Over the past few years, the Indian paint market has substantially grown and caught the attention of many international players. The growth in the market is driven by emergence of the middle class in India, growing infrastructure, increase in the tendency to spend and growing young population inclined towards lavish lifestyle. On the back of such advocacy, it is anticipated that the sector will post a CAGR of approximately 16.2 percent during 2013-14 to 2015-16, according to the new research report, “Booming Paint Industry in India.”
This research is an outcome of extensive primary and secondary research spanning more than months and thorough analysis of industry trends. For the study, Research and Markets conducted F2F and telephonic interviews with industry experts such as members of Indian Paint Association and Paint manufacturers. In addition, the author also interviewed more than 200 paint dealers and consumers all over India to embrace various aspects of the industry trends in the report.
The various types of decorative paints have been further analyzed to understand the market size and future potential of various sub-segments such as plastic emulsions, textured emulsions, synthetic enamels, acrylic distempers, etc. The report also classifies decorative paint market by product class which includes premium paints, mid-tier paints and economy paints. Presently, the growth of the Indian paint industry is being witnessed from new demand pockets, especially in Tier-II and Tier-III cities, thus, signalling the growing acceptance of quality products among the masses. The analysts have closely studied and provided market forecast till 2015-16 of all sub-segments and product class.
With the growth of paint industry, the market for raw material is also intensifying in India. A comprehensive analysis and forecasting till 2015-16 of raw material market is also included mainly focusing on major segments such as pigments, solvents, binders and additives.
Companies mentioned in the report include AkzoNobel India, Asian Paints Limited, Berger Paints India Limited, Kansai Nerolac Paints Limited and Shalimar Paints Limited.