Strong performance in downstream industries has fueled 13.4% annualized growth in the China paint manufacturing market in China over the five years through 2013. In 2013, industry revenue is set to grow 11.0% to reach $52.2 billion. Offsetting strengthened macro-controls on China's real estate market is increasing demand from the construction of indemnificatory and low-rent houses and old house renovation.
Weakening international markets due to the European debt crisis and the appreciation of the yuan have led to a slowdown in exports and imports. Over the five years through 2013, export values fell 2.6% per year on average, and import values fell at an annualized rate of 1.9%.
The development of the Paint Manufacturing industry is largely dependent on demand from the Automobile Manufacturing (IBISWorld industry report 3721) industry and China's real estate sector. The Chinese government has been implementing strict macro-controls on the real estate market and the construction of indemnificatory and low-rent housing is speeding up, which is driving demand for architectural paint. Increasing urbanization is also supporting the development of the real estate markets in China's medium-sized and small cities, which is increasing industry demand. Meanwhile, strong double-digit growth in the Automobile Manufacturing industry has been boosting sales of automotive paint.
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