This Holi, we’d like to bring you an analysis of India’s vibrant, but fiercely competitive Paints Industry.
The Indian paint and coating industry continues to experience a growth of over 15%. The demand is being driven by rapid infrastructure activities and growing demand from the construction industry coupled with the use of nanotechnology. However, a plunge in automotive production & sales is likely to hamper the growth.
The construction industry in India is expected to grow at about 7.1%, which will make it the third-largest on a global level by the end of 2025, which is expected to drive the consumption of paints and coatings in the country even more.
The industry has been witnessing various innovations, such as the development of anti-microbial and hydrophobic paint, that are finding use-cases in the unlikeliest of places. Continuous innovation and exploring new markets will be the key to growth in an industry that is as competitive as this one. As the industry invests heavily in R&D we can expect to see more sustainable products on the shelves.
What do you think? Would you go for a sustainable paint option?