Published on November 24, 2014

According to the recent researched report, the smart coatings demand is getting higher in the urban areas of the country, because of rising awareness regarding the environmental issues is gaining grounds. Indian paint industry has outsized potential for energy-saving coatings in the construction sector, such as paints which help insulate buildings, which contribute to reductions in heat loss through walls, roofs and windows. It is expected to report robust volume growth in the coming quarters on the back of strong demand for decorative paints from both urban and rural areas. Moreover the industrial paints segment is also expected to do well following the revival in industrial growth.

Paint market players are expecting that in the coming years with the innovative products they will grow very aggressively and will beat the market rate of growth. According to them decorative segment is operating at steady level and has been performing well due to reduced cost of petrochemical products.

The manufacturing companies are focusing on restructuring of its decorative segment and introduction of new products. The market size of the paint industry in India is estimated at around Rs 290 billion. Industry players expect close to 12% growth in business volume and 10-12% rise in sales in FY15. Industry Source said that the incentives given by the government to the housing sector are escalating the demand for decorative paints segment.