Press Release

Widespread Use in Automotive & Infrastructure Sector to Drive India Paints & Coatings Market at 11% CAGR

Robustly growing automotive and construction sector, increasing disposable income and shortening of repainting cycle to drive India paints & coatings market through 2023 


According to TechSci Research report,
India Paints & Coatings Market By Resin Type, By Technology, By Application, By Sales Channel, Competition Forecast & Opportunities, 2013 – 2023, paints & coatings market in the country is forecast to grow at a CAGR of more than 11% until 2023, backed by growing automotive, infrastructure and real estate sectors. India is becoming an industrial hub for automobiles, consumer durables and various other industries. With this rapid growth across industries, demand for industrial coatings is expected to grow at a robust pace in the coming years. Moreover, paint manufacturers are producing VOC-free eco-friendly paints and adopting new coating techniques such as water-based thermosetting emulsions, colloidal dispersion, etc., to comply with various air pollution regulations.


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Acrylic resins are largely used in the country’s decorative paints & coatings segment, while epoxy resins hold the dominating share in the non-decorative segment. Decorative paints mostly rely on water-based paints, while non-decorative paints use solvent-based, high solids, powder coatings. Southern India is the leading demand generator for paints & coatings, as this region has more number of smart cities under development as well as larger industrial base.
As per the World Bank, India’s current Gross National Income (GNI) per capita increased from $ 1.83 trillion in 2013 to $ 2.24 trillion in 2016, which, in turn, has positively impacted the purchasing power of consumers in the country. Moreover, the country’s population increased from 1.28 billion in 2013 to 1.32 billion in 2016. Thus, with increasing disposable income and rising population, India’s paints & coatings market is expected to grow at a decent pace in the coming years.


Government initiatives such as ‘Make In India’ and rapid increase in the number of smart cities are boosting the infrastructure sector, which is driving demand for paints & coatings. Moreover, several manufacturers are increasing their production capacities across the country, owing to continuously growing per capita consumption of paints and coating in India. Although the paints & coatings market in India is highly fragmented, many leading companies are entering into joint ventures with local players to strengthen their market position in the country’s paints & coatings market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.


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India Paints & Coatings Market By Resin Type, By Technology, By Application, By Sales Channel, Competition Forecast & Opportunities, 2013 – 2023 has analyzed the potential of India paints & coatings market and provides information and statistics on market structure and trends. The report intends to provide the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. The report also identifies and analyzes emerging trends along with essential drivers and key challenges faced by India paints & coatings market.

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TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

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