Introduction

India's paints and coatings industry has emerged as one of the most dynamic sectors in the country, witnessing robust growth over recent years. Among its various segments, decorative paints dominate the market — not only in terms of visibility but also in terms of both volume and value. In fact, decorative paints account for approximately 70% of the total market value and a significant 81% of total market volume. This dominance is being further fueled by rising home ownership, booming real estate activity in Tier-II and Tier-III cities, and a growing preference among consumers for aesthetic and design-conscious interiors.

Reflecting this upward trajectory, the India Paints & Coatings Market was valued at INR 57,408.00 Crore with a total volume of 4,889,151.62 Kilolitres in FY2021. By FY2025, the market is projected to reach INR 86,211.04 Crore with a total volume of 7,380,449.38 Kilolitres, registering a compounded annual growth rate (CAGR) of 10.7% during the forecast period.

Market Insight and Construction Influence

The close connection between the paint industry and the construction sector cannot be overstated. India’s construction market, pegged to hit USD 1.4 trillion by 2025, is a major demand driver for decorative paints. Over 1.2 crore houses have been sanctioned under PMAY, and with consistent urban infrastructure upgrades, the scope for decorative paints is ever-expanding.

The volume and value dynamics in the market clearly show the influence of adjacent products in sheer quantity, while emulsions—especially premium ones—drive value. As India continues to build and beautify, the decorative paints segment will only grow more vibrant, versatile, and valuable.

Segmentation of Decorative Paints Market

The decorative paints segment in India can be broadly categorized into two major components: emulsions and adjacent products.

Both serve unique purposes within the painting ecosystem, offering a combination of aesthetic appeal, durability, and functional utility. While emulsions are often the most visible and instantly recognizable component—found on walls and ceilings—adjacent products like primers, putty, and waterproofing solutions form the backbone of any painting or renovation effort.

Emulsions

Emulsion paints are water-based paints where the pigment (color) and binder (resin or polymer) are dispersed in water using an emulsifying agent. These paints are primarily used on walls and ceilings for decorative and protective finishes and are known for their quick drying time, low odor, smooth finish, and ease of application.

In the Indian decorative paint industry, emulsion paints are one of the most important and fastest-growing segments. They have steadily replaced traditional paints like limewash and distemper due to their superior properties and aesthetic appeal. Emulsion paints cater to both interior and exterior applications, offering versatility, durability, and a wide range of finishes.

These paints are widely accepted in both urban and semi-urban households across India and have become synonymous with modern wall painting. Unlike solvent-based paints, emulsion paints use water as a solvent, making them more eco-friendly and less toxic, which aligns with the growing awareness around health and sustainability among Indian consumers.

The primary reason for their growing popularity lies in their performance. Emulsion paints offer excellent washability, stain resistance, smooth appearance, and fungal/algae protection, especially in humid Indian climates. Premium variants also offer anti-bacterial, anti-dust, and odorless technologies—an added advantage in urban residential complexes.

Emulsion paints are further segmented based on price and performance:

• Mass and economy emulsions cater to cost-sensitive consumers and are used for basic wall finishing needs. These are typically priced in the range of ₹100–₹140 per litre.
• Premium emulsions, priced above ₹220 per litre, come with luxurious finishes, high coverage, and additional features like weather resistance, low VOC (volatile organic compounds), and enhanced aesthetic appeal.

Major Indian paint companies like Asian Paints, Berger Paints, Kansai Nerolac, Akzo Nobel (Dulux), Indigo Paints, and Shalimar Paints offer a wide variety of emulsion products tailored to different price segments and climate needs. For example, products like Asian Paints’ Royale, Berger’s Silk, and Dulux’s Velvet Touch cater to premium consumers, while offerings like Tractor Emulsion or Nerolac Beauty cater to the economy segment.

In recent years, innovations in emulsion paints have accelerated, with companies introducing textured emulsions, odorless formulations, and anti-viral/anti-bacterial emulsions. The surge in real estate and home renovation activity across metro cities, Tier-2, and Tier-3 towns has further boosted demand for emulsion paints.

Emulsions constitute about half of the total decorative paint market by value. These are water-based paints used on interior and exterior walls, prized for their smooth finish, quick drying time, and ease of application.

a. Premium Emulsions

Premium emulsions make up 20% of the decorative paint market by value. These are targeted at urban middle- and upper-middle-class consumers, offering superior features such as stain resistance, washability, anti-bacterial coatings, and even air-purifying properties. Popular brands include Asian Paints Royale, Berger Silk Glamor, and Dulux Velvet Touch. In India's metro cities like Bangalore, Mumbai, and Delhi, these paints are frequently used in luxury homes and modern apartment complexes where aesthetics and durability are paramount.

b. Mass & Economy Emulsions

On the other hand, mass and economy emulsions contribute to 30% of the decorative paint market’s value. These paints cater to budget-conscious homeowners, especially in smaller towns and rural areas, who seek affordable yet reasonably durable solutions. Products such as Asian Paints Tractor Emulsion and Nerolac Beauty Gold serve as cost-effective alternatives for painting larger surface areas in housing developments, schools, and public sector buildings.

Adjacent Products

The remaining half of the decorative paint market by value is comprised of adjacent products. These are essential components that include waterproofing solutions, putty and textured finishes, primers, enamels, wood coatings, and other tools and materials. Their contribution in terms of volume reflects their indispensability in surface preparation, protection, and finishing work.

a. Waterproofing

Waterproofing paints are specially formulated coatings designed to prevent water penetration into surfaces such as walls, roofs, basements, and concrete structures. These paints create a water-resistant or waterproof barrier over the applied surface, thereby protecting buildings from water seepage, dampness, algae growth, and structural damage caused by moisture.

In the Indian context, waterproofing paints have become increasingly important due to the country’s diverse and often extreme climatic conditions. From heavy monsoons in the coastal regions to extreme humidity in the south and intense summer heat in the north, Indian buildings are frequently exposed to environmental stresses that can cause water damage over time. Moisture seepage is a common issue in Indian households, especially during the rainy season. This has led to a growing demand for waterproofing solutions not just in new construction but also in repair and renovation of older structures.

These paints are applied much like regular paints but provide enhanced protection by forming a flexible, durable membrane that resists water penetration and can bridge small cracks on the surface.

Leading Indian paint companies have launched extensive waterproofing product lines to meet this growing demand. Brands such as Asian Paints (SmartCare), Berger Paints (Homeshield), Kansai Nerolac (Perma), and Pidilite (Dr. Fixit) have invested significantly in research and marketing for their waterproofing divisions. Even mid-sized and regional paint companies like Shalimar Paints, Esdee Paints, and Kamdhenu Paints have introduced value-oriented waterproofing paints to capture a share of this expanding market.

Waterproofing holds a 10% share in value terms of the decorative paint segment. This subcategory is gaining importance due to India's diverse climatic conditions, especially in monsoon-heavy states like Kerala and Maharashtra. Waterproofing products are used to prevent water seepage and dampness, particularly in exterior walls, rooftops, and bathrooms. Brands like Dr. Fixit Raincoat and Asian Paints SmartCare Damp Proof have become standard choices in both new residential developments and repair projects.

b. Putty & Textures

Wall putty is a white, cement-based or acrylic-based smoothening compound applied to plastered walls before painting. Its main purpose is to level the surface, fill in cracks or pores, and create a uniform, smooth base for paint to adhere to. Putty enhances the life of the paint by providing a moisture-resistant and alkali-resistant foundation. It is applied in one or more layers using a putty knife or trowel and requires sanding after drying.

In India, wall putty is a widely used preparatory product in both interior and exterior painting processes. Leading variants include white cement-based putty (preferred for durability and strength) and acrylic putty (for smoother finishes and better paint compatibility).

Texture paint is a specially formulated decorative paint that adds a 3D surface effect to walls, creating tactile and visual textures such as stone, sand, stucco, marble, waves, or geometric patterns. Unlike flat emulsions, texture paints contain coarse particles or additives that give them a raised, rough, or patterned finish. They are typically applied using special tools like rollers, brushes, trowels, or spray machines.

In the Indian decorative paint market, texture paints are used to enhance aesthetic appeal, especially in feature walls, facades, lobbies, and high-end residential or commercial interiors. They also offer benefits like crack-bridging ability, weather resistance, and longer life, making them suitable for exterior applications too

Putty and textured finishes together form one of the most volume-heavy segments, contributing for about 6% of its decorative paint market value. Wall putty is applied before painting to create a smooth, even surface, thereby enhancing the final look and longevity of the paint. Texture paints are used to add depth and visual appeal, often applied to feature walls in homes, retail spaces, and hospitality environments. Leading products in this segment include Birla White Wallcare Putty and decorative textures from JSW Paints and Asian Paints Royale Play.

c. Primers

Primer is a specialized base coat applied to surfaces before the final paint is applied. It serves as a preparatory layer that enhances adhesion, seals the substrate, and provides a uniform surface for the topcoat. The primary purpose of primer is to ensure that the paint adheres properly to the surface, lasts longer, and gives a smoother and more professional finish. It also helps in blocking stains, covering previous colors, reducing absorption on porous surfaces, and improving the opacity and finish of the topcoat.

In the Indian decorative paint industry, primer is a standard and essential product in the painting process for both new and repainted surfaces. India's diverse climatic conditions—ranging from extreme heat and monsoon humidity to dust and pollution—demand a reliable base layer that can handle moisture, alkali content, and uneven surface textures. Primers in India are formulated specifically to tackle these regional conditions and surface challenges, especially on masonry, concrete, metal, and wood substrates.

One of the key functions of a primer in India is to neutralize the alkalinity of cement plaster. Fresh plastered walls contain lime and other alkaline materials which can react with paint, causing efflorescence or peeling. Primers form a barrier that prevents this chemical reaction, thus protecting the paint film. They also reduce paint absorption on porous surfaces like plaster or concrete, which in turn reduces the number of coats needed—making painting more cost-effective and durable.

There are different types of primers available in the Indian market, each suited for specific surface types and applications. The most common are:

• Cement or Wall Primer (Water-Based/Solvent-Based): These are used on plastered walls and ceilings. Water-based wall primers are popular for interiors, while solvent-based ones are more suitable for exterior applications.
• Metal Primer (e.g., Red Oxide, Zinc Chromate): These are used before painting on iron or steel surfaces to prevent corrosion and ensure better bonding of the paint.
• Wood Primer: These are applied to wooden doors, windows, and furniture to seal the grain, prevent absorption, and create a smooth base for enamel or wood finishes.

All major Indian paint companies such as Asian Paints (Trucare Primer), Berger Paints (BP White Primer), Nerolac (Suraksha Primer), Indigo Paints, and Dulux offer a wide range of primers catering to different needs. Many of these primers come with enhanced features such as alkali resistance, fungal resistance, quick drying, and low VOC (volatile organic compound) emissions, making them safe for both indoor and outdoor use.

Primers are another vital subsegment, with a 9% value share in the decorative paint market. Acting as the preparatory layer before paint application, primers help seal surfaces, improve adhesion, and extend the lifespan of the topcoat. They are used on masonry, wood, and metal surfaces, and are indispensable for both new construction and repainting work. Well-known offerings in this segment include Asian Paints Decoprime, Indigo Universal Primer, and Nerolac Primer.

d. Enamels

Enamel paint is a solvent-based (oil-based) or synthetic resin-based coating known for its hard, glossy, and highly durable finish. Unlike water-based paints such as emulsions, enamels offer a smooth and shiny surface that is resistant to moisture, stains, scratches, and wear, making them ideal for areas that require frequent cleaning or exposure to the elements.

In the Indian decorative paint industry, enamel paints are commonly used on metal, wood, doors, windows, grills, railings, furniture, and kitchen or bathroom surfaces. They are also used in industrial and institutional applications due to their robust properties. Enamels are valued for their superior adhesion, water resistance, and long-lasting sheen, making them suitable for both interior and exterior environments.

There are various finishes available in enamel paints, including high-gloss, semi-gloss, satin, and matte. The high-gloss variants are especially popular for wood and metal surfaces where a premium finish is desired. Due to their dense formulation, enamels take longer to dry compared to water-based paints but offer greater protection and durability once cured.

Enamels in India are often categorized as:

• Synthetic enamels – Cost-effective, commonly used for household and general-purpose applications.
• PU (Polyurethane) enamels – Premium options with better gloss retention and chemical resistance.
• Fast-drying enamels – Used in quick renovation or industrial projects.

Leading Indian paint manufacturers like Asian Paints, Berger Paints, Nerolac, Dulux, and Indigo Paints offer a wide range of enamel products under their decorative and protective coatings segments. As durability and aesthetics continue to influence consumer choices, enamel paints remain a staple in both residential and industrial painting systems across India.

Enamels make up 14% of the decorative market's value. These solvent-based paints are primarily used on metal and wooden surfaces to provide a glossy, durable, and moisture-resistant finish. Common applications include doors, window frames, furniture, and railings. Brands like Berger Luxol High Gloss and Nerolac Synthetic Enamel are widely used across residential, commercial, and institutional buildings.

e. Wood Coatings

Wood coatings are specially formulated finishes applied to wooden surfaces such as doors, windows, furniture, cabinets, flooring, and paneling to enhance their appearance, protect against damage, and prolong their lifespan. These coatings can be transparent or opaque, offering a variety of finishes such as glossy, matte, satin, or natural wood tone. They are designed to guard wood against moisture, UV rays, stains, scratches, and fungal or termite attacks, which are common in the Indian climate.

The most common types of wood coatings in India include:

• Melamine: Popular for furniture due to its tough, glossy finish and affordability.
• Polyurethane (PU): Premium option offering superior durability, water resistance, and a rich look.
• NC Lacquer (Nitrocellulose): Used for quick-drying, smooth finishes on indoor furniture.
• Wood stains and sealers: Used to color and protect natural wood grains without concealing texture.

Major Indian paint companies such as Asian Paints (Woodtech), Berger Paints (Woodkeeper), Nerolac, Indigo Paints, and ICA Pidilite offer a wide range of wood coating solutions tailored to Indian conditions and consumer preferences.

As aesthetics and home décor gain importance, wood coatings are becoming increasingly popular in both residential and commercial spaces for their functional protection and decorative value.

Although a niche, wood coatings contribute around 2% of the decorative paint market by value. These coatings enhance the aesthetic appeal and durability of wooden furniture and fixtures. The segment includes polyurethane (PU), melamine, and water-based coatings that offer resistance against stains, scratches, and environmental wear. Brands such as Asian Paints WoodTech and ICA Italian Finishes cater to both urban home renovation and premium furniture production.

f. Others (Distempers, Application Tools, etc.)

This final category, comprising products like distempers and application tools, accounts for roughly 9% of the market in value terms. Distempers, being cost-effective, are still used widely in rural India and low-income housing projects. Application tools such as rollers, brushes, and masking tapes are vital for delivering a quality finish and are increasingly being supplied by organized players like Asian Paints TruCare and Berger Paints Express Painting.

Interior and Exterior Paints in the Indian Decorative Paint Industry

In the Indian decorative paint industry, paints are broadly categorized into interior and exterior paints, based on their application and performance requirements. Interior paints are designed for indoor walls, ceilings, wood, and metal surfaces. These paints prioritize smoothness, aesthetics, ease of cleaning, low odour, and resistance to stains and moisture. Common subsegments under interior paints include emulsion paints, which dominate the category due to their wide acceptance and superior finish. Emulsions are further divided into mass and economy, mid-tier, and premium emulsions, depending on price and performance features like washability, anti-bacterial protection, and luxurious finish. Other important interior segments include distempers—a more affordable option still used in rural and low-budget markets—and primers, which are applied as the first coat to seal the surface and improve paint adhesion. Putty, used for surface levelling before applying primer or paint, is another critical subsegment. Additionally, enamels are used on wood and metal surfaces for a durable and glossy finish, while wood coatings such as melamine and PU provide protection and shine to wooden furniture and interiors.

On the other hand, exterior paints are specially formulated to withstand harsh environmental conditions such as sunlight, rain, dust, pollution, and temperature changes. These include exterior emulsions, available in economy to premium grades, offering properties like UV resistance, anti-algal protection, and weatherproofing. Texture paints are also popular for exteriors due to their decorative and protective qualities. Exterior primers and weather-resistant putties are used as preparatory layers, while waterproofing paints play a crucial role in preventing seepage and dampness in walls and terraces. Together, these segments and subsegments form a comprehensive product ecosystem tailored for India’s diverse climate and consumer needs in both new construction and repainting cycles.

Market Dynamics and Future Outlook

The data suggests a clear demarcation between value-driven and volume-driven segments. While emulsions lead in value, adjacent products dominate by volume, highlighting their integral role in every painting job. The trend of premiumization, especially in urban centres, is boosting sales of high-end emulsions and specialized coatings. Concurrently, rural and semi-urban demand continues to fuel volume growth in economy emulsions, putty, and primers.

As government initiatives like Housing for All and Smart Cities Mission progress, the demand for decorative paints across segments is expected to rise steadily.

Conclusion

The Indian decorative paints market is more than just colour and aesthetics—it's a blend of chemistry, utility, and evolving consumer expectations. From emulsions that beautify to adjacent products that fortify, each component plays a vital role. Much like the hidden pillars supporting a grand structure, it is these foundational products that truly complete the canvas of Indian homes and buildings.

As India paints its future with a palette of growth, innovation, and inclusivity, the decorative paint segment will continue to flourish, one wall at a time.