In response to the changing demand and association of paints with new life to home, various manufacturers are changing their product portfolios, says RNCOS.
Noida, UP -- (SBWIRE) -- 04/14/2015 -- The change in the pattern of decorating homes and choosing durable interiors has brought in a new revolution in the field of paint industry also. Earlier considered to be an activity taken up only on occasions, painting homes have now become an 'anytime' activity - just to experience the change. Also, Indians are now spending heavily on painting, in order to bring a new life to their homes, following which paint companies are launching highly advanced products. In order to meet various expectations of customers at various price points, companies are diversifying their offerings.
In urban areas, people have become ever more conscious regarding the quality of the paints and select products which do not affect the health. In order to pick up profits, companies have taken several measures to promote environment friendly paints and are also taking initiative towards reducing the amount of harmful chemicals like lead, mercury, arsenic and chromium from the decorative paints. Together with diversifying product portfolios, companies are also offering products at variable rates and volumes in order to lure the consumers and cater the need of different consumer class. For instance, Asian Paints Apex Ultima, an exterior emulsion is specially formulated to safeguard the exteriors from extreme weather conditions and keeps colors fresh for longer duration.
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 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.