Published on March 2, 2015

The coatings market is experiencing enormous growth which is expected to continue in the near future. The growth in the market is driven by emergence of the middle class in India, growing infrastructure, increase in the tendency to spend and growing young population inclined towards lavish lifestyle. On account of this, it is anticipated that the sector will attain a CAGR of around 16.2 % till 2016.

The Indian paint market is growing with a rapid pace, wherein the decorative paints market will continue to dominate the overall market as demand for such paints mainly arises from household paintings, architectural and other display purposes. The remaining market includes mainly of the industrial paints, wherein the demand comes mostly from automotive engineering and consumer durable segments, the overall decorative paint segment is price sensitive, whereas the industrial paint segment is heavily technology oriented.

Recent report said that the in upcoming time the growth in infrastructure activities would escalate more demand for industrial paints. Furthermore, the decision of encouraging the adoption of public private partnership based models for the ongoing projects is expected to make faster completion of the projects and will increase the Government Expenditure on Infrastructure which will be fruitful for the positive growth of the Indian paint industry.

Market players said that with more Government spending on infrastructure and higher manufacturing activities, paint industry is expected to be uplifted in near term.