5.1 Resin Type
5.1.1 Epoxy
5.1.2 Acrylic
5.1.3 Alkyd
5.1.4 Polyurethane
5.1.5 Polyester
5.1.6 Other Resin Type
5.2 Technology
5.2.1 Water Borne Coatings
5.2.2 Solvent Borne Coatings
5.2.3 Powder Coatings
5.2.4 UV Cured Coatings
5.3 End User Industry
5.3.1 Oil and Gas
5.3.2 Mining
5.3.3 Power
5.3.4 Infrastructure
5.3.5 Other End User Industry
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%) **/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AkzoNobel N.V.
6.4.2 Axalta Coating Systems
6.4.3 Beckers Group
6.4.4 FUXI
6.4.5 Helios Coatings
6.4.6 Hempel A/S
6.4.7 Jotun
6.4.8 Nippon Paint China
6.4.9 Noroo Paint
6.4.10 PPG Industries Inc.
6.4.11 RPM International Inc
6.4.12 Sino Polymer
6.4.13 The Sherwin Williams Company
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Bio-Based Coatings for Sustainable Solutions
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security