The current situation and development prospects of China's coatings industry?

——Foreseeing 2023: "Panorama of China's Powder Coatings Industry in 2023" (with market size, competition landscape and development prospects, etc.)

Main listed companies in the industry: Shanghai Xinyang ( 300236), Feiyang Technology (873565), etc.

The core data of this article: the main bidding quantity scale of China's powder coating industry; the scale of winning bids in China's powder coating industry

Industry overview

1. Definition and classification of powder coatings

Powder coatings are mainly solid powders mixed with resins, curing agents, pigments, fillers, additives, etc., and are applied to the object to be coated through electrostatic spraying, fluidized bed dipping, etc. The surface is then baked to melt, level, and solidify into a film. Because it does not contain any organic solvents, is pollution-free, has high utilization rate, low energy consumption and simple process, powder coating has become a recognized "4E" (high-efficiency, energy-saving, environmentally friendly and economical) coating. In addition, the powder coating itself has many advantages. The film layer has high mechanical properties, excellent chemical resistance, anti-corrosion properties and reduced labor intensity. Therefore, since its introduction, powder coatings have been attracting attention from various countries and become the new favorite in the coatings market.

Based on the type of resin used in powder coatings, powder coatings can be divided into two categories: one is thermoplastic powder coatings prepared from thermoplastic resins, and the other is thermosetting powder coatings prepared from thermosetting resins. . Since thermoplastic powder coatings generally use thermoplastic resins with relatively large molecular weights, these characteristics lead to shortcomings such as strong resin toughness, difficulty in crushing, high softening temperature, high melting temperature, poor leveling, and poor adhesion, which limits its application. . Thermosetting powder coatings use thermosetting resins with small relative molecular weights to cross-link with curing agents at a certain temperature to form a macromolecular coating with a network structure. Compared with thermoplastic powder coatings, thermosetting powder coatings have better performance, larger output, and wider range of applications. At present, domestic thermosetting powder coatings occupy an absolutely dominant position in the powder coatings market.

The subdivision types of powder coatings are as follows:

2. Industry chain analysis

Powder coatings are mainly composed of resins, curing agents, pigments, fillers, The solid powder mixed with additives is applied to the surface of the object to be coated through electrostatic spraying, fluidized bed dipping, etc., and then baked to melt, level, and solidify into a film. The upstream of the powder coating industry chain is raw materials, including resins, pigments, solvents and additives, etc.; the midstream is powder coating products, which are divided into thermoplastic powder coatings and thermosetting powder coatings according to the type of resin used. Currently, thermosetting powder coatings dominate the domestic powder coatings market. It occupies an absolute dominant position; the downstream is the application field of powder coatings. Powder coatings are widely used because they do not contain organic solvents, are safe in production and construction, can recycle and reuse oversprayed powder, can easily be automated in coating, and have excellent coating properties. It is used in many fields such as building materials, household appliances, furniture, 3C and automobiles.

From the perspective of participating companies in the powder coating industry chain, the upstream participating companies mainly include American Dow, Baling Petrochemical, Jiangsu Sanmu Group, Longbai Group, Yuanli Technology, Wansheng Co., Ltd.; midstream powder coatings Participating companies mainly include AkzoNobel, Sherwin-Williams, Nippon Paint and Tiger Paint, etc.; downstream demand companies mainly include Conch Cement, Midea Group, FAW Group and Oppein Home Furnishing.

Industry development history

The initial stage of the development of my country's powder coating industry began in the 1970s. The former Coatings Industry Research Institute of the Ministry of Chemical Industry successively developed decorative, anti-corrosion and low-temperature curing products. Epoxy resin powder coating, polyester resin powder coating and other products were put into trial production in Shenyang, Chengdu, Jiangsu and other places; in 1984, my country's industrial fields, led by the home appliance industry, began to flourish. With the continuous expansion of the industrial application field of powder coatings, in addition to investing in the development of new products to meet market demand, various domestic scientific research and production units have begun to introduce advanced powder coating technologies and manufacturing equipment from abroad. This has opened up the introduction of technology in my country's powder coating industry. and the prelude to localization; in the 1990s, Herberts of Germany and AkzoNobel of the Netherlands entered China and soon became the largest powder coating manufacturers in China; at the same time, with Hangzhou Zhongfa, Anhui Shenjian, Zhejiang Tiansong, The rapid development of polyester manufacturers for powder coatings led by Guangzhou Qingtian has driven the development of China's powder coatings industry; at the beginning of the 21st century, my country's powder coatings industry began to develop rapidly; by the end of 2021, there will be more than 10,000 powder coatings production equipment across the country As a manufacturer, while its products meet domestic demand, they have also been widely recognized by overseas markets, and their international market share continues to increase.

Industry policy background

In recent years, the coatings industry has introduced a number of policies, which are mainly focused on environmental protection. At the same time, the technical requirements for industry products have been continuously improved, and standards and regulations have been intensively introduced. Guide the coating industry to develop in the direction of ecological and environmental protection.

Judging from the development layout of the powder coating industry in various provinces and cities across the country, most provinces have proposed to promote the use of coatings with low volatile organic compound content in the "14th Five-Year Plan" comprehensive work plan for energy conservation and emission reduction, and to The proportion of solvent-based industrial coatings used will be reduced by 20 percentage points.

Industry development status

From 2013 to 2019, my country's powder coating output has continued to grow.

According to data from a report released by the Coatings and Coatings Professional Committee of the Chinese Chemical Society, the output of thermosetting powder coatings in 2019 was 1.92 million tons, an increase of more than 9% over 2018, and the total output of powder coatings was 2.1 million tons, a year-on-year increase of 19.32%. Data from the Coatings and Coatings Professional Committee show that China's overall powder coating output in 2020 will be approximately 2.31 million tons. Looking forward, based on the development status and trends of China's powder coatings in recent years, preliminary statistics show that China's powder coatings output will reach 2.53 million tons in 2021.

With the promotion of national environmental protection and related policies and the active efforts of the industry, powder coatings continue to maintain rapid growth. According to statistical data from the Coatings and Coatings Professional Committee of the Chinese Chemical Society and Qutu.com, my country's total powder coating sales volume showed an increasing trend year by year from 2016 to 2021, increasing from 1.42 million tons in 2016 to 2.1981 million tons in 2021. Sales volume of powder coatings in China increased by 3.8% year-on-year

Data from the Coatings and Coatings Professional Committee of the Chinese Chemical Society show that the market size of China's powder coatings industry gradually increased from 2010 to 2019, and the overall growth rate was in a sustained growth range. However, the growth rate in recent years The fluctuation trend is relatively obvious. In 2020, China's powder coating market size will be approximately 40.4 billion yuan. According to the previous Chem

Quest Powder Coating

Research data, in the global powder coating market in 2021, the Asia-Pacific region has the largest market share, at 58.9%; among them, China’s powder coating market size is approximately Accounting for about 50% of the global total. Looking forward, combined with the global powder coating market size in 2021 and the proportion of China's powder coating market size, preliminary statistics show that China's powder coating market size in 2021 will be approximately 42.8 billion yuan.

Industry competition landscape

On May 23, 2022, the data of "Top 100 Powder Coating Companies in 2022" released by Qu Paint showed that (based on the operating data of each company in 2021), in 2021 The total sales volume of powder coatings in my country was about 2.1981 million tons in 2018, a slight increase of 3.84% year-on-year. The top 100 companies still account for nearly half of the country's market share and are the locomotive driving the development of the powder coating industry.

Specifically, the top ten on the list of "Top 100 Powder Coating Companies in 2022" are: AkzoNobel, Aiyue, Huajia, Wanan, Sunris, Jingaoli, Ruizhi , Tiger New Materials.

Industry development prospects and trend predictions

1. Industry development trend analysis

Overall, in the future, my country's powder coating products will move towards low-temperature curing and thin coating. It will develop in the direction of modernization and functionalization, and focus more on downstream users. It will further improve industry standards and upgrade industry digitalization to achieve comprehensive and high-quality development.

2. Forecast of industry development prospects

Powder coatings have the characteristics of environmental protection, energy saving, high performance, etc., and are widely used in home appliances, furniture, automobiles, building materials, outdoor facilities, pipelines and other products Coating can meet different requirements for appearance, weather resistance, anti-corrosion and other properties. It has high performance, wide range of uses and large market space. It is expected that by 2027, the market size of the domestic powder coating industry will reach approximately 64.7 billion yuan.

According to the "14th Five-Year Plan for China's Coatings Industry" issued by the China Coatings Industry Association, it is expected that during the "14th Five-Year Plan" period, the overall output value of the domestic coatings industry will grow at an average annual rate of about 4%. Combined with the overall growth rate of the coatings market, it is expected that the powder coatings market will be slightly higher than the average level of the coatings market. Preliminarily calculated at a compound growth rate of 6%, China's powder coatings market will reach 60.7 billion yuan by 2027.

For more detailed research and analysis of this industry, please refer to the "China Powder Coatings Industry Development Prospects Forecast and Investment Strategic Planning Analysis Report" by the Qianzhan Industry Research Institute.