Paints & Coating Market in India (2025 – 2030)
Description
India’s paints and coatings market is driven by rising urbanization, infrastructure expansion, and a growing middle class. The sector is witnessing increased demand across decorative, industrial, and specialty segments. Innovation, environmental compliance, and premiumization are reshaping the competitive landscape. As consumers and industries shift towards sustainability and aesthetics, the market is poised for technological upgrades and evolving application preferences.
Market insights:
The paints and coatings market in India was valued at INR 1,350.77 Bn in 2024 and is expected to reach INR 2,292.92 Bn by 2030, expanding at a compound annual growth rate (CAGR) of 9.28% during the 2025 ─ 2030 period.
India’s paints and coatings market is expected to witness robust growth between 2025 and 2030, driven by expanding construction activity, increased consumer spending on home décor, and rising industrial output. With the housing sector booming and the government’s continued push for infrastructure through Smart Cities and urban development missions, decorative and protective coatings are in high demand. Tier 2 and Tier 3 cities are contributing significantly to volume growth, especially in the decorative segment.
Industrial and automotive sectors are also increasing their reliance on high-performance coatings for durability and compliance. The market is increasingly dominated by water-based and low-VOC formulations, reflecting growing awareness of sustainability and indoor air quality. Foreign direct investment and the expansion of organized retail further fuel product availability and innovation in this highly competitive market.
Market segmentation:
India’s paints and coatings market comprises three segments: decorative paints, industrial coatings, and specialty coatings. As of 2024, the decorative paints segment dominated the market, accounting for 77.25% of the total sector.
By the end of 2030, the decorative paints segment is expected to hold a share of around 77.55% of the overall market. The popularity of industrial coatings is growing, driven by increasing demand for powder coatings and water-based solutions, which are gradually replacing solvent-based alternatives. Specialty coatings are also expected to emerge as a high-margin, high-tech niche, supported by research-driven advancements.
Market trends:
The Indian paints and coatings industry is undergoing major shifts, led by sustainability, digital transformation, and consumer behaviour changes. Eco-friendly and low-VOC paints are increasingly favoured due to environmental regulations and growing health awareness. Premiumization is driving growth in urban areas, where consumers prefer long-lasting, easy-to-clean, and designer finishes. Smart paints, with functionalities like temperature regulation and air purification, are gaining attention in urban housing and commercial projects.
On the industrial side, automation and robotics are enhancing the precision and efficiency of coating applications. Companies are investing in green chemistry and nano-technology-based coatings to reduce environmental impact and improve performance.
Market insights:
The paints and coatings market in India was valued at INR 1,350.77 Bn in 2024 and is expected to reach INR 2,292.92 Bn by 2030, expanding at a compound annual growth rate (CAGR) of 9.28% during the 2025 ─ 2030 period.
India’s paints and coatings market is expected to witness robust growth between 2025 and 2030, driven by expanding construction activity, increased consumer spending on home décor, and rising industrial output. With the housing sector booming and the government’s continued push for infrastructure through Smart Cities and urban development missions, decorative and protective coatings are in high demand. Tier 2 and Tier 3 cities are contributing significantly to volume growth, especially in the decorative segment.
Industrial and automotive sectors are also increasing their reliance on high-performance coatings for durability and compliance. The market is increasingly dominated by water-based and low-VOC formulations, reflecting growing awareness of sustainability and indoor air quality. Foreign direct investment and the expansion of organized retail further fuel product availability and innovation in this highly competitive market.
Market segmentation:
India’s paints and coatings market comprises three segments: decorative paints, industrial coatings, and specialty coatings. As of 2024, the decorative paints segment dominated the market, accounting for 77.25% of the total sector.
By the end of 2030, the decorative paints segment is expected to hold a share of around 77.55% of the overall market. The popularity of industrial coatings is growing, driven by increasing demand for powder coatings and water-based solutions, which are gradually replacing solvent-based alternatives. Specialty coatings are also expected to emerge as a high-margin, high-tech niche, supported by research-driven advancements.
Market trends:
The Indian paints and coatings industry is undergoing major shifts, led by sustainability, digital transformation, and consumer behaviour changes. Eco-friendly and low-VOC paints are increasingly favoured due to environmental regulations and growing health awareness. Premiumization is driving growth in urban areas, where consumers prefer long-lasting, easy-to-clean, and designer finishes. Smart paints, with functionalities like temperature regulation and air purification, are gaining attention in urban housing and commercial projects.
On the industrial side, automation and robotics are enhancing the precision and efficiency of coating applications. Companies are investing in green chemistry and nano-technology-based coatings to reduce environmental impact and improve performance.
Table of Contents
73 Pages
- Chapter 1: Executive Summary
- Chapter 2: Socio-economic Indicators
- Chapter 3: Introduction
- 3.1. Market Definition and Structure
- Chapter 4: Market Overview
- 4.1. Paints and Coatings Market in India – An Overview
- 4.1.1. Market Size and Growth Forecast Based on Value (2023 – 2030e)
- 4.1.2. Current Market Scenario
- 4.2. Porter’s Five Forces Analysis
- Chapter 5: Market Segmentation
- 5.1. Paints and Coatings Market – Segmentation Based on Product Type
- 5.2. Decorative Paints Market – Size and Growth Forecast (2023 – 2030e)
- 5.3. Industrial Coatings Market – Size and Growth Forecast (2023 – 2030e)
- 5.4. Specialty Coatings Market – Size and Growth Forecast (2023 – 2030e)
- Chapter 6: Market Influencers
- 6.1. Market Growth Drivers
- 6.2. Market Challenges
- Chapter 7: Government Initiatives
- 7.1. Key Initiatives by the Government that Support the Paints and Coatings Market in India
- Chapter 8: Market Trends
- 7.1. Key Market Trends
- Chapter 9: Trade Analysis
- 9.1. Trade Analysis
- Chapter 10: Competitive landscape
- 10.1. Akzo Nobel India Limited
- Company information
- Business description
- Products/Services
- Key people
- Financial snapshot
- Key ratios
- Key financial performance indicators
- Key business segments
- Key geographic segments
- Note: Financial information has been covered only for public companies.
- 10.2. Asian Paints Limited
- 10.3. Berger Paints India Limited
- 10.4. Indigo Paints Limited
- 10.5. Kansai Nerolac Paints Limited
- 10.6. Shalimar Paints Limited
- 10.7. Jenson & Nicholson (India) Limited
- 10.8. Nippon Paint (India) Private Limited
- 10.9. Sheenlac Paints Limited
- 10.10. Snowcem Paints Private Limited
- Chapter 11: Recent developments
- 11.1. Recent developments
- Chapter 12: Appendix
- 12.1. Research methodology
- 12.2. About Netscribes
- 12.3. Disclaimer
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