Yogender Malik, India Correspondent 06.09.22
PaintIndia 2022 exhibition was held at Geo Convention Centre in Mumbai’s Bandra Kurla Business Complex between 26th and 28th May 2022. Coatings World attended the three day business event and spoke to some of the participants and visitors during the show.
The last two years has not been the best of the times for Indian paints & coating industry due to Covid – 19 related restrictions and their impact on end user sub-segments. The year 2022 started with a brighter note, but the Russia’s military aggression in Ukraine on 24th February led to skyrocketing of crude oil prices, which has had a profound impact on raw material prices for the paint & coating producers. It has been more than three months since the Russian invasion. The participants at the show had a mixed reaction about the state of the industry.
Speaking to CW during the Paint India 2022 event, Kulwant Singh Rathore, Executive Director of Vapi, Gujarat based Meghna Colour Chem told, “Our high-performance organic and inorganic pigments for paint and coating industries can withstand toughest demand. Our pigment compounds provide paint and coating products with some of the most desired attributes such as colour strength, coverage, chemical inertness, durability and good environmental performance. We also provide anti-corrosive pigments, which are ideally suited for direct to metal, automotive and industrial coatings.”
Subhojeet Nag, a sales specialist from Saudi Arabia based Jubail Chemical Industries Company told, “India is one of the most important market for our company. We are one of the handful companies for the production of epoxy resins in GCC region. Our company has an installed capacity to produce 120,000 tonnes of epoxy resins per year.”
Neerav Thacker, Business Head at Unique Specility Chemicals told, “ There is little doubt that chemical and ancilliary suppliers and entire paints & coating industry is going through one of the most challenging period. It has been more than two years since the first wave of Covid-19 stuck in March 2020 in the country. Since than it has been a challenge to run the business.”
Unique Specialty Chemicals is a Mumbai based company specializing in sourcing, distribution and trading of speciality chemicals, resins, pigments, additives, solvents for paints and coating industry.
A key executive from AzkoNobel India, who wished to remain anonymous told CW on the side lines of the event, “ In architectural paint segment, the penetration is between 50% to 55%. However, on the brighter side in the last 10 years, the penetration of paints & coating products has gone up by at least 8-10 %, which is a huge achievement for the industry, given the nature and geography of the Indian market. We have seen entry of a few large scale paint producers in the Indian market during the last three years. This will increase the competition intensity and will increase the penetration level on account of increased emphasis on marketing and promotion by the existing and new players.”
Nishan Pradahan, Business Manager at Pigments division of Mumbai based CJS Specialty Chemicals exuded confidence,” Indian paint and coating industry is gaining traction after two forgetable years. We are nearly at the pre-covid levels. Pent up demand from the last two years and steady growth in investment in infrastructure and automotive segments is expected to result in a very steady demand this year.”
The last two years has not been the best of the times for Indian paints & coating industry due to Covid – 19 related restrictions and their impact on end user sub-segments. The year 2022 started with a brighter note, but the Russia’s military aggression in Ukraine on 24th February led to skyrocketing of crude oil prices, which has had a profound impact on raw material prices for the paint & coating producers. It has been more than three months since the Russian invasion. The participants at the show had a mixed reaction about the state of the industry.
Speaking to CW during the Paint India 2022 event, Kulwant Singh Rathore, Executive Director of Vapi, Gujarat based Meghna Colour Chem told, “Our high-performance organic and inorganic pigments for paint and coating industries can withstand toughest demand. Our pigment compounds provide paint and coating products with some of the most desired attributes such as colour strength, coverage, chemical inertness, durability and good environmental performance. We also provide anti-corrosive pigments, which are ideally suited for direct to metal, automotive and industrial coatings.”
Subhojeet Nag, a sales specialist from Saudi Arabia based Jubail Chemical Industries Company told, “India is one of the most important market for our company. We are one of the handful companies for the production of epoxy resins in GCC region. Our company has an installed capacity to produce 120,000 tonnes of epoxy resins per year.”
Neerav Thacker, Business Head at Unique Specility Chemicals told, “ There is little doubt that chemical and ancilliary suppliers and entire paints & coating industry is going through one of the most challenging period. It has been more than two years since the first wave of Covid-19 stuck in March 2020 in the country. Since than it has been a challenge to run the business.”
Unique Specialty Chemicals is a Mumbai based company specializing in sourcing, distribution and trading of speciality chemicals, resins, pigments, additives, solvents for paints and coating industry.
A key executive from AzkoNobel India, who wished to remain anonymous told CW on the side lines of the event, “ In architectural paint segment, the penetration is between 50% to 55%. However, on the brighter side in the last 10 years, the penetration of paints & coating products has gone up by at least 8-10 %, which is a huge achievement for the industry, given the nature and geography of the Indian market. We have seen entry of a few large scale paint producers in the Indian market during the last three years. This will increase the competition intensity and will increase the penetration level on account of increased emphasis on marketing and promotion by the existing and new players.”
Nishan Pradahan, Business Manager at Pigments division of Mumbai based CJS Specialty Chemicals exuded confidence,” Indian paint and coating industry is gaining traction after two forgetable years. We are nearly at the pre-covid levels. Pent up demand from the last two years and steady growth in investment in infrastructure and automotive segments is expected to result in a very steady demand this year.”