Eastman Chemical brings new product to China

The Tennessee-based Eastman Chemical Co has upgraded one of its paint-protection film products with more tailor-made services in China.

Paint-protection film is an after-care product in the automotive sector that allows car owners to protect the paintwork on their vehicles.

Eastman said its new product, V-KOOL Monogram, will add impetus to the concept of "product plus service" in the car after-care market.

According to data published by Beijing's China Association of Automobile Manufacturers, 28.08 million motor vehicles were sold in China in 2018.

Despite a slight decline in the number of passenger vehicles sold, the growth of China's car after-care market did not show any sign of slowing because of the already significant number of car owners.

After decades of rapid development, China's auto market has now gradually turned into a stock market of sorts.

Car owners nowadays have a far better understanding of various automobile models, their features and technologies, and exercise better care than before, said Zhao Ying, a researcher at the Institute of Industrial Economics, which is part of the Chinese Academy of Social Sciences in Beijing.

Boosted by high demand for high-end and electric vehicles, the used-car segment, car accessory and new vehicle markets will see stable growth in the long term, he said.