According to the latest statistics, the global paint market grew by 4.9% (slightly less than the expected 5.06%) in 2018, reaching 164.9 billion US dollars. The global paint market is mainly divided into the Middle East and Africa (MEA), Latin America (LA), Asia-Pacific, North America and Europe, of which the Asia-Pacific region accounts for about half of the global total, while China accounts for about two-thirds of the total consumption in the Asia-Pacific region, and the prospects are still very promising.

Strong Performance of Architectural Coatings

It is pointed out that the strong performance of architectural coatings in 2018, accounting for 55% of the global market share, is mainly due to the development and promotion of water-based technology. More and more construction projects use coatings as the main decorative materials. Compared with 10 years ago, the application of water-based technology in the whole building coatings market has increased by more than 50%. In addition, the market value of industrial coatings is expected to reach US$83.6 billion by 2023, with an annual compound growth rate of about 4.7% due to the increasing demand for coatings in the automotive industry and other general industries.

Coating resin market will continue to grow

According to relevant market research reports, the paint resin market is expected to grow at a compound annual growth rate of 5.1% from 2018 to 2023, from $29.5 billion in 2018 to $37.9 billion in 2023. The growth of terminal industries such as construction, packaging, general industry, automobile, ship, aerospace and furniture is the key factor to promote the growth of paint resin market.

Powder coating technology is expected to achieve the highest compound annual growth rate in the technical field of the global paint resin market. This technology is mainly used in automobile, household appliances, outdoor furniture manufacturing and construction industry. The main factor driving this growth is the requirement of regulations and standards. China has the largest paint market in the world.

Coatings for automobiles and ships have broad prospects

Despite the vigorous market demand, the development of coatings in China is still uneven, and can be self-sufficient in building coatings, furniture coatings, etc., but higher-grade automotive coatings, ship coatings and so on are basically dependent on imports.

For example, under the background of expanding shipbuilding completion and rapid growth of marine equipment manufacturing industry in China, the demand for new coatings and high-tech products such as new ship coatings, heavy-duty anti-corrosion coatings and special coatings is increasing. Water-based anti-corrosive coatings for ships will save energy, reduce pollution and reduce fire, which will be the future development. The main direction of attack.

In the automotive field, coatings are widely used, including varnish, color paint, intermediate paint, to the original spray paint, repair paint, passenger car paint, commercial vehicle paint and so on. At present, water-based products are superior to solvent-based products in terms of comprehensive aspects, their stability is better than solvent-based paints, their colors are more diversified, their long-term stability and persistence are better; on the other hand, from the construction performance, their greatest advantage lies in reducing energy consumption, solvent-based paints need high-temperature baking, and water-based products have less energy consumption. Less hair, better protection of the human body.

At present, the use and promotion of water-based products have become more and more widespread, water-based products have been basically realized in Europe, and there are still challenges in domestic promotion. Firstly, the unit product cost of waterborne paint is a problem, but with the improvement of economic scale benefit, cost control will not become the biggest problem. More challenges come from construction, such as replacement of equipment, retraining and upgrading of spraying skills, changes in spraying methods, etc. The industry is also in urgent need of upgrading.

Tendency of Solvent-free, Water-based and Low-content Solvents

In recent years, China's coatings industry has been committed to developing low-pollution, high-solid or solvent-free coatings (including powder, photo-curable) and water-borne coatings (high-temperature insulation coatings and high-temperature anticorrosive coatings); developing anti-fouling technology and antifouling coatings with low environmental risk; developing anti-rust pigments and substitutes for non-lead and chromium; developing clean production of titanium dioxide and iron oxide pigments. Technologies; Actively formulate the evaluation criteria of cleaner production processes in the paint industry to promote the development of new technologies, new materials and new technologies in the paint industry.

In addition, the new coatings developed in recent years, such as energy-saving glass coatings, radiation cooling coatings, sunscreen and heat insulation coatings, high-temperature sealing coatings, high-efficiency anti-fouling solar heat absorption coatings, have also brought new development opportunities for the coatings industry on the "low-carbon" road.