Acrylic-based waterborne coatings make up approximately 90 percent of demand in the market and are being widely used in architectural applications, where consumers are willing to pay a premium for low toxicity paints, and the automotive sector, which is traditionally a key source of acrylic-based coatings demand, the report says.
The Chinese government is stepping up its restrictions on coatings with a high volatile organic compound (VOC) content. This is currently being enforced in consumer facing industries first and is expected to spread to industrial markets in the near future.
In real terms the market grew by approximately 11 percent in 2010, the report says. Continued adoption, by regulatory-push or quality-pull, will see five year growth continue at this rate.
This GCiS market study draws on a three-month primary survey of over 70 of the market's supply side and downstream players. Major areas covered include: market size and shares, five-year projections, market structure, value chains, pricing trends, distribution, consumption and an assessment of key suppliers.