NOIDA, India - Over the past few years, the Indian coatings market has grown substantially, catching the attention of many international players. The growth in the market is driven by the emergence of the middle class in India, a growing infrastructure, the increase in the tendency to spend and a younger population inclined towards a more upscale lifestyle. With this growth, t is anticipated that the sector will post a CAGR of around 16.2 percent during 2013-14 to 2015-16, according to a new research report, Booming Paint Industry in India.
The report was compiled using extensive primary and secondary research spanning over six months, and thorough analysis of industry trends. For the study, researchers conducted interviews with industry experts such as members of Indian Paint Association and coatings manufacturers. In addition, they interviewed more than 200 paint dealers and consumers all over India to learn about industry trends.
The report segregates the coatings industry into two types – decorative and industrial paints. The decorative paint market has been further segmented into emulsions, enamel, distemper and cement paints. Similarly, the industrial paint market is also segmented into automotive coatings, high-performance coatings, powder coatings and coil coatings.
The various types of decorative paints have been further analyzed to understand the market size and future potential of various sub-segments such as plastic emulsions, textured emulsions, synthetic enamels and acrylic distempers. The report also classifies the decorative paint market by product class: premium paints, mid-tier paints and economy paints. Growth of the industry is being spured by new demand, especially in tier-two and tier-three cities, signaling a growing acceptance of quality products. Researchers have closely studied and provided market forecast till 2015-16 of all sub-segments and product classes.
With the growth of paint industry, the market for raw material is also intensifying in India. A comprehensive analysis and forecasting till 2015-16 of the raw material market is also included, focusing on major segments such as pigments, solvents, binders and additives.
The report also analyzes prominent industry players such as Asian Paints, Kansai Nerolac, Berger Paints and others, providing a balanced research outlook of the industry. The section covers companies' business overview, product portfolio, key financials and industry activities.
For more information about the report, visit www.rncos.com.