Published on February 3, 2014
Paint sector is growing with the growth in emergence of the middle class in India especially young population tendency to stay in nuclear families and increase in the propensity to spend.
In India demand for industrial paint is growing with the growth in automobile and infrastructure industry. At present infrastructure is badly affected by the economic slowdown so the hopes are steady only for industrial paint segment.
In volume terms, the per capita paint consumption has been estimated to be 2.57 kgs. Paint market is estimated to double by 2016 with per capita consumption increasing to over 4 kgs.
As per report in order to achieve profitable growth this fiscal, Shalimar paint is changing its business model by improving product mix and cost. Company is diverting itself into special category of paints and is currently focusing for that business.
Market players expect to maintain double-digit volume growth in the decorative segment this financial year. Industry leaders are hoping for the best for achieving the ambitious growth over the next four years.
