India Paint Industry to Reach USD 18.18 Billion by 2020, According to IS Advisors30 Aug 2012 • by Natalie Aster
India’s strong economic growth has propelled the paint industry to double-digit growth over the past few years and has made it the Asia Pacific’s fastest growing paint market. Despite fast growth, India’s per capita paint consumption is still abysmally low at ~2kg/year. Due to increased government funding for infrastructure, demand for paints both in industrial and decorative segment is set to rise, thereby rendering Indian paint industry to be poised for further growth.
Nearly 65% of the paint market is organized. The organized market is highly concentrated and a classic example of an oligopoly, where entry barriers are high and the ‘top-5’ players capture most of the market, while the unorganized market is highly fragmented with over 2,000 players.
According to the report “Paint Industry In India (2012-15)” by IS Advisors, the industry size for paints is estimated at US$ 5.29 billion. The industry’s apex body, Indian Paint Association (IPA), expects the industry to reach the level of US$ 18.18 billion by 2020. With the increasing urbanization, easy availability of credit, and a concurrent growth in construction, automobile and consumer durable segments, the domestic paint industry is poised to grow steadily in the coming years.
Paint Industry in India (2012-15)
Published: August, 2012
Price: US$ 500,00
Key Industry Trends:
- Perception Change from Aesthetic to Protective Coating
- Focus on Research and Development
- Launch of Various Innovative Product Offerings
- Increased Thrust on Brand Creation and Distribution
- Water Based Paints Substituting Lower End Paints
- Tinting Systems a Trend Now
More information can be found in the report “Paint Industry in India (2012-15)” by IS Advisors.
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