The Chinese Coatings Market
It would be difficult
to discuss the
Chinese paint and
coatings market
without mentioning
the Chinese
economy. That
vibrant, herculean
economy is the
heart and soul of
the emergence of
China onto the
global scene in
recent years.
by Dan Watson
China Correspondent
watsoncw@rodpub.com
While the U.S. and the European Union (EU) are struggling to grow in the wake of the worst economic crisis in
decades, China has continued to climb up the
economic league tables by investing heavily in
infrastructure and backing a $586 billion stim-
ulus plan. This year, although growth has begun
to moderate a bit, China’s economy is forecast
to expand approximately 10 percent. This re-
markable growth rate continues a three-decade
streak of double-digit growth. After three
decades of spectacular growth, China passed
Japan in the second quarter of this year. The
economy of the People's Republic of China is
the world's second largest after the U.S., with a
nominal gross domestic product (GDP) of $4.99
trillion in 2009. In the midst of a global financial
meltdown, China is still the world's fastest-
growing major economy, with an average
growth rate of 10 percent for the past 30 years.
The country's per capita income was at either
$6,567 (IMF, 98th) or $6,675 (World Bank,
92nd) in 2009. China is the second largest trad-
ing nation in the world and the largest exporter
and second largest importer of goods. Experts
say unseating Japan and in recent years passing
Germany, France and Great Britain, underscores
China’s growing clout and bolsters forecasts
that China will pass the U.S. as the world’s
biggest economy as early as 2030. America’s
GDP was approximately $14 trillion in 2009.
China’s Enormous
Coatings & Ink Industry
China is the world’s second largest producer and
consumer of coatings, and the fourth for ink pro-
18 | Coatings World
www.coatingsworld.com
January 2011
