India Paints and Coatings Market size was valued at USD 14.53 Billion in 2023 and the total India Paints and Coatings Market revenue is expected to grow at a CAGR of 9.13% from 2024 to 2030, reaching nearly USD 26.78 Billion by 2030.
India Paints and Coatings Market Overview:
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Mergers and Acquisitions in the India Paints and Coatings Industry:
The global paints and coatings industry has witnessed significant mergers and acquisitions aimed at consolidating market positions and expanding product portfolios:
- India: Grasim Industries entered the paints sector with its Birla Opus brand, intensifying competition and leading existing players to adjust pricing strategies to maintain market share.
- South Asia: AkzoNobel, the maker of Dulux paint, announced a review of its business portfolio in South Asia, focusing on its decorative paints segment. This strategic move aims to explore options such as partnerships, joint ventures, mergers, or divestitures to strengthen its position in the region.
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Key Developments in the India Paints and Coatings Market:
Several countries have undertaken strategic initiatives to strengthen their positions in the paints and coatings market:
- Vietnam: The Vietnamese paints and coatings market is expanding due to increased construction activities and foreign investments, leading to the establishment of new manufacturing facilities and partnerships with international companies.
- Thailand: Thailand’s market is growing, driven by urbanization and infrastructure projects, with local and international companies investing in production capacity and product innovation.
- Singapore: Singapore serves as a hub for research and development in advanced coatings technologies, attracting investments from global players aiming to develop sustainable and high-performance products.
- Japan: Japanese companies are focusing on eco-friendly and high-durability coatings, leveraging advanced technologies to cater to both domestic and international markets.
- South Korea: South Korean manufacturers are investing in smart coatings and nanotechnology, aiming to enhance product performance and expand their global footprint.
- European Union: The EU is emphasizing sustainable and low-VOC paints, with companies investing in green technologies and expanding through strategic acquisitions to strengthen their market presence.
- United States: The U.S. market is characterized by innovation in protective and specialty coatings, with companies engaging in mergers and acquisitions to diversify their product offerings and enter new markets.
India Paints and Coatings Market Segmentation:
by Resin Type
Acrylic Resins
Alkyd
Epoxy
Polyester
Others (Silicone, Polyolefin, etc.)
Epoxy resins are widely utilized in the paint and coating industries on heavy-duty metal substrates due to their benefits, such as using less energy than conventional heat-cured powder coatings. Epoxy resin-based paints and varnishes are also thought to be less harmful to the environment than others. Epoxy resin-based paints and coatings are utilized in a variety of applications, including food storage and manufacturing walls, swimming pool finishes, seal coats, tank lining, wet rooms, waterproofing and ornamental finishes, and water treatment facilities.
by Technology
Water-Based Technology
Solvent-Based Technology
Powder Coatings
UV Cured Coatings
Solvent-based technology dominates the India paint and coatings business. Solvent-borne coatings are less susceptible to external variables such as temperature during the cure period. Solvent-borne coatings produce good results even in humid situations because they cure effectively as a result of a chemical reaction between ambient oxygen and the chemical constituents. However, due to government regulations on VOC emissions and their bad impacts on human health, manufacturers and players are looking for eco-friendly substitutes, limiting the growth of the solvent-borne market.
by Paint Category
Decorative
Industrial (Application and types)
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India Paints and Coatings Market Key Players:
1. Asian Paints (Mumbai)
2. Kansai Nerolac Paints Ltd. (Mumbai)
3. Berger Paints India Ltd. (Kolkata)
4. Akzo Nobel India Ltd. (Gurugram)
5. Shalimar Paints Ltd. (Gurugram)
6. Nippon Paint India Pvt. Ltd. (Chennai)
7. Jotun India Pvt. Ltd. (Pune)
8. Indigo Paints Ltd. (Pune)
9. Pidilite Industries Ltd. (Mumbai)
10. British Paints (New Delhi)
11. Snowcem Paints (Mumbai)
12. Sheenlac Paints (Chennai)
13. Ess Ess Paints Pvt. Ltd. (New Delhi)
14. BASF India Ltd. (Mumbai)
15. Apollo Paints Pvt. Ltd. (Hyderabad)
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India Paints and Coatings Market Regional Insights :
The size and trends in the India Paints and Coatings market in each of the following regions are thoroughly examined in this research: North America (which includes the United States, Canada, and Mexico); Europe (which includes France, Spain, Germany, Italy, and other European countries); Asia-Pacific (which includes China, Japan, India, Australia, South Korea, ASEAN countries, and others APAC countries); South America (which includes Argentina, Brazil, and other South American countries); and Middle East and Africa (which includes South Africa, Egypt, and other MEA countries).
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Your Ultimate Guide: Key Questions Answered in the Latest Market Report:
- What is India Paints and Coatings?
- What was the India Paints and Coatings market size in 2023?
- Which are the factors expected to drive the India Paints and Coatings market growth?
- Who are the leading companies and what are their portfolios in India Paints and Coatings Market?
- What growth strategies are the players considering to increase their presence in India Paints and Coatings?
- What are the upcoming industry applications and trends for the India Paints and Coatings Market?
- What will be the CAGR at which the India Paints and Coatings market will grow?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the India Paints and Coatings Market?
- What are the different segments of the India Paints and Coatings Market?
- What is the growth rate of the India Paints and Coatings market?
- What segments are covered in the India Paints and Coatings Market?
- Who are the key players in the India Paints and Coatings market?
- What are the key challenges and opportunities in the India Paints and Coatings market?
- Which application holds the highest potential in the India Paints and Coatings market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by different segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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