The new lab will primarily focus on application areas such as automotive OEMs, automotive refinishing, plastic coatings, protective coatings, wood finishes and general industrial coatings.
Satish Shenoy, Country Representative for the Coatings, Adhesives and Sealants business unit, Indian Subcontinent, commented, “Our target market in the short and medium term is the non-architectural coatings market, which is mainly the industrial, automotive, protective and wood coatings market segments. The total size of these market segments is approximately 280 KT. Out of this, approximately eight percent is currently based on PU chemistry. Overall, these market segments are currently growing at 12-13 percent per annum. We intend to grow faster than the market, which can only happen if we convert coatings based on conventional and competing chemistries to PU.”