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Indian paint market expected to reach 49,545 INR Crs by 2016-2017: IPA study
Article Type: Industry news From: Pigment & Resin Technology, Volume 42, Issue 3
The Indian Paint Association (IPA) recently hosted the 26th Indian Paint Conference in Mumbai. The theme for this year’s conference was Coating 2020 – Future Redefined.
In order to have a better understanding of the paint market in India, IPA, appointed A.C. Nielsen to undertake a detailed and comprehensive study to estimate the size of the market, both in decorative and industrial paints. “Indian paint market – size and future” coating industry’s latest report by A.C. Nielsen was unveiled at the conference. This report covers the estimated trends in different product categories with an in-depth analysis of the end-user market in the decorative paints segment.
Key highlights of the study by IPA and A.C. Nielsen:
Indian paint market is expected to reach 49,545 INR Crs by 2016-2017, decorative market will continue to grow and would have higher share compared to industrial paints.
Overall paint value market is estimated at 26,040 INR Crs for FY 2011-2012. Share of decorative paint is 18,490 INR Crs (71 per cent) and share of industrial paint is 7,550 INR Crs (29 per cent).
Overall paint volume market is pegged at 3.11 million MT, share of decorative is 2.405 (77.3 per cent) and industrial 0.705 (22.7 per cent) million MT.
Per capita consumption of paint is estimated at 2.57 kg for FY 2011-2012.
High growth witnessed for exterior emulsion, interior emulsion, wood coatings in comparison to 2007-2008 Nielsen Survey.
Use of water-based paints is growing in the Indian paint market, new trends are catching up including paints with low VOC, no added lead, mercury, chromium, odourless paints.
Industrial paint market – in terms of growth rate, high growth witnessed for auto OEM, protective, powder coating and auto refinish paints in comparison to 2007-2008 Nielsen Survey.
Speaking on this occasion, Ramakanth Akula, President-Decoratives, Nippon Paint (India) Private Limited and President-IPA said, “With more than 100 years of knowledge and expertise from its dedicated members, the Indian Paint Association has played a crucial role in shaping up the Indian Paint Industry. After an overwhelming response from the government, the paint industry, trade partners, research and RnD technologists and other stakeholder’s year on year, the Indian Paint Association is glad to announce the 26th edition of the Indian Paint Conference.”
The three-day conference featured sessions on global coatings trends, shaping sustainability concepts in coatings, shifts in consumer profile, performance coating opportunity for India amongst others by the Senior Management from A.T. Kearney, Du Pont, Toyota, Dow Chemicals, BASF, Asian Paints, Kansai Nerolac Paints Ltd, Tata AutoComp Systems, Berger Paints and Akzo Nobel. The conference had participation from more than 270 associates and 75 paint companies including Asian Paints, Kansai Nerolac Paints Ltd, Berger Paints, Nippon Paints, Akzo Nobel and Premium Coatings.