The Indian paint industry is anticipated to grow at a CAGR of 12% during the period 2014-15 to 2019-20, says RNCOS.
Noida, UP -- (SBWIRE) -- 08/27/2015 -- The rural market in India covers the maximum population and regions and thereby, the maximum number of consumers. With the rapid pace of technological improvement and increase in peoples buying capacity, now there is a continuous demand of housing and decorative paints even in the rural markets of India. One of the major boosts to the growth in the Indian paint market has been provided by the rural market in present days. Under the decorative segment, the emulsion paint market has witnessed a massive demand over the past few years and is expected to drive the market in the coming years too.
Rural consumers demand branded paint mainly because of increase in disposable income and literacy level. Rural families do not like to cut their expenditure on weddings, pilgrimages, constructions and consumptions. Rural consumers have more aspirations; this segment of buyers consumes large variety of coatings products, for their social ceremonies and festive occasions. On the backdrop of this rising demand from rural India paint industry in India is anticipated to grow at a CAGR of 12% during the period 2014-15 to 2019-20.
The report "India Paint Industry Outlook 2020", segregates paint industry into two types - Decorative and Industrial paints. The decorative paint market has been further segmented into emulsions, enamel and distemper paints. Similarly, the industrial paint market is also segmented into automotive coating, high performance coating, marine coating, powder coating and coil coating. Detailed historic and future perspective has been provided with all data forecasted till 2019-20.
The various types of decorative paints have been further analyzed to understand the market size and future potential of various sub-segments such as plastic emulsions, textured emulsions, synthetic enamels, acrylic distempers, etc. The report also classifies decorative paint market by product class which includes premium paints, mid-tier paints and economy paints.
Presently, the growth of the Indian paint industry is being witnessed from new demand pockets, especially in Tier-II and Tier-III cities, thus, signaling the growing acceptance of quality products among the masses. Our analysts have closely studied and provided market forecast till 2019-20 of all sub-segments and product class.
With the growth of paint industry, the market for raw material is also intensifying in India. A comprehensive analysis and forecasting till 2019-20 of raw material market is also included mainly focusing on major segments such as pigments, solvents, binders and additives.
We have also included the prominent industry players such as Asian Paints, Kansai Nerolac, Berger Paints, and many others to provide a balanced research outlook of the industry. The section covers their business overview, product portfolio, key financials, and industry activities.
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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.