Indian preferences are changing - be it in terms of choosing a product or decorating homes. The change in the pattern of decorating homes and choosing durable interiors has brought in a new revolution in the field of paint industry also. Earlier considered to be an activity taken up only on occasions, painting homes have now become an ‘anytime’ activity - just to experience the change. Also, Indians are now spending heavily on painting, in order to bring a new life to their homes, following which paint companies are launching highly advanced products.
Moreover, the growth in the Indian paint market is driven by rapid urbanization, emergence of the middle class, increase in disposable incomes, growing infrastructure, increase in the tendency to spend extravagantly and growing young population inclined towards leading a lavish lifestyle. On the back of such advocacies, it is anticipated that the Indian paint market will post a CAGR of around 13% during 2013-14 to 2017-18, according to our new research report, “India Paint Industry Outlook 2018”.
Our research is an outcome of extensive primary & secondary research and a thorough analysis of industry trends. 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.
According to our analysis, the shift from solvent-based to water-based paints is a trend now being followed in the paints industry. Also, the rising preference for the water based paints has raised the demand and penetration of the emulsion paints all across the country, especially in Western part of India, with more people captivated by it and making it a fashion statement. Thus, the various types and sub-segments such as plastic emulsions, textured emulsions, synthetic enamels, acrylic distempers, etc. of decorative paints have been analyzed to understand the market size and future potential. Detailed historic and future perspective of types and sub-segments has been provided with all data forecasted till 2017-18.
In the recent years, interior and exterior paints have administered high growth due to the increasing awareness among people regarding the benefits of these variants. Although large share in the paint market is conquered by the interior paints, the exterior paints benefits such as anti-dirt pick up, its property to be water-repellent and long durability are leading to popularity of exterior paints market in the Indian paint industry too. Our analysts have closely studied and provided market forecast till 2017-18 of both interior and exterior paints.
With the growth of paint industry, the market for raw material is also intensifying in the country. A comprehensive analysis and forecasting till 2017-18 of raw material for paint market is also included mainly focusing on major segments, such as pigments, solvents, binders and additives.
The report also includes the prominent industry players such as Asian Paints, Kansai Nerolac, Berger Paints, and many others to provide a balanced research outlook of the industry.
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