How is China's TMP industry positioned globally in terms of capacity and technology?

How is China's TMP industry positioned globally in terms of capacity and technology?
China's TMP industry has grown rapidly but started later than Western counterparts. By 2023, domestic capacity reached 185,000 tons/year, with key players including Jiangsu Baichuan, Hubei Yihua, Guizhou Zhongyida, Shandong Fufeng Perstorp, and Jiangxi Gaoxin. While the US, Europe, and Japan lead in production technology and downstream application development, China is closing the gap through increased R&D investment. Chinese producers now achieve higher purity and better quality stability, enabling broader use in UV coatings and alkyd resins. Demand growth is driven by Asia's expanding alkyd resin and polyurethane sectors, with China representing the largest growth market. The industry remains fairly concentrated, with top producers holding significant market share, though capacity expansion continues to meet rising domestic and export demand.