Published on July 17, 2018
Indian paint sector is moving with soft velocity because of rainy season across the country. Because of slow demand, stipulation for all the upstream chemicals also has been bearish. Some market players have said that after the rainy season in the coming month Sep- Oct demand for paint sector again will take an affirmative boost and decorative paint stipulation will go up as presently consumers will look for innovative textures only.
As per market players, despite, the current low per capita consumption, the Indian paint and coatings industry holds a great promise for the domestic and international paint producers in the country. Growing popularity of value added paints in rural areas and a number of ambitious schemes of infrastructure development by central and state governments will provide promising opportunities in near term for paint industry in India.
The Indian paint market is anticipated to reach INR 70 875crores by 2019-20. The decorative paint market is expected to witness CAGR of 12.7% and the industrial paint market is expected to witness CAGR of 9.5%.