South African Buyer: Virenix

Asia-Pacific, Europe and North America are the leading continents that dominate the coating world, as the top 10 enterprises in the coating industries are all sited there. Output of coatings in Asia-Pacific has witnessed a great increase in recent years. Asia has transferred into a strong role in the global manufacturing industry, which leads to a result that Asia-Pacific ranks the largest area to produce coatings. Statistics showed that from 2012 to 2014, the coatings output in Asia-Pacific accounted for 42%, 48% and 47% respectively. As coatings output of China and India continued increasing in recent years, China and India have become the business core of the coating industry. It is expected that the global coatings demand will increase by 3.7% annually. It will reach 54,700,000 MT in 2020, with the total market value of $193 Billion.

Buyers and Sellers were Communicating with Each Other

Buyers and Sellers were Communicating with Each Other

Buyers and Sellers were Communicating with Each Other

　　The Chinese coatings market is developing rapidly. A South African buyer Virenix shows great interest to the Chinese coatings market. In the ECHEMI Global Coating Forum&Procurement Conference, Virenix has communicated with many suppliers and reached cooperation intention. ECHEMI will keep providing services for buyers and suppliers, covering all the aspects of the transaction process, and facilitating the transactions.

Now, China has become the largest producer of coatings in the global market. According to data from National Bureau of Statistics of the People’s Republic of China and China National Coating Industry Association, the Chinese coatings output reached up to 18,997.8KT in 2016, increased by 7.2% year on year; the total revenue were ￥435.45 Billion, increased by 5.6% year on year. The Chinese Coatings Industry has experienced the golden 10 years of development. According to the increasing rate year on year, the increase of the Chinese Coatings industry output and the total revenue has slowed down in the recent years. It has entered the phase of medium-low increase, and shown the trend of stabilizing.