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The rapid growth of China's economy, the continuous increase in demand for real estate, the increase in the popularity of automobiles, and the acceleration of infrastructure construction will all drive the growth in the demand for coatings and pigments. Driven by strong market demand, AkzoNobel and Rohm and Haas have now entered China, and other companies’ investment plans are also advancing.
The market monitoring company Datamonitor PLC's research report points out that the market value of paints and coatings in the Asia-Pacific region will increase from US$21.2 billion in 2004 to US$40.2 billion in 2010; the paint market demand will increase from 7 million tons in 2004 to 1200 in 2010. Ten thousand tons. In 2004, the market value of pigment fillers used in the production of paints in China was US$400 million. It is expected to reach approximately US$1 billion in 2011, with an average annual increase of 13.2%.
Akzo Nobel opened a new powder coating plant in Langfang in mid-January. As early as last June, the company opened a decorative paint production plant in Suzhou. According to reports, the company’s goal is to achieve sales of 1 billion euros by 2010, and in November last year its sales in China had reached 750 million US dollars. At the end of last year, Rohm and Haas built a 100,000-square-meter paint production plant in Foshan, which is expected to start production in the middle of this year. In addition, Degussa's new pigment production plant in Shanghai will also be put into production this year.
Market analysts pointed out that both the 2008 Beijing Olympic Games and the 2010 Shanghai World Expo will have an important role in promoting the Chinese economy, and there is great potential for the growth of demand for decorative coatings. The growing demand for environmentally friendly coatings will further increase the demand for pigment fillers, because environmentally friendly coatings require more filler than traditional solvent-based coatings.
According to the latest news from the US "Chemical Market Report", the vigorous development of China's economy has driven the rapid growth of paint production and consumption. According to Frost & Sullivan, a New York-based consulting firm, although there are 8,000 paint manufacturing companies in China and annual production is about 3.8 million tons, the market gap is still large. Many well-known multinational companies are targeting this business opportunity and are coming to China. Investment to set up factories.