Over the past few years, the Indian paint market has substantially grown and caught the attention of many international players. The country continues to enjoy a healthy growth rate compared to other economies, backed by the increasing level of disposable income, and demand from infrastructure, industrial and automotive sectors. On the back of such advocacy, it is anticipated that the sector will post a CAGR of around 15% during FY 2012 to FY 2015, according to our new research report, “Indian Paint Industry Forecast to 2015”.
The report segregated paint industry into two segments – Decorative and Industrial paints. Decorative paint market were further segmented into sub-segments, such as emulsions, enamel paints, distemper and cement paints. The industrial paint market covers sub-segments such as automotive coating, high performance coating, powder coating and coil coating. Our analysts closely studied and provides market forecast till 2014-15 of each of the segment and sub-segments. During the study, we have found that the paint industry is dominated by decorative paints. Emulsion, which constitutes the majority share of decorative paints, is the fastest growing segment of the paint industry.
Presently, the growth of the Indian paint industry is being witnessed from new demand pockets, especially in Tier-II and Tier-III cities, thus, signaling the growing acceptance of quality products among the masses. The growing popularity of quality paints and increasing income levels of people residing in Tier-II and Tier-III cities have pushed the growth in premium paint market of Indian decorative paint industry. The report further classifies decorative paint market by product class which includes premium paints, mid-tier paints and economy paints. It provides market forecast till 2014-15 of each of this segment.
As with other fields, some challenges also exists in this promising sector that can affect the growth trajectory of the paint industry, if not handled accordingly. For instance, the industry is highly raw material-intensive and any fluctuation in the availability of raw material leads to substantial price fluctuation in paint production costs. Thus comprehensive analysis of raw material paint market is also included in the report mainly focusing on its major segments such as pigments, solvents, binders and additives. Our team provides the overall raw material paint market as well as its segments market forecast till 2014-15.
Further, our report provides extensive information on the emerging market trends and drivers along with regulatory initiatives, which are collectively uplifting the industry outlook of India. It also provides insights on paint export and import market, along with a brief overview of the prominent industry players to provide a balanced research outlook of the industry. The research also foresees immense opportunities for various domestic and international players in this segment. Overall, our report presents a comprehensive and complete analysis of the Indian paint industry, which will prove decisive for intending clients.