Mr. Xie Yu, Chairman of CAAM Modification Branch, at RTC Color-Change TPU Launch

Distinguished leaders and guests,

Hello everyone! On behalf of the Modification Branch of the China Association of Automobile Manufacturers (CAAM), I would like to extend my congratulations on the launch of RTC’s color-change TPU.

As of last year, China’s vehicle ownership has exceeded 330 million, with annual production and sales of new vehicles surpassing 34 million. More than 30 million families have entered the era of owning a second vehicle, and automotive culture has been rapidly emerging in recent years.

Here is some good news: after the issuance of policies supporting the automotive aftermarket by nine ministries in 2024, six ministries this year have included vehicle modification in national consumption promotion policies. Sixteen modification items have been legalized, and the State Council has proposed exploring tiered and classified management.

Vehicle paint color-change is one of the most important segments of automotive modification, commanding a significant market share. With the relaxation of modification regulations, this market is expected to grow rapidly. Over the next five years, the adoption rate of color-change films is projected to increase from the current 1% to 5%, and the market size could expand 8–10 times its current level, with a compound annual growth rate exceeding 15%. By 2032, the entire modification industry is expected to surpass that of the United States, becoming the largest automotive culture market in the world, with output value exceeding 1 trillion RMB.

Currently, competition in the automotive film industry is fierce. From an industry-wide perspective, this period represents a transition from a rough, fragmented market to a mature one, and overall market trends remain upward. In such an environment, standing still means falling behind. We look forward to RTC working with the industry to strengthen product quality and establish standards, enabling China’s automotive modification market to truly “break boundaries” and move into a new era.

Finally, I wish RTC a smooth production launch and all guests prosperous business!

Thank you all!