Chinese architectural coating market will maintain its stable growth in the near future, due to the country’s ongoing urbanization as well as the huge floor space of existing buildings needing refurbishing. Functional coatings provide a way to overcome the undifferentiated and fragmented nature of the coatings segment to earn higher profit margins. We expect insulating, solar reflective, and photocatalytic coatings to grow significantly because of their low current market penetration, wide applicability to all kinds of buildings, potential to improve building efficiency and indoor environment, and supportive government policies. Insulation coatings present a better opportunity in regions with harsh winters, such as Heilongjiang, whereas solar reflective coating should target regions with high cooling energy demand, such as Guangdong, and photocatalytic coating should focus on regions with serious air pollution and high air-quality improvement targets, such as Hebei.
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