Published on April 12, 2017
The Indian paint market which was around Rs 40,300 crores in 2014-15 is expected to reach Rs 70, 875 crores by 2019-2020 years and is likely to see a 20 per cent compounded annual growth rate until 2017.
As per market players, with the increasing demand from retail consumers, on rapid urbanization, and development of rural markets the industry will reach the level of Rs 62,000 crore in the upcoming two years.
As per recent research The Government is anticipated to continue with its reforms agenda, with policy decisions like GST, Infrastructure, and Power Sector Reforms projected to be implemented in the near term. These reforms, would provide great impetus to the economy as well as to the paint industry.
Decorative paints segment is expected to achieve higher expansion in near term . The fiscal incentives given by the government to the housing sector have enormously benefited the housing sector. This will benefit key players in the long term.
As per market players, on the cost front the industry benefited from the low crude oil prices and derivatives prices, as recently the oil prices are going up will enhance the cost of product. As per the some market players in near term it is anticipated that the paint and coating products prices will go up whereas on demand front demand will be on higher side as so many infrastructure projects are in queue.