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.