Published on September 15, 2014

In this fiscal year 2014-15 the paint industry expects to maintain its growth momentum, as in the 2013-14 fiscal years where it had grown by 12% and Rs 31,360 crore in terms of value, as per industry sources. Moreover in India the overall production of Paints were estimated to be around 6% to 3,115 million liters in compare to the previous year. In addition to it, in this fiscal year the industry was prone to increase around 12-13%.

According to research reports, there has been rise in per capita consumption of paints by 4 kg, the paint industry in this financial year stood at Rs. 40,600 crore out of which almost 73% was contributed by decorative segment at Rs. 29,638 crore and the remaining was contributed by the industrial sector at Rs. 10,962 crore.  During the period 2014-15, the decorative paint sector has been providing a major boost to the augmentation in Indian paint market that projected a growth of more than 18%.

In the next two years, the Indian paint industry has projected to touch around Rs. 62,000 crore from the current level of around Rs. 40,600 crore, which will  be largely helped by the rising demand across the country mainly in the hinterlands and moreover it will witness around 20% ,a double digit compound annual growth rate (CAGR). Additionally, the growth of paint industry has been fuelled by various launches of many innovative products, rise in disposable income and education, development of the rural market and rising urbanization, as per the researched report.

However with the upcoming of festive season the demand for paint is likely to rise and also from architectural, household paintings and other display products, the demand of decorative paints is expected to boost further.