India Paint Market Overview, Industry Growth Rate, Research Report 2024-2032

India Paint Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 5.30% (2024-2032)

India paint market is booming, driven by urbanization and increasing construction, with growth in demand for eco-friendly options. According to the latest report by IMARC Group, the market is projected to exhibit a growth rate (CAGR) of 5.30% during 2024-2032.

India Paint Market Trends and Drivers:

The India paint market is expanding rapidly, owing to increasing urbanization, infrastructure development, as well as the rising disposable income of the middle class. Besides this, paint and coating demand is enhancing due to the growth in both residential and commercial sectors. Additionally, the initiatives of government bodies like the "Housing for All" and "Smart Cities Mission" are further stimulating the expansion of the India paint market.

In line with this, the shift towards premium and eco-friendly products is noticeable as consumers become environmentally conscious and seek products that offer durability and aesthetics. Moreover, the expansion of the automotive industry is also a crucial driver, as it demands high-quality automotive coatings to enhance vehicle longevity and appearance.

Innovative product developments and technological advancements are prominent trends in the India paint market. In addition, manufacturers are increasingly focusing on research and development (R&D) to introduce advanced, sustainable, and multifunctional coatings. Consequently, the rise of nanotechnology and smart coatings that provide self-cleaning, anti-bacterial, and anti-corrosive properties are gaining traction.

Furthermore, the do-it-yourself (DIY) trend is also influencing the market, with a growing number of consumers opting for easy-to-apply paints and coatings. Apart from this, the digitalization of the paint supply chain and the expansion of e-commerce platforms are making it highly convenient for consumers to purchase a wide range of paint products online. These trends, coupled with a strong distribution network and strategic partnerships, are expected to drive the growth of the India paint market in the coming years.

India Paint Market Segmentation:

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India Paint Market Segmentation:

Technology Insights:

• Water-based

• Solvent-based

Type of Paint Insights:

• Emulsion

• Enamel

• Distemper

• Textures

• Others

Resin Insights:

• Acrylic

• Alkyd

• Polyurethane

• Epoxy

• Polyester

• Others

End User Insights:

• Architectural and Decorative

• Non-Architectural

o Automotive and Transportation

o Wood

o General Industrial

o Marine

o Others

Regional Insights:

• North India

• South India

• West and Central India

• East and Northeast India

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

• Asian Paints

• Berger Paints India Limited

• Kansai Nerolac Paints Limited

• Nippon Paint Holdings Co. Ltd

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Key Highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• Market Trends

• Market Drivers and Success Factors

• Impact of COVID-19

• Value Chain Analysis

• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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