Anti-corrosion and waterborne coatings markets to grow in China
Two recently released market reports by GCiS China Strategic Research offer more proof that the market in China for anti-corrosion coatings and waterborne coatings continues to offer great growth potential. The market for anti-corrosion coatings in China was valued at RMB 30 billion (RMB 1 = EUR 0.12) at the end of 2010. The industry is growing at 13 % annually, and growth is expected to continue due to economic recovery in downstream industries, a rise in domestic demand and awareness of quality issues. In the period between 2010 and 2015, growth is forecasted at 19 % on average. China’s waterborne coatings market was valued at approximately RMB 15 billion in revenues, or roughly 1.2 million tons, at the end of 2010, according to a recent report by GCiS China Strategic Research. Acrylic-based waterborne coatings make up around 90 % of demand in the market. These are being widely used in architectural applications, where consumers are willing to pay a premium for low-toxicity paints, and the automotive sector, which is traditionally a key source of acrylic-based coatings demand. In real terms, the market grew by approximately 11 % in 2010. Continued adoption, by regulatory-push or quality-pull, will see five-year growth continue at this rate.