Coatings Industry in India Offers Opportunities for Growth
NEW DELHI, India - Gyan Research and Analytics Pvt. Ltd. has released a new study of the coatings industry in India that indicates there are many opportunities for growth, due in part to India’s lower per-capita coatings consumption compared to the rest of Asia. The study reports that India is emerging as one of the major participants in the global paints and coatings industry, with a market value of $4.79 billion in 2012 and growing at a CAGR of 13% for the last five years.
The size of the industry in volume terms is 3.1 million metric tons, with decorative coatings at 2.4 million metric tons and industrial coatings at 0.7 million metric tons.