The growth trend of automotive coatings and the overall growth of the automotive market, as well as the increase in the number of supporting production lines, are directly related. Under the new situation, there is still significant room for growth in the automotive market. According to data statistics, the total number of automobiles in China reached 430 million in September 2023, an increase of 110 million from the end of December 2022. From the perspective of car ownership per thousand people, China's car ownership per thousand people has increased from 89 in 2012 to 226 in 2022, exceeding the world average but still significantly lower than developed countries. At present, the overall number of cars per thousand people in developed countries is at the level of 500-800, which is still 2-4 times that of China, indicating that there is still significant room for growth in the number of cars per thousand people in China

The growth trend of automotive coatings and the overall growth of the automotive market, as well as the increase in the number of supporting production lines, are directly related. Under the new situation, there is still significant room for growth in the automotive market. According to data statistics, the total number of automobiles in China reached 430 million in September 2023, an increase of 110 million from the end of December 2022. From the perspective of car ownership per thousand people, China's car ownership per thousand people has increased from 89 in 2012 to 226 in 2022, exceeding the world average but still significantly lower than developed countries. At present, the overall number of cars per thousand people in developed countries is at the level of 500-800, which is still 2-4 times that of China, indicating that there is still significant room for growth in the number of cars per thousand people in China

As the world's largest automotive market, China has attracted numerous multinational paint companies to enter and compete in the domestic automotive paint market, with foreign brands accounting for more than half of the market share

In the field of original factory paint, domestic enterprises continue to enhance their independent innovation capabilities and break the technological monopoly pattern overseas. With the rapid development of China's new energy vehicle industry, more and more domestic car companies are choosing to cooperate with domestic paint companies to jointly break the technological monopoly of overseas paint companies and create a new chapter in the industry's development

In the field of automotive parts paint and coatings, enterprises have shown a strong upward trend. The direct customers of these enterprises mainly include automobile OEMs and first tier suppliers, whose products are mainly used for spraying the surface of interior and exterior parts of new cars. Although foreign brands from Europe, America, Japan, and South Korea have significant market advantages in this industry, as China's automotive industry enters a stable period, the cost pressure faced by automobile manufacturers gradually increases, and the demand for cost reduction is transmitted layer by layer

In this context, domestic coating companies are gradually demonstrating stronger competitiveness in key areas such as localization of research and development, localization of supply, and rapid response. The market share is gradually increasing. According to its prospectus and official website information, the company has various products such as PVD coatings for passenger cars, UV silicone touch coatings for passenger car interior parts, and anti fog coatings for passenger car headlights. It has also established cooperative relationships with car companies such as Geely, GAC, SAIC GM Wuling, and BYD

In the field of automotive repair paint, outstanding performance has emerged. Due to the high technological content, strict factory certification standards, limited quota, complex non-standard service management, and brand influence on consumer choices in the repair paint industry, foreign brands still dominate the market. According to the announcement, the Chinese automotive aftermarket paint market has formed a unique "5+3+2+1" pattern: five major European and American brands, three Japanese brands, two Korean brands, and one domestic brand. Among these nine foreign brands, China's technology stands out as the only representative of China. It is worth mentioning that the technology has obtained the repair paint certification of most global automobile manufacturers, demonstrating its strong competitiveness in the domestic market and international development potential

In the post pandemic era, China's automobile production and operation still have strong support. From 2023 to 2025, automobile consumption remains one of the important areas for expanding domestic demand and stabilizing the economy, especially with the explosive growth of new energy vehicles in the past two years. The competitiveness of Chinese brand markets continues to strengthen, and the number of cars owned and exported continues to rise. At the same time, more and more car companies are willing to choose domestic coating enterprises, which in turn drives domestic coating enterprises to continue to progress and gain more market share