The competition in the paint industry is intensifying, and the "Three Products Strategy" is enhancing "New Domestic Goods."
Release time:
2025-01-14
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Abstract
As the downward pressure on China's economy increases, the original drawbacks of some coating companies are becoming increasingly prominent. Since 2012, the entire coating industry has slowed down, entering a period of reshuffling. In 2014 and 2015, a large number of companies in the coating industry began to shrink, suspend production, or even go bankrupt. Factors such as slow market growth, rising production costs, and increased environmental protection requirements have made business operations very difficult. Currently, the Chinese coating industry is still in a stage of transformation and upgrading, and intensified market competition will further promote industry reshuffling and the survival of the fittest, while transformation and upgrading will continue.
From the perspective of supply-side reform, there are still several gaps to be filled in meeting market demand. First is the elderly market; the wave of aging population is unavoidable in our country. Due to the large elderly population, the market has gradually given rise to an important branch of elderly furniture coatings. Second is the children's market; the population under 15 years old in China accounts for 13.8% of the world's total and 19% of the national population, indicating the significant market space for the children's coating industry in China. Grasping the children's coating market may lead to the development of coating companies. Third is the post-80s and post-90s consumer groups; as time goes on, these groups are gradually starting families and emphasizing individuality and practicality, becoming the main consumer force in the coating market. Fourth is the poverty alleviation population; during the urbanization process, there are 70 million people who have been lifted out of poverty, along with the transformation of urban villages and shantytowns, creating a significant demand for economical home coatings among this group.
Thanks to the cost advantages of globalization, the scale advantages under the demographic dividend, and the institutional advantages from reforms, China has long been a veritable "manufacturing powerhouse". However, Chinese manufacturing has always been "large but not strong". The "smart toilet lid incident" that broke out early last year further put Chinese manufacturing in the spotlight, facing severe tests.
Industry insiders say that the "three products strategy" proposed by the state is aimed at recreating the competitive advantage of the manufacturing industry, and this strategy is currently being praised in the home coating industry.
The first is variety; with the change of times, a consumer-led market has arrived. The market structure is currently adjusting, and the variety is constantly increasing, including new materials and new designs, which are expanding the categories of coating products.
The second is quality; against the backdrop of supply-side reform, consumption upgrading forces companies to focus on quality. As a brand enterprise, it is even more necessary to improve its own quality to capture the market and enhance brand awareness.
The third is brand; many years ago, the industry began to pay attention to brands, but now many companies are gradually transforming their manufacturing brands into commercial and social brands, which is a very important stage.
Why have many people preferred to consume and shop abroad in recent years, favoring foreign brands? This is because there is indeed a certain gap in the quality and brand awareness of domestic products. Coating companies should not only ensure "quantity" growth but also be aware of potential risks, striving to strengthen domestic brands.
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