Published on June 2, 2014

Industry analysts said that as new products development are taking place in the industry, the paint industry at present is running with a growing pace as the major user industry, construction sector is budding very well, which is one of the key reason for the growth in this sector. They added that in this industry, there have been few innovations both at the level of product development and technology whereas few changes have been seen on the usage side that will add to its growth.

Market players said that the paint producers have started to look beyond cities like other consumers goods companies. Moreover industry experts are expecting that this fiscal year around 12% augment in the business volume as well as rise in turnover of 10-12%. This will add to the demand of the related chemical that is used in the manufacturing of Paint and coating.

For past few years, the Indian paint industry has been growing at the rate of above 15% and the market size of the paint industry has been estimated around Rs. 29,000 crore. From a predominant decorative paints market with seasonal fluctuations, this industry has grown to a more diversified market.

The fortunes of this industry in the recent years had contributed to several factors including comprehensive product portfolios, value added services offered by the companies, commence of an innovative products, antagonistic marketing strategies and espousal of latest technologies. As per a researched report, by the year 2018 the industry is likely to double, at present the value of the Indian paint industry is at USD 5 billion.