Please Wait.....
Report
India Paints And Coatings - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2025 - 2030)
Market Report I 2025-04-28 I 80 Pages I Mordor Intelligence
The India Paints And Coatings Market size is estimated at USD 10.46 billion in 2025, and is expected to reach USD 16.37 billion by 2030, at a CAGR of 9.38% during the forecast period (2025-2030).
COVID-19 hampered the paint industry market in India. With economic uncertainties and a slowdown in various sectors such as real estate, construction, and automotive, the demand for paints decreased significantly. Many construction projects were halted or delayed, leading to reduced demand for decorative and industrial paint. As economic activities gradually resumed and construction projects restarted, the demand for paints in the construction and real estate sectors began to recover.
Factors such as the growing demand from the construction industry, coupled with the recovering automotive industry, are driving the demand for the paint industry in India.
On the flip side, fluctuations in raw material prices and stringent environmental regulations regarding volatile organic compounds (VOC) are likely to hamper the market's growth.
The use of nanotechnology in the paints and coatings industry and the rising demand for eco-friendly paints are expected to offer various market growth opportunities during the forecast period.
India Paints And Coatings Market Trends
Architectural Industry to Dominate the Market
- Architectural coatings are used for commercial purposes, such as office buildings, warehouses, retail convenience stores, shopping malls, and residential buildings. These coatings can be applied on outer and inner surfaces and include sealers or specialty products.
- India has been experiencing rapid urbanization and infrastructure development, which has led to a surge in construction projects. Thus, this has directly increased the demand for architectural paints used in buildings and structures.
- The residential sector in the country is on an increasing trend, with government support and initiatives that are further boosting the demand. For instance, the Ministry of Housing and Urban Development (MoHUA) allocated the funds of INR 76,549.46 crore in the 2022-23 budget for the construction of houses and the creation of funds in order to complete the halted projects.
- Furthermore, according to Business Today, the government has allocated INR 80,671 crore for initiatives, such as the Pradhan Mantri Awas Yojana (PMAY) program, which is intended to provide affordable homes to many people. Also, the government offers subsidies for interest on housing loans if the citizens wish to build or buy their first house.
- According to the Economic Times, in July - September 2023, compared with a year earlier, the construction sector grew by 13.3%, up from 7.9% in the previous quarter and its best performance in five quarters.
- Home sales in India's seven most prominent cities, including Mumbai, New Delhi, and Bangalore, increased by 36% in the July-September quarter in 2023 from the previous year to more than 112,000 units, with an 8-18% increase in prices, according to data released by the Economic Times.
- Also, the country is expanding its commercial sector, which has a positive impact on the architectural emulsion coatings market.
- Hence, according to the factors mentioned above, the demand for paints from the architectural segment is expected to witness robust growth in India in the upcoming period.
Acrylic Resin Segment to Dominate the Market
- Acrylic paints have excellent gloss and color retention along with excellent durability and good adhesion to many substrates. Acrylic paints are also the major architectural paints.
- The application of acrylic coatings is significant in the construction industry for bridges, high-end finishing in roofs, floors, decks, and other applications. Furthermore, water-based acrylic coatings are in huge demand due to their environmental concerns, which include the adverse effect of volatile organic compounds (VOCs) on the environment.
- In the automotive industry, acrylic coatings have applications in both interior and exterior surfaces. Acyclic-based paints are mainly used as bases and topcoats for automotive OEM exterior applications. In recent years, the automotive sector has been growing at a faster rate, which has led to an increase in the growth of acrylic automotive paint.
- For instance, according to data published by the Indian Brand Equity Foundation (IBEF), India produced 22.93 million vehicles in the financial year 2022.
- Moreover, automobile exports in India reached 4,761,487 in the financial year 2023.
- According to the data published by the National Investment Promotion and Facilitation Agency (Invest India), the Government of India has allocated USD 9.81 billion for the development of Gift City in Gujarat, India, which is expected to be completed by 2025.
- Thus, the positive factors mentioned above are expected to increase the demand for acrylic resin in the country's paints and coatings market over the forecast period.
India Paints And Coatings Industry Overview
The Indian paints and coatings markets are highly consolidated in nature. Some of the major players in the market (not in any particular order) include Asian Paints, Berger Paints India Limited, Kansai Nerolac Paints Limited, Akzo Nobel NV, and Nippon Paint Holding Co. Ltd.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Construction Industry in the Country
4.1.2 Recovery of The Automotive Industry
4.2 Restraints
4.2.1 Fluctuation in the Raw Material Prices
4.2.2 Stringent Environmental Regulations Regarding Volatile Organic Compounds (VOC)
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION (Market size in Value)
5.1 Technology
5.1.1 Water-borne Coatings
5.1.2 Solvent-borne Coatings
5.1.3 Powder Coatings
5.1.4 Radiation Cured Coatings
5.2 Resin Type
5.2.1 Acrylic
5.2.2 Alkyd
5.2.3 Polyurethane
5.2.4 Epoxy
5.2.5 Polyester
5.2.6 Other Resin Types (Vinyl, Latex)
5.3 End-user Industry
5.3.1 Architectural
5.3.2 Automotive
5.3.3 Wood
5.3.4 Protective Coatings
5.3.5 General Industrial
5.3.6 Transportation
5.3.7 Packaging
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Akzo Nobel N.V.
6.4.2 Asian Paints
6.4.3 Berger Paints India Limited
6.4.4 Indigo Paints
6.4.5 Jotun
6.4.6 JSW PAINTS
6.4.7 KAMDHENU COLOUR AND COATINGS LIMITED (KCCL)
6.4.8 Kansai Nerolac Paints Limited
6.4.9 Nippon Paint Holding Co. Ltd
6.4.10 Shalimar Paints
6.4.11 Sheenlac Paints Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Use of Nanotechnology in the Paints and Coatings Industry
7.2 Rising Demand for Eco-friendly Paints
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security