Published on April 13, 2015
The paints and coatings industry in India is growing at a CAGR of 10.5% till the end of this year. It is anticipated to grow at the rate of 12-13% annually over the next five years.
Report said that Earlier the demand for premium decorative paints was restricted to the urban areas. However, growing awareness and increasing disposable income levels have supported the growth of this category of paints in the rural and semi- urban area.
Recent report said that in near term the paint industry players will benefit with higher profit margins due to positive measures taken by the government to control the inflation rate. The revenue is anticipated to grow at a CAGR of 13.6% till 2018.
Market players said that as a considerable portion of the population is shifting to urban areas, the consumption of premium decorative paints is anticipated to scale up in the future. Apart from this with the anticipated growth in the manufacturing sector, the demand for industrial paints is also expected to boost the market share. The “Make in India” campaign followed by one day registration window for international organization is likely to encourage foreign business to come into India which will boost up the paint industry growth also.
