Indian Paint Industry Witnessing Rapid Growth

Indian Paint Industry Witnessing Rapid Growth


Noida, UP -- (SBWIRE) -- 06/20/2013 -- According to our new research report, "Booming Paint Industry in India", the Indian paint industry has seen a gradual shift in the preferences of people from the traditional white wash to higher quality paints like emulsions and enamel paints. Growing popularity of new variants providing improved finishing & textures, increasing per capita income of people and efforts on the part of manufacturers to introduce improved versions like eco friendly, odor free and dust & water resistant paints, have propelled the growth of the paint market in India.

The major boost to the growth in the Indian paint market has been provided by the decorative paint segment, which is anticipated to grow at a CAGR of more than 16% during the period 2013-14 to 2015-16. 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.

Research Analysis & Highlights

The report, "Booming Paint Industry in India" by RNCOS, provides a detailed analysis of the Indian paint industry and its types - decorative and industrial paints. The decorative paint market has been further segmented into emulsions, enamel, distemper and cement paints. Similarly, the industrial paint market is also segmented into automotive coating, high performance coating, powder coating and coil coating. Detailed historic and future perspective has been provided with all data forecasted till 2015-16.

Further, the report has given a brief outlook of the trends and challenges observed in the industry. In addition, major paint manufacturers have also been identified with a focus on their product portfolio, key financials, and industry activities.

Some of the report's key highlights include:

- Emulsion paint market, anticipated to grow at a CAGR of around 24%, is expected to drive growth in the Indian paint industry.
- Automotive coating and High performance coating are the major contributors to the industrial paint revenues in India.
- The market is witnessing introduction of breakthrough technologies to improve the paint quality.
- Paint manufacturers are giving due attention to consumer's color preferences.

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RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.