Want to overtake? Don't overlook the market for building coatings outside of real estate!

The paint industry is a huge market, with a total scale exceeding that of the competitive landscape. In 2022, the top ten paint companies in terms of sales ranking are all foreign-funded enterprises, accounting for a total of 49% of the global paint market share. Nevertheless, the competitive landscape in this market is relatively dispersed, leaving huge growth opportunities for domestic paint companies.

Domestic paint companies need to further expand their market, improve brand awareness, strengthen technological innovation and product research and development, in order to enhance their competitiveness. In addition to enhancing our own strength, we also need to have the "eyes" to discover new tracks in development, after all, opportunities may be near us but we may overlook them.

The market for building coatings outside of real estate

Currently, there is a significant market demand for building scenarios such as large-scale infrastructure, urban renewal, schools, hospitals, hotels, factories, elderly care, and tourism. Although the real estate market has undergone a round of macroeconomic adjustments, the market will not continue to deteriorate and its future development will be healthier. At the same time, with the elimination of the COVID-19, excellent architectural coating enterprises have the opportunity to find their own survival opportunities in this huge construction market. Some institutions predict that the market space for building coatings in China will reach over 170 billion yuan in the medium to long term. Therefore, excellent architectural coating enterprises need to seize market opportunities, continuously improve product quality and service level, in order to stand out in fierce market competition.

Improving paint performance through innovation is the main task

As mentioned earlier, the importance of strengthening technological innovation and product research and development is crucial for the construction coatings industry. The transformation, upgrading, and high-quality green development of the industry all require innovation as the foundation. Our goal is not only to improve the performance of building coatings, increase their functionality, and enhance their environmental friendliness, but more importantly, to reduce costs, better meet the needs of building decoration, and ensure the healthy development of the industry.

At present, architectural coating products are continuously developing from monochromatic flat coating to colorful, textured, functional, and environmentally friendly directions. According to the planning information released by the China Coatings Industry Association, during the "14th Five Year Plan" period, the development of architectural coatings technology mainly focuses on the application research of silica aerogel in architectural coatings, the progress of stability and mass production of water-based multicolor coatings, the color matching and expanded application of reflective and thermal insulation coatings, the research of room temperature self crosslinking architectural coatings, and the research of inorganic organic composite architectural coatings.

We are committed to improving the performance of building coatings, increasing their functionality, and making them more environmentally friendly through multi technology integration and innovation. We believe that only continuous innovation can promote the sustainable development of the construction paint industry and meet the society's pursuit of a better living environment.

In the coming years, the construction paint industry will still face many challenges. However, the phenomenon of product homogenization in the construction coating industry is still quite serious, and price wars are still the main means for major enterprises to compete for the market. However, as the saying goes, "the road is difficult, but where there is a road, there will be people, and where there are people, there will eventually be a road." This is precisely where the difficulties and opportunities faced by the construction paint industry lie. Therefore, in this fiercely competitive market, enterprises need to constantly innovate, improve product quality and service level in order to stand invincible in the competition.