TechNavio recognizes the following companies as the key players in the Paint Manufacturing Industry in China: Nippon Paint (China) Co. Ltd., DuPont China, Akzo Nobel Coatings (China), Chugoku Marine Paints (China) Co. Ltd., and PPG Paints (China) Co. Ltd.
Commenting on the report, an analyst from TechNavio’s Hardware team said: ”The Paint Manufacturing industry is witnessing an increasing number of vendors, especially with foreign players strengthening their foothold in the industry by focusing on the Industrial and Residential sectors. Underdeveloped regions of China represent a potential market for paints and coatings used in the Residential and Industrial sectors. Since these regions cover a substantial area in the country and represent a potential market, bigger players are being attracted, leading to an increase in the number of vendors. This increase in the number of vendors exerts a positive impact on the industry.”
According to the report, one of the major drivers is the increasing demand for architectural paints and coatings. With the increasing focus on architectural aesthetics, there has been growing demand for architectural paint and coatings. Furthermore, the higher disposable income of consumers has resulted in increased spending on home aesthetics and d©cor. Apart from households, offices and shops also spend a considerable amount on d©cor. All these factors are expected to increase the demand for architectural paints and coatings, which in turn contributes to the growth of the Paint Manufacturing industry in China.
Further, the report states that one of the major challenges in the industry is the increasing prices of raw materials. Since raw materials constitute the majority of the total cost incurred in the manufacture of paints, the growing prices of raw materials is likely to increase the cost pressures on the vendors operating in the industry. This continuing increase in cost pressures will result in low profit margins and will also force some of the small vendors to cease trading. Hence, increasing raw material prices pose a major challenge to the growth in this industry.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Kansai Paints (China), Hempel-Hai Hong (China) Ltd., Huarun Paints Holdings Co. Ltd., Guangzhou Pearl River Chemical Industry Group Ltd., and Guangdong Carpoly Chemical Industry Co. Ltd.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/paint-manufacturing-industry-china-2012…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Hardware market research, please visit https://www.technavio.com/hardware
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TechNavio Announces the Publication of its Research Report – Paint Manufacturing Industry in China 2012-2016
