Description
The Indian paint industry has been witnessing a gradual shift in the preferences of people from the traditional whitewash to higher quality paints like emulsions and enamel paints, which is providing the basic stability for growth of Indian paint industry. Besides, it is creating a strong competitive market, where players are utilizing different strategies to tap the growing demand in the market for a larger share. Moreover, rise in disposable income of the average middle class coupled with increasing investment on education; urbanization; development of the rural market; and various launches of many innovative products, like friendly, odor free, and dust & water resistant paints, are major drivers that are propelling the growth of the paint market in India. As per our report “India Paint Industry Outlook 2022”, provides study of Indian paints industry by value and volume, which is expected to grow at a CAGR of around 12% during 2016-17 to 2021-22 in value terms. The reports provide an in-depth detailed insight on the Indian decorative and industrial paint segment. Our research is an outcome of extensive primary & secondary research, where industry trends are being identified. For the study, we have analyzed industry expert insights from paint manufacturers, regional dealers and raw material suppliers, in order to build our macro and micro level understanding of the overall market and to explore opportunity in the prevailing market. As per the report finding, decorative paints has the maximum demand. Thus in the report a thorough study has been done on this segment, which has been segmented by application, by product class, by technology, by demand, by composition, by region and by tier cities. The report also discusses in detail the emulsion, enamel and distemper in decorative paint markets by value, volume, types, tier cities, etc.; along with analysis of raw material and roadblocks of the industry. Our research also depicts key trends and drivers of the industry. Moreover, the report also includes business overview of key industry players, such as Asian Paints, Kansai Nerolac, Berger Paints, Akzo Nobel and Shalimar, along with comprehensive outlook of the sector’s present and future scenario. Overall, the report is a result of extensive research and prudent analysis that will be offering suitable knowledge base to those who are interested in this industry.