Architectural Functional Coatings Made Up 8% of the 4.64-Million-Ton Chinese Architectural Coating Market in 2013, Lux Research Says
BOSTON, MA--(Marketwired - May 13, 2014) - China's architectural coatings market nearly doubled to 4.64 million tons between 2008 and 2013, and will sustain its growth as the rising Asian giant maintains its rapid pace of urbanization. However, the fastest growth and the highest profits are found in the functional coatings segment which accounts for about 8% of the architectural coatings market, according to Lux Research.
Three major types of architectural functional coatings -- insulating, solar reflective, and photocatalytic coatings -- form the most lucrative segments due to their wide feasibility in all building types and early commercialization status.
"More important, these three types of architectural functional coatings have high growth potential because their adoption is aligned with the policies of the Chinese government to improve building sustainability and efficiency," said Jerrold Wang, Lux Research Associate and the lead author of the report titled, "Exploring Chinese Architectural Functional Coating Market: Identifying High-Growth Provinces."
"Insulating coatings present a better opportunity in regions with harsh winters such as Heilongjiang, while solar reflective coatings should target regions with high cooling energy demand, such as Guangdong. Photocatalytic coatings should focus on regions with serious air pollution and high air-quality improvement targets," he added.
Lux Research analysts evaluated China's architectural coating market, identifying overall growth drivers and specific opportunities in high-growth provinces. Among their findings:
The report, titled "Exploring Chinese Architectural Functional Coating Market: Identifying High-Growth Provinces," is part of the Lux Research China Innovation Intelligence service.
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