Published on February 1, 2017
From past several years Indian paint Industry is growing with a good pace. But the per capita paint consumption is still low as compared to the developed western nations.
The paint sector is raw material intensive, with over 300 raw materials involved in the manufacturing process. Since most of the raw materials are petroleum based, the industry benefits from softening crude prices.
Presently crude oil prices are rising with a good rate of note and demand from real estate sector has been declining on account of this paint market is moving with stable velocity.
Some market players have said that demand for decorative paint arises from household painting, architectural and other display purposes which is currently moving with a soft-to-stable phase. Industrial paints include automobiles engineering and consumer durables. The industrial paints segment is far more technology intensive than the decorative segment.
As demand from end users had plunged, consequently the intense competition among players has been escalating as result medium level players are not getting the benefits.
Market players have said that for the development and growth of the industry brand value, network, working capital efficiency and updated technology plays very important role and to strike the competition and nurture with good brand values market players have to mull over all these points into their growth strategy.