CHINACOAT

Seize Opportunities from Asia's Economic Growth

Asia's developing economies growth forecast is projected to remain steady with an anticipated growth rate of 4.7% for 2023, while China's GDP is projected to grow at 5.2%. Both are ahead of the global growth forecast of 2.9% in 2023. Large populations coupled with new innovations in end-user industries in these regions offer lucrative opportunities to explore.

Asia Pacific Continues to Be the Fastest Growing Market Globally

Strong economic growth and favorable demographics have made Asia Pacific market the world’s largest market for a number of years. Such trend will likely outpace global growth in the foreseeable future. Asia Pacific covered the major part of the global coatings revenue and accounted the highest market share of 39.7% in 2022. China remains the largest single country market in Asia and the world, together with other emerging countries, for example India, Korea, Indonesia, Vietnam, and the Philippines are predicted to impel market growth.

Rising Demands from End-User Industries and Eco-Friendly Concern

Increasing building activities and government funding for various public infrastructure projects worldwide result in sizable demand for residential and commercial constructions. Demands in most industrial and automotive segments have also revived, especially in transportation manufacturing. Growing industrialization, rapid urbanizing and higher percentage of population adopting a middle-class lifestyle worldwide, particularly in emerging economies, resulting in growing demands for housing, automobiles and other manufactured products. Facing strict VOC emission regulations in different countries/regions, low-VOC and environmentally friendly technologies and products, such as waterborne, powder, high solids and UV curable coatings, are gaining popularity.

Capitalize on Development Opportunities in the Yangtze River Delta (YRD) City Cluster

YRD City Cluster was ranked first amongst China's city clusters in terms of development potential according to an official report in 2022. Its GDP growth rate reached 5.7% in 2022, which accounts for nearly quarter of the national total and is higher than the national growth rate of 3%. In addition, YRD City Cluster leads the country in manufacturing industries, such as industrial machinery, automobile and transportation infrastructure construction, creating a stable source of demand for coatings products and services.

Cost-Effective Marketing Tool

Many cross-national surveys have shown that social media and online communications cannot replace face-to-face interactions and in-person events. The world has undoubtedly entered the epidemic recovery period. CHINACOAT series of exhibition will continue to serve as an important platform to connect industry players and support the industry to be resilient to any future impacts.

Find Market Niches and Opportunities for Robust Growth

Asia is the largest and fastest growing market for global coatings industry and has been so for several years. Growth momentum is attributed to industry development in the region, as well as low per-capita coatings consumption. Countries like India and Indonesia continue to grow at strong rates.
China is anticipating to post a 6.4% GDP growth for year 2018, while India is projected to be the fastest growing economy in Asia at 7.3%. The overall 2019 GDP growth within Asia is estimated at 6%. These figures show that Asia remains the key driver for global economic growth.
On a global scale, the construction market, automotive market and industrial production are expected to remain steady in coming years. The coatings industry growth will continue to be led by Asia.

Grasp Business Potential in The Yangtze River Delta (YRD) Region

The scale of YRD city cluster was expanded from 16 cities to 26 cities in 2016. It is now the largest city cluster in China and the sixth-largest in the world. In the first half of 2018, its GDP growth was 7.2%, higher than the national average of 6.8%.
The YRD region is the manufacturing engine for industries like construction, home appliances, automobiles, machinery manufacturing, transportation, containers, etc. Coatings are inseparable from these industries, thereby maintaining a huge and sustainable demand.
Growing YRD economy provides a positive market environment for medium and high-end coatings products. Coupled with rising purchasing power of the consumer market, these factors continue to propel the growth of the coatings industry in the YRD region.

Direct and Effective Marketing to Cope with Changing Conditions

Global coatings market is forecasted to witness significant growth owing to increasing demand in housing and infrastructure projects and thriving middle class in the emerging economies.
Rising disposable incomes and urbanization are driving demand for coatings in architectural, transport, automotive, electrical and electronics applications.
Stringent VOCs regulations are likely to soar the demand for green coatings, such as waterborne coatings, powder coatings, high-solids coatings and UV/EB-cured coatings.