Yogender Singh is a New Delhi, India-based freelance writer on the Indian and South Asian industry and economy. He has been writing about the Indian construction and construction material industries of the region for more than ten years. Singh has Engineering and Business Administration (MBA) degrees, and also works as an analyst on these industries with a New Delhi based organization.
Sing’s inaugural column, “India Paint Industry – Gaining Steam,” provides a broad overview of the India paint market.
According to Singh’s research, after steady growth for a number of years, the Indian paint industry witnessed one of the worst years in 2016-17. The lackluster performance of the paint industry in the last fiscal can be largely attributed to demonetization exercises carried out by the Indian government in November 2016.
Some key findings in his article:
• Overall production of paints in India is be 4.25 million tons, registering a five percent growth over the previous year.
• Per capita consumption of paints in India at 3.23 kgs, much lower in comparison to some of the other developed economies around the world. However, current low per capita consumption is viewed by domestic paint producers as immense future growth opportunity for the paint industry.
• Repainting constitutes about 70 percent of the total paint demand in the country. The shortening of the repainting cycle from 6-8 years earlier to 3-4 years is driving the demand for decorative paints.