LONDON – Industry research firm IRL announced the publication of a new edition of its Profile of the Indian Paint Industry. India is the seventh-largest country and the largest democracy in the world. It is one of the fastest-growing economies in the world, second only to China. India is also the second-largest paint market in Asia with an annual demand of over two million tonnes, again second only to China.

Demand for coatings in India has been estimated at 2,205,000 tonnes in 2011. Decorative coatings account for nearly 78 percent of the market in terms of volume and about 70 percent in value, while automotive coatings, both OEM and refinishes, dominate the industrial segment, followed by high-performance protective coatings and powder coatings.