Published on December 20, 2016

Indian paint industry is budding with a good velocity. During 2015-16 the overall production of paints was around 4.25 million tones, registering a growth of 5 percent in compare to previous year. The paint Industry grew by around 8 percent to Rs 43,500 crore, where 74 percent share for decorative paints and rest for Industrial paints.

During 2015-16 the consumption of paints in India was around 3.23 kgs which was lower in compare to other developed economies around the world.

Some market players have said that the slowdown in the auto segment has adversely affected the industrial paint as automotive industry consuming around 45 percent of industrial paint business. However, the paint industry over decades has always witnessed a growth equivalent to 1.5 times the GDP growth of the country.

Market players have said that paint industry is escalating with good rate of knot and in near term with the effective low cost product development industry will achieve good amount of growth. Some Industry players have said that, market players are working on the strategic marketing plan so that they can develop product as per customer requirement and offer specific required product to specific zone, which will boost sale.