Exhibit to Enhance Growth Momentum
Asia Is Still the World's Fastest-Growing and Most Dynamic Region
- Asia and China's GDP growth is projected to grow by 4.2% and 4.6% respectively in 2024. Both figures are ahead of the global growth forecast of 2.7% and account for the bulk of global growth. India, Indonesia, Thailand, Vietnam and Malaysia are the top 5 Asian emerging economies excluding China, creating high-growth opportunities together.
Asia Pacific Continues to Dominate Global Market Share
- High GDP, ever-rising population, increasing infrastructure spending, rapid urbanization and industrialization, surging disposable incomes, and growing usage of surface treatment chemicals and technologies among end-user industry segments in Asia Pacific countries like China and India, have been positively stimulating market demand. Going forward, Asia Pacific market is expected to grow at above global average rates.
Accelerating Growth of End-User Industries Drives Market Demand
- End-user industries, such as architectural, automotive, furniture, home appliances, shipbuilding and transportation are expected to grow at an average CAGR of 6% during 2022-2027. China is the world's largest electric vehicle market and electronics manufacturing hub. In addition, China's international shipbuilding market share has ranked first in the world for 13 consecutive years. All these come together will continue to lead the growth of Asia-Pacific market demand.
Guangdong-Hong Kong-Macao Greater Bay Area (GBA) Is the World's Fastest Growing Bay Area
- With China being the world's largest manufacturing country, GBA ranks fifth globally in manufacturing value-added. GBA's GDP growth is forecast to reach 4.8% in 2023, exceeding other bay areas around the world. GBA has a strong manufacturing base particularly for electronics, electrical machinery and equipment, and automobile, bringing business opportunities to the industry.
SFCHINA Platform Provides Industry with Competitive Edges
- For businesses to stand out from others, product / technology innovation and differentiation are essential to meet customers' satisfaction. Trade exhibitions have been proven to be an effective marketing tool for raising brand awareness and promoting new products. SFCHINA series of exhibition serves as a strategic platform for exhibitors to highlight product benefits and sustain business growth.
Find Market Niches and Opportunities for Robust Growth
- Asia is the largest and fastest growing surface finishing market, with China accounting for the largest share, followed by Japan and India.
- China is anticipating to post a 6.4% GDP growth for year 2018, while India is projected to be the fastest growing economy in Asia at 7.3%. The overall 2019 GDP growth within Asia is estimated at 6%. These figures show that Asia remains the key driver for global economic growth.
- As the demand for customized surface finishing technology is increasing in industries like automotive, transportation and aerospace, the industry continues to develop cutting-edge technologies to meet the needs of users, thus providing opportunities for continuous growth.
Grasp Business Potential in The Yangtze River Delta (YRD) Region
- The scale of YRD city cluster was expanded from 16 cities to 26 cities in 2016. It is now the largest city cluster in China and the sixth-largest in the world. In the first half of 2018, its GDP growth was 7.2%, higher than the national average of 6.8%.
- The YRD region is the manufacturing engine for industries like construct ion, home appliances, automobiles, machinery manufacturing, transportation, containers, etc. Surface finishing is an inseparable process of these industries, thereby maintaining a huge and sustainable demand.
- Growing YRD economy broadens sur face finishing applications across different industries. Coupled with rising purchasing power of the consumer market, these factors continue to propel the growth of the finishing industry in the YRD region.
Direct and Effective Marketing to Cope with Changing Conditions
- Surface finishing market is forecasted to witness significant growth owing to rapid development of manufacturing industries, increasing infrastructure spending and thriving middle class in the Asia-Pacific region.
- Rising disposable incomes and urbanization are driving demand for surface finishing in automotive and auto parts, electrical and electronics, machining and furniture applications.
- Green production is regarded as a way to stimulate manufacturing sector in sophistication, profitability and sustainability. The demand for environmentally friendly, energy-saving and streamlined surface finishing technology is increasing.
- As more countries are moving towards industrialization and addressing occupational safety at workplace, the demand for personal protective equipment and safer surface finishing technology is growing, bringing new opportunities to the industry.