On December 2nd, the modern industrial chain is like a giant with multiple links, and any link that is hit will sooner or later affect the entire body. Since the outbreak of the global financial crisis, the chemical industry has felt a chill gradually spreading from nerve endings to the entire body. Several important downstream customers in the paint industry, including the automotive industry, shipbuilding industry, and real estate industry, have all been severely affected by the financial storm. The real estate industry is one of the key areas of national macroeconomic regulation, and building coatings, decorative wood coatings, and other products are dependent on the real estate industry. Therefore, the slump in the real estate market directly affects the paint market. The impact of the financial crisis on the real estate industry is evident, with housing prices in major cities such as Beijing and Shanghai experiencing their first rise and fall in recent years. For large paint companies and multinational chemical giants, opportunities and challenges coexist. For small and medium-sized coating companies that are hitting the market with low prices, their livelihoods are difficult.

Let's talk about the automotive industry again. On the evening of November 19th, BASF, the world's largest chemical company, announced for the second time that it had lowered its annual profit forecast and stated that due to the severe deterioration of the automotive industry, the number of orders had significantly decreased, and the company would close approximately 80 factories. Dr. Juergen Hambrecht, CEO of BASF, stated that, Starting from the end of October this year, we have noticed the fact that the macroeconomic situation is becoming increasingly difficult. Since then, consumer demand in some key markets has severely shrunk. The decline in consumer demand in the automotive industry is particularly severe, with many automotive companies canceling orders in a short period of time. This statement clarifies the serious impact of the downturn in the automotive industry on the chemical industry.

The financial crisis has impacted global trade, and the shipping industry is also facing financing difficulties. The global shipping industry has shown a significant decline in traffic volume. According to statistics, the global shipping industry had a total of 37 orders for container ships, oil tankers, and other vessels in October, far lower than the 378 orders in the same period last year, and the order volume plummeted by 90%. Due to the decrease in new ship orders, the sales volume of ship coatings will also show a downward trend in the future, and the impact on the ship coatings market will be reflected in the near future, with a significant decrease in demand.

The global financial crisis, which has already begun but not yet ended, has penetrated into important downstream customers in various paint industries. How to cope with the "economic winter" is a question that every enterprise manager needs to carefully consider.