Automotive Coating Occupying Largest Share in Industrial Paint Market

Growth in automobile sector is boosting the demand for industrial paint in the country, says RNCOS.


Noida, UP -- (SBWIRE) -- 11/20/2014 -- In recent years, the industrial paint market is growing at a high rate backed by gradual boost in the demand for automobiles. The growth in car ownership per head of population and increasing levels of consumer spending are few of the reasons leading to an overall booming automobile sector. The level of competition in the automotive industry is intense and consolidation has resulted in an increase in larger groups competing to supply the market. Also, the increasing importance of the region as a car manufacturing centre will ensure continued growth at a comparatively faster pace than the markets in Europe and North America for the next ten years.

According to our report “India Paint Industry Outlook 2018”, high growth in the construction, spurt in the automobile manufacturing & sales, and increase in investment in the infrastructure sector are expected to create an increased demand for industrial paints in near future. The automotive coatings are resistant to high stresses, like rain and UV radiation, heat and cold, gravel from the road and the brush strokes at the car wash, thus becoming an integral part of the automobiles. Hence, increasing population, more affordability and various initiatives at the player’s end to propel the automobile sales, will further increase the market size of automotive coating in the coming years.

The report “India Paint Industry Outlook 2018”, covers the current and future market forecast for the Indian paint industry in India. The report provides future forecasts for the decorative and the industrial paint market along with their segments till 2017-18. Further, forecasts till 2017-18 for decorative paints market by application areas, region, tier cities, and product class which includes premium paints, mid-tier paints and economy paints have also been provided. Additionally, emulsion, enamel and distemper paint market forecast till 2017-18 by region, tier cities, and volume are also covered.

Besides, market forecast for sub-segments of decorative paints have also been provided. The report also sheds light on the current & future scenario of the raw materials used in paints like pigments, solvents, additives and binders. In addition, the report covers a section on the trends prevailing in the industry and roadblocks to the industry. Further, a competitive landscape covering business overview, product portfolio, major brands, key financials, and recent activities of major players in the paint industry have also been covered.

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.