Indian paints & coatings industry projected to reach Rs 1 tn in 5 years
Paint

Indian paints & coatings industry projected to reach Rs 1 tn in 5 years

According to Akzo Nobel India, the Indian paints & coatings industry is expected to expand to Rs 1 lakh crore in the next five years, up from its current value of Rs 620 billion. This information was revealed by Akzo Nobel India in a recent statement.

Furthermore, the latest annual report of Akzo Nobel India, a prominent player in the sector, stated that the margin for the paints & coatings industry would improve. In FY23, the industry experienced a decline in raw material prices compared to their previous highs. The report mentioned that this development resulted in improved margins for the industry, considering that raw materials make up approximately 55-60% of the input costs.

The report also highlighted that the entry of several new players into the industry has made it an attractive sector. These newcomers are actively investing in infrastructure, technology, and marketing to establish their presence and gain a market share. The report stated that this increased competition has compelled existing players to enhance their capabilities and differentiate themselves in order to maintain their market position. As a result, there has been a surge in investment activity within the industry.

Over the past few years, companies such as Grasim Industries, Pidilite, and JSW have entered the paints & coatings segment, competing with established manufacturers such as Asian Paints, Berger Paints, Kansai Nerolac, and Akzo Nobel India. These companies collectively control nearly three-fourths of the market.

The report mentioned that the industry's size is estimated to grow from Rs 620 billion to Rs 1 trillion over the next five years.

The paints & coatings industry is divided into two categories: the architectural segment and the industrial segment. The architectural segment dominates the industry, accounting for approximately 69% of paint consumption based on volume. This segment primarily serves residential, commercial, and institutional construction projects, as well as repainting and renovation projects.

The remaining 31% of paint consumption comes from the industrial segment, which is experiencing a growing share due to various factors.

The report explained that the industrial sector's robust growth, combined with the strong fundamentals of consumer durables, automobiles, and allied industries, has driven the demand for industrial coatings. These coatings find applications in sectors such as automotive, infrastructure, machinery and equipment, functional and domestic appliances, and packaging.

Regarding the future outlook, Akzo Nobel India, operating in the industry through the Dulux brand, stated that the prospects of the paints & coatings industry are closely tied to the overall growth of the country's economy. Several factors, including income levels, industrial production, and infrastructure development, influence the industry's prospects.

Also read:
SECL to develop closed coal mine in Korba District as Eco-Tourism Spot
NTPC's captive coal mines production surges to 8.48 MMT in Apr-Jun


According to Akzo Nobel India, the Indian paints & coatings industry is expected to expand to Rs 1 lakh crore in the next five years, up from its current value of Rs 620 billion. This information was revealed by Akzo Nobel India in a recent statement. Furthermore, the latest annual report of Akzo Nobel India, a prominent player in the sector, stated that the margin for the paints & coatings industry would improve. In FY23, the industry experienced a decline in raw material prices compared to their previous highs. The report mentioned that this development resulted in improved margins for the industry, considering that raw materials make up approximately 55-60% of the input costs. The report also highlighted that the entry of several new players into the industry has made it an attractive sector. These newcomers are actively investing in infrastructure, technology, and marketing to establish their presence and gain a market share. The report stated that this increased competition has compelled existing players to enhance their capabilities and differentiate themselves in order to maintain their market position. As a result, there has been a surge in investment activity within the industry. Over the past few years, companies such as Grasim Industries, Pidilite, and JSW have entered the paints & coatings segment, competing with established manufacturers such as Asian Paints, Berger Paints, Kansai Nerolac, and Akzo Nobel India. These companies collectively control nearly three-fourths of the market. The report mentioned that the industry's size is estimated to grow from Rs 620 billion to Rs 1 trillion over the next five years. The paints & coatings industry is divided into two categories: the architectural segment and the industrial segment. The architectural segment dominates the industry, accounting for approximately 69% of paint consumption based on volume. This segment primarily serves residential, commercial, and institutional construction projects, as well as repainting and renovation projects. The remaining 31% of paint consumption comes from the industrial segment, which is experiencing a growing share due to various factors. The report explained that the industrial sector's robust growth, combined with the strong fundamentals of consumer durables, automobiles, and allied industries, has driven the demand for industrial coatings. These coatings find applications in sectors such as automotive, infrastructure, machinery and equipment, functional and domestic appliances, and packaging. Regarding the future outlook, Akzo Nobel India, operating in the industry through the Dulux brand, stated that the prospects of the paints & coatings industry are closely tied to the overall growth of the country's economy. Several factors, including income levels, industrial production, and infrastructure development, influence the industry's prospects. Also read: SECL to develop closed coal mine in Korba District as Eco-Tourism Spot NTPC's captive coal mines production surges to 8.48 MMT in Apr-Jun

Next Story
Infrastructure Urban

Thanjavur to Turn Garbage Dump into Eco-Park Under CITIIS 2.0

The Thanjavur City Corporation plans to convert its 28-acre garbage dump at the Chekkadi compost yard into an eco-park under the CITIIS 2.0 programme by the Union Ministry of Housing and Urban Affairs. The project involves bio-capping around 2 lakh cubic metres of legacy waste at an estimated cost of $3.6 million. This will include leveling mounds, adding soil layers, and installing systems to prevent groundwater contamination. A Waste Processing Facility (WPF) worth $2.4–$3.6 million will also be established to handle non-biodegradable waste. Additionally, 12 existing and six proposed mic..

Next Story
Infrastructure Transport

Ceigall India Secures $111 Million Contract for Ludhiana Bypass

Infrastructure company Ceigall India Ltd has secured a significant contract from the National Highways Authority of India (NHAI) for the development of a six-lane greenfield southern Ludhiana bypass. The company received the Letter of Award (LOA) on March 13, 2025, according to a stock exchange filing. The project, part of the Ludhiana-Ajmer Economic Corridor, involves developing a 25.24 km stretch from NH44 near Village Rajgarh to the Delhi-Katra Expressway (NE 5) near Village Ballowal. Awarded under the Hybrid Annuity Mode (HAM), the project's estimated cost is approximately $104 million, ..

Next Story
Infrastructure Transport

J&K Plans New Srinagar-Pahalgam Road to Boost Tourism

The Jammu & Kashmir Public Works (R&B) Department has announced plans to construct an alternative road from Srinagar to Pahalgam via Khrew, Wahab Sahib, Syedabad (Pastuna), Karmula Tral, and Lehndajan. The new route is expected to reduce the travel distance between Srinagar and Pahalgam by approximately 30 kilometers, enhancing connectivity and promoting tourism in the lesser-explored upper regions of Tral. The project was discussed in response to a Starred Assembly Question raised by MLA Pampore, retired Justice Hasnain Masoodi. The Minister Incharge highlighted that the initiative would boo..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?