Region:Asia
Author(s):Sanjna
Product Code:KROD907
The India Paints & Coatings Market can be segmented based on several factors:
By Product Type: The India paints & coatings market is segmented by product type into decorative paints, industrial coatings and specialty coatings. In 2023, decorative paints reign as the most dominant sub-segment, holding a substantial market share. Decorative paints dominate the market due to the high demand for residential and commercial applications, driven by the increasing urban population and real estate developments.
By Technology: The India paints & coatings market is segmented by technology into water-based coatings, solvent based coatings and powder coatings. In 2023, Water-based Coatings emerges as the most dominant sub-segment, commanding a significant percentage of the market share. Water-based coatings lead the market due to their lower environmental impact and compliance with regulatory standards.
By Region: India paints & coatings market is segmented by region into north, south, east & west regions. In 2023 West region prevails with a significant market share. West India, comprising states like Maharashtra and Gujarat, is a major industrial hub. These cities host a significant number of manufacturing industries, including automotive, textiles, chemicals, and pharmaceuticals.
Company |
Establishment Year |
Headquarters |
Asian Paints |
1942 |
Mumbai, Maharashtra |
Berger Paints |
1923 |
Kolkata, West Bengal |
Kansai Nerolac |
1920 |
Mumbai, Maharashtra |
AkzoNobel India |
1933 |
Gurugram, Haryana |
Shalimar Paints |
1902 |
Gurugram, Haryana |
India Paints & Coatings Market Growth Drivers:
India Paints & Coatings Market Challenges:
India Paints & Coatings Market Government Initiatives:
India Paints & Coatings market is projected to grow significantly, driven by continuous urbanization, rising disposable incomes, and significant infrastructure developments.
Future Market Trends
By Product Type |
Decorative Paints Industrial Coatings Specialty Coatings |
By Technology |
Water-based Coatings Solvent based Coatings Powder Coatings |
By Region |
North  South East West |
1.1 India Paints & Coatings Market Taxonomy
3.1 India Paints & Coatings Market Growth Drivers
3.2 India Paints & Coatings Market Challenges and Issues
3.3 India Paints & Coatings Market Trends and Development
3.4 India Paints & Coatings Market Government Regulation
3.5 India Paints & Coatings Market SWOT Analysis
3.6 India Paints & Coatings Market Stake Ecosystem
3.7 India Paints & Coatings Market Competition Ecosystem
4.1 India Paints & Coatings Market Segmentation by Product Type (in value %), 2023
4.2 India Paints & Coatings Market Segmentation by Technology (in value %), 2023
4.3 India Paints & Coatings Market Segmentation by Region (in value %), 2023
5.1 India Paints & Coatings Market Cross-Comparison (no. of employees, company overview, business strategy, USP, recent development, operational parameters, financial parameters and advanced analytics)
7.1 India Paints & Coatings Market Segmentation by Product Type (in value %), 2028
7.2 India Paints & Coatings Market Segmentation by Technology (in value %), 2028
7.3 India Paints & Coatings Market Segmentation by Region (in value %), 2028
8.1 India Paints & Coatings Market TAM/SAM/SOM Analysis
8.2 India Paints & Coatings Market Customer Cohort Analysis
8.3 India Paints & Coatings Market Marketing Initiatives
8.4 India Paints & Coatings Market White Space Opportunity Analysis
Ecosystem creation for all the major entities and referring to multiple secondary and proprietary databases to perform desk research around market to collate industry level information.Â
Collating statistics on India paints & coatings market over the years, penetration of marketplaces and service providers ratio to compute revenue generated for India Paints & Coatings Market. We will also review service quality statistics to understand revenue generated which can ensure accuracy behind the data points shared.Â
Building market hypothesis and conducting CATIs with industry experts belonging to different companies to validate statistics and seek operational and financial information from company representatives.Â
Our team will approach multiple paints & coatings suppliers and distributors companies and understand nature of product segments and sales, consumer preference and other parameters, which will support us validate statistics derived through bottom to top approach from paints & coatings suppliers and distributors companies.
The India Paints & Coatings Market was valued at USD 8.3 Bn in 2023, driven by rapid urbanization, increasing disposable incomes, and a booming real estate sector.
The key challenges faced by the India Paints & Coatings Market are price fluctuation and high competition. This intense competition pressures companies to continuously innovate and offer competitive pricing, impacting profit margins.
Some of the major players in the India Paints & Coatings Market include Asian Paints, Berger Paints, Kansai Nerolac Paints and Shalimar Paints. These companies dominate the market through extensive distribution networks, continuous product innovation, and strong brand recognition.
Key growth drivers of India paints and coatings market are urbanization and infrastructural development, middle class population & industrial production. The demographic shift towards middle class leads to increased home ownership and renovation activities, fueling the market for premium interior and exterior paints.
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