Product Code: ETC017564 | Publication Date: Aug 2023 | Updated Date: May 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
India Paints market currently, in 2023, has witnessed an HHI of 796, Which has decreased slightly as compared to the HHI of 853 in 2017. The market is moving towards highly competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
India is one of the largest paint markets in Asia. It has been estimated that the Indian paints industry will grow at a CAGR of 15.1% until 2026, with an increase in demand from both industrial and residential sectors. The market for decorative paints was worth Rs 64,000 crore in 2019 and is expected to reach Rs 1 lakh crore by 2021. The automotive coatings segment also witnessed strong growth over the years due to increased vehicle production in India as well as increasing preference for premium cars among consumers.
1) Growing construction activities: The Indian paints industry has been growing steadily due to rising infrastructure investments across the country, especially in Tier-II cities where there are large government-funded projects such as Metro rail systems and highways. This has led to an increased demand for interior and exterior wall painting services from residential as well as commercial buildings which has boosted sales of various types of paints such as emulsions, enamels, etc., used for walls & ceilings.
2) Increasing disposable incomes: With increasing per capita income levels amongst urban households coupled with changing lifestyles have resulted in higher spending on home d?cor products like furniture or wallpapers which further accelerates the demand for high quality paint products which enhances design aesthetics along with providing protection against weathering effects also knowns driving force behind this trend is emergence of new technologies like water based latex formulations which provide superior performance at lower cost than other formulations available resulting into higher affordability for end users making them switch to these product lines.
1) Rising raw material costs - Price hikes associated with certain key raw materials such as titanium dioxide impacts prices & profitability negatively since most manufacturers cannot pass on entire price hike onto customers leading to decline margins if economy trends are not favorable during those periods leading manufactures resorting reducing their output or limiting expansion plans while waiting out till situation normalizes again
2) Low Penetration In Rural Areas - Low penetration levels coupled with low awareness about latest technology & products available hinder its adoption rate specially within rural areas where people still prefer traditional options impacting growth potentiality even though they account majority share population wise but not contributing equally when it comes revenue .
Increasing Digitalisation ? Use digital marketing platforms have become common place now days enabling companies target specific audience more efficiently helping them maximize returns while minimizing expenditure thus helps expanding customer base without investing much .
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Paints Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Paints Market Revenues & Volume, 2020 & 2030F |
3.3 India Paints Market - Industry Life Cycle |
3.4 India Paints Market - Porter's Five Forces |
3.5 India Paints Market Revenues & Volume Share, By Resin, 2020 & 2030F |
3.6 India Paints Market Revenues & Volume Share, By Technology, 2020 & 2030F |
3.7 India Paints Market Revenues & Volume Share, By Application, 2020 & 2030F |
4 India Paints Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Paints Market Trends |
6 India Paints Market, By Types |
6.1 India Paints Market, By Resin |
6.1.1 Overview and Analysis |
6.1.2 India Paints Market Revenues & Volume, By Resin, 2020-2030F |
6.1.3 India Paints Market Revenues & Volume, By Acrylic, 2020-2030F |
6.1.4 India Paints Market Revenues & Volume, By Alkyd, 2020-2030F |
6.1.5 India Paints Market Revenues & Volume, By Epoxy, 2020-2030F |
6.1.6 India Paints Market Revenues & Volume, By Polyurethane, 2020-2030F |
6.1.7 India Paints Market Revenues & Volume, By Polyester, 2020-2030F |
6.2 India Paints Market, By Technology |
6.2.1 Overview and Analysis |
6.2.2 India Paints Market Revenues & Volume, By Waterborne, 2020-2030F |
6.2.3 India Paints Market Revenues & Volume, By Solventborne, 2020-2030F |
6.2.4 India Paints Market Revenues & Volume, By Powder, 2020-2030F |
6.3 India Paints Market, By Application |
6.3.1 Overview and Analysis |
6.3.2 India Paints Market Revenues & Volume, By Architectural, 2020-2030F |
6.3.3 India Paints Market Revenues & Volume, By Industrial, 2020-2030F |
7 India Paints Market Import-Export Trade Statistics |
7.1 India Paints Market Export to Major Countries |
7.2 India Paints Market Imports from Major Countries |
8 India Paints Market Key Performance Indicators |
9 India Paints Market - Opportunity Assessment |
9.1 India Paints Market Opportunity Assessment, By Resin, 2020 & 2030F |
9.2 India Paints Market Opportunity Assessment, By Technology, 2020 & 2030F |
9.3 India Paints Market Opportunity Assessment, By Application, 2020 & 2030F |
10 India Paints Market - Competitive Landscape |
10.1 India Paints Market Revenue Share, By Companies, 2023 |
10.2 India Paints Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |