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Exhibiting Info
Why Exhibit

The Economical Growth of the Country Drives the Industry Moving Forward

  • World GDP is expected to bounce back with a growth rate of 5.9% in 2021, the fastest in nearly 5 decades, and 4.9% in 2022.
  • Even as the pandemic persists, Asia is forecast to sustain strong rebound with an anticipated growth rate of 6.3% in 2022.
  • International Monetary Fund's report projects to grow at 5.6%.

 

Asia Pacific Continues to Dominate Global Coatings Market

  • Asia Pacific is the world's largest coatings market, accounting for 55% in 2020.
  • China is the world's largest coatings producer and consumer, accounting for 60% and 28% of Asia Pacific and global markets respectively, and is also the country with largest increase in demand.
  • Asia Pacific's per capita demand for coatings still has significant room for growth—even in China, with only 7.2kg per capita coatings consumption per year as compared to industrialized countries like Germany, which is around 18kg per capita per year.

 

China Greater Bay Area Spurs Coatings Demand

  • The Guangdong-Hong Kong-Macao Greater Bay Area (GBA) is a vibrant consumer market made up of 86 million residents and a diversified economy, with a GDP of US$1.97 trillion and a per capita GDP about US$20K in 2021.
  • GBA has high concentration of Fortune 500 companies, more than that of New York Bay Area, and houses many innovative technology companies and advanced manufacturing industries.
  • With favourable policies, large number of infrastructure projects are underway in the area, such as establishment of airport clusters, thereby upholding high coatings demand.

 

Benefited from Strong Coatings Demand

  • Global coatings industry experienced strong recovery in 2021, resulting from rapid growth in coatings consumption in some end-user industries such as automotive, architecture, transportation and consumer goods.
  • The market is poised to rebound vigorously as the pandemic recedes, due to rising manufacturing activities and infrastructure construction in developing countries, growing DIY activities in developed countries and global increases in motor vehicle production and ownership.

 

Fast-Growing End-Use Applications Propel Market Growth

  • Though the pandemic negatively affected various end-user industries, personal protective equipment (PPE), food packaging, medical & healthcare and infrastructure are witnessing quicker than expected recovery, continuing to drive coatings market in 2021 and beyond.
  • Rising awareness on VOC emissions also results in rising demand for more environmentally friendly coating products such as UV/EB coatings, high solids, powder coatings and water-borne coatings.
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.
  • Hong Kong
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