BAODING, China, Jan. 11, 2017 /PRNewswire/ -- Recently, China's first Environmental Protection Taxation Law has been adopted. Affected by the news and the accelerated governance of smog in China, the paint industry in China plans to upgrade its environmental protection goal of "replacing oil paint with waterborne paint" to the level of that in developed countries in Europe and America.
As China's economy speeds up its transformation for green development, Chinese domestic waterborne paint companies are learning from western countries, to prepare for the upcoming blowout in this market.
Chenyang Waterborne Paint, the largest waterborne paint producer in China, is receiving increasing orders from online sales platforms and its 2000 franchised stores across the country in the start of this year, a growth rarely seen in an off-season for paint sales.
With improved public consumption, the 1.3 billion Chinese people are turning to "green consumption", forcing China's paint market to expedite its green upgrade.
Liu Zhanchuan, executive vice president of Chenyang Waterborne Paint, said that China's environment-friendly paint would see broad growth space, as it takes less than 10% of the market share in China's paint market, while the waterborne paint utilization rate in developed countries in Europe and America is over 80%.
Meanwhile, for China's waterborne paint industry, good news not only comes from a natural growth in the market, but also from a positive policy stimulus of "conserving energy and reducing emission".
For environmental protection, China's government has listed waterborne paint as a major supporting area for "Made in China 2025" strategy.
Insiders predict based on experience in developed countries that, an explosive growth will probably been seen in China's waterborne paint market in 2017. And Chinese companies are preparing for this growth.
As a Chinese domestic brand specializing in waterborne paint production, research and development for 19 years, Chenyang Waterborne Paint has not only quickened its overall layout in domestic market, but also kept pace with the international technical level.
It is reported that Chenyang Waterborne Paint has passed three international environmental protection testing certifications including WRAS of the U.K., TUV of Germany and SGS of the European Union. It is now making preparations for setting up a new research and development center in Germany.
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SOURCE Chenyang Waterborne Paint