Published on July 28, 2014

The Indian paint industries have to a large extent growth and have also caught the attention of many international players over past few years. According to the researched report, the expansion in this sector is mainly driven by rising population of youth, increase in the tendency to spend and also due to budding infrastructure. Moreover, in fiscal year 2013-14 to 2015-16 it has been estimated that this sector will post a CAGR of around 16.2% and according to the market players, in India with the rise of this industry the market for raw material is going up.

According to the industry expert, major domestic paint manufacturer and one of the largest Indian paint company Asian Paints Ltd has evaluated opportunities to enlarge its presence in the international markets. Ashwin Choksi chairman of Asian Paints had said that hardships such as decelerate in construction in some states, excessive rainfall in some parts of the Southern India and overall sluggish economy is being faced by the domestic paint industry. Furthermore in the fiscal year 2014, owing to the fall in rupee and inflationary force on raw material prices had led to frequent rise in the prices.

Moreover according to the industry expert in the first quarter of 2014, the decorative business had registered double digit growth with good enhancement across geographies, also good escalation in the general industrial segment and refinish segments of automotive coatings was seen, however demand in this segment was subdued. Further, good volume growth in the industrial liquid paints and road marking business was seen in the industrial coatings which had seen a turn down in the year 2013.