India Paints and Coatings Market

Market Overview:

India paints and coatings market size reached US$ 610.3 Million in ​2023​. Looking forward, IMARC Group expects the market to reach US$ 1,326.8 Million by ​2032​, exhibiting a growth rate (CAGR) of 8.70% during 2024-2032. The rising infrastructure development, the increasing urbanization levels, and the evolving consumer preferences for durable and environmentally conscious solutions are primarily driving the market growth across the country.

Paints are liquids containing pigments applied to enhance substrate aesthetics, while coatings serve to improve surface properties and prevent substrate deterioration. Common product variations encompass waterborne, powder, high solids, radiation curing, and solvent-borne coatings. These substances are commonly employed for enhancing the appearance of industrial equipment, residential and non-residential structures, and buildings. Paints and coatings showcase properties such as anti-fouling, flame retardancy, and anti-microbial characteristics. They play a crucial role in safeguarding surfaces from adverse environmental conditions, weathering, rust, and chemical exposure. Consequently, their applications span various industries including marine, construction, automobile, and transportation.

India Paints and Coatings Market Trends:

The paints and coatings market in India is experiencing dynamic growth, propelled by a burgeoning construction sector, increased urbanization, and a growing focus on infrastructure development. This market encompasses a diverse range of products, including waterborne, powder, high solids, radiation curing, and solvent-borne coatings, as well as various types of paints. One of the key drivers for the expansion of the paints and coatings market in India is the construction boom. Moreover, with rapid urbanization and a surge in real estate development, there is a heightened demand for decorative and protective coatings to enhance the durability and visual appeal of buildings. Additionally, infrastructure projects, including bridges, highways, and airports, contribute to the escalating need for coatings that provide resistance against environmental factors, such as corrosion, weathering, and chemical exposure. The automotive industry is another significant contributor to the demand for paints and coatings. As the number of vehicles on Indian roads continues to rise, there is a parallel increase in the need for coatings that offer corrosion protection and aesthetic enhancements. Furthermore, the paints and coatings industry in India is witnessing a shift toward environmentally friendly and sustainable solutions. Besides this, with applications spanning construction, automotive, and industrial sectors, the market across the country is poised for continued growth in the coming years.

India Paints and Coatings Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on product, material, and application.

Product Insights:

• Waterborne Coatings
• Solvent-borne Coatings
• Powder Coatings
• High Solids/Radiation Curing
• Others
   

The report has provided a detailed breakup and analysis of the market based on the product. This includes waterborne coatings, solvent-borne coatings, powder coatings, high solids/radiation curing, and others.

Material Insights:

• Acrylic
• Alkyd
• Polyurethane
• Epoxy
• Polyester
• Others
   

A detailed breakup and analysis of the market based on the material have also been provided in the report. This includes acrylic, alkyd, polyurethane, epoxy, polyester, and others.

Application Insights:

• Architectural and Decorative
• Non-Architectural
  • Automotive and Transportation
  • Wood
  • General Industrial
  • Marine
  • Protective
  • Others
     

The report has provided a detailed breakup and analysis of the market based on the application. This includes architectural and decorative and non-architectural (automotive and transportation, wood, general industrial, marine, protective, and others).

Regional Insights:

• North India
• West and Central India
• South India
• East and Northeast India
   

The report has also provided a comprehensive analysis of all the major regional markets, which include the North India, West and Central India, South India, and East and Northeast India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Paints and Coatings Market Report Coverage:

Key Questions Answered in This Report:

• How has the India paints and coatings market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the India paints and coatings market?
• What is the breakup of the India paints and coatings market on the basis of product?
• What is the breakup of the India paints and coatings market on the basis of material?
• What is the breakup of the India paints and coatings market on the basis of application?
• What are the various stages in the value chain of the India paints and coatings market? 
• What are the key driving factors and challenges in the India paints and coatings?
• What is the structure of the India paints and coatings market and who are the key players?
• What is the degree of competition in the India paints and coatings market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India paints and coatings market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the India paints and coatings market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India paints and coatings industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.