Devaraj Parthasarathy08.04.09
The Indian paint industry has been doing well for the past couple of years. In spite of global economic slowdown the industry is performing well. The per capita consumption of paints in India is still low at 1.25 kg against 51.7 kg in Qatar, 38 kg in Singapore or 25.8 kg in the U.S. Even China has a per capita consumption of 2.5 kg and Sri Lanka 3.5 kg. India has a long way to go. Therefore, the future of the industry in India is quite bright.
The size of the Indian industry is approximately 940 million liters valued at approximately $2 billion. The organized sector constituted 54% of the total volume and 65% of the value.
Over the last ten years, the industry has grown at a compounded annual growth rate (CAGR) of 12-13% and in the next five years, it is expected to grow at a CAGR of 11-12%. The industry has a positive correlation with the country's gross domestic product (GDP) as both have the same growth drivers.
India's paint industry can be classified into decorative paints, which account for 75% of the market, and industrial paints, which make up the remaining 25%.
The size of the Indian industry is approximately 940 million liters valued at approximately $2 billion. The organized sector constituted 54% of the total volume and 65% of the value.
Over the last ten years, the industry has grown at a compounded annual growth rate (CAGR) of 12-13% and in the next five years, it is expected to grow at a CAGR of 11-12%. The industry has a positive correlation with the country's gross domestic product (GDP) as both have the same growth drivers.
Decorative versus industrial paints
India's paint industry can be classified into decorative paints, which account for 75% of the market, and industrial paints, which make up the remaining 25%.
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