Industrial Coatings
Industrial
coatings include transportation coatings and other coatings. Transportation
coatings can be divided into automobile coatings and ship coatings, etc.
Industrial coatings account for 60-70% of the total coating output.
In
2015, the total output of coatings in China was 17.17 million tons. The output
of solvent-borne coatings was 9.68 million tons, accounting for 57%. The output
of non-solvent-borne coatings was 7.49 million tons, accounting for 43%.
Solvent-borne coatings dominate the coating industry in China, while
non-solvent-borne coatings are mainly architectural decoration coatings, which
account for 31% of the total coating output. The proportion of water-borne
industrial coatings is now low, but it is growing rapidly.
By the
end of 2016, more than 1,000 coating producers in China were transforming from
production of solvent-borne coatings to water-borne coatings. Most enterprises
are yet at the stage of research and development. Not many products are used by
downstream enterprises, etc. Water-borne industrial coatings are mainly used in
automobiles, steel structures, furniture, containers and locomotives. In
passenger car sector, the proportion of water-borne primer exceeds 90% and the
proportion of water-borne mid coat and prime coat is over 35%. According to
data from China Coating Industry Association, around 35% of automobile OEM
coatings in China are water-borne coatings and the proportion of water-borne
products in conventional industrial coatings is less than 10%. A conservative
estimate based on the data is that the proportion of water-borne industrial
coating is 10-15%.
According
to the 13th Five-Year Plan for the Coating Industry in
China, environment-friendly coatings will account for 57% of the total coating
output in China by 2020. The proportion of powder coatings will exceed 10% and
the proportion of water-borne industrial coatings will exceed 30%. It is
expected that the market size of water-borne industrial coatings in China will
be over 2.00 million tons. The CAGR of water-borne industrial coatings will
therefore exceed 25%. There will be a huge potential in this sector.
