Ideas That Generate Results
India Paint Industry Outlook 2020
The paint industry in India has moved forward from a predominant decorative paints market to a more diversified market with seasonal fluctuations. Several factors that have contributed to the rapid growth of the Indian paint industry include adoption of latest technologies and innovative products launch. Also, given rapid urbanization, increasing disposable incomes and growing infrastructure, it is anticipated that the Indian paint market will grow with a CAGR of around 14% during 2015-16 to 2019-20.
In our report “India Paint Industry Outlook 2020”, RNCOS’ analysts have identified and described the paint market dynamics in important segments thus clearly highlighting the areas offering promising growth potential for companies to boost their expansion. The Indian paint industry has begun to look more like the FMCG industry where branding, distribution strength and innovative use of technology have become decisive aspects of growth against a backdrop of ever changing customer preferences.
On studying the market thoroughly, we observed that the trends like increasing demand from rural markets, huge potential for innovative technologies, soaring housing industry and extensively varied product portfolios are propelling the demand for paint throughout the country. Our study also revealed that although Northern and Western India hold the maximum demand for paint in the market, spurring demand in Southern and Eastern regions is driving the paint market further.
Our analysis deciphers that the decorative paint market in India has the maximum market demand. In the report, the decorative paint market has been segmented into by application, by product class, by technology, by demand, by composition, by region and by tier cities. The report also discusses in detail the emulsion, enamel and distemper decorative paint markets. It also provides a thorough description of the industrial paints market and the market scenario of raw materials required for any paint.
Thus, the report will help clients to analyze the leading-edge opportunities critical to the success of the paint industry. Thorough analysis has been conducted on industry players such as Asian Paints, Kansai Nerolac, Berger Paints, Akzo Nobel and Shalimar that will help the clients to develop an understanding of the competitors in the paint market. Overall, the report is likely to provide clients with an optimum source of knowledge and statistics related to Indian paint market.