Domestic enterprises gradually break through the m

2022-08-10
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In the $100 billion coating market, domestic enterprises gradually break through the $100 billion coating market, and domestic enterprises gradually break through the

September 25, 2018

[Abstract] coatings are widely used in construction, transportation, home furnishing and other industries. In 2017, the global output was 71.44 million tons, the output value was about $192.9 billion, and the domestic output was 20.36 million tons, the output value was about $64 billion. It is expected that the domestic coating market will maintain an overall growth rate of 7% in the coming years, and the market scale is expected to reach 25million tons in 2020. PPG, Xuanwei and other important global enterprises have revenues of more than 10 billion US dollars and profits of more than 1billion

in recent years, the number of domestic coating listed companies has increased, and the integration of industry and capital has accelerated. At present, Shandong Sida high-tech machinery equipment Co., Ltd. is a coating enterprise specializing in the production of tensile testing machines in subdivisions, such as Dongfang Yuhong (waterproof coating) and sankeshu (wall coating). By constantly expanding the mode of environmental protection and high-performance products as well as the integration of products and services, it has gradually established scale and brand influence. On the other hand, the domestic chemical dragon, represented by Wanhua chemical, whose failure cycle is greater than 5x104, is called high cycle fatigue test head. By cutting into the upstream links of the industrial chain (such as resin), it gradually extends to the terminal, and is expected to become an important new force in the domestic coating industry in the future; In addition, powerful new materials (UV-LED light curing resin), kuncai Technology (pearlescent pigment) and other companies are also enterprises with characteristics in the field of segmented functional materials

a broad market of $100 billion

coatings are widely used in construction, transportation, home furnishing and other industries. In 2017, the global output was 71.44 million tons, with an output value of about $192.9 billion, and the domestic output was 20.36 million tons, with an output value of about $64 billion. It is expected that the domestic coating market will maintain an overall growth rate of 7% in the coming years, and the market scale is expected to reach 25million tons in 2020. PPG, Xuanwei and other important enterprises in the world have revenues of more than US $10 billion and profits of more than US $1 billion

the development prospect of environmental friendly coatings is good

the difference between environmental friendly coatings is that the materials include water-based coatings, powder coatings, solvent-free coatings, UV curing coatings, etc. at present, domestic solvent-based coatings account for 52%, and we believe that the share of environmental friendly coatings can be increased greatly; In terms of areas, about 80% of architectural coatings have used water-based emulsion paint. Wood and building materials have high requirements on the functionality of coatings, which are still solvent based products, with growth potential. At the same time, 80% of some high-end fields such as anti-corrosion coatings and automotive coatings are occupied by foreign enterprises, and there is a wide space for import substitution

some important raw materials in the industrial chain depend on imports

since 2016, the price of upstream raw materials has generally risen, and the profitability of the coating industry. Ordinary cars should choose electronic material change testing machines that meet the following requirements, which will decline. Among the main raw materials, acrylic resin (raw material of water-based coatings) and epoxy resin are imported in large quantities. The pigment and filler market is dominated by structural adjustment. Some functional products (such as UV curing resin and pearlescent filler) grow rapidly, and some additives (including emulsifiers, rheological additives, defoamers, dispersants, lubricants and wear-resistant agents) still rely on foreign enterprises for supply

products and channels are the core of competition

coatings have certain consumer product attributes, and the industry concentration is low. In 2017, the global Cr4 accounted for less than 30%, and CR8 accounted for less than 40%; In the same year, there were 2057 domestic coating enterprises above Designated Size, with Cr4 of about 11.4%, CR8 of about 15%, and CR100 of less than 40%, with a higher degree of dispersion; In 2017, the income of Chinese enterprises accounted for 71.6%, but the top ten enterprises in production and sales were mainly foreign-funded or foreign-funded enterprises, and the top ten local enterprises in sales were only Dongfang Yuhong and Jiabaoli. Combined with the growth paths of giants PPG, Xuanwei and Nippon, we believe that products and channels (sales and services) are the main competitive factors in the industry. At the same time, timely mergers and acquisitions also provide a good opportunity for leading enterprises to develop by leaps and bounds

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