Published on February 25, 2014
Paint market in India has witnessed growing demand due to rising levels of disposable income. Improved activity in the industrial infrastructure and automotive sectors also has witnessed the higher demand in past few weeks.
As per report, globally estimated paint and coatings demand will witness yearly growth of more than 5%, reaching almost 46 metric tons in 2015. The industry will record 15% yearly growth between 2012 and 2015.
Paint industry is expected to grow about USD142 billion by 2015, with the increase in the global building construction sector. Increase in the manufacturing activity for the production of motor vehicles and other industrial maintenance applications are expected to increase the demand for coating industry.
Paint and coatings demand in manufacturing markets is expected to expand at a healthy pace through 2017. The metal building components segment is forecasted to see rapid gains, Furniture coatings will also account for a sizable share of new demand between 2012 and 2017.
As per analyst report, demand for green-based chemicals continue to rise, and global demand for paint and coatings through 2015 will continue to come mainly from architectural and automotive segments. Strong recovery in the construction sector and growth in residential building will stimulate demand for architectural paint and furniture coatings.
