Published on October 13, 2014

Recently number of factors are driving the growth of the paint and coating industry in India. Indian Paint and coating sector is having immense growth potential and from this growth manufacturers will gain benefit. 

Currently market players are looking for the lighter weight coating system and faster product drying times to beat the competition in the market.  According to the industry experts, weak crude and Indonesian foray adds colour to Asian Paints. The fall in crude oil prices since mid-June, 2014 the Asian Paints scrip has significantly outperformed the S&P BSE Sensex, as per the sources.

According to the industry experts, for Asian paints the fall in crude prices are just one of the positives that has not just maintained its leadership position in the Indian decorative paints market about 80% of its revenues, but has also managed to increase its volume market share to 54%.

Industrial coating manufacturers are reporting that oil and gas and general maintenance segments are key areas with the most growth potential. Presently environmental legislation and the move toward more water-based technologies are driving the market for industrial coatings and customers are also looking for the highly durable product with best protection of environmental legislation.

Manufacturers noted that improved efficiencies in terms of light weight products and better application are the keys to growth in this high tech market. Source said that this fiscal automotive production will boost approx three to four percent based on economic forecast. To heighten the growth of this sector coating manufacturers are working on the products that have high temperate resistance which will escalate the market.