India Paints and Coatings Market - Segmented by Application, Technology, and Geography - Trends and Forecasts (2016 - 2021)
The Indian paints and coatings market was valued at USD XX billion in 2016 and is likely to reach USD XX billion by 2021, growing at a CAGR of XX% during the forecast period 2016-2021.
Paints and coatings industry is divided into two sub-sectors namely, industrial and architectural. Architectural coatings include both interior and exterior paints, varnishes, primers, stains, and sealers, and their demand is primarily depended on the growth and performance of the construction sector. Industrial coatings includes coil coatings, automotive paints, refinishers, furniture finishing, and road making paints, and their demand is linked to the growth and performance of the industrial equipment sectors, automotive industry, and appliance industries.
Market Dynamics of the Indian Paints and Coatings Market:
Growing demand from infrastructure industry
Increased awareness towards sustainable products
Fluctuating raw material prices
The India paints and coatings market has been segmented on the basis of application into architecture & decorative (interior and exterior), industrial wood coatings, general industrial coatings, automotive OEM, automotive refinish, marine coatings (hull and yacht), consumer durables, packaging coatings, mirror coatings, and others. Based on the technology employed, the market has been segmented into powder coatings, water-borne coatings, solvent-borne coatings, and others. The different types of protective coatings include waterproof, floor/roof, heat resistant, anti-reflective, coil and other coatings.
Emissions of volatile organic compounds (VOCs) and the presence of hazardous chemicals (known to cause gene mutation) in the atmosphere has compelled India to undertake regulations to either curtail or eliminate them. International regulations also have limited the quantity of lead in paints and coating products. There has been a growing awareness among buyers, which resulted in shifting preference regarding effects on human health effects and utility of paints in general.
Furthermore, the development of bio-based products and introduction of the fluoropolymer coatings are expected to offer numerous opportunities for the growth of the India paints and coatings market. Some of the major companies dominating the market with their products, services and R&D activities are:
Kansai Nerolac Paints Ltd.
Key Deliverables in the Study
Market analysis of the Indian paints and coatings market, with region specific assessments and competition analysis.
Market definition along with the identification of key drivers and restraints.
Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market.
Extensively researched competitive landscape section with profiles of major companies along with their market share.
Identification and analysis of the macro and micro factors that affect the Indian paints and coatings market on a nationalscale.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market.
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