Favored by many factors, my country’s water-based coatings market continues to expand

Water-based coatings refer to coatings in which most of the volatile substances in the formula are water, using water as the dispersion medium. Compared with traditional coatings, they have simple cleaning and coating methods, are green and environmentally friendly, have strong film-forming properties, good stability, and high hardness. High, low volatility, high safety, good anti-corrosion, strong adhesion, low cost and other advantages, it is widely used in 3C, furniture, real estate, construction, medical, chemical, light industry, automobile manufacturing, machinery manufacturing and other fields.

Water-based paints can be divided into three categories: water-dilutable paints, water-soluble paints, and water-dispersible paints according to different chemical properties; according to different main ingredients, they can be divided into water-based fluorocarbon paints, water-based epoxy resin paints, water-based acrylate paints, and water-based paints. There are seven categories: polyurethane coatings, water-based alkyd resin coatings, water-based silicone coatings and water-based inorganic coatings.

According to the “China Waterborne Coatings Industry Market Monitoring and Future Development Prospects Research Report 2023-2027” released by the Industrial Research Center, Commonly used paints are divided into water-based paints and solvent-based paints. Solvent-based paints contain benzene, formaldehyde, volatile organic compounds, and heavy metals such as lead and mercury, which can cause great harm to the global environment and human health. Among them, volatile organic compounds produce harmful substances and are one of the main causes of PM2.5 and one of the main pollution sources in cities.

Therefore, water-based coatings have become the mainstream choice in the market. Under the background of “double carbon”, in order to promote my country’s pollution control work and vigorously develop low-emission/degradable products, our government has successively launched the “Opinions on Deepening the Green Development of Industry in the Yellow River Basin”, “The 14th Five-Year Plan” Energy Saving and Reduction Comprehensive Emission Work Plan”, “New Pollutant Control Action Plan” and other documents. With favorable policies, my country’s water-based coatings have broad prospects for development.

In recent years, my country’s water-based coatings have developed rapidly and the industry is booming. On the one hand, as residents’ health awareness and environmental awareness gradually increase, Chinese consumers are paying more attention to product ingredients and other aspects when purchasing paints, and the market demand for green and environmentally friendly water-based paints continues to rise. On the other hand, with the deepening of urbanization in our country, the rapid development of old city reconstruction, new infrastructure construction, new urbanization construction and other fields has driven the development of water-based coatings. Against this background, the scale of my country’s water-based coatings market continues to expand, reaching 7.53 billion yuan in 2022.

Industrial analysts said that from the perspective of water-based coating applications in my country, construction and industry are the main application areas of water-based coatings in my country, accounting for more than 50% of the market share. At present, my country’s water-based coatings market is mainly occupied by foreign companies such as Nippon Paint of Japan, Nippon Paint of the United States, BASF of Germany, Dulux of the Netherlands, and PPG of the United States, and local companies such as 3TREES, Guangzhou Meitus, and Carbaoli Chemical. There are many water-based coating manufacturers in my country, mainly distributed in Central and South China, East China, Southwest China and other regions. Among them, East China is the largest production area of ​​water-based coatings in my country.