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San Francisco, CA (PRWEB) October 27, 2012
In 2012, revenue for the Paint Manufacturing industry in China is set to reach $44.2 billion. Strong performance in downstream industries has fueled 15.8% annualized growth in the industry in the past five years, says IBISWorld. However, weakening international markets due to the European debt crisis and the appreciation of the yuan have led to declines in exports and imports over the period.
The development of the Paint Manufacturing industry is largely dependent on demand from Chinas automobile and real estate sectors. The construction of indemnificatory and low-rent government housing is speeding up, which is driving demand for architectural paint. Increasing urbanization is also supporting the development of the real estate markets in China's medium-sized and small cities. Meanwhile, strong double-digit growth in the Automobile Manufacturing industry in China has been boosting sales of automotive paint.
Within the Paint Manufacturing industry in China, many manufacturers operate on a small scale and are privately owned. The majority of these lack substantial capital, technology and employees, and only produce a small range of products. The top four players, Nippon, DuPont, Akzo Nobel and Chugoku Marine Paints, are all are all foreign-invested. However, more domestic manufacturers are adopting advanced technologies and the quality of domestic products is increasing, says IBISWorld.