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China Water-based Coating Industry Report, 2014-2018

August 2015 | 92 pages | ID: CE956C5B31DEN
ResearchInChina

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So far, China has become the world's largest coating production and consumption country. In 2014, China’s coating output reached 16,482 kt, accounting for 38% of the global total and consisting of 5,357 kt of construction coatings and 11,125 kt of industrial coatings (including 1,780 kt of automobile coatings).

Despite rapid development, China’s coating industry is still at the initial stage, with a low penetration rate compared with developed countries. In 2014, China’s water-based coating production approximated 1,648 kt, occupying 10% of total coatings, and the market size totaled around RMB46.48 billion. Driven by good policies, especially the Notice of Taxation on Battery and Coating Consumption issued by the State Administration of Taxation, China’s water-based coatings are expected to develop at a fast pace, and the penetration rate will be improved.

China’s water-based coating market is now dominated by international brands represented by BASF, Axalta and AkzoNobel. Moreover, these major international brands are still expanding their water-based coating capacities in China to further enhance competitiveness.

In January 2014, Axalta invested USD50 million in the construction of a 25 kt/a quality water-based coatings plant in Shanghai. The plant was to be put into operation in 2015. In November 2014, Akzo Nobel Swire Paints (Chengdu) Ltd started its water-based coating project, and the first phase worth RMB360 million is to be completed in 2015. In May 2015, BASF announced to invest RMB1.06 billion in expanding a 79.5 kt/a automotive coating project, including 9.5 kt/a waterborne colored paint, 5 kt/a solvent-based undercoat, 25 kt/a varnish, and 40 kt/a diluent, expected to go into operation in 2017.

In contrast, the Chinese water-based coating manufacturers are less competitive, with the representative enterprises including Shanghai Kinlita Chemical Co., Ltd. (KNT), SKSHU Paint Co., Ltd, Shenzhen Rainbow Fine Chemical Industry Co., Ltd. and Zhanchen Paints Co., Ltd.

As one of the leading water-based coating producers in China, KNT successfully launched 1-generation two-component cathodic electrodeposited coating in 1998, making it the only enterprise with proprietary brand that mass produces cathodic electrodeposited coatings (with an annual output of over 10 kt). In 2015, KNT, together with a subsidiary of Axalta, established a joint venture, in which a 50.1% stake is held by KNT. The new joint venture is mainly engaged in sales of paints and coatings for commercial trucks.

SKSHU has 4 wholly-owned subsidiaries, whose products cover a full range of coating products, including home-decoration coatings, construction coatings, and carpentry paints. In 2014, the company’s water-based coating output totaled 112.5 kt, which generated revenue of about RMB680 million. In the same year, SKSHU filed for an IPO and raised funds to expand an 80 kt/a water-based coating project.

Zhanchen Paints has 7 major production bases nationwide. Up until now, it has obtained 235 rights of invention patent and invention patent application, and has participated in formulating and revising 19 national coating industry standards. In 2014, the company’s revenue approached RMB1.8 billion. In January 2015, the company announced to resume the IPO program, and it is now preparing for the application materials.

China Water-based Coating Industry Report, 2015-2018 is mainly concerned with the following:
  • Development of global water-based coating industry, including development status market size, etc.;
  • Development of China’s water-based coating industry, including development status, related policies, market size, import and export, competition pattern, etc.;
  • Forecast and outlook of China’s water-based coating industry, operation of major enterprises, as well as development of upstream and downstream sectors;
  • Operation and water-based coating business of top 10 players in China.
1 OVERVIEW

1.1 Definition
1.2 Characteristics

2 DEVELOPMENT OF GLOBAL WATER-BASED COATING INDUSTRY

2.1 Status Quo
2.2 Market Size

3 DEVELOPMENT OF CHINA’S WATER-BASED COATING INDUSTRY

3.1 Status Quo
3.2 Policies
3.3 Market Size
3.4 Import and Export
  3.4.1 Import
  3.4.2 Export
3.5 Competition Pattern

4 DEVELOPMENT OF UPSTREAM AND DOWNSTREAM SECTORS OF CHINA’S WATER-BASED COATING INDUSTRY

4.1 Upstream Sectors
  4.1.1 Titanium Dioxide
  4.1.2 Resin
4.2 Downstream Sectors
  4.2.1 Construction
  4.2.2 Automobile
  4.2.3 Furniture

5 MAJOR ENTERPRISES

5.1 Shanghai Kinlita Chemical Co., Ltd.
  5.1.1 Profile
  5.1.2 Operation
  5.1.3 Revenue Structure
  5.1.4 Gross Margin
  5.1.5 Supply and Marketing
  5.1.6 R&D and Investment
  5.1.7 Water-based Coating Business
  5.1.8 Forecast and Outlook
5.2 Shenzhen Rainbow Fine Chemical Industry Co., Ltd
  5.2.1 Profile
  5.2.2 Operation
  5.2.3 Revenue Structure
  5.2.4 Gross Margin
  5.2.5 Supply and Marketing
  5.2.6 R&D and Investment
  5.2.7 Water-based Coating Business
  5.2.8 Forecast and Outlook
5.3 SKSHU Paint Co., Ltd.
  5.3.1 Profile
  5.3.2 Operation
  5.3.3 Revenue Structure
  5.3.4 Gross Margin
  5.3.5 R&D and Investment
  5.3.6 Supply and Marketing
  5.3.7 Water-based Coating Business
  5.3.8 Forecast and Outlook
5.4 Wanhua Chemical Group Co., Ltd.
  5.4.1 Profile
  5.4.2 Operation
  5.4.3 Revenue Structure
  5.4.4 Gross Margin
  5.4.5 R&D and Investment
  5.4.6 Water-based Coating Business
  5.4.7 Forecast and Outlook
5.5 Guangdong Maydos Building Materials Co., Ltd.
  5.5.1 Profile
  5.5.2 Operation
  5.5.3 Revenue Structure
  5.5.4 Gross Margin
  5.5.5 Water-based Coating Business
  5.5.6 Forecast and Outlook
5.6 Chongqing Sanxia Paints Co., Ltd.
  5.6.1 Profile
  5.6.2 Operation
  5.6.3 Revenue Structure
  5.6.4 Gross Margin
  5.6.5 Supply and Marketing
  5.6.6 R&D
  5.6.7 Water-based Coating Business
  5.6.8 Forecast and Outlook
5.7 Zhanchen Paints Co., Ltd.
  5.7.1 Profile
  5.7.2 Operation
5.8 Hebei Chenyang Industry & Trade Group Co., Ltd.
  5.8.1 Profile
  5.8.2 Water-based Coating Business
  5.8.3 Chenyang Waterborne Paint
5.9 Zhejiang Shenglibang Paint Industry Co., Ltd.
  5.9.1 Profile
  5.9.2 Operation
  5.9.3 Development
  5.9.4 Water-based Coating Business
5.10 Carpoly Chemical Group Co., Ltd.
  5.10.1 Profile
  5.10.2 Operation
  5.10.3 Water-based Coating Business

6 FORECAST AND OUTLOOK

6.1 Outlook of Water-based Coating Industry
  6.1.1 Prospects
  6.1.2 Trends
6.2 Business Operation Comparison
  6.2.1 Revenue
  6.2.2 Net Income
  6.2.3 Gross Margin

SELECTED CHARTS

Characteristics of Water-based Coating vs. Solvent-based Coating
Structure of Water-based Coating vs. Solvent-based Coating
Advantages and Disadvantages of Water-based Coating
Comparison of Various Water-based Coatings
Global Coating Market Size, 2011-2014
Global Coatings Demand Structure by Sector, 2014
Revenue of Top 10 Global Coating Enterprises, 2014
Global Coating Output and YoY Growth, 2011-2014
China’s Coating Output and YoY Growth, 2006-2015
Apparent Consumption and YoY Growth of Coatings in China, 2006-2014
China’s Coating Output by Type, 2006-2014
Product Mix of China’s Coating Industry by Type, 2006-2014
Output and YoY Growth of Automobile Coatings in China, 2006-2014
China’s Water-based Coating Output, YoY Growth, and % of Total Coatings, 2009-2014
China’s Policies on Coating Industry, 2009-2015
Market Size of China’s Coating Industry, 2009-2014
Product Demand Structure of China’s Coating Industry by Sector, 2014
China’s Water-based Coating Market Size and YoY Growth, 2009-2014
Import Volume and Value of Coating, Printing Ink, Pigment, etc. in China, 2010-2014
Import Volume and Value of Acrylic Water-based Coating in China, 2010-2014
Import Volume and Value of Other Water-based Coatings in China, 2010-2014
Export Volume and Value of Coating, Printing Ink, Pigment, etc. in China, 2010-2014
Export Volume and Value of Acrylic Water-based Coating in China, 2010-2014
Export Volume and Value of Other Water-based Coatings in China, 2010-2014
Output and YoY Growth of Titanium Dioxide in China, 2009-2014
Output and YoY Growth of Synthetic Resin and Copolymer in China, 2009-2014
Output and YoY Growth of Polypropylene Resin in China, 2009-2015
Output and YoY Growth of PVC Resins in China, 2009-2015
Total Output Value and YoY Growth of China’s Construction Industry, 2009-2015
China’s Housing Floor Space and YoY Growth, 2009-2014
Ownership and YoY Growth of Automobiles in China, 2009-2015
Output and YoY Growth of Automobiles in China, 2009-2015
Revenue and Growth Rate of Chinese Automobile Enterprises, 2011-2015
Revenue and Growth Rate of Chinese Furniture Manufacturers, 2011-2015
Output and YoY Growth of China’s Furniture Industry, 2009-2015
Revenue and Net Income of KNT, 2010-2015
Revenue Breakdown of KNT by Product, 2010-2014
Revenue Structure of KNT by Product, 2010-2014
Revenue Breakdown of KNT by Region, 2010-2014
Revenue Structure of KNT by Region, 2010-2014
Gross Margin of KNT, 2010-2015
Gross Margin of KNT by Product, 2010-2014
Output, Sales Volume, and Inventory of KNT, 2011-2014
KNT’s Procurement from Top 5 Suppliers and % of Total Procurement, 2010-2014
KNT’s Revenue from Top 5 Clients and % of Total Revenue, 2011-2014
R&D Costs and % of Total Revenue of KNT, 2010-2014
Revenue and Net Income of KNT, 2014-2018E
Revenue and Net Income of Rainbow Fine Chemical, 2010-2015
Revenue of Rainbow Fine Chemical by Product, 2010-2014
Revenue Structure of Rainbow Fine Chemical by Product, 2010-2014
Revenue of Rainbow Fine Chemical by Region, 2010-2014
Revenue Structure of Rainbow Fine Chemical by Region, 2010-2014
Gross Margin of Rainbow Fine Chemical, 2010-2015
Gross Margin of Rainbow Fine Chemical, 2010-2014
Rainbow Fine Chemical’s Procurement from Top 5 Suppliers and % of Total Procurement, 2010-2014
Rainbow Fine Chemical’s Revenue from Top 5 Clients and % of Total Revenue, 2010-2014
Output and Sales volume of Rainbow Fine Chemical by Sector, 2013-2014
R&D Costs and % of Total Revenue of Rainbow Fine Chemical, 2010-2014
Revenue and Net Income of Rainbow Fine Chemical, 2014-2018E
SKSHU’s Major Subsidiaries
Revenue and Net Income of SKSHU, 2011-2014
SKSHU’s Revenue by Product, 2011-2013
Revenue Structure of SKSHU by Product, 2011-2013
SKSHU’s Revenue by Region, 2011-2013
SKSHU’s Revenue Structure by Region, 2011-2013
SKSHU’s Gross Margin, 2011-2013
SKSHU’s Gross Margin by Product, 2011-2013
Gross Margin of SKSHU by Region, 2011-2013
R&D Costs and % of Total Revenue of SKSHU, 2011-2013
SKSHU’s Proposed Fund-raising Projects and Their Investment
SKSHU’s Output and Sales by Product, 2011-2013
Number of SKSHU’s Distributors, 2011-2013
SKSHU’s Procurement from Top 5 Suppliers and % of Total Procurement,2011-2013
SKSHU’s Revenue from Top 10 Clients and % of Total Revenue, 2011-2013
SKSHU’s Water-based Coating Capacity, 2011-2013
Water-based Coating Revenue and Growth Rate of SKSHU, 2011-2014
Revenue and Net Income of SKSHU,2014-2018E
Development Goal and Main Products of Wanhua Chemical Business Division
Revenue and Net Income of Wanhua Chemical, 2010-2015
Revenue of Wanhua Chemical by Product, 2010-2014
Revenue Structure of Wanhua Chemical by Product, 2010-2014
Revenue of Wanhua Chemical by Region, 2010-2014
Revenue Structure of Wanhua Chemical by Region, 2010-2014
Gross Margin of Wanhua Chemical, 2010-2014
Gross Margin of Wanhua Chemical by Product, 2010-2014
Gross Margin of Wanhua Chemical by Region, 2010-2014
R&D Costs and % of Total Revenue of Wanhua Chemical, 2011-2014
Revenue and Net Income of Wanhua Chemical, 2014-2018E
Revenue and Net Income of Maydos, 2012-2014
Revenue of Maydos by Product, 2012-2014
Revenue Structure of Maydos by Product, 2012-2014
Gross Margin of Maydos, 2012-2014
Revenue and Net Income of Maydos, 2014-2018E
Revenue and Net Income of Sanxia Paints, 2010-2015
Revenue of Sanxia Paints by Region, 2010-2014
Revenue Structure of Sanxia Paints by Region, 2010-2014
Gross Margin of Sanxia Paints, 2010-2015
Sanxia Paints’ Procurement from Top 5 Suppliers and % of Total Procurement, 2011-2014
Sanxia Paints’ Revenue from Top 5 Clients and % of Total Revenue, 2011-2014
Sanxia Paints’ Output, Sales Volume, and Inventory, 2011-2014
R&D Costs and % of Total Revenue of Sanxia Paints, 2011-2014
Revenue and Net Income of Sanxia Paints, 2014-2018E
Zhanchen Paints’ Subsidiaries
Zhanchen Paints’ Major Products and Production Scale
Total Assets, Total Liabilities, Revenue and Net Income of Shenglibang Paint Industry, 2013-2014
Capacity of Shenglibang Paint Industry by Product, 2014
China’s Coating Output, 2014-2018E
Market Size of China’s Coating Industry, 2014-2018E
Output and YoY Growth of China’s Water-based Coating and % of Total Coatings, 2014-2018E
Market Size and YoY Growth of Water-based Coating in China, 2014-2018E
Revenue of Major Chinese Water-based Coating Enterprises, 2010-2015
Net Income of Major Chinese Water-based Coating Enterprises, 2010-2015
Net Profit Margin of Major Chinese Water-based Coating Enterprises, 2010-2015
Gross Margin of Major Chinese Water-based Coating Enterprises, 2010-2015


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