Published on December 1, 2014

As per the analysis, the paint industry is anticipated to reach at the level of Rs 62,000 crore in the next two years and will grow by  20 percent compound annual growth rate till 2016, by reason of increasing demand from retail consumers, on rapid urbanization and development of rural markets.

Market players said that in Asia India is the second largest consumer of paint. A rise in non-refundable revenues of the average middle class is increasing investment on urbanization, education, development of the rural market and launches of innovative products which is escalating the demand for paint and coating sector.

Source said that to address growing demand for paints, previous month Berger Paints publicized its plan to unwrap a training academy for painters. The school will be located in Vijayawada and is the fourth in a series of academies established by Berger Paints.

According to the researched report, the demand for paint in India is being driven by a number of factors, some structural and others cultural. On the one hand, it seems that Indian decorative preferences may be changing.  Beyond aesthetics, India is also undergoing rapid urbanization that accounts for some of the painting growth of the market. Moreover, rise in demand for paint is an expected by-product of growing housing and development.