India Paints and Coatings Market Size is Projected To Exhibit Growth Rate 8.70% CAGR During 2024-2032

India Paints and Coatings Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 8.70% (2024-2032)

The India paints and coatings market is driven by urbanization, infrastructure development, and rising consumer demand for decorative coatings. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 8.70% from 2024 to 2032.

India Paints and Coatings Market Trends and Drivers:

The expanding construction as well as real estate sectors are the factors contributing to the expansion of the India paints and coatings market. Additionally, rapid urbanization and infrastructure development projects are increasing the demand for paints and coatings used in residential, commercial, and industrial applications.

Besides this, the initiatives taken by government authorities, including the Smart Cities Mission and Housing for All, are further fueling this demand. Moreover, the rising disposable incomes and improving living standards are leading to higher consumer spending on home renovation and decor, boosting the decorative paints segment. Technological advancements along with the availability of a wide variety of colors and finishes are also attracting consumers and driving market growth.

Emerging trends in the India paints and coatings market include a significant shift towards eco-friendly and sustainable products. In addition to this, consumers and industries are increasingly opting for low-VOC (volatile organic compounds) and water-based paints that reduce environmental impact and improve indoor air quality, with growing environmental awareness thereby escalating the market.

The market is also seeing innovations such as anti-microbial and heat-reflective coatings, which offer additional functional benefits and are acting as another significant growth-inducing factor. Apart from this, the rise of e-commerce platforms is making it easier for consumers to access a variety of paint products and brands, driving online sales. The industrial segment is witnessing increased adoption of high-performance coatings that offer durability and resistance to harsh environmental conditions, which is anticipated to drive the India paints and coatings market over the forecasted period.

India Paints and Coatings Market Industry Segmentation:

The report has segmented the market into the following categories:

Breakup by Product:

• Waterborne Coatings

• Solvent-borne Coatings

• Powder Coatings

• High Solids/Radiation Curing

• Others

Breakup by Material:

• Acrylic

• Alkyd

• Polyurethane

• Epoxy

• Polyester

• Others

Breakup by Application:

• Architectural and Decorative

• Non-Architectural

o Automotive and Transportation

o Wood

o General Industrial

o Marine

o Protective

o Others

Breakup by Region:

• North India

• West and Central India

• South India

• East and Northeast India

Competitive Landscape:

The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.

Key highlights of the Report:

• Market Performance (2018-2023)

• Market Outlook (2024-2032)

• COVID-19 Impact on the Market

• Porter’s Five Forces Analysis

• Strategic Recommendations

• Historical, Current and Future Market Trends

• Market Drivers and Success Factors

• SWOT Analysis

• Structure of the Market

• Value Chain Analysis

• Comprehensive Mapping of the Competitive Landscape

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

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services.

IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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