Published on September 29, 2014

A new analysis of paint and coating industry predicts that owing to increased government and private investment in the building and construction industry, coatings market foresees considerable intensification in 2014 through to 2015. The Indian paint industry is expected to pour from the current stage of about Rs. 40,600 crore to about Rs. 62,000 crore by 2016.

Recent report said that the Indian paint industry is escalating due to change in the preferences of people from the traditional white wash to higher quality paints like emulsions and enamel paints which is expanding the market expansion for this sector. Decorative paint segment is growing with a fast pace which is expected to grow at a CAGR of more that 18% during the 2014-15.

GCP sources said that the growth in the new infrastructure development in India with the hope of expansion is escalating the demand for coatings in market. Changing demands in automobile and coatings technology, auto markets and regional economies have forced the auto paint industry to go forward.  Industry experts have projected that the automotive coating market will grow to USD11.7 billion by 2018, this projection will bring gradual improvement in the global economy.

Market players said that major reasons behind the rise in the paint industry are awareness about environment and higher disposable income which is augmenting the demand for premium paints. Currently major coating producers are working on the “smart coatings” which will enhance environmental friendly coatings that are water borne.