HZ info， In December 2025, Jotun COSCOQingdao plant achieved a critical breakthrough, with annual production historically reaching 100 million liters—a sharp 32% increase year-on-year. Starting from 50 million liters in 2019, the plant doubled its capacity in just five years. This milestone not only marks a new level in the  production capabilities but also signals a systemic leap in its integrated strengths in capacity planning, technological innovation, and systematic management, laying a more solid foundation for continuously leading the market and deepening its service to the shipbuilding industries in China and globally.

To seize market opportunities, JotunCOSCO began the phased expansion of its Qingdao plant in 2024. Phase I of the project was completed and put into operation in August 2025, adding 40 million liters of annual production capacity and directly driving this leap in output. According to the plan, Phase II is expected to be completed in November 2027, adding another 40 million liters of annual capacity. Upon full completion, the Qingdao plant's total design capacity will reach 160 million liters (approximately 212.4 thousand tons). The new capacity will focus on producing seven major categories of high-performance marine coatings, including acrylic, epoxy, and polyurethane resin types.

As a core production base, JotunCOSCOQingdaowas established in 2009 and currently employs nearly 200 staff. It has received authoritative certifications such as National Green Factory, one of Shandong Province's first key monitored chemical sites, and Grade II Enterprise for Work Safety Standardization. The plant is part ofJotun COSCO Marine Coatings (HK) Limited,a joint venture between COSCO SHIPPING International and Jotun A/S, each holding a 50% stake, and currently employs nearly 700 people worldwide.

The company's overall business performance has also maintained steady growth. In 2024,Jotun COSCO total marine coatings sales reached 123.7 million liters (approximately 166.9 thousand tons), up 13% year-on-year. Sales revenue hit a record high of HKD 4.2359 billion, with net profit rising 24.13% year-on-year. This growth momentum continued into the first half of 2025, with sales reaching 69.186 million liters (approximately 93.4 thousand tons), up 19% year-on-year. Among these, newbuilding coatings performed notably well, with sales reaching 48.719 million liters.

Currently, China's marine coatings market is developing rapidly alongside the booming shipbuilding industry. According to data from iBuychem Research Institute, the market size surged from RMB 8 billion in 2020 to RMB 15.7 billion in 2024, with an average annual growth rate of 20.3%—far exceeding the global level. Demand in 2024 is estimated to reach about 1.08 million tons, showing strong growth momentum.