Exhibit to Enhance Growth Momentum
Asia Is Still the World's Fastest-Growing and Most Dynamic Region
- Asia and China's GDP growth is projected to grow by 4.2% and 4.6% respectively in 2024. Both figures are ahead of the global growth forecast of 2.7% and account for the bulk of global growth. India, Indonesia, Thailand, Vietnam and Malaysia are the top 5 Asian emerging economies excluding China, creating high-growth opportunities together.
Asia Pacific Continues to Dominate Global Market Share
- High GDP, ever-rising population, increasing infrastructure spending, rapid urbanization and industrialization, growing disposable incomes, and expanding coatings usage among end-user industry segments in Asia Pacific countries like China and India, have been positively stimulating market demand for global coatings. Going forward, Asia Pacific coatings market is expected to grow at above global average rates.
Accelerating Growth of End-User Industries Drives Market Demand
- End-user industries, such as architectural, automotive, furniture, home appliances, shipbuilding and transportation are expected to grow at an average CAGR of 6% during 2022-2027. China is the world's largest coatings consumer, the world's largest electric vehicle market and the world's largest electronics manufacturing hub, which will continue to boost global coatings demand.
Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Is the World's Fastest Growing Bay Area
- With China being the world's largest manufacturing country, GBA ranks fifth globally in manufacturing value-added. GBA's GDP growth is forecast to reach 4.8% in 2023, exceeding other bay areas around the world. GBA has a strong manufacturing base particularly for electronics, electrical machinery and equipment, and automobile, bringing business opportunities to the industry.
CHINACOAT Platform Provides Industry with Competitive Edges
- For businesses to stand out from others, product / technology innovation and differentiation are essential to meet customers' satisfaction. Trade exhibitions have been proven to be an effective marketing tool for raising brand awareness and promoting new products. CHINACOAT series of exhibition serves as a strategic platform for exhibitors to highlight product benefits and sustain business growth.
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.
