Market Trends of china architectural coatings Industry
This section covers the major market trends shaping the China Architectural Coatings Market according to our research experts:
Residential is the largest segment by Sub End User.
- The architectural coating consumption in China peaked in 2017 with an increment of 7.80% from the previous year’s total architectural coating consumption, due to the long-time recovery since 2015, and increase in investment in the residential building by 9.4% y-o-y in 2017. Furthermore, rise in sales of total floor space was also observed in 2017, for instance, floor space of commercial buildings sold was up by 7.7% y-o-y in 2017, while the floor space of residential buildings sold went up by 5.3%.
- The normal new housing starts growth was observed in 2018 and 2019, however from 2018 the downturn was observed due to the over rise in housing prices and declining country’s GDP.The slow growth in the architectural coating consumption in 2020 due to lower new constructions in both residential cand commercial sector owing to the spread of covid-19 in the country was recovered in 2021 due to stronger completion and the rise in Do-it-yourself segment which got popularity in 2020.
- The increase in consumption and sales is expected to grow in forecasted period due to the government initiatives such as revoking filing and mandatory testing requirements of imported paint and coatings in the country from march, 2022 grows the confidence of coating companies in the positive future of architectural coating in the country.
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