Market Size of China Protective Coatings Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Protective Coatings Market Analysis
China Protective Coatings Market was valued at USD 4200 million by the end of this year, and the market is projected to register a CAGR of over 4% during the forecast period.
COVID-19 negatively impacted the market in 2020. However, the market has now been estimated to have reached pre-pandemic levels and is forecasted to grow steadily.
- The driving factors that lead to market growth include initiatives and policies from the government to develop infrastructure and increase activities in the oil and gas sector. Increasing revenue generation from various industries such as plastics, pulp, and paper, among others, and a rising shift in focus towards sustainable coatings are the key market trends driving the market.
- With supply chain disruptions post-COVID-19 pandemic, raw material prices' fluctuation has hindered the protective coatings market.
- The growing options for bio-based coatings are further likely to provide opportunities for the studied market during the forecast period.
