Chan Ye Xin Xi Wang·2026-02-27 01:26Industry Overview - The Chinese atom gray industry is transitioning from traditional "quantity increase" to modern "quality improvement" [1] - In 2024, the market size of the atom gray industry in China is expected to be approximately 1.201 billion yuan, representing a year-on-year growth of 5.81% [1][6] - The industry primarily serves sectors such as automotive, shipbuilding, furniture, construction, and high-end equipment manufacturing, with its performance closely linked to macro fixed asset investment and manufacturing activity [1][6] Market Dynamics - The growth of the atom gray industry is shifting from a broad-based increase to being driven by emerging high-end manufacturing sectors such as new energy vehicles, rail transit (e.g., high-speed rail), and new energy equipment (e.g., wind turbine blades) [1][6] - These sectors demand specialized properties from atom gray, including weather resistance, adhesion, and environmental friendliness, which are significantly higher than traditional applications [1] Industry Chain - The upstream of the atom gray industry includes raw materials such as unsaturated polyester resin, epoxy resin, polyurethane resin, and various fillers [3] - The midstream involves the production and manufacturing of atom gray, while the downstream applications span automotive, shipbuilding, furniture, construction engineering, and industrial equipment [3] Key Enterprises - The market concentration in the atom gray industry is relatively low, with companies like Hubei Huitian New Materials Co., Ltd. and Hebei Xindun Composite Materials Co., Ltd. leading in innovation and market share [7][9] - Huitian New Materials reported a revenue of 3.285 billion yuan in the first three quarters of 2025, a year-on-year increase of 8.49%, with a net profit of 216 million yuan, up 32.38% [9] Development Trends 1. Market demand is shifting from "general" to "high-end and customized," with the automotive manufacturing sector being the primary downstream market [10] 2. Environmental requirements are increasing, leading to a focus on "environmental and functional" product upgrades, with a shift towards low-VOC and water-based products [10] 3. Industry competition is evolving towards "deep service" and "industry chain integration," enhancing core competitiveness through timely technical support and broad service networks [11][12]