India Paint Market Overview

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: 5.30% (2024-2032)

The India paint market is thriving, driven by urbanization, infrastructure projects, and rising consumer demand for decorative and industrial paints. According to the latest report by IMARC Group, the market is projected to exhibit a growth rate (CAGR) of 5.30% during 2024-2032. The study provides a detailed analysis of the industry, including the India paint market share, size, trends, and growth forecast.

India Paint Market Trends and Drivers:

The India paint market is expanding significantly, owing to rising construction and real estate activities due to rapid urbanization and infrastructural development throughout the nation. Besides this, the increase in both residential and commercial construction projects has drastically raised the need for paints and coatings. Additionally, the initiatives of government bodies, such as 'Housing for All' and 'Smart Cities Mission', are further propelling market growth by encouraging the development of modern infrastructure.

In line with this, the rising disposable incomes and improving living standards of the population are also contributing to the expansion of the India paint market as individuals invest in home renovations and aesthetic enhancements. Moreover, the growing awareness about the benefits of high-quality paints, such as durability and protection against environmental factors, is driving the preference for premium paint products.

Another significant trend in the India paint market is the increasing focus on eco-friendly and sustainable products. In addition, with rising environmental concerns, there is a growing demand for low-VOC (volatile organic compounds) and water-based paints, which are less harmful to the environment and human health. Furthermore, leading paint manufacturers are investing in research and development (R&D) to innovate and introduce new products that meet these sustainability criteria.

Apart from this, the expansion of the organized retail sector and e-commerce platforms is also facilitating easier access to a wide range of paint products, thereby driving market growth. As these trends continue to evolve, the India paint market is poised for significant expansion in the coming years.

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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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